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M&A Versatile Creative given “exit offer” of 50 sen/share

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M&A Versatile Creative given “exit offer” of 50 sen/share Empty M&A Versatile Creative given “exit offer” of 50 sen/share

Post by Cals Tue 22 Apr 2014, 19:55

M&A Versatile Creative given “exit offer” of 50 sen/share
Business & Markets 2014
Written by Ho Wah Foon of theedgemalaysia.com   
Tuesday, 22 April 2014 18:51

KUALA LUMPUR (April 22): Versatile Creative Berhad (VCB) announced that IRIS Healthcare Sdn Bhd, Versatile Credit & Leasing Sdn Bhd, Datuk Tan Say Jim and Datuk Lee Kwee Hiang have collectively requested VCB to undertake a voluntary withdrawal of the listing of VCB from the Bursa Securities.

To facilitate the proposed delisting, the four today offered to acquire all the remaining 11,631,745 shares in VCB (10.51% of the issued and paid-up share capital of the company) not already held by them, at an offer price of RM0.50 per VCB Share.

In their earlier voluntary take-over offer, the offerors had acquired 71,470,815 VCB shares, raising their holdings to 99,011,336 shares (89.49% of the issued and paid-up share capital of VCB).

VCB shares, which have been rising from 42.5 sen in the past several trading days, rose one sen today to close at 48 sen per unit.
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