AmInvestment Bank said the Vienna-based company Semperit AG Holdings’ offer to Latexx Partners Bhd in acquiring all of the latter’s shares and warrants is fair and reasonable.
Semperit AG Holdings is acquiring all of the shares and warrants of Latexx Partners Bhd for RM2.30 per share and RM1.77 per warrant.
The investment company said during the independent advice circular to the minority shareholders of latex that the shares and warrants of the company being acquired has been trading below the price that is offered by Semperit for the past year which was RM1.77 per warrant.
At the event, the AmInvestment Bank said that the offer price of the shares represented the premium that ranges from 51 sen to 70 sen per Latexx share.
“The premium of 32.18% represented by the shares offer price over the five-day volume-weighted average price (VWAP) up to Oct 5 is above the range of successful conditional offers in Malaysia by 2.46% to 21.95% for the past year up to the date prior to the takeover notice,” the bank added.
The offer price for the warrants on the other hand was ranging from 46 sen to 65 sen. (RJA)