TypeAnnouncement
SubjectOTHERS
Description
BOUSTEAD HOLDINGS BERHAD ("BHB" OR "COMPANY")

POSSIBLE PRIVATISATION OF THE COMPANY ("PROPOSAL")

The Company wishes to announce that following the earlier announcement regarding the Proposal, the Company had sought clarification from Lembaga Tabung Angkatan Tentera (“LTAT”),  which had confirmed that LTAT is considering a proposal to privatise the Company. The Proposal is subject to, among others, the finalisation of the structure of the Proposal, the requisite funding for the Proposal and the required regulatory approval(s) for the Proposal.

 

THE COMPANY WISHES TO HIGHLIGHT THAT THE PRESS NOTICE ISSUED BY LTAT DOES NOT AMOUNT TO A FIRM INTENTION BY LTAT TO UNDERTAKE THE PROPOSAL. ACCORDINGLY, THERE CAN BE NO CERTAINTY THAT LTAT WILL PROCEED WITH THE PROPOSAL.

 

If LTAT decides to proceed with the Proposal, LTAT expects to propose an offer price of RM0.80 per ordinary share in BHB (“BHB Share”). This offer price is indicative only and non-binding. The final offer price in relation to the Proposal (if undertaken) is subject to finalisation by LTAT.

 

LTAT will make subsequent announcement(s) on any material development in relation to the Proposal in accordance with the Rules on Take-overs, Mergers and Compulsory Acquisitions.

 

SHAREHOLDERS ARE ADVISED TO EXERCISE CAUTION AND SEEK APPROPRIATE ADVICE WHEN DEALING IN BHB SHARES SINCE THERE IS NO CERTAINTY THAT LTAT WILL PROCEED WITH THE PROPOSAL.

 

At this juncture, the Company has not received any offer relating to the Proposal from LTAT or any other parties.

 

This announcement is dated 29 May 2020.

 


Announcement Info

Company NameBOUSTEAD HOLDINGS BERHAD
Stock NameBSTEAD
Date Announced29 May 2020
CategoryGeneral Announcement for PLC
Reference NumberGA1-29052020-00025