Notice of Conditional Take-Over Offer
30 7월 2010 - 9:03PM
UK Regulatory
TIDMTNJ
RNS Number : 2688Q
Tanjong PLC
30 July 2010
TANJONG PUBLIC LIMITED COMPANY
- Receipt of Notice of Conditional Take-Over Offer from CIMB Investment Bank
Berhad, RHB Investment Bank Berhad, RBS Asia Advisers (Malaysia) Sdn Bhd and
Standard Chartered Bank
The Board of Directors of Tanjong public limited company ("Tanjong" or
"Company") ("Board") hereby announces that the Company has today received Notice
of Take-Over Offer ("Offer") from CIMB Investment Bank Berhad, RHB Investment
Bank Berhad, RBS Asia Advisers (Malaysia) Sdn Bhd and Standard Chartered Bank,
on behalf of TANJONG CAPITAL SDN BHD ("TCSB" or "Offeror") to acquire all the
ordinary shares of 7.5 pence each in Tanjong ("Offer Shares") for a cash offer
price of RM21.80 per Offer Share ("Offer Price") ("Notice").
The Offer shall be conditional upon the following:
(a) The Offeror having, by virtue of acceptances of the Offer, acquired or
unconditionally contracted to acquire:
(i) not less than 90% of the Offer Shares; and
(ii) not less than 90% of the voting shares attached to the Offer Shares; and
(b) consent or approval of any other relevant authorities or parties, if
required, having been obtained.
The Board has appointed MIMB Investment Bank Berhad and JP Morgan Securities
(Malaysia) Sdn Bhd as the Independent Advisers to advise the Independent
Directors and the minority shareholders on the reasonableness of the Offer. The
appointment as the Independent Advisers is subject to the approval of the
Securities Commission. The Board has also approved the appointment of Cheong Kee
Fong & Co and Slaughter and May as legal advisers of the Company on Malaysian
law and English law respectively.
The Independent Directors will inform holders of the Offer Shares of their
recommendation on the Offer within ten (10) days from the posting of the offer
document. At this time the Board is not seeking an alternative person to make a
take-over offer for the Offer Shares.
The Offeror has received irrevocable undertakings from persons acting in concert
with it to accept 189,385,819 Offer Shares representing 46.96% of the issued and
paid share capital of the Company.
The Notice will be posted to the holders of the Offer Shares within seven (7)
days of its receipt and a copy is enclosed herewith.
This announcement is dated 30 July 2010.
http://www.rns-pdf.londonstockexchange.com/rns/2688Q_-2010-7-30.pdf
This information is provided by RNS
The company news service from the London Stock Exchange
END
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