PETALING JAYA: Caring Pharmacy Group Bhd stated that its shares will be suspended from trading from 9 am on April 20, 2020, following the decision by 7-Eleven Malaysia Holdings Bhd not to maintain its listing after its takeover offer.
According to the group’s Bursa disclosure, at the final closing date of April 10, the offerers collectively hold 215.84 million of the groups shares representing an estimated 99.14% of its total issued shares.
On April 10, 7-Eleven Malaysia said its compulsory acquisition notice for all the remaining shares in Caring Pharmacy 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.
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/caring-shares-to-be-suspended-on-april-20-JC2253759
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