TAKE-OVERS & MERGERS (CHAPTER 11 OF LISTING REQUIREMENTS) FUTUTECH BERHAD (“FUTUTECH” OR THE “COMPANY”) UNCONDITIONAL MANDATORY TAKE-OVER OFFER BY EGOVISION SDN BHD (“EGOVISION”) THROUGH OSK INVESTMENT BANK BERHAD (“OSK”) AND ASTRAMINA ADVISORY SDN BHD (“ASTRAMINA”) TO ACQUIRE THE FOLLOWING:- (I) ALL THE REMAINING ORDINARY SHARES OF RM0.50 EACH IN FUTUTECH (“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 WARRANT(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 MANDATORY TAKE-OVER OFFER BY EGOVISION SDN BHD (“EGOVISION”) THROUGH OSK INVESTMENT BANK BERHAD (“OSK”) AND ASTRAMINA ADVISORY SDN BHD (“ASTRAMINA”) TO ACQUIRE THE FOLLOWING:- (I) ALL THE REMAINING ORDINARY SHARES OF RM0.50 EACH IN FUTUTECH (“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 WARRANT(S)”) FOR A CASH CONSIDERATION OF RM0.09 PER OFFER WARRANT (COLLECTIVELY REFERRED TO AS THE “OFFER”) |
We refer to the announcements made on 7 September 2011, 8 September 2011 and 22 September 2011 in relation to the Offer. The Board of Directors of Fututech, wishes to announce that the Equity Compliance Unit of the Securities Commission Malaysia (“SC”) had vide its letter dated 23 September 2011 (which was received on 26 September 2011) approved the application by Egovision pursuant to the Offer subject to OSK and Astramina or Egovision submitting the following to the SC: (ii) the effective equity structure of Fututech before and after the implementation of the Offer. Equity condition(s) may be imposed on Fututech in the event that the total Bumiputera equity shareholding is less than 12.50% in Fututech and that Fututech needs to comply with the public shareholding spread requirement. This announcement is dated 26 September 2011. | |
Announcement Info
| Company Name | FUTUTECH BERHAD |
| Stock Name | FUTUTEC |
| Date Announced | 26 Sept 2011 |
| Category | General Announcement |
| Reference No | OI-110926-53000 |