Goldis offer for rest of IGB turns unconditional

PETALING JAYA: The conditional takeover offer by Goldis Bhd to acquire all the remaining 50 sen shares in IGB Corp Bhd at a cash offer price of RM2.88 per offer share became unconditional last Friday.
In a filing with Bursa Malaysia yesterday, Goldis said it had received valid acceptances of more than 50% of the total voting shares of property developer IGB.
Goldis already owned 31.11% or 415.24 million shares in IGB. On Friday, Goldis received valid acceptance for a further 269.03 million IGB shares or about 20.15% from other IGB shareholders. Hence, Goldis' stake in IGB came to 51.26%.
"Accordingly, the offer has become unconditional as to acceptance as of Friday, Oct 17, 2014 (acceptance unconditional date). However, the offer is still subject to the approval of shareholders of Goldis at the extraordinary general meeting of Goldis to be held on Oct 21, 2014," Goldis said.
Goldis said it had extended the offer deadline to Nov 6 this year from Oct 29.