PETALING JAYA: 7-Eleven Malaysia Holdings Bhd’s compulsory acquisition notice for all the remaining shares in Caring Pharmacy Group Bhd that it does not own will only be posted to dissenting holders after the movement control order (MCO) has been uplifted.
7-Eleven said this will be within two months from March 25, 2020, provided that the MCO is uplifted within this two-month period.
“Due to the MCO imposed by the government, the offeror (7-Eleven’s wholly owned subsidiary Convenience Shopping (Sabah) Sdn Bhd) is unable to procure the attestation of the statutory declaration that must accompany the compulsory acquisition notice,“ 7-Eleven said in a stock exchange filing this morning.
7-Eleven had on March 25, 2020 received a valid acceptance level of 98.77%, which allows it to compulsorily acquire all the remaining Caring shares that it does not own after the mandatory general offer (MGO). 7-Eleven had said that the compulsory acquisition notice will be sent to all dissenting holders within two months.
7-Eleven today posted a notice to the dissenting holders to acquire all the remaining Caring shares it does not own. Any dissenting holder may serve a notice to the offeror to acquire their Caring shares no later than 5pm on or before July 9, 2020, being a date not less than three months from the final closing date of the offer of 5pm on April 10, 2020.
7-Eleven’s MGO for Caring at RM2.60 apiece was triggered after Convenience Shopping and the parties acting in concert proposed to acquire a 25.35% stake in Caring last November, which increased their collective shareholding to 38.57%.
source https://www.thesundaily.my/business/7-eleven-to-post-compulsory-acquisition-notice-after-mco-CF2241620
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