Sembcorp loosens up for Cascal

The company's 26,741,487 shares were tendered into and not withdrawn from the offer as of Friday.

Sembcorp Industries Ltd (Sembcorp) announced on Monday that Sembcorp Utilities will extend the expiration date of its tender offer for all of the issued and outstanding common shares (Shares) of Cascal (Offer) for all of the issued and outstanding Shares of Cascal, at a price of US$6.75 per Share if at least 80% of the issued and outstanding Shares of Cascal on a fully diluted basis are validly tendered and not withdrawn (the 80% Condition).

The Offer and withdrawal rights are now scheduled to expire at 5:00 p.m. New York City time on Thursday, July 8, 2010, unless further extended. The tender offer was previously scheduled to expire at 11:00 a.m. New York City time on Monday, June 21, 2010, according to a Sembcorp report.

Except for the extension of the tender offer expiration date, all other terms and conditions of the Offer remain unchanged.

Sembcorp also wishes to inform that as of the close of business on June 18, Friday, 26,741,487 Shares were tendered into and not withdrawn from the Offer, including 205,306 Shares tendered by guaranteed delivery. The 26,741,487 Shares tendered represent approximately 86.88% of the outstanding Shares, after taking into account the 200,000 Shares issued to WAGCAP Advisors LLC and the 30,581,343 Shares reported by Cascal to be issued and outstanding as of December 31, 2009, including 17,868,543 Shares held by Biwater Investments Ltd, the majority stockholder of Cascal.

The satisfaction of the 80% Condition will be determined at the extended tender offer expiration date, unless otherwise extended.

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