Iris extends Versatile Creative offer again

Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Thursday, 14 November 2013 13:44
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KUALA LUMPUR (Nov 14): Iris Corp Bhd (ICB) has again extended the
duration for acceptance of its proposed offer for the remaining shares in
Versatile Creative Bhd (VCB).
In a statement to the exchange today, ICB, a digital-identity specialist, said the
closing date for the offer's acceptance is revised to this December 2 from
November 18.
This is the second extension for the offer of shares in VCB, a packaging
product manufacturer. ICB had announced the first extension on October 31
this year.
Today, Iris said "a copy of the press notice on the above-mentioned matters is
attached.
"Notice of the said extension will be posted to the holders of the offer shares
accordingly (including the holders of the offer shares who have accepted the
proposed offer)."
ICB had last September offered to buy the remaining shares in VCB for 50 sen
each.
ICB, and VCB said the joint offerors include ICB's wholly-owned unit Iris
Healthcare Sdn Bhd (IHSB), Datuk Tan Say Jim and Datuk Lee Kwee Hiang.
The joint offerors collectively hold 25% or 27.54 million shares in VCB then.
They are acquiring the remaining 75% stake comprising 83.1 million shares in
VCB.
Latest updates by ICB today indicate that the joint offerors owned 72.77% of VCB as of yesterday