Nordic Flow Control Pte. Ltd. made an offer to acquire Starburst Holdings Limited (Catalist:40D) from Edward Lim Chin Wah, Yap Tin Foo and others for SGD 59.1 million on November 10, 2021.The offer price is SGD 0.238 in cash per Starburst share. Transaction is subject to minimum acceptance.

Edward Lim Chin Wah will sell 88.9319 million shares representing 35.8% and Yap Tin Foo will sell 84.0995 million shares representing 33.9%. Undertaking Shareholders tendering their Shares representing approximately 69.7% of the total number of issued Shares of the Starburst Holdings Limited in acceptance of the Offer. Transaction is subject to minimum tender of 50% stake.

As of January 24, 2022, Nordic Flow received 69.7% stake and hence offer became unconditional. The Offeror intends to exercise its right to compulsorily acquire all the Offer Shares not acquired under the Offer. The Offeror will then proceed to delist the Company from the SGX-ST.

As of January 24, 2022, expiry date of offer was extended from February 21, 2022, to march 7, 2022. As on February 15, 2022, the Offeror has received valid acceptances in respect of an aggregate of 211,703,412 Shares, representing approximately 85.26% total number of issued Shares of Starburst Holdings Limited. As on February 21, 2022, Phillip Securities received a valid acceptances in respect of an aggregate of 215,454,024 shares, representing approximately 86.77% of the total number of issued Shares Starburst Holdings Limited.

Phillip Securities Pte Ltd and acted as financial advisors and Bird & Bird ATMD LLP acted as legal advisor to Nordic Flow Control Pte. Ltd. RHT Capital Pte. Ltd. acted as financial advisors to the directors of Starburst Holdings Limited.

Boardroom Corporate & Advisory Services Pte. Ltd. acted as registrar to Starburst.