EVERGREEN FIBREBOARD BERHAD ("EFB" or the "Company")PROPOSED ACQUISITION BY EVERGREEN FIBREBOARD (NILAI) SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF EFB, OF THE BUSINESS OF HUME FIBREBOARD SDN BHD ("HFSB")

General Announcement
Reference No MM-080805-56099

 

Submitting Merchant Bank
:
 AMINVESTMENT BANK BERHAD
Company Name
:
 EVERGREEN FIBREBOARD BERHAD
Stock Name
:
 EVERGRN
Date Announced
:
 05/08/2008



Type
:
 Announcement
Subject
:
EVERGREEN FIBREBOARD BERHAD ("EFB" OR THE "COMPANY")

PROPOSED ACQUISITION BY EVERGREEN FIBREBOARD (NILAI) SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF EFB, OF THE BUSINESS OF HUME FIBREBOARD SDN BHD ("HFSB") FROM HFSB FOR A TOTAL PURCHASE CONSIDERATION OF RM213,230,000 TO BE SATISFIED PARTLY IN CASH OF RM170,000,000 AND PARTLY BY WAY OF ISSUANCE OF 33,000,000 NEW ORDINARY SHARES OF RM0.25 EACH IN EFB ("SHARE") AT AN ISSUE PRICE OF RM1.31 PER SHARE ("PROPOSED ACQUISITION")

Contents
:
Reference is made to the announcements dated 23 June 2008 and 23 July 2008 in relation to the Proposed Acquisition.

On behalf of the Board of Directors of EFB, AmInvestment Bank Berhad (a member of the AmInvestment Bank Group) is pleased to announce that the Ministry of International Trade and Industry ("MITI") has given its approval for the Proposed Acquisition vide its letter dated 31 July 2008 (which was received on 5 August 2008).

The approval of the MITI is subject to the condition that EFB obtains the approval of the Securities Commission and compliance by EFB with the Guideline on Acquisition of Interests, Mergers and Take-overs by Local and Foreign Interests.

This announcement is dated 5 August 2008.
06-Jun-2011