TMC Life Sciences gets takeover offer from Singapore tycoon

KUALA LUMPUR: TMC Life Sciences Bhd has received a takeover offer notice from Singapore tycoon Peter Lim at 48 sen a share and eight sen a warrant after he raised his combined stake to 59.24%.

The notice of takeover was made on Thursday after Sasteria (M) Pte Ltd bought 213.84 million shares or 26.65% stake for RM102.64mil or 48 sen a share in an off-market deal.

The shares were acquired from Juara Sejati Sdn Bhd, BL Capital Sdn Bhd, Selat Makmur Sdn Bhd, Teras Mewah Sdn Bhd and Inter-Pacific Capital Bhd - which are part of the Berjaya Group.

TMC added Gilberta Investments Ltd, which is acting in concert with Sasteria, holds 261.46 million TMC shares or 32.59% and 130.73 million three-year warrants 2011/2014 or 32.59% of the total outstanding warrants.

Upon completion of the acquisition, Lim and parties acting in concert held 59.24% of TMC shares and also 130.73 million warrants.

TMC shares closed flat at 46.5 sen and the warrants shed 0.5 sen to 7.5 sen.
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Next In Business News

Bursa continues to edge lower as Wall Street stays flattish
Trading ideas: MISC, SP Setia, Gas Malaysia, Mega First Corp, Dayang, Sunway REIT, Magnum, Dialog, Kobay and AME Elite
Proton finalises deal to sell and service EVs
China plans more fiscal stimulus as economy outlook darkens
MAA: Total vehicle sales up more than 500% y-o-y in July
Federal Court rules in favour of SC over auditor
S P Setia secures RM1.67bil sales in 1H
Ringgit eases against US dollar
AmBank poised for positive returns in FY23
Mixed views on Kuala Lumpur Kepong’s 4Q outlook

Others Also Read