Sime Darby to compulsorily acquire remaining NBPOL shares

PETALING JAYA: Sime Darby Bhd will compulsorily acquire all the remaining New Britain Palm Oil Ltd (NBPOL) shares under the proposed privatisation of the in UK and Papua New Guinea-listed company.
Sime Darby, which had secured 98.8% of NBPOL, intends to acquire the remaining shares from NBPOL shareholders who had yet to accept the offer at £7.15 (RM39.18) per share.
In a stock exchange filing yesterday, Sime Darby said its wholly-owned unit, Sime Darby Plantation Sdn Bhd, had yesterday despatched the acquisition notice to holders of the outstanding NBPOL shares to acquire their shares.
"Following the completion of the compulsory acquisition, NBPOL will become an indirect wholly-owned subsidiary of Sime Darby," it said.
"In addition, under the listing rules of the Port Moresby Stock Exchange Ltd, Sime Darby expects that NBPOL shares will be suspended from trading on March 31, 2015 and that NBPOL will be automatically removed from the Official List of the exchange at the close of trading on April 7, 2015," it said.
Sime Darby launched a conditional general offer (GO) to acquire all stakes in NBPOL at £7.15 per share or £1.07 billion in cash on Oct 9, 2014.