Business
Voluntary Conditional Cash Offer for the Company
Voluntary Conditional Cash Offer for the Company.
About this update from Panther Metals Plc
[{"type":"text","content":"\n \nRNS Number : 3234Q Asian Plantations Limited 29 August 2014 \n \n\n \n29 August 2014\n \nAsian Plantations Limited\n(\"Asian Plantations\" or the \"Company\")\n \nVoluntary Conditional Cash Offer for the Company\n \nThe board of directors of Asian Plantations Limited (the \"Board\") notes the announcement issued today by Merrill Lynch (Singapore) Pte Ltd acting for and on behalf of FELDA Global Ventures Holdings Berhad (\"FELDA\" or the \"Offeror\")(the \"Offer Announcement\") in which FELDA states its intention to make a voluntary conditional cash offer (the \"Offer\") for all the issued ordinary shares of no par value in the Company (excluding any treasury shares, of which there are currently none) (the \"Ordinary Shares\") at a price of 220p per Ordinary Share. This offer represents a premium of 3.53 per cent. to the closing mid-market price of 212.5p per Ordinary Share on 28 August 2014, being the latest practicable date prior to this announcement. The Offer values the entire issued share capital of Asian Plantations at approximately £102.9m.\n \nThe Offer Announcement (a copy of which is provided below) also contains a proposal in respect of certain outstanding share options (the \"Option Proposal\") and proposals in respect of certain convertible notes issued by the Company (the \"Notes Offer\"). \n \nFELDA has received irrevocable undertakings to accept the Offer, as detailed in the Offer Announcement, in respect of approximately 59.9 per cent. of the Ordinary Shares from certain shareholders and directors of the Company. \n \nFurther Details of the Offer\nFurther details of the Offer, the Option Proposal and the Notes Offer are set out in the attached Offer Announcement. Shareholders are advised to refer to and carefully review the full text of the Offer Announcement as it contains important information, including information on the Offeror, the Offer, the rationale for the Offer and the Offeror's intentions for the Company.\n \nOffer Document\nA document which will contain the terms and conditions of the Offer (the \"Offer Document\"), and enclose the appropriate form(s) of acceptance will be dispatched to Shareholders and Option Holders not earlier than 14 days and not later than 21 days following the date of...