Conditional take-over offer by IJM for all the
ordinary shares of RM1.00 each of Road Builder (M) Holdings Bhd (“RBH”)
at the offer price of RM3.00 per share to be satisfied by the
issuance of up to 273,293,885 new ordinary shares of RM1.00 each of
IJM (“IJM Shares”) on the basis of one (1) new IJM Share at the
issue price of RM6.00 for every two (2) existing RBH Shares (“Offer
Shares”) held (“Offer”)
We refer to the
announcement dated 14 March 2007
and the offer document dated 10 January 2007 in relation to the
Offer wherein it was stated, amongst others, that the Offer is
conditional upon the Proposed Acquisition becoming unconditional
("Condition").
Aseambankers Malaysia Berhad on behalf of IJM wishes to announce
that the Company has decided to waive the Condition to the Offer. As
a result of this waiver, the Offer has become unconditional as of 16
March 2007 and the Company will not seek a further extension of time
from the Securities Commission for the Company to fulfil the
remaining Condition to the Offer.
Further thereto and pursuant to Section 20(6) of the Malaysian Code
on Take-Overs and Mergers, 1998, the Company will issue the new IJM
Shares to the shareholders of RBH who have accepted the Offer within
21 days.
IJM intends to invoke Section 34 of the Securities Commission Act,
1993 ("SCA") and within the period stipulated in Section 34 of the
SCA give notice to all dissenting shareholders that it desires to
acquire the remaining Offer Shares.
