The Straits Times / The Business Times News on OSIM

Osim's Global Active stake rises to 64.05%

14 April 2005
The Business Times

OSIM International's stake in takeover target Global Active continues to rise, as it receives more acceptances of its mandatory cash offer. Osim said it received acceptances on Monday and Tuesday amounting to 13.7 million Global Active shares, representing a stake of 5.71 per cent. That boosts its direct stake to 64.05 per cent, from 58.34 per cent. Osim CEO Ron Sim's deemed stake, correspondingly, rose by 5.71 per cent to 64.05 per cent. Osim also said, as of Tuesday, it had received acceptances totalling 56 million shares. Its offer for Global Active closes on April 28.

- Compiled by MICHELLE QUAH