We refer to the Notice of Unconditional Take-over Offer dated 10 November 2016 (“Notice”) served on the Board of Directors of StemLife (“Board”) by Maybank IB, on behalf of the Offeror.
The Board wishes to announce that the Company has on 16 November 2016 received the Supplemental Notice from Maybank IB on behalf of the Offeror, informing that:
(i) On 16 November 2016, the Offeror acquired 474,700 ordinary shares of RM0.10 each in StemLife (“StemLife Shares”), representing approximately 0.192% of the issued and paid-up share capital of StemLife, for a total cash considerations of RM272,702.95 with price ranging from RM0.570 to RM0.575 per StemLife Share which were effected via direct business transactions and open market acquisitions (“Acquisitions”);
(ii) After the Acquisitions, CGL will hold 222,947,629 StemLife Shares, representing approximately 90.08% of the issued and paid-up share capital of StemLife; and
(iii) The offer price for the Offer Shares has been revised from RM0.54 to RM0.575 per Offer Share ("Revised Offer Price"). Save for the Revised Offer Price, all the other terms and conditions as stated in the Notice remain unchanged.
Please refer to the attached Supplemental Notice for further details.
As the Offeror holds more than 90% of the total StemLife Shares and it does not intend to maintain the listing status of StemLife, the trading of StemLife Shares will be suspended immediately upon the expiry of five (5) market days from the close of the offer period.
This announcement is dated 16 November 2016.