News

Take-Overs & Mergers (Paragraph/Rule 9.19 (47A))

BackDec 27, 2016
Type Announcement
Subject TAKE-OVERS & MERGERS (PARAGRAPH/RULE 9.19 (47A))
Description

KUMPULAN PERANGSANG SELANGOR BERHAD (PERANGSANG SELANGOR) UNCONDITIONAL TAKE-OVER OFFER BY PERANGSANG PACKAGING SDN BHD (PPSB OR OFFEROR), A WHOLLY-OWNED SUBSIDIARY OF PERANGSANG SELANGOR, THROUGH CIMB INVESTMENT BANK BERHAD TO ACQUIRE ALL THE REMAINING ORDINARY SHARES OF RM0.50 EACH IN CENTURY BOND BHD (CBB OR OFFEREE) NOT ALREADY OWNED BY THE OFFEROR (OFFER SHARES) FOR A CASH CONSIDERATION OF RM1.75 PER CBB SHARE (OFFER)

We refer to the announcements dated 11 August 2016, 31 October 2016, 8 November 2016, 21 November 2016, 6 December 2016, 7 December 2016 and 8 December 2016 in relation to the Offer (“Announcements”) and the offer document dated 21 November 2016 which sets out the details, terms and conditions of the Offer (“Offer Document”). Unless otherwise stated, the terms used herein shall have the same meaning as defined in the Announcements and the Offer Document.

 

On behalf of the Board of Directors of Perangsang Selangor, CIMB Investment Bank Berhad (“CIMB”) wishes to announce that the Offer has closed at 5.00 p.m. on Tuesday, 27 December 2016 (“Closing Date”).

 

Based on valid acceptances received in respect of the Offer as at 5.00 p.m. on the Closing Date, the Offeror holds 111,714,166 CBB Shares, representing approximately 93.10% of CBB’s total issued and paid-up share capital. As the Offeror is holding more than 90% of the listed shares of CBB effective 6 December 2016 and in view that the Offeror does not intend to maintain the listing status of CBB, the trading of the CBB Shares would be suspended upon the expiry of five (5) Market Days from the Closing Date, pursuant to Paragraph 16.02(3) of the Listing Requirements. As such, the CBB Shares will be suspended from trading with effect from 9.00 a.m. on Thursday, 5 January 2017.

 

In addition to the above, the Offeror is not eligible to invoke the provisions of Section 222 of the CMSA to compulsorily acquire the remaining CBB Shares.

 

The details of the level of acceptances of the Offer as at 5.00 p.m. on Closing Date are set out in the attached press notice released by CIMB, on behalf of the Offeror.

 

This announcement is dated 27 December 2016.


Announcement Info

Company Name KUMPULAN PERANGSANG SELANGOR BERHAD
Stock Name KPS
Date Announced 27 Dec 2016
Category General Announcement for PLC
Reference Number GA1-27122016-00061

 

Please refer attachment below.

Attachments

  1. Press_Release_on_Closing_of_the_Offer_-_27_Dec_2016.pdf (Size: 835,635 bytes)