KUALA LUMPUR: The managing director of NV Multi Corp Bhd Datuk Kong Hon Kong and his son, Kong Yew Foong and parties acting in concert have offered to acquire the bereavement care company for about RM295 million or 78 sen a share. This a premium of 21.8% above Friday, Oct 8's last traded price of 64 sen.
NV Multi said on Friday, Oct 8 that a Mutual Tactic Sdn Bhd had offered to acquire the 378.34 million shares of the company, its entire business and undertakings, including assets and liabilities. The share price closed five sen lower at 64 sen on Friday.
The offer price would be satisfied by about RM212 million cash and about RM83 million as the amount remaining owing by Mutual Tactic to NV Multi. The cash portion would be adjusted to ensure all entitled shareholders of NV Multi, except for certain shareholders.
Kong and his son, who is the executive director of NV Multi, are also directors of Mutual Tactic, which has a paid-up of RM2. The other directors of Mutual Tactic are Ng Teck Wah and Lim Chih Li @ Lin Zhili.
Mutual Tactic is a unit of Peace Ventures Ltd, which is incorporated in The Cayman Islands.
'Upon the completion of the proposed acquisition, NV Multi may be classified as a cash company,' it said.
Parties acting in concert with the Kongs are Tan Poh Hwa, Anugaris Sdn Bhd and Meridian Location Sdn Bhd, collectively the 'certain shareholders' in this corporate exercise.'' They collectively hold 106.269 million share, representing 28.09% stake in NV Multi.
NV Multi said on Friday, Oct 8 that a Mutual Tactic Sdn Bhd had offered to acquire the 378.34 million shares of the company, its entire business and undertakings, including assets and liabilities. The share price closed five sen lower at 64 sen on Friday.
The offer price would be satisfied by about RM212 million cash and about RM83 million as the amount remaining owing by Mutual Tactic to NV Multi. The cash portion would be adjusted to ensure all entitled shareholders of NV Multi, except for certain shareholders.
Kong and his son, who is the executive director of NV Multi, are also directors of Mutual Tactic, which has a paid-up of RM2. The other directors of Mutual Tactic are Ng Teck Wah and Lim Chih Li @ Lin Zhili.
Mutual Tactic is a unit of Peace Ventures Ltd, which is incorporated in The Cayman Islands.
'Upon the completion of the proposed acquisition, NV Multi may be classified as a cash company,' it said.
Parties acting in concert with the Kongs are Tan Poh Hwa, Anugaris Sdn Bhd and Meridian Location Sdn Bhd, collectively the 'certain shareholders' in this corporate exercise.'' They collectively hold 106.269 million share, representing 28.09% stake in NV Multi.
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