Further to our announcement dated 13 November 2013, we wish to announce that Bursa Securities has, vide its letter dated 11 February 2014, granted BERNAS an extension of time of six (6) months up to 19 August 2014 to comply with the public shareholding spread requirement pursuant to paragraph 8.02(1) of the MMLR.
Based on the Company’s Record of Depositors as at 5 February 2014, the public shareholding spread of BERNAS is approximately 16.31%, comprising 76,695,837 ordinary shares of RM1.00 each in BERNAS (“BERNAS Shares”).
As announced by the Board of Directors of BERNAS (“Board”) on 4 February 2014, the Company had on even date received a notice of unconditional take-over offer from Perspective Lane (M) Sdn Bhd, Kelana Ventures Sdn Bhd, Seaport Terminal (Johore) Sdn Bhd and Acara Kreatif Sdn Bhd (collectively referred to as the “Joint Offerors”), through Maybank Investment Bank Berhad to acquire all the remaining BERNAS Shares not already owned by the Joint Offerors and Tradewinds (M) Berhad, being the person acting in concert with the Joint Offerors (“Offer Shares”) for a cash offer price of RM3.70 per Offer Share (“VGO”).
In view of the impending VGO, the extension of time will allow BERNAS Shares to remain listed on the Main Market of Bursa Securities pending the completion of the VGO. Barring any unforeseen circumstances, the VGO is expected to be completed by the second (2nd) quarter of 2014.
This announcement is dated 12 February 2014.