Super Enterprise to be delisted on Friday

by **Cals** Mon 14 Sep 2015, 18:08

Super Enterprise to be delisted on Friday

By Supriya Surendran / theedgemarkets.com | September 14, 2015 : 5:44 PM MYT

KUALA LUMPUR (Sept 14): [size=16]Super Enterprise Holdings Bhd ([You must be registered and logged in to see this image.] Valuation: 1.40, Fundamental: 2.50) will be delisted from the Main Market of Bursa Malaysia this Friday (Sept 18).

The company said that it has received a letter today from Bursa, which stated that pursuant to Paragraph 16.07(a) of the Main Market Listing Requirements, the entire issued share capital of Super Enterprise will be removed from the official list of Bursa Securities ([You must be registered and logged in to see this image.] Valuation: 2.10, Fundamental: 2.30) with effect from 9am on Friday.

Nasdaq-listed Multi-Color Corp (MCC) had on June 17 launched a takeover offer to acquire all the shares in Super Enterprise, which manufactures product decorating and labelling solutions and is involved in the sale of labelling machines, at an offer price of RM3.80 per Super Enterprise share or RM158.4 million.

The offer became unconditional on Aug 11, after MCC’s indirect wholly-owned subsidiary MCC LABL2 Netherlands BV, which made the takeover offer, received valid acceptances for 37.87 million shares or 90.87% in the company.

Following the takeover, Super Enterprise’s shares were then suspended from trading with effect from Sept 4.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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