KUALA LUMPUR: The suspension of Caring Pharmacy Bhd’s shares, following the acceptance period of the mandatory general offer (MGO), will take effect from 9am, April 20 instead of April 17.
In a statement today, the company said the offerer of the MGO, 7-Eleven Malaysia Holdings Bhd (SEM), does not intend to maintain the listing status of the retail pharmacy company.
“As the offeror, ultimate offeror and persons acting in concert (PACs) collectively hold more than 90% of Caring shares as a result of the offer, and (as) the offeror does not intend to maintain the listing status of Caring, Bursa Malaysia will suspend the trading (of Caring shares) upon the expiry of five market days from the close of the offer,” it added.
As of Friday March 20, the MGO had reached an acceptance level of 90.91%.
Meanwhile, the acceptance period of the MGO for Caring shares has been extended to 5pm on April 10, from March 27 previously.
“Shareholders who wish to accept the offer are advised to refer to the offer document for the details as well as the procedures for acceptance of the offer.
“They are also advised to consider carefully the independent advice circular dated March 16 issued by Mercury Securities Sdn Bhd before making any decision,” it added.
On Nov 28, 2019, SEM’s wholly-owned subsidiary, Convenience Shopping (Sabah) Sdn Bhd, and PACs had issued a conditional MGO over Caring for RM2.60 a share, valued at RM566 mil.
As of mid-day, Caring shares on Bursa Malaysia were unchanged at RM2.57, with 28,900 shares traded. – March 23, 2020, Bernama
