MOF ACCEPTS DEFTECH LETTER OF OFFER FOR ACQUISITION OF 96.87% SHARES IN CTRM
On 19 February 2013, MOF has accepted on offer from Deftech to acquire its entire 466,778,067 ordinary shares of RM1.00 each representing 96.87% equity interest in CTRM owned by MOF for a total cash consideration of approximately RM298.3 million to be paid to MOF subject to the following:
Upon satisfaction of the above conditions, Deftech will enter into a definitive SPA with MOF.
CTRM is principally involved in the development and production of aircraft composites components while its subsidiaries are involved in the designing, developing and manufacturing of composite components for aerospace and non-aerospace applications of which includes applications for the defence and automotive industries.
Further announcements will be made by the Company to Bursa Malaysia Securities Berhad ("Bursa Securities") on a timely manner in accordance with the Main Market Listing Requirements of Bursa Securities, as and when necessary.