Issuance of shares to Green Esteel Pte Ltd, exemption for Green Esteel Pte Ltd from obligation to undertake mandatory take-over offer and placement to third party investors by Southern Steel Berhad
Advised Southern Steel Berhad (“SSB”) on (i) the issuance of shares in SSB to Green Esteel Pte Ltd (“Esteel”), (ii) the exemption under Paragraph 4.08(1)(b) of the Rules on Take-overs, Mergers and Compulsory Acquisitions for Esteel and its controlling shareholder to be exempted from the obligation to undertake a mandatory take-over offer to acquire all the remaining shares in SSB not already owned by them upon completion of the issuance of shares to Esteel, and (iii) the private placement of new shares in SSB to third party investors.
Advising Southern Steel Berhad were Partners Moy Pui Yee and Tan Yan Yan and Senior Associate Shannon Lim.