PolyPeptide tender meets minimum acceptance condition on provisional results
PolyPeptide said on October 13 that Samsung Peptide AG’s tender offer had provisionally met its minimum acceptance condition, following the main offer period’s close on October 12.
The company reported 29,014,418 shares tendered, representing 87.59% of issued share capital and voting rights, or an 87.88% success rate measured against shares covered by the offer. The minimum acceptance finding remains subject to confirmation in the definitive interim result, expected on October 16.
PolyPeptide also reported that the no-material-adverse-effect condition had been satisfied. The offer remains subject to regulatory approvals in certain jurisdictions and shareholder resolutions concerning transfer and voting restrictions and Samsung-nominated directors. An extraordinary general meeting is scheduled for October 26.
Subject to the offer being declared successful in the definitive interim notice, the additional acceptance period is scheduled to run from October 19 to October 30, ending at 16:00 Swiss time.
The announcement adds a reported acceptance result to the previously disclosed tender timetable. It does not establish settlement or completed ownership transfer.