VibroPower (SGX:BJD) received a mandatory conditional cash offer from Benedict Chen Onn Meng for all the issued and paid-up shares in the company's capital, according to a filing with the Singapore Exchange on Thursday.
On Monday, Meng acquired 17,202,333 shares from six sellers, representing around 23.34% of the company's total issued shares for a total consideration of SG$344,046.
Prior to this, Meng held 12,175,380 shares in the company, accounting for a 16.52% stake. The deal raises Meng's ownership to 39.86%. Along with the concert party, Meng now holds a 49.97% stake in VibroPower.
Meng holds 4,000,060 warrants that represent 57.69% of outstanding warrants.
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