Categories: Business

Grindrod Transport, Taylor Maritime enter money tender supply (NASDAQ:GRIN)

[ad_1]

Grindrod Transport (NASDAQ:GRIN) has entered right into a transaction implementation settlement with Taylor Maritime Investments (TMI) and its subsidiary Good Falkirk (MI).

The settlement supplies for a voluntary conditional money supply to be made by TMI for all the issued bizarre shares within the capital of Grindrod (GRIN).

Pursuant to the supply, GRIN shareholders might be entitled to obtain the supply worth of $21 in money for every share tendered.

As of the expiration time of the supply, the corporate has agreed to declare a particular dividend of$5.00/share to shareholders that maintain shares as of a dividend report date to be decided by the board.

If the circumstances to the supply are usually not glad as of the expiration time, no particular dividend might be paid by the corporate.

If the circumstances are met, GRIN shareholders who’ve validly tendered their shares would subsequently obtain an combination transaction worth of $26/share, valuing the corporate’s present issued and to be issued bizarre share capital at ~$506M on a totally diluted foundation.

The transaction worth represents a 26.8% premium to the final traded worth per share on Aug 26, 2022.

GRIN shares had been up round 1% premarket

[ad_2]
Source link
linda

Recent Posts

Landscaping Tips for Mountainous Terrain Success

Hey there, fellow landscaping enthusiast! If you're dreaming of transforming your mountain view property into…

2 days ago

One X Go Betting: A Complete Guide

One X Go betting is a modern twist on traditional sports betting, combining the excitement…

5 days ago

Top Demolition Services in Tampa, Florida

When it comes to demolition services in Tampa, Florida, there's a lot to consider. Whether…

1 week ago

Maximizing Efficiency in Construction Staffing Solutions

Hey there! If you've ever found yourself tangled in the complex web of staffing for…

1 week ago

How to Evaluate and Select the Right Content Creator Partners for Your Brand

In the rapidly evolving digital marketing landscape, finding content creators who authentically represent your brand…

2 weeks ago

Safety Tips When Hiring Demolition Contractors

Before diving into the specifics, it's important to understand what a demolition contractor does. These…

2 weeks ago