OCBC has announced its support for Great Eastern Holdings’ (GEH) Resolutions B and C during the Extraordinary General Meeting held on 8 July 2025. The resolutions aim to address the 11-month trading suspension of GEH shares. As part of this initiative, OCBC will receive Class C Non-Voting shares under GEH’s Bonus Issue, ensuring the restoration of the 10% free float requirement if all minority shareholders accept the bonus shares.
The move follows OCBC’s voluntary general offer (VGO) launched on 10 May 2024, which increased its investment in GEH from 88.44% to 93.72% by October 2024. This strategic increase was intended to enhance operational synergies and capture a greater share of GEH’s value. OCBC has confirmed that it is satisfied with its current level of economic interest in GEH, regardless of the EGM’s outcome.
OCBC has committed not to convert the Class C Non-Voting shares after the fifth anniversary of their issuance, to prevent GEH from losing its free float again. Additionally, OCBC has stated it will not make further offers for GEH in the foreseeable future.
GEH plays a crucial role in OCBC’s ambition to become a leading wealth management entity in the region. The integration with GEH has allowed OCBC to offer a comprehensive range of investment, insurance, and estate planning solutions, benefiting from expanded access to GEH’s customer base.
Despite the Delisting Resolution not being approved at the EGM, OCBC remains committed to its strategic goals with GEH, continuing to foster synergies as an integrated financial services group.
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