The Straits Times / The Business Times News on OSIM

Osim's direct stake in Global Active jumps to 58.34%

12 April 2005
The Business Times

OSIM International's direct stake in takeover target Global Active has jumped to 58.34 per cent, from 40.8 per cent, after receiving acceptances amounting to 25.5 million shares of its mandatory conditional cash offer on Friday. As a result, Osim's offer for Global Active is now unconditional. So far, total acceptances that were received in response to Osim's offer amount to 42.4 million shares. Total purchases from the market amount to 1.5 million shares (0.63 per cent). Global Active also said that its recently reinstated chief executive, Cynthia Poa, will not be required by Osim to accept Osim's offer for her Global Active shares. And by virtue of Osim's increased stake in Global Active, Osim chief executive Ron Sim's deemed stake in Global Active has risen correspondingly to 58.34 per cent.

Compiled by MICHELLE QUAH