RHB Securities Singapore has announced that it has, for and on behalf of Ocean International Capital, received valid acceptance for the exit offer to acquire all the issued ordinary shares of Otto Marine in connection with the voluntary delisting of Otto Marine from the Singapore Exchange.
Otto Marine announced a plan in June to delist from the exchange after receiving a takeover offer from Ocean International Capital, owned by Datuk Seri Yaw Chee Siew, Otto’s executive chairman and controlling shareholder.
RHB Securities Singapore said the delisting proposal conditions have been fulfilled and the exit offer has become and is declared unconditional in all respects.
Otto Marine will officially delist from Singapore Exchange Securities Trading upon completion of the deal before September 30.
