Brief: IHH Healthcare Says Fortis Open Offer & Malar Open Offer Will Not Proceed For Time Being

Fortis Malar Hospitals

18/11/2019 04:53

Nov 18 (Reuters) - IHH Healthcare Bhd  IHHH.KL  
    * IHH HEALTHCARE- CLARIFIES THAT 31.1% OF EXPANDED VOTING
SHARE
CAPITAL OF FORTIS HELD BY IHH THROUGH UNIT NTK WAS ACQUIRED BY
NTK THROUGH SUBSCRIPTION
    * HAS NO TIME DEALT WITH NOR COLLUDED WITH ERSTWHILE
PROMOTERS IN
RELATION TO FORTIS SUBSCRIPTION
    * SUBSCRIPTION WAS UNDERTAKEN AND COMPLETED AFTER ERSTWHILE
PROMOTERS WERE NO LONGER IN CONTROL OF FORTIS
    * REMAINS COMMITTED TO PROCEED WITH FORTIS OPEN OFFER ONCE
STAY IS
LIFTED BY SUPREME COURT OF INDIA
    * FORTIS OPEN OFFER AS WELL MALAR OPEN OFFER WILL NOT
PROCEED FOR
TIME BEING
    * NTK'S SUBSCRIPTION UNDERTAKEN IN TRANSPARENT MANNER, AFTER
OBTAINING APPROVALS & IN ACCORDANCE WITH APPLICABLE LAWS
    * IHH IS SEEKING APPROPRIATE LEGAL ADVICE

Source text http://bit.ly/2Qu8Ms6
Further company coverage:  IHHH.KL 

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