General Announcement for PLC

24/08/2022

TAKE-OVERS & MERGERS (PARAGRAPH/RULE 9.19 (47A))

OLYMPIA INDUSTRIES BERHAD

Type Announcement
Subject TAKE-OVERS & MERGERS (PARAGRAPH/RULE 9.19 (47A))
Description 
OLYMPIA INDUSTRIES BERHAD ("OIB")

CONDITIONAL MANDATORY TAKE-OVER OFFER BY DUTA EQUITIES SDN BHD AND KENNY HEIGHT DEVELOPMENTS SDN BHD (COLLECTIVELY, THE "JOINT OFFERORS") AS WELL AS TAN SRI DATO' YAP YONG SEONG AND PUAN SRI DATIN LEONG LI NAR (COLLECTIVELY, THE "JOINT ULTIMATE OFFERORS") TO ACQUIRE ALL THE REMAINING ORDINARY SHARES IN OIB NOT ALREADY HELD BY THE JOINT OFFERORS AND THE JOINT ULTIMATE OFFERORS ("OFFER SHARES") AT A CASH OFFER PRICE OF RM0.08 PER OFFER SHARE ("OFFER")

The Board of Directors of OIB wishes to announce that the Company has today received the attached press release from RHB Investment Bank Berhad on behalf of the Joint Offerors and the Joint Ultimate Offerors, informing that as at 5.00 p.m. (Malaysian Time) on 24 August 2022, the Joint Offerors and the Joint Ultimate Offerors have received valid acceptances in respect of the Offer Shares resulting in the Joint Offerors, the Joint Ultimate Offerors and the persons acting in concert with them holding in aggregate more than 50.00% of the voting shares in OIB. Accordingly, the Offer has become wholly-unconditional.

 

The Offer shall remain open for acceptances up to 5.00 p.m. (Malaysian Time) on Wednesday, 7 September 2022, unless revised or extended, in accordance with the provisions of the Rules on Take-Overs, Mergers and Compulsory Acquisitions issued by the Securities Commission Malaysia.

 

Holders of Offer Shares who have yet to accept the Offer are advised to refer to the offer document dated 8 August 2022 for the details, terms and conditions of the Offer and procedures for acceptance of the Offer, should they decide to accept the Offer.

 

A copy of the press release is attached herewith.

 

This announcement is dated 24 August 2022.


Please refer attachment below.


Announcement Info

Company Name OLYMPIA INDUSTRIES BERHAD
Stock Name OLYMPIA
Date Announced 24 Aug 2022
Category General Announcement for PLC
Reference Number GA1-24082022-00050


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