The proposed BOC gases takeover by Carbacid investments and Aksaya investments has been put on hold pending an appeal at the Capital Markets tribunal.
In a cautionary statement to shareholders and investors, BOC said an appeal was filed on March 2 at the Capital Markets Tribunal (CMT) by a shareholder in respect to the takeover proposal.
“Pending further guidance from the Capital Markets Authority and or Capital Markets Tribunal, we wish to inform you that no further action should be taken concerning the activities set out in transaction timetable provided in the takeover offer document forwarded on February 19 this year,” read a statement from BOC.
“This includes the filling and return of acceptance forms. Shareholders who have submitted their acceptance forms to date need not take any action until further guidance is provided.”
