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Occtane: The Offeror has received valid acceptances of the Offer Shares representing 398,000,000 Offer Shares.

AInvestTuesday, Aug 6, 2024 7:10 am ET
1min read

L'OCCITANE(00973) announces that, as at the close of the Tender Period (i.e., 4:00 p.m. on August 6, 2024 (Hong Kong time)), the Tendering Party has received valid tenders for 398,000,000 shares representing approximately 3.98% of the total issued and outstanding shares of the Company, of which 394,000,000 shares representing approximately 3.94% of the total issued and outstanding shares of the Company have been validly tendered by non-interested shareholders.

The number of valid tenders for the Shares subject to the Share Purchase Option is less than the maximum number of Shares subject to the Share Purchase Option. As a result, the pro-rata scaling mechanism will not be applied and the Share Purchase Option holders will be entitled to settle all valid tenders for the Shares subject to the Share Purchase Option with the remaining Shares.

As at the end of the Tender Period, the Tendering Party's Common Action Group held, controlled or directed 1,071,000,000 shares, representing approximately 72.64% of the total issued and outstanding shares of the Company. Except as set forth above, the Tendering Party's Common Action Group did not acquire or agree to acquire any shares during the Tender Period, nor did it borrow or lend any securities relating to the shares.

Immediately following the expiry of the Tender Period, taking into account the valid tenders for the Shares (and the full settlement thereof), the Tendering Party's Common Action Group will hold a total of 146,600,000 shares, representing approximately 99.36% of the total issued and outstanding shares of the Company. The valid acceptance of the 398,000,000 shares (i.e., the valid tenders for the Shares) will result in the Tendering Party holding 394,000,000 non-interested shares, representing approximately 97.68% of the total non-interested shares.

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