Ingress Corporation Bhd : TAKE-OVERS & MERGERS (CHAPTER 11 OF LISTING REQUIREMENTS) RECEIPT OF NOTICE OF CONDITIONAL TAKE-OVER OFFER FROM RAMDAWI SDN BHD, DATUK RAMELI BIN MUSA AND DATO' DR. AB WAHAB BIN ISMAIL (COLLECTIVELY REFERRED TO AS THE "JOINT OFFERORS") THROUGH MAYBANK INVESTMENT BANK BERHAD ("MAYBANK IB")
04/16/2013 | 07:25am US/Eastern
The Board of Directors of Ingress ("Board") wishes to announce that the Company has on 16 April 2013 received a notice of the conditional take-over offer from the Joint Offerors through Maybank IB to acquire all the remaining ordinary shares of RM1.00 each in Ingress not already owned by the Joint Offerors ("Offer Shares") for a cash offer price of RM1.85 per Offer Share ("Offer").
In accordance with the Malaysian Code on Take-Overs and Mergers, 2010, the Board will appoint an Independent Adviser to advise the Independent Directors and the holders of the Offer Shares on the reasonableness of the Offer. The announcement of the appointment of the Independent Adviser will be made in due course.
The notice will be posted to the holders of the Offer Shares within seven (7) days of its receipt and a copy is enclosed herewith.
This announcement is dated 16 April 2013.