Lim just about takes control of Thomson

SINGAPORE

In a filing with the Singapore Exchange (SGX) yesterday, Thomson Medical said

Mr Lim’s investment firm, Sasteria, has acquired 21.9 million shares or 7.46 per cent of the company in the open market.

This brings the total number of shares owned or controlled by Sasteria to slightly more than 147 million shares or 50.14 per cent of the total issued shares.

This also represents 48.14 per cent of the maximum potentially issued share capital.

Thomson Medical said once Sasteria has more than 50 per cent of the voting rights attributable to the maximum potentially issued share capital, the offer will be unconditional.

Last Friday, Thomson Medical announced that its founder, Dr Cheng Wei Chen, and his family sold their 39.34-percent stake in the company to Mr Lim.

Mr Lim, who has a reputation for being a savvy investor, bought the stake at $1.75 a share. He has said Thomson Medical has the potential to develop into a regional health-care company.

Thomson Medical runs a woman-andchild-care hospital here.

Under the Singapore Code on Takeovers and Mergers, the cash offer was extended to the remaining issued shares and is conditional on Sasteria acquiring more than 50 per cent of Thomson Medical.

At the offer price of $1.75, it values Thomson Medical at about $513 million.

Thomson Medical shares ended the trading day unchanged at $1.75 yesterday.

Mr Lim made news globally early last month when he offered £320 million ($662 million) to buy over the financiallytroubled Liverpool FC.