Offer for Oldtown at RM3.18 a piece open till March 13
20 Feb 2018 / 19:47 H.
PETALING JAYA: Dutch coffee company Jacobs Douwe Egberts’ (JDE) offer for Oldtown Bhd at RM3.18 a share in cash, will be open for acceptance until March 13, 2018.
In an offer document filed with the stock exchange today, JDE said it has secured irrevocable undertaking from shareholders holding 51.45% and is looking to procure the remaining shares with an eye to delist and privatise Oldtown.
JDE has agreed to pay a good faith fee being an amount of US$3.48 million or one percent of the total offer price to Oldtown.
The stock closed unchanged at RM3.15, with some 37,800 shares changing hands.