TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS EKOVEST BERHAD ("EKOVEST" OR THE "COMPANY") ACQUISITION OF ORDINARY SHARES AND WARRANTS IN PLS PLANTATIONS BERHAD ("PLS"), A 32.84%-OWNED ASSOCIATE OF EKOVEST, FROM RELATED PARTIES FOR A TOTAL CASH CONSIDERATION OF RM85,750,055 ("ACQUISITIONS") AND THE RESULTANT MANDATORY GENERAL OFFER TO ACQUIRE ALL THE REMAINING SECURITIES IN PLS NOT ALREADY HELD BY EKOVEST AFTER THE ACQUISITIONS ("MGO" OR "OFFER") (COLLECTIVELY REFERRED TO AS "PROPOSALS")
| EKOVEST BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS |
| Description | EKOVEST BERHAD ("EKOVEST" OR THE "COMPANY")
ACQUISITION OF ORDINARY SHARES AND WARRANTS IN PLS PLANTATIONS BERHAD ("PLS"), A 32.84%-OWNED ASSOCIATE OF EKOVEST, FROM RELATED PARTIES FOR A TOTAL CASH CONSIDERATION OF RM85,750,055 ("ACQUISITIONS") AND THE RESULTANT MANDATORY GENERAL OFFER TO ACQUIRE ALL THE REMAINING SECURITIES IN PLS NOT ALREADY HELD BY EKOVEST AFTER THE ACQUISITIONS ("MGO" OR "OFFER")
(COLLECTIVELY REFERRED TO AS "PROPOSALS") |
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We refer to the previous announcements in relation to the Proposals and the offer document dated 20 November 2020 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 those defined in the said announcements.
On behalf of the Board, RHB Investment Bank and Astramina Advisory wish to announce that the period for the Dissenting Holders to exercise their rights under Section 223(1) of the CMSA to require the Offeror to acquire their PLS Shares and/or PLS Warrants on the same terms of the Offer as set out in the Offer Document or such other terms as may be agreed or as the High Court thinks fit to order, has closed at 5:00 p.m. (Malaysian time) on 11 March 2021, being a date not less than three (3) months from the closing date of the Offer of 5:00 p.m. (Malaysian time) on Friday, 11 December 2020 (“Section 223 Closing Date”). This marks the completion of the Offer.
For information purposes, the Offeror has acquired a total of 951,300 PLS Shares and 50 PLS Warrants pursuant to Section 223(1) of the CMSA, representing approximately 0.24% of the total issued PLS Shares and less than 0.01% of the outstanding PLS Warrants respectively, as at the date of this Announcement.
This Announcement is dated 11 March 2021. |
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Announcement Info
| Company Name | EKOVEST BERHAD |
| Stock Name | EKOVEST |
| Date Announced | 11 Mar 2021 |
| Category | General Announcement for PLC |
| Reference Number | GA1-11032021-00110 |