COMPLET

3.950

(%)

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

COMPLETE LOGISTIC SERVICES BERHAD

Type Announcement
Subject TAKE-OVERS & MERGERS (PARAGRAPH/RULE 9.19 (47A))
Description
COMPLETE LOGISTIC SERVICES BERHAD ("CLSB" OR "COMPANY")

RECEIPT OF NOTICE OF CONDITIONAL VOLUNTARY TAKE-OVER OFFER FROM M&A SECURITIES SDN BHD ON BEHALF OF HEXTAR TECH SDN BHD (FORMERLY KNOWN AS GET ASIA GROUP SDN BHD ("OFFEROR") AND DATO' ONG CHOO MENG ("ULTIMATE OFFEROR")

The Board of Directors of CLSB (“Board”) wishes to announce that the Company had on 30 November 2021 received from M&A Securities Sdn Bhd on behalf of the Offeror and Ultimate Offeror, a notice of conditional voluntary take-over offer (“Notice”), notifying the Board, the intention of the Offeror and Ultimate Offeror to make an offer to acquire the following:

  1. all the remaining ordinary shares in CLSB (“Shares”) not already owned by the Offeror and Ultimate Offeror; and
  2. such number of new Shares that may be issued and allotted before the close of the offer arising from the exercise of the outstanding options already granted by the Offeree to its eligible directors and employees under the Company’s share issuance scheme,

(collectively known as the “Offer Shares”)

 

for a cash consideration of RM2.50 per Offer Share (“Offer Price”)  (“Offer”).

 

In accordance with Paragraph 3.06 of Take-Overs, Mergers and Compulsory Acquisitions Rules (“Rules”), the Board will appoint an independent adviser to advise the non-interested directors and all shareholders of the Company, on the fairness and reasonableness of the Offer, subject to the clearance of eligibility of the independent adviser by the Securities Commission Malaysia.

 

A copy of the Notice is attached herewith and will be posted to the holders of the Offer Shares within 7 days from the date of this announcement, in accordance with Paragraph 9.10(5)(b) of the Rules.

 

This announcement is dated 30 November 2021.




Please refer attachment below.

Attachments

Notice of Offer 30 Nov 21.pdf
522.3 kB



Announcement Info

Company Name COMPLETE LOGISTIC SERVICES BERHAD
Stock Name COMPLET
Date Announced 30 Nov 2021
Category General Announcement for PLC
Reference Number GA1-30112021-00089