Temasek Formation Sdn Bhd (TFSB), a special purpose company, is acquiring the entire interests including assets and liabilities of JOTECH HOLDINGS BHD [], AIC CORPORATION BHD [] and AutoV Corporation Bhd for a total of RM696 million.
TFSB, which is owned by Jotech executive chairman Datuk Goh Tian Chuan, will then merge the companies to create a larger entity.
Under the exercise, the company is offering 18 sen for each Jotech share, RM1.80 for each AIC share and RM2.38 per AutoV share.
Based on the above, the proposed swap ratios are 3 new TFSB shares for every 2 existing Jotech shares; 15 new TFSB shares for every 1 existing AIC share and 119 new TFSB shares for every 6 AutoV shares.
TFSB, which is owned by Jotech executive chairman Datuk Goh Tian Chuan, will then merge the companies to create a larger entity.
Under the exercise, the company is offering 18 sen for each Jotech share, RM1.80 for each AIC share and RM2.38 per AutoV share.
Based on the above, the proposed swap ratios are 3 new TFSB shares for every 2 existing Jotech shares; 15 new TFSB shares for every 1 existing AIC share and 119 new TFSB shares for every 6 AutoV shares.
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