WBL / United Engineers (UE)

WBL / United Engineers (UE): UE has revised the price for its general offer for WBL to $4.50 /sh from $4.15 previously. UE says the latest price is final and there will be no more increase. The closing date of the offer has now been extended from 10 May to 29 May, 5.30pm. This is the final closing date, and there will be no more extension even if the share offer becomes unconditional as to acceptances on or before 29 May. As at 9 May, UE and its concert parties control approx 42.65% of the total no. of issue stock units. The offer will turn unconditional if the acceptances cross the 50% level. WBL shares surged at the last moments of trading yday, closing at $4.50 vs the opening price of $4.17. UE’s latest offer is within the valuation of $4.27 - $5.16 per share of WBL provided by the Independent Financial Advisor.