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Title : CHALLENGER TECH - EXIT OFFER TOO LOW

  Date : 27th March 2019
Description

Mr Loo and Dymon Asia, via Digileap Capital, are attempting to take Challenger private at S$0.56 a share. We believe this price to be significantly below the true value of the company. This offer will not go through if 10% of the shareholders reject it.

We at Pangolin own 2.9% of Challenger’s shares and have made contact with other shareholders with 3.7% (total 6.6%). We would ask other shareholders who wish to discuss the bid to get in contact with us by clicking the CONTACT US tab and stating in the message box how many Challenger shares you own. If we think we can get enough support, then we will try to coordinate a response.

UPDATE

As of 26th April, shareholders amounting to 6.7% indicated they will reject the offer. Along with our 2.9% we are now at 9.6% against. 

Please do not rely solely on our opinion but seek independent advice.

To access our report on Challenger, please click here