TAKE-OVERS & MERGERS (CHAPTER 11 OF LISTING REQUIREMENTS) FUTUTECH BERHAD (“FUTUTECH” OR THE “COMPANY”) UNCONDITIONAL TAKE-OVER OFFER BY EGOVISION SDN BHD (“EGOVISION” OR THE “OFFEROR”) THROUGH OSK INVESTMENT BANK BERHAD (“OSK”) AND ASTRAMINA ADVISORY SDN BHD (“ASTRAMINA”) (“JOINT ADVISERS”) TO ACQUIRE THE FOLLOWING: (I) ALL THE REMAINING ORDINARY SHARES OF RM0.50 EACH IN FUTUTECH BERHAD (“FUTUTECH SHARE(S)”) NOT ALREADY HELD BY THE OFFEROR (“OFFER SHARE(S)”) FOR A CASH CONSIDERATION OF RM0.50 PER OFFER SHARE; AND (II) ALL THE REMAINING WARRANTS NOT ALREADY HELD BY THE OFFEROR THAT HAVE NOT BEEN CONVERTED INTO FUTUTECH SHARES ON OR PRIOR TO THE CLOSING OF THE OFFER (“OFFER WARRANTS(S)”) FOR A CASH CONSIDERATION OF RM0.09 PER OFFER WARRANT (COLLECTIVELY REFERRED TO AS THE “OFFER”)
| FUTUTECH BERHAD |
| Type | Announcement |
| Subject | TAKE-OVERS & MERGERS (CHAPTER 11 OF LISTING REQUIREMENTS) |
| Description | FUTUTECH BERHAD (“FUTUTECH” OR THE “COMPANY”) UNCONDITIONAL TAKE-OVER OFFER BY EGOVISION SDN BHD (“EGOVISION” OR THE “OFFEROR”) THROUGH OSK INVESTMENT BANK BERHAD (“OSK”) AND ASTRAMINA ADVISORY SDN BHD (“ASTRAMINA”) (“JOINT ADVISERS”) TO ACQUIRE THE FOLLOWING: (I) ALL THE REMAINING ORDINARY SHARES OF RM0.50 EACH IN FUTUTECH BERHAD (“FUTUTECH SHARE(S)”) NOT ALREADY HELD BY THE OFFEROR (“OFFER SHARE(S)”) FOR A CASH CONSIDERATION OF RM0.50 PER OFFER SHARE; AND (II) ALL THE REMAINING WARRANTS NOT ALREADY HELD BY THE OFFEROR THAT HAVE NOT BEEN CONVERTED INTO FUTUTECH SHARES ON OR PRIOR TO THE CLOSING OF THE OFFER (“OFFER WARRANTS(S)”) FOR A CASH CONSIDERATION OF RM0.09 PER OFFER WARRANT (COLLECTIVELY REFERRED TO AS THE “OFFER”) |
The Board of Directors of Fututech (“Board”) hereby announce that the Company has today received a notice of unconditional take-over offer (“Notice”) in accordance with the Malaysian Code on Take-Overs and Mergers, 2010 (“Code”) from the Joint Advisers respectively, on behalf of the Offeror to acquire the following:- (a) all the remaining 44,467,226 Fututech Shares, representing approximately 49.01% of the issued and paid-up share capital of Fututech not already held by the Offeror as at the date of the aforesaid Notice being 7 September 2011 at a cash consideration of RM0.50 per Offer Share (“Offer Price”); and (b) all the remaining 18,589,448 Warrants not already held by the Offeror as at 7 September 2011 that have not been converted into Fututech Shares on or prior to the closing of the Offer at a cash consideration of RM0.09 per Offer Warrant (“Offer Warrant Price”). The Board does not intend to seek an alternative person to make a take-over offer for the Offer Shares and/or Offer Warrants. A copy of the Notice is enclosed herewith. Copies of the Notice will also be posted to all the holders of the Offer Shares and Offer Warrants within seven (7) days from the date of this Announcement. This announcement is dated 7 September 2011. | |
Announcement Info
| Company Name | FUTUTECH BERHAD |
| Stock Name | FUTUTEC |
| Date Announced | 7 Sept 2011 |
| Category | General Announcement |
| Reference No | OI-110907-57845 |