| Type | Announcement |
| Subject | TAKE-OVERS & MERGERS (PARAGRAPH/RULE 9.19 (47A)) |
| Description |
EKOVEST BERHAD ("EKOVEST" OR THE "COMPANY") ACQUISITION OF ORDINARY SHARES AND WARRANTS IN PLS PLANTATIONS BERHAD ("PLS"), A 32.84%-OWNED ASSOCIATE OF EKOVEST, FROM RELATED PARTIES FOR A TOTAL CASH CONSIDERATION OF RM85,750,055 ("ACQUISITIONS") AND THE RESULTANT MANDATORY GENERAL OFFER TO ACQUIRE ALL THE REMAINING SECURITIES IN PLS NOT ALREADY HELD BY EKOVEST AFTER THE ACQUISITIONS ("MGO") (COLLECTIVELY REFERRED TO AS "PROPOSALS") |
We refer to the previous announcements in relation to the Proposals. Unless otherwise stated, the terms used herein shall have the same meaning as those defined in the said announcements.
On behalf of the Board, RHB Investment Bank and Astramina Advisory wish to announce that the direct business transactions in respect of the Acquisition Shares and Acquisition Warrants have been effected this evening following the SPAs becoming unconditional and the serving of the Notice on the board of directors of PLS to acquire all the remaining Offer Securities not already held by Ekovest. This marks the completion of the Acquisitions.
Following the completion of the Acquisitions, PLS is now a 57.38%-owned subsidiary of Ekovest whereby Ekovest’s shareholding in PLS is now 208,401,500 PLS Shares representing 57.38% of the total issued shares of PLS whilst its warrant holding in PLS is now 47,965,750 PLS Warrants representing approximately 29.45% of the outstanding PLS Warrants.
This Announcement is dated 30 October 2020.
| Company Name | EKOVEST BERHAD |
| Stock Name | EKOVEST |
| Date Announced | 30 Oct 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-30102020-00184 |