News

Advance Synergy Berhad ("ASB" Or The "Company") Voluntary Take-Over Offer By Aseambankers Malaysia Berhad ("ASEAMBANKERS") On Behalf Of ASB To Acquire All The Remaining Ordinary Shares Of RM1.00 Each In Advance Synergy Capital Berhad ("ASCAP Shares") Which Are Not Already Owned By ASB At A Cash Offer Price Of RM0.60 Per Ascap Share ("Offer")

BackOct 15, 2008
General Announcement
Reference No CU-081015-59717

Submitting Merchant Bank
:
 ASEAMBANKERS MALAYSIA BERHAD 
Company Name
:
 ADVANCE SYNERGY BERHAD 
Stock Name
:
 ASB
Date Announced
:
 15/10/2008


Type
:
 Announcement
Subject
:
ADVANCE SYNERGY BERHAD ("ASB" OR THE "COMPANY")

Voluntary take-over offer by Aseambankers Malaysia Berhad ("Aseambankers") on behalf of ASB to acquire all the remaining ordinary shares of RM1.00 each in Advance Synergy Capital Berhad ("ASCAP Shares") which are not already owned by ASB at a cash offer price of RM0.60 per ASCAP Share ("Offer")

Contents
:
Reference is made to our announcements dated 26 September 2008 and 14 October 2008 in relation to the Offer.

On behalf of the Board of Directors of ASB, Aseambankers wishes to announce that the Securities Commission ("SC") has vide its letter dated 15 October 2008 approved the Offer under the Foreign Investment Committee's Guideline on the Acquisition of Interests, Mergers and Take-Overs by Local and Foreign Interests. The approval of the SC is subject to the following conditions:

(i) Aseambankers should inform the SC upon completion of the Offer; and

(ii) Aseambankers should submit a list of acceptances for every category of shareholders (Bumiputera, Non-Bumiputera and Foreign) together with the effective equity structure of ASCAP before and after the completion of the Offer. In this respect, further equity condition may be imposed on ASCAP subsequent to a review on the list of acceptances.

This announcement is dated 15 October 2008.