Sime Darby to buy all shares

 SIME Darby Bhd will compulsorily acquire all the remaining shares in New Britain Palm Oil Ltd (NBPOL) and trading in the latter would be suspended on March 31.

Sime Darby expected NBPOL to be delisted from Port Moresby Stock Exchange “at the close of trading on April 7”, the company said in a filing with Bursa Malaysia.

The conglomerate had launched a general offer last October to take over the London and Papua New Guinea-listed NBPOL last October for £7.15 (RM38.70) per share or £1.07bil cash.

Sime Darby had acquired 98.8 per cent of NBPOL shares as at March 2. 

The purchaser had despatched an acquisition notice to shareholders of the outstanding shares, who may choose to complete the transaction by April 14 and receive payment from the offer or seven days after the documents are received.

Sime Darby will send the instruments of transfer for the outstanding shares to NPBOL shareholders who do not return the complete relevant documents upon the deadline within April 21, “duly executed” by Sime Darby or its agents. 

The offer or would deliver the cash consideration to those shareholders for the transfer of the shares or hold the amount in an interest-bearing account until claimed by those shareholders. – The Star Online