Dec 2017 Financial News

Ansa McAL Limited - Notice re Offer and Take Over Bid Circular by Ansa Coatings Int Ltd - Berger Paints Trinidad Limited

Dec 28, 2017

ANSA MCAL Group of Companies

Offer and take-over bid circular by Ansa Coatings International Limited (“ACIL”) to acquire all remaining issued ordinary shares of Berger Paints Trinidad Limited (“Berger”) dated November 1, 2017 as amended on December 6, 2017.

ACIL announces a successful take-over bid.

ACIL is pleased to announce that:

1. All the terms and conditions of the Offer have been complied with or waived.

2. BERGER shareholders have deposited approximately 692,277 shares (subject to verification of validity of all acceptances received) which together with ACIL’s and its affiliates existing shareholding in BERGER) represents approximately 94% of the outstanding Ordinary Shares.

3. In compliance with the Offer and Securities Industry (Take-Over) Bylaws 2005, prior to the Extension of the Offer dated December 6, 2017, which extended the Offer from December 6, 2017 to December 22, 2017 (the “Extended Period”), ACIL took up 342,133 Ordinary Shares and paid a total consideration of $2,312,819.08.

4. ACIL intends to take up all the remaining 350,144 Ordinary Shares validly deposited during the Extended Period pursuant to its Offer.

5. The approximate consideration to be paid by ACIL for the Ordinary Shares deposited during the Extended Period pursuant to its Offer is TT$2,366,973.44. Therefore, the total consideration to be paid for the Offer is approximately TT$4,679,792.52. The consideration is expected to be paid to BERGER shareholders on or before January 2, 2018.

ACIL thanks all BERGER shareholders who participated in the Offer.
 

Source:
The Trinidad and Tobago Stock Exchange Limited
Thursday December 28th 2017