CCB

2.700

(%)

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

CYCLE & CARRIAGE BINTANG BERHAD

Type Announcement
Subject TAKE-OVERS & MERGERS (PARAGRAPH/RULE 9.19 (47A))
Description
CYCLE & CARRIAGE BINTANG BERHAD ("CCB" OR "COMPANY") - UNCONDITIONAL VOLUNTARY TAKE-OVER OFFER BY JARDINE CYCLE & CARRIAGE LIMITED ("OFFEROR") THROUGH CIMB INVESTMENT BANK BERHAD TO ACQUIRE ALL THE REMAINING ORDINARY SHARES IN CCB NOT ALREADY HELD BY THE OFFEROR ("OFFER SHARES") FOR A CASH CONSIDERATION OF RM2.70 PER OFFER SHARE ("OFFER")

(Unless otherwise stated, the terms used herein shall have the same meanings as those set out in the offer document dated 4 August 2022 (“Offer Document”))

 

We refer to the Offer Document in relation to the Offer.

 

The Company wishes to announce that CCB has today received a press notice from CIMB Investment Bank Berhad (“CIMB”), on behalf of the Offeror, informing that pursuant to the Offer, the Offeror had received valid acceptances in respect of the Offer Shares, which resulted in the Offeror holding 91.00% of the Shares as at 5.00 p.m. on 5 August 2022. Further details on the Offeror’s shareholdings in CCB are set out in Appendix I of the press notice attached in this announcement.

 

As stated in the Offer Document, the Offeror does not intend to maintain the listing status of CCB. In view of this, Bursa Securities will suspend the trading of the securities of CCB upon the expiry of 5 market days from the Closing Date in accordance with subparagraph 16.02(3) of the Listing Requirements. Thereafter, the Offeror will procure CCB to take the requisite steps to withdraw its listing status from the Official List in accordance with paragraph 16.07 of the Listing Requirements, subject to the approval of Bursa Securities.

 

In addition, as the Offeror has received valid acceptances resulting in the Offeror holding not less than 9/10 in value of the Shares, the Offeror will issue a notice to the Dissenting Shareholders (“Section 223 Notice”) to inform them that they may exercise their rights under subsection 223(1) of the CMSA, by serving a notice on the Offeror to require the Offeror to acquire their Shares on the same terms as set out in the Offer Document, or such other terms as may be agreed, or as the High Court, on an application made to it by such Dissenting Shareholder or by the Offeror, thinks fit to order under subsection 224(3) of the CMSA. The Section 223 Notice will be issued to the Dissenting Shareholders within 1 month from Friday, 5 August 2022, being the date when the Offeror holds not less than 9/10 in value of the Shares.

 

Holders who wish to accept the Offer are advised to carefully read the Offer Document, and the Independent Advice Circular to be issued by the Independent Adviser. Holders should consider the recommendation of the Independent Adviser carefully before making any decision regarding the Offer. Holders do not need to take any action if they have accepted the Offer or should they decide not to accept the Offer.

 

The Offer will remain open for acceptances until 5.00 p.m. (Malaysian time) on Thursday, 25 August 2022, being the first closing date of the Offer or such later date as the Offeror may decide and as may be announced by the Offeree or CIMB on behalf of the Offeror, at least 2 days before the closing date.

 

This announcement is dated 5 August 2022.




Please refer attachment below.

Attachments

Press Notice - 5 August 2022.pdf
580.2 kB



Announcement Info

Company Name CYCLE & CARRIAGE BINTANG BERHAD
Stock Name CCB
Date Announced 05 Aug 2022
Category General Announcement for PLC
Reference Number GA1-05082022-00074