Media Prima Bhd (MPB) has further extended the closing date for the takeover offer of The New Straits Times Press (Malaysia) Bhd (NSTP) until 5pm on Sept 14, the second and final extension as permitted under the Malaysian Code on Takeovers and Mergers 1998.
In a statement yesterday, MPB said it held a total of 96.85% of shares in NSTP as of Tuesday.
It said the extension would provide ample time for the remaining shareholders to take up the offer to swap their shares.
“It is the intention of Media Prima to safeguard the interests of the remaining shareholders of NSTP by allowing as much time as possible for them to accept the offer,” it said.
It said by migrating to MPB, the shareholders would be able to continue to participate in the growth opportunities of the enlarged group, which included NSTP.
“Holders of NSTP shares should note that the trading of NSTP shares on Bursa Securities has been suspended and is pending delisting.
“As such, those who have not accepted the offer will hold unlisted NSTP shares upon the closing of the offer and will not be able to realise their investments in those shares through trading on Bursa Securities,” it said.
This article appeared in The Edge Financial Daily, August 19, 2010.
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