As the value of the company is tied to the performance of the company, it is in the interest of the warring shareholders to argue and fight outside the company.
KUALA LUMPUR: SIG Gases Bhd has received an offer from Air Liquide Malaysia Sdn Bhd for the acquisition of its wholly owned subsidiary, Southern Industrial Gas Sdn Bhd (SIGSB), for RM226.59mil cash
The offer for 100% equity interest in SIGSB includes the company's 40% minority shareholding in Iwatani-SIG Industrial Gases Sdn Bhd.
The offer is subject to adjustment, less bank borrowings plus cash and bank balances as detailed in the offer letter.
It will remain open for acceptance until March 29, 2019, following which it will lapse.
"Further announcement(s) will be made upon the decision of the Board in relation to the Offer and upon the execution of the sales and purchase agreement in relation to the Offer, detailing the terms, effects and all relevant disclosures in relation to the Offer pursuant to the Main Market Listing Requirements of Bursa Malaysia Securities Berhad.
"The shareholders of SIGGAS and potential investors are advised to exercise caution when dealing in SIGGAS’s shares, as there is no certainty that the Offer may proceed or may result in a binding agreement," it said.
Trading in SIG Gases shares was halted between 2.30pm and 3.30pm. At 3.40pm, the counter was trading seven sen or 7.8% higher at 97 sen a share on the back of 1.98 million units done.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
