REE: Board approves the public tender offer for KHW shares

REE: Board approves the public tender offer for KHW shares

On May 17, 2019, the Board of Directors of Refrigeration Electrical Engineering Corporation (REE) approved the plan for public tender offer for the shares of Khanh Hoa Water Supply And Sewerage JSC in order to raise the ownership ratio from 24.85% to 45.85%:

1. Target company: Khanh Hoa Water Supply And Sewerage JSC

-       Stock code: KHW

-       Exchange floor: UPCOM

-       Charter capital: VND260 billion

-       Number of issued shares: 26,000,000 shares

-       Par value: VND10,000/share

2. Number of KHW shares expected for purchase: 5,460,000 shares (21% of KHW’s charter capital)
3. Number of KHW shares owned by REE after trading: 11,920,600 shares (45.85% of KHW’s charter capital)
4. Expected buying price: VND27,300/share. The buying price will correspondingly decrease after the ex-dividend date when KHW announces the record date for the 2018 dividend payment.
5. Trading time: from the date of decision to the end of Quarter 3/2019.   

 

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