Ancom to be fully integrated chemical group through proposed acquisition | Malay Mail

📆 2021-04-28 1:28 PM
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KUALA LUMPUR, April 28 — Leading manufacturer and supplier of agricultural and industrial chemicals in South-east Asia, Ancom Bhd has proposed to acquire all the assets and liabilities of Nylex (M) Bhd for RM179.3 million, translating into RM1.00 per Nylex share. In a statement today, the company...

Wednesday, 28 Apr 2021 09:46 PM MYT

The premium ranges from 16.2 per cent to 31.5 per cent over the selected VWAMP period of Nylex shares. Subsequent to the proposed acquisition, Ancom said Nylex will retain RM15 million cash in the company. “Having full control of Nylex’s business in the industrial chemicals, polymer and chemical logistics divisions would provide us more flexibility on execution of our overall strategies.

Accordingly, Nylex will be required to submit a proposal to the Securities Commission Malaysia for its approval to acquire a new core business within 12 months from the date of being classified as a cash company.

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