Hongkong Land today announced that the exit offer to stockholders of MCL Land is now unconditional. This follows the passing of the resolution at the Extraordinary General Meeting of MCL Land held today to approve the proposed voluntary delisting of MCL Land from the Singapore Exchange.

For stockholders who have already accepted the exit offer of $2.45 per share, payment will be made by Dec 3. For stockholders who accept the exit offer from today until the closing date, payment will be made within 10 days of the receipt of their acceptance. The closing date of the exit offer is 5.30 p.m. on Dec 7.

If stockholders wish to accept the exit offer they must complete and sign the relevant acceptance forms and return them no later than 5.30 p.m. on Dec 7 to The Central Depository (CDP) (for the stock units deposited with CDP) or M & C Services (for the stock units not deposited with CDP).

Following the passing of the delisting resolution, the expected date for the delisting of the MCL Land stock units is Dec 21.

Hongkong Land Holdings is one of Asia’s leading property investment, management and development groups with premium commercial and residential property interests across the region and a member of the Jardine Matheson group.

The group owns and manages some five million sq. ft of commercial space in Hong Kong that defines the Central Business District, while in Singapore it has a significant interest in a number of major developments. Its 79%-owned affiliate, MCL Land, is a Singapore-listed residential developer.

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