General Announcement::News Release: SGX updates on its bid for the Baltic Exchange

Issuer & Securities

Issuer/ Manager
SINGAPORE EXCHANGE LIMITED
Securities
SINGAPORE EXCHANGE LIMITED - SG1J26887955 - S68
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
04-Aug-2016 18:30:12
Status
New
Announcement Sub Title
News Release: SGX updates on its bid for the Baltic Exchange
Announcement Reference
SG160804OTHRJSK3
Submitted By (Co./ Ind. Name)
Leela Pandit
Designation
Vice President
Effective Date and Time of the event
04/08/2016 17:00:00
Description (Please provide a detailed description of the event in the box below)
Singapore Exchange (SGX) announces that it has agreed with The Baltic Exchange Limited (Baltic Exchange) to proceed with the solicitation of support from shareholders of the Baltic Exchange (Baltic Shareholders) to acquire their issued ordinary share capital of the Baltic Exchange (Baltic Shares) for GBP160.41 in cash per Baltic Share. This represents a total consideration of GBP77.6 million.

It is contemplated that the Baltic Shareholders will also receive from the Baltic Exchange, at least GBP18.80 in cash as a final dividend per Baltic Share, subject to approval by the Baltic Shareholders and conditional upon SGX's proposed cash offer for 100% of the Baltic Shares (Potential Transaction) becoming effective.

SGX again states that there is no assurance that the exclusivity agreement signed on 25 May 2016 will lead to any definitive agreement(s) or completion of the Potential Transaction. SGX will comply with the listing rules of the Singapore Exchange Securities Trading Limited, and will promptly disclose any material developments with regard to the Potential Transaction by way of public announcement.

Attachments

20160804_SGX_updates_on_its_bid_for_the_Baltic_Exchange.pdf
Total size =278K