Kretam Holdings Bhd announced today the receipt of notice of unconditional takeover offer from AmInvestment Bank Bhd on behalf of Nasalim Sdn Bhd, Santraprise Sdn Bhd and Lim Nyuk Sang@Freddy Lim. The offer is to acquire all the ordinary shares of RM1 each in Kretam not already held by the joint offerors and persons acting in concert for a cashoffer price of RM1.43 per offer share, KHB said in a filing with Bursa Malaysia.
On August 3, Lim acquired, via direct business transactions, an aggregrate of 4.703 million Kretam shares from Lai Ah Fong and Pang Fong Tsao, representing 1.92 per cent of the enlarged Kretam shares for RM1.43 per share. On the same day, Lim, Santraprise, Low Seng Lee and Lim Nyek Kiong Kiong@LimNyuk Min served notice of conversion for an aggrerate of 57.039 million irrredemable convertible unsecured loan stocks 2003/2010 (ICULS). Lim's direct shareholding in Kretam shares has increased from 22.57 per centto 41.48 per cent and exceeded 33 per cent of the voting shares of Kretam. -- Bernama
