News

Take-over Offer

TAKE-OVER OFFER BY BSTEAD TO ACQUIRE THE FOLLOWING:-

(I) ALL THE REMAINING 89,306,868 ORDINARY SHARES OF RM1.00 EACH IN BOUSTEAD PROPERTIES BERHAD ("BSDPROP") ("BSDPROP SHARES") NOT ALREADY HELD BY BSTEAD REPRESENTING APPROXIMATELY 34.99% OF THE EXISTING ISSUED AND PAID UP SHARE CAPITAL IN BSDPROP AND UP TO 8,474,576 NEW BSDPROP SHARES WHICH MAY BE ALLOTTED AND ISSUED PRIOR TO THE CLOSING DATE OF THE OFFER ARISING FROM THE CONVERSION OF RM35,000,000 NOMINAL VALUE 2003/2008 5-YEAR 4%-REDEEMABLE CONVERTIBLE BOND IN BSDPROP ("RCB") AT THE OFFER PRICE OF RM5.50 PER BSDPROP SHARE; AND

(II) ALL THE OUTSTANDING RCB COMPRISING RM35,000,000 NOMINAL VALUE RCB IN BSDPROP AT THE OFFER PRICE OF RM1.33 PER RM1.00 NOMINAL VALUE RCB.

(COLLECTIVELY REFERRED TO AS THE "OFFER")
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Kindly be advised that the abovenamed Company's additional 21,992,603 new ordinary shares of RM0.50 each issued at RM6.25 per share pursuant to the aforesaid Offer will be granted listing and quotation with effect from 9.00 a.m., Friday, 8 August 2008.