Shareholders of Ichiban Boshi operator RE&S approve privatisation offer

The Straits Times08-15

SINGAPORE - Shareholders of food services group RE&S have agreed to a proposed acquisition by Relish Investments that would take the company private. Relish Investments is owned by Euphoria ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2459471421?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-08-15 20:30","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2459471421","market":"sg","top_or_hot":-1,"title":"Shareholders of Ichiban Boshi operator RE&S approve privatisation offer","media":"The Straits Times","content":"<div>\n<p>SINGAPORE - Shareholders of food services group RE&S have agreed to a proposed acquisition by Relish Investments that would take the company private.\nRelish Investments is owned by Euphoria ...</p>\n\n<a href=\"https://www.straitstimes.com/business/companies-markets/shareholders-of-ichiban-boshi-operator-res-approve-privatisation-offer\">Source Link</a>\n\n</div>\n","source":"straits_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Shareholders of Ichiban Boshi operator RE&S approve privatisation offer</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShareholders of Ichiban Boshi operator RE&S approve privatisation offer\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-15 20:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.straitstimes.com/business/companies-markets/shareholders-of-ichiban-boshi-operator-res-approve-privatisation-offer><strong>The Straits Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SINGAPORE - Shareholders of food services group RE&S have agreed to a proposed acquisition by Relish Investments that would take the company private.\nRelish Investments is owned by Euphoria ...</p>\n\n<a href=\"https://www.straitstimes.com/business/companies-markets/shareholders-of-ichiban-boshi-operator-res-approve-privatisation-offer\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK6000","symbol_name":"餐馆","start_time":0,"source_url":"https://www.straitstimes.com/business/companies-markets/shareholders-of-ichiban-boshi-operator-res-approve-privatisation-offer","article_id":"2459471421","we_media_id":null,"thumbnails":[],"rights":{"source":"straits_highlight","url":"https://www.straitstimes.com/business/companies-markets/shareholders-of-ichiban-boshi-operator-res-approve-privatisation-offer","rn_cache_url":null,"customStyle":"","selectors":"body","filters":"","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2459471421","pubTimestamp":1723725000,"sourceInfo":{"source_id":"straits_highlight","name":"Straits Times"},"weMediaInfo":null,"summary":"SINGAPORE - Shareholders of food services group RE&S have agreed to a proposed acquisition by Relish Investments that would take the company private.Relish Investments is owned by Euphoria Investments, a special-purpose vehicle that is an indirect wholly owned subsidiary of a fund managed by Southern Capital Group, a Singapore-headquartered private equity firm, said the group on Thursday .RE&S operates Japanese food and beverage outlets in Singapore and Malaysia, including popular brands such as Ichiban Boshi, Yakiniku-Go, Kuriya Japanese Market and Gokoku bakeries.Shareholders who accept the privatisation offer, which is made by way of a scheme of arrangement, can either opt for a cash payout of S$0.36 a share, or a combination of $0.33 a share in cash and 0.083143 new share in the special-purpose vehicle.In total, 99.98 per cent of the represented shares, held by 49 present shareholders, voted in favour of the scheme. Ten shareholders holding 0.02 per cent, or 60,300, of the represen","collect":0,"end_time":0,"defaultTopTitle":"straitstimes.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK6000":"餐馆","1G1.SI":"RE&S HOLDINGS LIMITED","BK6505":"周期性消费品与消费者服务"},"translate_title":"Ichiban Boshi运营商RE&S股东批准私有化要约","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"1G1.SI":1},"content_text":"SINGAPORE - Shareholders of food services group RE&S have agreed to a proposed acquisition by Relish Investments that would take the company private.\nRelish Investments is owned by Euphoria Investments, a special-purpose vehicle that is an indirect wholly owned subsidiary of a fund managed by Southern Capital Group, a Singapore-headquartered private equity firm, said the group on Thursday (Aug 15).\nRE&S operates Japanese food and beverage outlets in Singapore and Malaysia, including popular brands such as Ichiban Boshi, Yakiniku-Go, Kuriya Japanese Market and Gokoku bakeries.\n\n\n\nShareholders who accept the privatisation offer, which is made by way of a scheme of arrangement, can either opt for a cash payout of S$0.36 a share, or a combination of $0.33 a share in cash and 0.083143 new share in the special-purpose vehicle.\nThe scheme meeting, which was held on Thursday at 10am, had over 329.9 million shares represented. Excluding treasury shares, the group has 353.8 million issued and paid-up shares, based on its FY2023 annual report.\nIn total, 99.98 per cent of the represented shares, held by 49 present shareholders, voted in favour of the scheme. Ten shareholders holding 0.02 per cent, or 60,300, of the represented shares voted against the scheme.\n\n\n\n\nRE&S said it will next be submitting its application to the court for the sanction of the scheme.\n\nSubject to the court order and the satisfaction (or waiver, where applicable) of all the scheme conditions, the scheme will become effective and binding upon the lodgement of the court order with the Accounting and Corporate Regulatory Authority of Singapore, said the group.\n\nThe expected date of the hearing is on or around Aug 29, and the last day of trading for RE&S shares is likely to be on or around Aug 30.\n\nThe payment of the scheme consideration is expected to be on or around Oct 18, and shares will be delisted a few days after, subject to Singapore Exchange approval.\nWhen the proposed privatisation was announced, RE&S said the offer represented a 56.5 per cent premium to the last traded price of S$0.23 or 50 per cent premium to the three-month volume-weighted average price up to the last traded day.\n\nIt also represents a 45.2 per cent premium to the six-month volume-weighted average price up to May 13, and is priced at more than two times the company’s audited net asset value per share as at Jun 30, 2023.\n\nRE&S said Euphoria Investments plans to leverage Southern Capital Group’s expertise, resources and network to accelerate the F&B company’s growth trajectory, capitalise on emerging opportunities and strengthen its market position.\n\nRE&S called for a trading halt before market opened on Thursday. Shares of RE&S closed flat at $0.36 on Wednesday. THE BUSINESS TIMES\n\n\n\n\n\nMore On This Topic\n\n \n\nIchiban Boshi operator RE&S shares soar 32% a day after announcing privatisation offer  \n\n\n\n \n\nJapan’s famed doughnut chain Mister Donut opens on May 21 at Junction 8","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2459471421"}