{"id":23932,"date":"2023-12-15T02:41:00","date_gmt":"2023-12-15T02:41:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/4294872_AE94872_0"},"modified":"2023-12-15T02:41:00","modified_gmt":"2023-12-15T02:41:00","slug":"pre-conditional-voluntary-conditional-cash-offer-for-vinda-international-at-hk23-50-per-share","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=23932","title":{"rendered":"Pre-Conditional Voluntary Conditional Cash Offer for Vinda International at HK$23.50 per share"},"content":{"rendered":"\n<p><b><u>Key Information:<\/u><\/b><\/p>\n<ul type=\"disc\">\n<li>Subject to the satisfaction or waiver of certain pre-conditions,&nbsp;Isola Castle Ltd, a member of the RGE-managed group of companies, will make an offer to acquire all the issued shares in Vinda International Holdings Limited (Vinda) at <span class=\"xn-money\">HK$23.50<\/span> per share, other than 92,538,100 shares (representing 7.69% of the issued share capital of Vinda) already owned by Beaumont Capital Fund Ltd.\n<\/li>\n<li>The Offer Price of <span class=\"xn-money\">HK$23.50<\/span> per share is at a premium of approximately:<\/li>\n<\/ul>\n<p class=\"prnml80\">o&nbsp;&nbsp; 149.78% over the unaudited consolidated net asset value of approximately <span class=\"xn-money\">HK$9.41<\/span> per Share, based on the unaudited consolidated net assets of Vinda as at <span class=\"xn-chron\">30 June 2023<\/span> based on the number of Shares in issue as at the date of this announcement<\/p>\n<p>o&nbsp;&nbsp; 22.12% over the average of the closing prices of the Shares as quoted on the Hong Kong Stock Exchange for the 60 trading days up to and including the Last Trading Day of <span class=\"xn-money\">HK$19.24<\/span> per Share<\/p>\n<ul type=\"disc\">\n<li>The two largest Shareholders, Essity GH and Mr. Li, representing approximately 72.63% of the issued share capital of Vinda as at the date of this announcement, have irrevocably undertaken to accept the Offer.\n<\/li>\n<li>The Offer will allow shareholders an opportunity to realise all of their holdings in Vinda at an attractive premium over the market price of the shares for cash.\n<\/li>\n<li>RGE has no plans to make any major changes to the current business operations of Vinda, or to introduce any major changes in the management or the employees as a result of the Offer.<\/li>\n<\/ul>\n<p><span class=\"legendSpanClass\"><span class=\"xn-location\">SINGAPORE<\/span>, <span class=\"xn-location\">HONG KONG<\/span> and <span class=\"xn-location\">STOCKHOLM<\/span><\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">Dec. 15, 2023<\/span><\/span> \/PRNewswire\/ &#8212; Subject to the satisfaction or waiver of the Pre-Conditions, Isola Castle Ltd, a member of the RGE-managed group of companies, today announced a pre-conditional voluntary conditional cash offer at <span class=\"xn-money\">HK$23.50<\/span> per share for all the issued shares in Vinda International Holdings Limited (Vinda), other than 92,538,100 shares (representing 7.69% of the issued share capital of Vinda) and already owned by Beaumont Capital Fund Ltd<sup>[1]<\/sup>.<\/p>\n<p>Headquartered in <span class=\"xn-location\">Singapore<\/span>, RGE companies are global industry leaders across a range of sectors in the bioeconomy and in transition and renewable energy. The group operates one of the largest, most technologically advanced and efficient makers of pulp and paper products, including its flagship product PaperOne<sup>TM<\/sup>.<\/p>\n<p>The two largest shareholders, Essity and Mr. Li, representing approximately 72.63% of the issued share capital of Vinda as at the date of this announcement, have irrevocably undertaken to accept the Offer.<\/p>\n<p>The Offer will be made, subject to the satisfaction or waiver of the Pre-conditions which have been set out in the Pre-Conditional Voluntary Conditional Cash Offer Announcement.<\/p>\n<p><b>Offer Details<\/b><\/p>\n<p>If and when the Offer is made, the total value of the Offer is at approximately <span class=\"xn-money\">HK$26,102.6 million<\/span>, which is equivalent to approximately <span class=\"xn-money\">US$3,342 million<\/span> using an exchange rate of <span class=\"xn-money\">1 USD<\/span> = <span class=\"xn-money\">7.81 HKD<\/span>.<\/p>\n<p>At <span class=\"xn-money\">HK$23.50<\/span> in cash for each Share acquired, it represents a premium of approximately:<\/p>\n<p class=\"prnml40\">o&nbsp;&nbsp; 149.78% over the unaudited consolidated net asset value of approximately <span class=\"xn-money\">HK$9.41<\/span> per share, based on the unaudited consolidated net assets of Vinda as at <span class=\"xn-chron\">30 June 2023<\/span> based on the number of shares in issue as at the date of this announcement<\/p>\n<p class=\"prnml40\">o&nbsp;&nbsp; 22.12% over the average of the closing prices of the shares as quoted on the Hong Kong Stock Exchange for the 60 trading days up to and including the Last Trading Day of <span class=\"xn-money\">HK$19.24<\/span> per share<\/p>\n<p><b>No Plans for Major Changes<\/b><\/p>\n<p>RGE has no plans to make any major changes to the current business operations of Vinda, including any redeployment of the fixed assets or to introduce any major changes in the management or the employees of Vinda.<\/p>\n<p><b><i><span class=\"xn-person\">Belinda Tanoto<\/span>, Managing Director, RGE, said: <\/i><\/b><\/p>\n<p>&quot;RGE is a leading global player in the pulp, paper and tissue business. Vinda&#8217;s vision is to be <span class=\"xn-location\">Asia&#8217;s<\/span> first choice for high quality hygiene products and services. RGE continues to leverage on <span class=\"xn-location\">Asia&#8217;s<\/span> consumer growth story,&nbsp;and build a stronger, more efficient and more sustainable business.&quot;<\/p>\n<p><b>Appointed Financial Advisers<\/b><\/p>\n<p>BNP Paribas and CICC have been appointed as joint financial advisers to the Offeror in respect of the Offer.<\/p>\n<p class=\"prntac\">-Ends-<\/p>\n<p><b>About RGE \u2013 <\/b><b><a href=\"https:\/\/www.rgei.com\/\" target=\"_blank\" rel=\"nofollow noopener\">www.rgei.com<\/a>&nbsp;<\/b><\/p>\n<p>Headquartered in <span class=\"xn-location\">Singapore<\/span>, RGE is a group of resource-based manufacturing companies with global operations. We produce sustainable natural fibres, edible oils, green packaging and clean natural gas used to create products that feed, clothe and energise the world. We help improve billions of peoples&#8217; lives through sustainable products they use every day. With more than <span class=\"xn-money\">US$35 billion<\/span> in assets and 70,000 employees, we are creating a more recyclable, biodegradable and lower carbon future.<\/p>\n<p>Committed to sustainable development, conservation and community development, we strive towards what is good for the community, good for the country, good for the climate, good for the customer, and good for the company. With current operations spanning across <span class=\"xn-location\">Indonesia<\/span>, <span class=\"xn-location\">China<\/span>, <span class=\"xn-location\">Brazil<\/span>, <span class=\"xn-location\">Spain<\/span> and <span class=\"xn-location\">Canada<\/span>, we continue to expand and engage new markets.<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody>\n<tr>\n<td class=\"prnpr2 prnpl2 prnsbtb0 prnrbrb0 prnsbbb0 prnsblb0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">[1]&nbsp;Belinda Tanoto is the daughter of Sukanto Tanoto who is the Founder and Chairman of RGE. She is also the sole shareholder of Beaumont Capital Fund Ltd.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Key Information: Subject to the satisfaction or waiver of certain pre-conditions,&nbsp;Isola Castle Ltd, a member of the RGE-managed group of companies, will make an offer to acquire all the issued shares in Vinda International Holdings Limited (Vinda) at HK$23.50 per share, other than 92,538,100 shares (representing 7.69% of the issued share capital of Vinda) already [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-23932","post","type-post","status-publish","format-standard","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pre-Conditional Voluntary Conditional Cash Offer for Vinda International at HK$23.50 per share - 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