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NewsHighlight Singapore tycoon Peter Lim makes MGO for TMC Life Sciences
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Highlight Singapore tycoon Peter Lim makes MGO for TMC Life Sciences
by Cals Fri 08 Aug 2014, 03:13
| Highlight Singapore tycoon Peter Lim makes MGO for TMC Life Sciences |
| Business & Markets 2014 |
| Written by Levina Lim of theedgemalaysia.com |
| Thursday, 07 August 2014 20:12 KUALA LUMPUR (August 7): Singapore billionaire, Peter Lim Eng Hock has launched a mandatory general offer of TMC Life Sciences Bhd for the remaining 40.76% of TMC shares he does not own at 48 sen per share, and at 8 sen per offer warrant. In a filing with Bursa Malaysia today, TMC Life Sciences Bhd announced that it received a notice of a mandatory take-over offer from Lim and his wholly-owned investment vehicles, Sasteria (M) Pte Ltd (SAS Malaysia) and Gilberta Investments Ltd (GIL) The offer was launched when SAS Malaysia acquired 213.84 million shares of 10 sen each, representing 26.65% equity interest in TMC for RM102.64 million. GIL holds 261.47 million TMC shares, representing approximately 32.59% stake of TMC as at July 30, as well as 130.73 million three-year 2011/2014 issued TMC warrants, or 32.59% of total outstanding warrants. Lim intends to maintain the listing status of TMC on the main market of Bursa Securities. “The board will hold an emergency board meeting to deliberate the offer and make an announcement in due course,” said TMC. The offer shall remain open for acceptances until 5pm, not less than 21 days from the date of the notice (August 20). TMC Life closed at 46.5 sen yesterday, rising 19.2% from 39 sen two months ago. |
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