MULTIPLE PROPOSALS UMW HOLDINGS BERHAD ("UMWH" OR "COMPANY") (I) PROPOSED ACQUISITION OF 50.07% EQUITY INTEREST IN MBM RESOURCES BERHAD ("MBMR") AND THE RESULTANT PROPOSED MANDATORY TAKE-OVER OFFER; AND (II) PROPOSED ACQUISITION OF 10.00% EQUITY INTEREST IN PERUSAHAAN OTOMOBIL KEDUA SDN BHD ("PERODUA") (COLLECTIVELY REFERRED TO AS "PROPOSALS")
| UMW HOLDINGS BERHAD |
| Type | Announcement |
| Subject | MULTIPLE PROPOSALS |
| Description | UMW HOLDINGS BERHAD ("UMWH" OR "COMPANY")
(I) PROPOSED ACQUISITION OF 50.07% EQUITY INTEREST IN MBM RESOURCES BERHAD ("MBMR") AND THE RESULTANT PROPOSED MANDATORY TAKE-OVER OFFER; AND
(II) PROPOSED ACQUISITION OF 10.00% EQUITY INTEREST IN PERUSAHAAN OTOMOBIL KEDUA SDN BHD ("PERODUA")
(COLLECTIVELY REFERRED TO AS "PROPOSALS") |
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(Unless otherwise stated, all abbreviations used herein shall have the same meaning as defined in the Company’s announcements dated 9 March 2018 and 26 March 2018)
Further to the Company’s announcement dated 26 March 2018, on behalf of the Board, Maybank IB wishes to announce that the Company has been notified by Med-Bumikar and its wholly-owned subsidiary, CSSB, that notwithstanding the Company’s intention to extend the validity period of the MBMR Offer, they stand firm by their decisions and would not consider the MBMR Offer.
Notwithstanding the position taken by the board of directors of Med-Bumikar and CSSB, UMWH remains interested to re-engage discussion should Med-Bumikar, CSSB and their shareholders wish to reconsider the MBMR Offer.
On behalf of UMWH, Maybank IB wishes to emphasise that there is no certainty that the MBMR Offer will lead to any conclusive or definitive understanding between the parties. There is therefore no certainty that UMWH will extend the Proposed MO for all the remaining MBMR Shares not already owned by UMWH and persons acting in concert with it, if any.
An appropriate announcement will be made by the Company as and when there are material developments relating to the Proposed MBMR Acquisition. Shareholders are advised to exercise caution when dealing in MBMR Shares and to seek independent advice if they wish to do so.
This announcement is dated 3 April 2018. |
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Announcement Info
| Company Name | UMW HOLDINGS BERHAD |
| Stock Name | UMW |
| Date Announced | 03 Apr 2018 |
| Category | General Announcement for PLC |
| Reference Number | GA1-03042018-00004 |