Boustead Holdings Bhd will be removed from the official list of Bursa Malaysia Securities Bhd as the group following the parent organisation LTAT’s voluntary takeover.
In a notification to Bursa Malaysia today, the company said the delisting step is in line with the provisions of Paragraph 16.07(a) of the Main Market Listing Requirements.
Last March, the Armed Forces Fund Board made a voluntary takeover offer for a 40.58 percent interest or 822.51 million shares in Boustead and plans to make it a private company. LTAT, which currently holds a 59.4 percent interest in Boustead, is expected to pay a total of RM703.2 million or 85.5 sen per share for the move.
The takeover was completed in June with LTAT’s shareholding in Boustead amounting to approximately 97.63 percent, thus enabling the delisting of the company as well as the cancellation of the mandatory takeover provision for the remaining shares.
Kindly be advised that the entire issued share capital of BSTEAD will be removed from the Official List of Bursa Malaysia Securities Berhad with effect from 9.00 a.m., Wednesday, 28 June 2023 pursuant to Paragraph 16.07(a) of the Main Market Listing Requirements.
