Published: Wednesday August 29, 2012 MYT 3:09:00 PM
Ninetology offers to buy 39.44% of Ingenuity Solutions shares
Trading in the shares and warrants of Ingenuity was suspended in the afternoon session on Wednesday and will resume on Thursday morning.
At 55 sen, this was a premium of 39.2% above the pre-suspension price of 39.5 sen. The share price rose 4.5 sen to 39.5 sen with 25.27 million shares done.
The warrants added one sen to 12 sen with 30.07 million units done.
Ingenuity Solutions said its company secretary had on Wednesday received an offer letter from Ninetology, "offering to purchase all and not partial of the shares" held by Chin and the three other parties, the 39.44% stake at 55 sen a share.
"This offer stands for 14 days from today. The offer will only be executed on the premise that all and not one or some of the abovenamed persons accepts the offer unconditionally," it said.
Ingenuity Solutions also said Bursa Malaysia Securities Bhd had on Tuesday requested for more information on Ninetology, including details of the corporate exercise that Ninetology intends to propose to Ingenuity Solutions, which had to be released on Wednesday.
Bursa Securities had also requested for background information of Ninetology such as names of the directors, names of the major shareholders and their respective shareholdings, principal activities, latest financial information (including revenue and profit after tax).
"The company had on Aug 29, 2012 written to Ninetology to request for the above information, and is still awaiting for a response from Ninetology," it said.