IGB

2.970

(%)

OTHERS IGB CORPORATION BERHAD ("IGB" OR THE "COMPANY") ACQUISITION BY GOLDIS BERHAD ("GOLDIS") OF THE ENTIRE EQUITY INTEREST IN IGB NOT ALREADY OWNED BY GOLDIS ("SCHEME SHARES") BY WAY OF A MEMBERS' SCHEME OF ARRANGEMENT TO BE UNDERTAKEN BY IGB PURSUANT TO SECTION 366 OF THE COMPANIES ACT, 2016, AT AN OFFER PRICE OF RM3.00 FOR EACH SCHEME SHARE ("SCHEME")

IGB CORPORATION BERHAD

Type Announcement
Subject OTHERS
Description
IGB CORPORATION BERHAD ("IGB" OR THE "COMPANY")

ACQUISITION BY GOLDIS BERHAD ("GOLDIS") OF THE ENTIRE EQUITY INTEREST IN IGB NOT ALREADY OWNED BY GOLDIS ("SCHEME SHARES") BY WAY OF A MEMBERS' SCHEME OF ARRANGEMENT TO BE UNDERTAKEN BY IGB PURSUANT TO SECTION 366 OF THE COMPANIES ACT, 2016, AT AN OFFER PRICE OF RM3.00 FOR EACH SCHEME SHARE ("SCHEME")

We refer to the announcements dated 23 February 2017, 30 March 2017, 14 April 2017, 26 April 2017, 2 May 2017, 30 June 2017, 4 July 2017, 20 July 2017, 5 October 2017, 19 October 2017, 26 October 2017, 27 October 2017, 21 November 2017, 28 December 2017, 9 January 2018, 10 January 2018, 11 January 2018 and 29 January 2018 in relation to the Scheme (collectively, “the Announcements”). Unless otherwise defined, the terms used herein shall have the same meaning as those defined in the Announcements.

IGB had on 29 January 2018 despatched election notices to the Scheme Shareholders for election to accept any one of the following as settlement of the Offer Price (“Election”):

(i)       Cash of RM3.00 (“Cash Option”); or

(ii)      Cash and new Goldis Shares (“Cash and Shares Option”) via:

         (a)     30% of the Offer Price  equivalent to RM0.90 in cash; and

         (b)     70% of the Offer Price equivalent to RM2.10 via the issuance of new Goldis Shares at RM3.00 for each Goldis Share; or

(iii)      Cash and New RCCPS (“Cash and New RCCPS Option”) via:

         (a)    12% of the Offer Price equivalent to RM0.36 in cash; and

         (b)    88% of the Offer Price equivalent to RM2.64 via the issuance of New RCCPS at RM3.28 for each New RCCPS.

On behalf of the Company, CIMB Investment Bank Berhad wishes to announce the details of the Election results at the close of Election period on 20 February 2018 as disclosed in Table 1 attached herein. Cash settlement and/or new Goldis Shares/New RCCPS issuance will be made by Goldis to the Scheme Shareholders on 2 March 2018.

 

This announcement is dated 23 February 2018.




Please refer attachment below.



Announcement Info

Company Name IGB CORPORATION BERHAD
Stock Name IGB
Date Announced 23 Feb 2018
Category General Announcement for PLC
Reference Number GA1-23022018-00049