Boustead Holdings Bhd (BHB) has received a conditional voluntary take-over offer to acquire all the remaining 822.51 million ordinary shares (40.58 percent) in BHB for 85.5 sen per share from Lembaga Tabung Angkatan Tentera (LTAT).
BHB said as of the latest practicable date, LTAT directly holds 1.20 billion BHB shares representing 59.42 percent of the total issued shares in BHB.
“However, the offer is conditional upon the finance minister’s approval and Bank Negara’s recommendation and approval under Section 87 of the Financial Services Act 2013 and Section 99 of the Islamic Financial Services Act 2013 to allow the offerer to acquire up to 100 per cent equity interest in BHB,” it said in a filing with Bursa Malaysia today.
BHB also said that LTAT does not intend to maintain the listing status of BHB.
- Bernama
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