KUALA LUMPUR: Chin Hin Group Bhd has signed share sale agreements with Teoh Hai Hin and Por Teong Eng for the acquisition of 30.291 million shares in Signature International Bhd for RM25.445 million.
As a result, the aggregate shareholdings of Chin Hin and its persons acting in concert (PACs) in Signature International Increase from 28.72 per cent to 33.49 per cent.
As at Jan 16, Chin Hin and PACs namely Datuk Cheng Lai Hock, Chiau Beng Soo, Chiau Beng Sun, Teck Huat @ Chiau Lay Koon, Shout Chan, Toh Poh Keong, Yeoh Hock Seng, Cheng Siew Hiang Lim Siew Luang held in aggregate 182.30 million ordinary shares in Signature International representing 28.72 per cent equity interest in the latter.
In a filing with Bursa Malaysia, Chin Hin said it will be obliged to extend a conditional mandatory general offer to all the remaining shares not already owned by it.
The proposed acquisition and the proposed offer are subject to the approvals from shareholders of Chin Hin at an extraordinary general meeting to be convened at a later date.