We refer to the announcements dated 4 February 2014, 10 February 2014, 25 February 2014 and 7 March 2014 in relation to the Offer.
We wish to announce that Bernas has today received the attached press notice from Maybank IB, on behalf of the Joint Offerors, informing that the closing date and time for acceptance of the Offer has been extended from 5.00 p.m. (Malaysian time) on Tuesday, 18 March 2014 to 5.00 p.m. (Malaysian time) on Tuesday, 1 April 2014 (“Final Closing Date”). Notice of the said extension will be posted to the holders of the Offer Shares accordingly.
On behalf of the Joint Offerors, Maybank IB also informed that the Joint Offerors have received valid acceptances of the Offer in respect of 37,556,942 Bernas Shares, representing approximately 7.98% of the issued and paid-up share capital of Bernas. Accordingly, based on valid acceptances, the Joint Offerors and the PAC collectively hold 431,262,605 Bernas Shares, representing approximately 91.67% of the issued and paid-up share capital of Bernas.
The level of acceptances of the Offer as at 5.00 p.m. (Malaysian time) on Thursday, 13 March 2014 is set out in the attached press notice.
As stated in Section 5 of the offer document dated 25 February 2014 which sets out the details, terms and condition of the Offer, the Joint Offerors do not intend to maintain the listing status of Bernas, and the Joint Offerors and the PAC do not intend to take any step to address the shortfall in the public shareholding spread of Bernas.
Further, pursuant to Paragraph 16.02(3) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”) (“Listing Requirements”), in the event the Joint Offerors receive acceptances under the Offer resulting in the Joint Offerors and the PAC holding in aggregate 90% or more of the Bernas Shares and that the Joint Offerors do not intend to maintain the listing status of Bernas, Bursa Securities shall suspend trading of Bernas Shares upon the expiry of five (5) market days from the immediate announcement by Bernas pursuant to Paragraph 9.19(48) of the Listing Requirements. Accordingly, the trading of Bernas Shares will be suspended with effect from 9.00 a.m. on Friday, 21 March 2014.
Save for the Final Closing Date, all other details, terms and condition of the Offer remain unchanged.
This Announcement is dated 13 March 2014.