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- As of 5:30 p.m. (Singapore time) on July 02, 2025, the offer has closed and Epicsoft Asia Pte. Ltd. owns, controls, or has agreed to acquire an aggregate of 104,122,998 Shares representing approximately 96.59% of the total number of issued Shares of Ban Leong Technologies Limited.
SINGAPORE, July 2, 2025 /PRNewswire/ -- Epicsoft Asia Pte. Ltd. (the "Offeror"), a premier distributor of interactive entertainment software and wholly-owned subsidiary of GCL Global Pte. Ltd., today announced that the voluntary unconditional cash offer for Ban Leong Technologies Limited ("Ban Leong") has closed and any acceptances received after the close of the offer will be rejected.
To date, the Offeror has received valid acceptances in respect of 104,122,998 Shares, representing approximately 96.59% of the total number of issued Shares[1]. These acceptances include an aggregate of 30,318,400 Shares (representing approximately 28.13% of the total number of issued Shares) tendered in acceptance of the offer by Mr Teng Woo Boon Ronald, the Managing Director of the Company and his wife, Ms Teo Su Ching.
The Offeror now owns, controls, or has agreed to acquire an aggregate of 104,122,998 Shares representing approximately 96.59% of the total number of issued Shares of Ban Leong.
As the percentage of the total number of issued Shares (excluding Shares held in treasury) held in public hands has fallen below 10% (the "Free Float Requirement") as required by the Singapore Exchange Securities Trading Limited ("SGX-ST" or the "Singapore Stock Exchange"), the SGX-ST will suspend trading of the Shares at the close of the offer. As previously announced, the Offeror has no intention to support any action or take any steps for any such trading suspension by the SGX-ST to be lifted or to restore the public float. Instead, the Offeror intends to exercise its right to compulsorily acquire all the offer shares not acquired under the offer. Following such compulsory acquisition, the Offeror will proceed to delist Ban Leong from the SGX-ST.
This press release should be read in conjunction with the full text of the Announcement, a copy which may be obtained from the website of the SGX-ST.
No Offer or Solicitation
This news release is for information purposes only and is not intended to and does not constitute, or form part of, an offer, invitation or the solicitation of an offer or invitation to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law.
| [1] Unless otherwise stated, references in this Announcement to the total number of issued Shares shall be based on a total of 107,796,700 Shares in issue (excluding 8,703,300 treasury shares and 681,818 returned shares) as at the date of this Announcement. Percentage figures have been rounded to the nearest two (2) decimal places. |
About GCL Global Holdings Ltd.
GCL Global Holdings Ltd. leverages its diverse portfolio of digital and physical content to bridge cultures and audiences by introducing Asian-developed IP to a global audience across consoles, PCs, and streaming platforms.
Learn more at http://www.gclglobalholdings.com.
About GCL Global Pte. Ltd.
GCL Global Pte. Ltd. ("GGPL") unites people through immersive games and entertainment experiences, enabling creators to deliver engaging content and fun gameplay experiences to gaming communities worldwide with a strategic focus on the rapidly expanding Asian gaming market. It is an indirect wholly-owned subsidiary of GCL Global Holdings Ltd.
About Epicsoft Asia Pte. Ltd.
Epicsoft Asia Pte. Ltd. ("Epicsoft Asia"), a wholly-owned subsidiary of GCL Global Pte. Ltd., is a premier distributor of interactive entertainment software. With a robust network and a proven track record of successful game launches, Epicsoft Asia is dedicated to bringing premier gaming experiences to players across Taiwan, Hong Kong, and Southeast Asia.
About Ban Leong Technologies Limited
Ban Leong Technologies was incorporated in Singapore on 18 June 1993 and was listed on the Main Board of the Singapore Stock Exchange on 23 June 2005. The principal activities of the company and its subsidiaries are the wholesale and distribution of computer peripherals, accessories and other multimedia products. It distributes a wide range of technology products, with key segments that include IT accessories, gaming, multimedia, smart technology and commercial products. The company is headquartered in Singapore with regional offices in Malaysia and Thailand.
Forward-Looking Statements
All statements other than statements of historical facts included in this press release are or may be forward-looking statements. Forward-looking statements include but are not limited to those using words such as "aim", "seek", "expect", "anticipate", "estimate", "believe", "intend", "project", "plan", "strategy", "forecast", "targets" and similar expressions or future or conditional verbs such as "will", "would", "should", "could", "may" and "might". These statements reflect the Offeror's current expectations, beliefs, hopes, intentions or strategies regarding the future and assumptions in light of currently available information. Such forward-looking statements are not guarantees of future performance or events and involve known and unknown risks and uncertainties. Accordingly, actual results or outcomes may differ materially from those described in such forward-looking statements. Shareholders and investors should not place undue reliance on such forward-looking statements, and the Offeror does not undertake any obligation to update publicly or revise any forward-looking statements, subject to compliance with all applicable laws and regulations and/or rules of the SGX-ST and/or any other regulatory or supervisory body or agency.
GCL Investor Relations:
Keith Liu
keith@gcl.asia
Directors' Responsibility Statement pursuant to the Singapore Code on Take-overs and Mergers
The sole director of the Offeror and the directors of GGPL (including those who may have delegated detailed supervision of the preparation of this press release) have taken all reasonable care to ensure that the facts stated and all opinions expressed in this press release are fair and accurate and that there are no other material facts not contained in this press release, the omission of which would make any statement in this press release misleading, and they jointly and severally accept responsibility accordingly.
Where any information has been extracted or reproduced from published or otherwise publicly available sources or obtained from Ban Leong (including without limitation, relating to Ban Leong and its subsidiaries), the sole responsibility of the sole director of the Offeror and the directors of GGPL has been to ensure, through reasonable enquiries, that such information is accurately and correctly extracted from such sources or, as the case may be, accurately reflected or reproduced in this press release.