Friday, October 14, 2011

Kulim's takeover offer for Sindora turns unconditional

KUALA LUMPUR: KULIM (M) BHD []'s takeover of SINDORA BHD [] has become unconditional and the offer will remain open for acceptances until Wednesday, Oct 18.

Sindora said on Friday, Oct 14 the joint advisers, on behalf of Kulim, had on Thursday informed the board that Kulim had obtained the Ministry of International Trade and Industry's approval for the offer.

'Following the above, the joint advisers have informed Sindora that the offer has become wholly unconditional. The offer will remain open for acceptances until 5pm on Oct 18,' it said.

Kulim does not intend to maintain Sindora's listing status and intends to invoke Section 222 of the Capital Markets and Services Act 2007 to compulsorily acquire any outstanding offer shares for which valid acceptances have not received.

As at Oct 3, Kulim held 92.47 million shares or 96.33% of the issued and paid-up share capital of Sindora.

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