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Offeror(s): Zheijiang RIFA Holding Group Co
Independent Adviser(s): Grant Samuel & Associates Limited
Offer Date: 08/12/2016
Closing Date: 05/03/2017
Offer Type: Partial
On 5 October 2016, Zheijiang RIFA Holding Group Co (“RIFA”) gave notice of its intention to make a partial takeover offer to acquire 75% of the fully paid ordinary shares on issue in Airwork Holdings Limited (“Airwork”) at $5.40 per share. A second notice was given on 8 November 2016, to allow more time to obtain required third party approvals prior to any formal offer being made. RIFA subsequently sent the offer to Airwork shareholders on 8 December 2016.
The offer closed on 5 March 2017, and became unconditional on 14 March 2017. The level of acceptances reached 94.464%. Acceptances were then scaled back to 75%.
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