Company news
SBI E2-Capital acted as the Financial Adviser to E2-Capital (Holdings) Limited in an Unconditional Mandatory Cash Offer by Right Precious Limited for all the issued shares in the share capital of E2-Capital (Holdings) Limited (Now renamed as CIAM Group Limited: (378.HK))
13.05.2008
SBI E2-Capital acted as the Financial Adviser to E2-Capital (Holdings) Limited in an Unconditional Mandatory Cash Offer by Right Precious Limited for all the issued shares in the share capital of E2-Capital (Holdings) Limited (Now renamed as CIAM Group Limited: (378.HK)).
SBI E2-Capital (“SBI E2-Capital”) acted as the financial adviser to E2-Capital (Holdings) Limited (“E2-Capital”) to advise E2-Capital in relation to Unconditional Mandatory Cash Offer by Right Precious Limited for all the issued shares in the share capital of E2-Capital. Services provided included advice in relation to the Hong Kong Code on Takeovers and Mergers (the “Code”) and negotiating with the Hong Kong Securities and Futures Commission (the “SFC”) to obtain the relevant waivers. SBI E2-Capital also was E2-Capital’s principal communication channel to the Stock Exchange of Hong Kong and the SFC.
The purchase price of HK$2.225 per the ordinary share of the E2 Capital (“Share”) sold represents:-
l a premium of approximately 20.3% to the average closing price per Share of approximately HK$1.85 as quoted on the Stock Exchange for the last 30 trading days immediately prior to and including the last trading day immediately before the date of announcement; and
l a premium of approximately 55% over the Company’s audited consolidated net asset value per Share of approximately HK$1.44 per Share as at 31 December 2006.