KUALA LUMPUR: Boustead Holdings Bhd (BHB) has set May 22, 2023 as the first closing date for the conditional voluntary takeover offer by Lembaga Tabung Angkatan Tentera (LTAT) to acquire the remaining shares in BHB.
In an independent advice circular filed with Bursa Malaysia today, BHB said that the duration of the offer would remain open for acceptance until 5 pm on Monday, May 22, 2023, being the first closing date.
It said that if the offer has become or been declared unconditional prior to the first closing date, the offeror (LTAT) will keep the offer open for acceptances for not less than 14 days thereafter, which shall not be later than the 74th day from the posting date.
"In any event, the offeror shall not close the offer before the first closing date. If the offer remains conditional on the first closing date, the revised Bank Negara Malaysia (BNM) condition must be fulfilled within 21 days after the first closing date.
"If the revised BNM condition is fulfilled after the first closing date, the offer will remain open for acceptances until 5 pm on June 26, 2023, being the 95th day from the posting date.
"However, if the revised BNM condition is not fulfilled by June 12, 2023, the offer shall lapse and cease to be capable of acceptance,” it said.
The offer by LTAT is part of the move to take BHB private.
LTAT directly holds 1.5 billion BHB shares representing 74.92 per cent of the total issued shares in the company as of the latest practicable date. - Bernama
