Notice of Conditional Take-Over Offer

 

TIDMTNJ 
 
RNS Number : 2688Q 
Tanjong PLC 
30 July 2010 
 

 
TANJONG PUBLIC LIMITED COMPANY 
-     Receipt of Notice of Conditional Take-Over Offer from CIMB Investment Bank 
Berhad, RHB Investment Bank Berhad, RBS Asia Advisers (Malaysia) Sdn Bhd and 
Standard Chartered Bank 
 
The Board of Directors of Tanjong public limited company ("Tanjong" or 
"Company") ("Board") hereby announces that the Company has today received Notice 
of Take-Over Offer ("Offer") from CIMB Investment Bank Berhad, RHB Investment 
Bank Berhad, RBS Asia Advisers (Malaysia) Sdn Bhd and Standard Chartered Bank, 
on behalf of TANJONG CAPITAL SDN BHD ("TCSB" or "Offeror") to acquire all the 
ordinary shares of 7.5 pence each in Tanjong ("Offer Shares") for a cash offer 
price of RM21.80 per Offer Share ("Offer Price") ("Notice"). 
 
The Offer shall be conditional upon the following: 
 
(a) The Offeror having, by virtue of acceptances of the Offer, acquired or 
unconditionally contracted to acquire: 
 
(i)   not less than 90% of the Offer Shares; and 
(ii)   not less than 90% of the voting shares attached to the Offer Shares; and 
 
(b)  consent or approval of any other relevant authorities or parties, if 
required, having been obtained. 
 
The Board has appointed MIMB Investment Bank Berhad and JP Morgan Securities 
(Malaysia) Sdn Bhd as the Independent Advisers to advise the Independent 
Directors and the minority shareholders on the reasonableness of the Offer. The 
appointment as the Independent Advisers is subject to the approval of the 
Securities Commission. The Board has also approved the appointment of Cheong Kee 
Fong & Co and Slaughter and May as legal advisers of the Company on Malaysian 
law and English law respectively. 
 
The Independent Directors will inform holders of the Offer Shares of their 
recommendation on the Offer within ten (10) days from the posting of the offer 
document. At this time the Board is not seeking an alternative person to make a 
take-over offer for the Offer Shares. 
 
The Offeror has received irrevocable undertakings from persons acting in concert 
with it to accept 189,385,819 Offer Shares representing 46.96% of the issued and 
paid share capital of the Company. 
 
The Notice will be posted to the holders of the Offer Shares within seven (7) 
days of its receipt and a copy is enclosed herewith. 
 
This announcement is dated 30 July 2010. 
http://www.rns-pdf.londonstockexchange.com/rns/2688Q_-2010-7-30.pdf 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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