We refer to the Offer Document which sets out the details and the terms and conditions of the Offer, the Notice of Revision and Extension and the Notice of Final Extension.

On behalf of the Joint Offerors, we wish to inform the Holders (including Holders who have accepted the Offer) that the Acceptance Condition for the Offer has been revised today to the condition that:

The Joint Offerors receive, on or before the Final Closing Date, acceptances by the Holders of the Offer Shares, which will result in the Joint Offerors holding in aggregate (together with such Shares that are already acquired, held or entitled to be acquired or held by the Joint Offerors) at least 67% of the total Shares ("Final Acceptance Condition").

A notice of the Final Acceptance Condition ("Final Notice of Revision") will be despatched to Holders on 15 December 2017.

For the avoidance of doubt, the closing time and date for the acceptance of the Offer will remain on the Final Closing Date, i.e., 5.00 p.m. (Malaysian time) on 29 December 2017, being 14 days from the date of the posting of the Final Notice of Revision. Save for the Final Acceptance Condition and the Final Closing Date, all other details and the terms and conditions of the Offer remain unchanged.

Notwithstanding the change in the Acceptance Condition, the Joint Offerors do not intend to maintain the listing status of Hovid.

As set out in Section 4.1(iii) of the Offer Document, in the event that the Joint Offerors receive acceptances resulting in the Joint Offerors holding in aggregate 90% or more of the Shares (excluding treasury shares), the Joint Offerors will procure Hovid to take the requisite steps to withdraw its listing status from the Official List.

In addition, as set out in Section 4.1(iv) of the Offer Document, in the event that:

(i)     the Joint Offerors receive acceptances resulting in the Joint Offerors and persons acting in concert with them hold more than 75% but less than 90% of the Shares; or
(ii)     the public shareholding of Hovid becomes 10% or less of the Shares (excluding treasury shares),

the Joint Offerors may procure Hovid to take the requisite steps to withdraw its listing status from the Official List.

For Holders who have accepted the Offer, their rights for withdrawal of acceptances are set out in Section 3 of Appendix I of the Offer Document.

The detailed disclosure on the level of acceptances of the Offer as at 5.00 p.m. (Malaysian time) on Thursday, 14 December 2017 is set out in Appendix I of this press release in accordance with Paragraph 13.01 of the Rules.

Holders who wish to accept the Offer are advised to refer to the Offer Document for the details, terms and conditions of the Offer and the procedures for acceptance of the Offer. Holders are also advised to carefully consider the Independent Advice Circular dated 9 November 2017 before making any decision. You do not need to take any action if you have already sold all your Shares or Warrants.

Click here for Hovid Berhad Press Release

For and on behalf of
CIMB Investment Bank Berhad

Debbie Leong 
Managing Director
Corporate Finance 
Investment Banking Malaysia 

Perry Lye
Director
Corporate Finance 
Investment Banking Malaysia

SOURCE : CIMB Group 

FOR MORE INFORMATION, PLEASE CONTACT: 
Name : Debbie Leong 
Managing Director
Tel : 03-2261 0998
Email : debbie.leong@cimb.com

Name : Perry Lye
Director
Tel : 03-2261 0361
Email : perry.lyelyh@cimb.com

Name : Eugene Khoo
Senior Associate
Tel : 03-2261 0301
Email : eugene.khoo@cimb.com

Name : Vishnu Chandran
Associate
Tel : 03-2261 0351
Email : vishnu.chandran@cimb.com

--BERNAMA