Fairfax Asia pushes cash offer for Singapore Re

Offer price is S$0.3535 per share.

Fairfax Asia is making a cash offer for the 71.82% stake that Singapore Re does not already own, according to an SGX filing.

The offer price is S$0.3535 per share, conditional on Fairfax Asia garnering a stake of more than 50%.

The offer price was determined on the basis that the offer shares would be acquired with the right to receive any dividends that may be declared, paid or made by the company on or after the announcement date.

The offer shares are to be acquired fully paid, free from all claims, charges, equities, mortgages, liens, pledges, encumbrances, rights of preemption, and other third party rights and interests of any nature, and together with all rights, benefits, entitlements and advantages attached as of the announcement date.