EpicSoft's main business is in the wholesale of computer games. By combining the GCL group's gaming expertise with Ban Leong's distribution infrastructure, the acquisition will allow EpicSoft to deliver an integrated gaming ecosystem, the offer document reads.
EpicSoft says that the offer presents shareholders of Ban Leong a clean cash exit opportunity to realise their entire investment in the shares at a premium over the prevailing trading prices.
The offer price represents a premium of about 63.9%, 69.3%, 73.4% and 75.5% over the volume-weighted average price (VWAP) per share for the one, three, six, and 12 month period up to and including Apr 29. The offer price also represents a premium of 60.8% over the last transacted price per share on the last trading day.
The offeree circular will be sent to shareholders within 14 days from the date of despatch of the offer document.
See also: Second time’s the charm: FHT unitholders vote to privatise trust with 99.21% approval
Shares in Ban Leong closed 0.5 cents higher or 0.847% up at 59.5 cents on May 7.
