KUALA LUMPUR: Ornapaper Bhd
has received an conditional mandatory takeover from Intisari Delima Sdn Bhd to acquire the remaining shares in the company not owned by it at RM1.06 per share.
In a filing with Bursa Malaysia, the corrugated board maker said the takeover offer was triggered after Intisari acquired 15,000 shares, or 0.02% in Ornapaper from the open market, increasing the shareholding of Intisari Delima and persons acting in concert (PACs) with it to 33.01%.
It said the three joint offerors, namely Sai Ah Sai, Sai Han Siong and Sai Chin Hock, intend to maintain the listing status of the company and do not intend to compulsorily acquire remaining shares under Section 222(1) of the CMSA.
The offer price of RM1.06 sen is at a discount to Ornapaper's last traded price of RM1.10.
The offer will remain open for acceptances until Nov 2, 2022.
