The original offer price was previously determined on the basis that the shares will be acquired with the right to receive any distribution that may be declared, paid or made by the company on or after the offer announcement date. This includes the first and final dividend of 2.25 cents per share for the FY2022 ended Dec 31, 2022.
The final offer price represents an increase of 3.25 cents or 4.08% over the initial offer price after adjusting for Penguin’s FY2022 dividend of 79.75 cents per offer share.
The final offer price also exceeds the highest closing price of the shares in the 15-year period prior to the offer announcement.
Shares in Penguin closed 1 cent lower or 1.24% down at 79.5 cents on May 15.
