Caring Pharmacy to be delisted on May 8

The company had on April 14 submitted an application to the exchange for the withdrawal of its listing status pursuant to paragraphs 16.07(a) and 16.08 of the Main Market Listing Requirements of Bursa Securities. (Caring Pharmacy logo seen at an event at a Mall - File pic)

KUALA LUMPUR: Caring Pharmacy Group Bhd (Caring) will be delisted from Bursa Malaysia on May 8,2020, the company said in a filing with the exchange.

The company had on April 14 submitted an application to the exchange for the withdrawal of its listing status pursuant to paragraphs 16.07(a) and 16.08 of the Main Market Listing Requirements of Bursa Securities.

Its shares were suspended from trading on April 20, following the decision by 7-Eleven Malaysia Holdings Bhd (SEM) not to maintain its listing after its takeover offer through a mandatory general offer (MGO) reached an acceptance level of 90.91% (on March 20).

SEM’s MGO for Caring at RM2.60 a piece was triggered after its wholly-owned subsidiary Convenience Shopping (Sabah) Sdn Bhd and the parties acting in concert proposed to acquire a 25.35% stake in Caring in November last year, which increased their collective shareholding to 38.57%.— Bernama