The Chairman and Chief Executive of OSIM International Ltd (the “Company” or “OSIM”), Mr. Ron Sim Chye Hock, has revised the Offer Price for OSIM shares to S$1.39 per share. The Offer was made through Vision Three Pte. Ltd. (the “Offeror”), a private investment vehicle legally and beneficially owned by Mr. Ron Sim.
There will be no further revisions made to the Final Offer Price. Judging by the size of the increase ($0.07), it seems that Ron Sim is not hell-bent to privatize the company. Nevertheless, the final offer still represent a premium of 40% for three-month periods up to and including 29 February 2016. With this latest development, it remains to be seen what the actual outcome of this saga will be like.
To be fair to the minority shareholder, although the offer made by Ron Sim is reasonable, many of them would have suffered heavy losses if the takeover materialized, especially ...
...