Under this offer, OUE will buy back up to 84,038,036 shares, or 10% of the total share base as at April 26.
If the total number of shares tendered exceeds OUE’s maximum buyback amount, the number of shares accepted will be scaled down on a pro-rata basis.
In scaling down the number of excess shares tendered by shareholders, OUE will also round down odd lots to the closest 100 shares.
The offer will be open for acceptance till May 30.
See also: Q&M issues letter of demand to Aoxin Q&M’s group CEO
Shareholders who tender their shares will still receive OUE’s FY2023 dividends, which will be paid on May 24 provided that they own the shares as at May 9
“In addition to rewarding shareholders, this offer allows us to enhance shareholder value in the long term as it is accretive to the company’s earnings per share and net asset value per share," says deputy CEO Brian Riady.
OUE closed at $1.05, 0.94% down.
