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GCL Announces Subsidiary’s Intention to Exercise Right of Compulsory Acquisition in relation to the Offer for Ban Leong Technologies Limited and Subsequent Delisting
Globenewswire· 2025-06-12 12:55
Core Viewpoint - GCL Global Holdings Ltd has successfully acquired approximately 92.92% of Ban Leong Technologies Limited's shares, enabling it to proceed with a compulsory acquisition of the remaining shares and plans to delist Ban Leong from the Singapore Stock Exchange [2][4][3]. Group 1: Acquisition Details - As of June 12, 2025, GCL's indirect subsidiary, Epicsoft Asia Pte. Ltd., owns 100,167,499 shares of Ban Leong, representing about 92.92% of the total issued shares [1][3]. - The Offeror has received acceptances exceeding 90% of the total issued shares, excluding treasury shares [2]. Group 2: Future Plans and Synergies - The acquisition is expected to create synergies through economies of scale and improved operational efficiencies, leading to new revenue streams and enhanced brand positioning within an integrated gaming ecosystem [5]. - GCL plans to align with Ban Leong's marketing and procurement strategies in consumer electronics and gaming hardware, exploring B2C sales opportunities and evaluating the introduction of branded gaming devices pre-installed with GCL titles [6].
GCL Subsidiary’s Offer for Ban Leong Technologies Declared Unconditional in all Respects
Globenewswire· 2025-05-27 12:30
Core Viewpoint - GCL Global Holdings Ltd. is pursuing an acquisition of Ban Leong Technologies Limited, with the Offer becoming unconditional as the Offeror has secured approximately 50.90% of the total Shares as of May 27, 2025 [1] Group 1: Acquisition Details - The Offeror can compulsorily acquire all remaining Shares if it secures 90% or more of the total Shares, at a price of S$0.6029 per Share [2] - Following the acquisition, the Offeror plans to delist Ban Leong from the Singapore Exchange if the minimum free float requirement is not met [2] Group 2: Acceptance Procedures - Shareholders wishing to accept the Offer must submit their acceptance forms by 5:30 p.m. Singapore time on July 2, 2025 [3] Group 3: Company Background - GCL Global Holdings Ltd. is a leading provider of games and entertainment, with a focus on bridging cultures through digital and physical content [6] - Epicsoft Asia Pte. Ltd., a subsidiary of GCL, is a distributor of interactive entertainment software in Taiwan, Hong Kong, and Southeast Asia [8] - Ban Leong Technologies Limited, incorporated in Singapore, specializes in the wholesale and distribution of computer peripherals and multimedia products [9][10]