The terms used herein, unless the context otherwise stated, bear the same meaning as those defined in the earlier announcements in relation to the Proposed Withdrawal and Offer.
We refer to the Company's announcements dated 22 July 2024, 23 July 2024, 5 August 2024, 12 August 2024 and 22 August 2024 in relation to the Proposed Withdrawal and Offer.
The Board of Directors of GCEB wishes to highlight that the Company has received the attached press notice today from UOBKH, on behalf of the Joint Offerors, informing that, further to the outcome of the extraordinary general meeting of GCEB convened on 13 September 2024 ("EGM"), the Offer which is undertaken in conjunction with the Proposed Withdrawal pursuant to Paragraph 16.06 of the Listing Requirements has lapsed on 13 September 2024, as the Proposed Withdrawal was not approved by the shareholders of GCEB at the EGM.
As highlighted in Section 6 of the circular to the shareholders of GCEB dated 22 August 2024 in relation to the Proposed Withdrawal, the Offer is undertaken to facilitate the Proposed Withdrawal and is conditional upon the the approval of the shareholders of GCEB for the Proposed Withdrawal and the approval from Bursa Securities for the Proposed Withdrawal, failing which the Offer shall lapse and the Offer shall cease to be capable of further acceptance and that the holders who have accepted the Offer ("Accepting Holder(s)") and the Joint Offerors will thereafter cease to be bound by any prior acceptance of the Offer.
Premised on the above, the Joint Offerors shall return all the Offer Shares which have been transferred into the Central Depository System account of Tan Chee Hoe & Sons Sdn Bhd (being one of the Joint Offerors), to the respective Accepting Holders, followed by a notice of transfer which will be despatched to the Accepting Holders in due course.
This announcement is dated 13 September 2024.