Chief Executive Officer Benedict Chen Onn Meng has gained a 54.9% stake in VibroPower (SGX:BJD), following his mandatory cash offer to acquire all issued shares not already under his control, according to a Monday filing on the Singapore Exchange.
As of Jan. 6, valid acceptances totaled 3.61 million shares (4.90% of issued shares), adding to his pre-offer holdings of 36.8 million shares. Through acceptance and prior holdings, Chen controls 87.28% of VibroPower's outstanding warrants.
The offer included both shares and warrants.
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