Final Offer for Silverlake Axis: E2I's S$0.36 Per Share Bid

Silverlake Axis shareholders have been presented with a final voluntary unconditional offer from E2I, a group led by Silverlake Axis chairman Goh Peng Ooi, to privatize the company at S$0.36 per share in cash. Alternatively, shareholders may choose to receive a combination of S$0.30 per share in cash, together with one new redeemable preference share (RPS) in the capital of E2I for each offer share. The redemption amount for the new offeror RPS is S$0.18 apiece.


The offer, which remains open until 5:30 pm on October 7, unless extended by E2I, presents an opportunity for shareholders who may find it difficult to exit their investment due to low trading liquidity. Delisting and privatising Silverlake Axis would also provide the offeror and the company with greater control and management flexibility in utilising and deploying available resources.


E2I's offer represents a premium of 28.1% over Silverlake Axis' volume-weighted average price per share for one-month, 25% over the three-month period, and 31.9% over the six-month period up to and including August 23, being the last full day before the date of the announcement. It further represents a 31.9% premium over the 12-month period up to August 23, and is 20% higher than the last transacted price per share of S$0.30 on the last full trading day.

Silverlake Axis earlier appointed PrimePartners Corporate Finance as its independent financial adviser regarding this offer. The company directors, who are considered independent, will make a recommendation to shareholders about the offer based on the advice received. Shareholders are encouraged to consider the offer and make an informed decision based on their individual circumstances and investment objectives.

In conclusion, E2I's final offer for Silverlake Axis at S$0.36 per share presents an attractive opportunity for shareholders to exit their investment, while also providing the company with greater control and management flexibility. Shareholders should carefully consider the offer and seek professional advice if necessary.