KUALA LUMPUR (Oct 14): Advance Information Marketing Bhd (AIM) said it had today received a notice of conditional voluntary takeover offer from Datuk Chai Woon Chet, who intends to acquire all the shares in AIM at 13 sen each.

"Pursuant to Paragraph 3.06 of the Rules on Take-overs, Mergers and Compulsory Acquisitions, an independent adviser will be appointed by the board in due course to provide comments, opinions, information and recommendation on the offer to the non-interested directors and holders of the offer shares,” business process outsourcing solution provider AIM said in a statement to Bursa Malaysia today.

According to the take-over notice, which was attached to AIM’s Bursa filing, AIM has 241.97 million issued shares and Chai does not hold any AIM shares, which are listed on the ACE Market.

The notice said Chai intends to maintain AIM’s listing on the ACE Market. At 13 sen a share, Chai’s offer values AIM at RM31.46 million.

According to the notice, Chai, 42, is a director in several Bursa-listed companies including Anzo Holdings Bhd and M3 Technolgies (Asia) Bhd.

The notice said Chai, who is Anzo’s managing director and substantial shareholder, is also a non-executive director of M3 Technolgies.

Mercury Securities Sdn Bhd is representing Chai in the proposed AIM take-over offer, according to the notice.

In a separate Bursa filing today, AIM said its share trade has been halted since 3.32pm today in conjunction with the take-over offer announcement.

"Trading in the above shares will resume with effect from 9am, Thursday, 15 October 2020. Your attention is drawn to AIM's announcement dated 14 October 2020,” AIM said.

Prior to the trade halt, AIM’s share price rose four sen or 30.77% to 17 sen, which gives the company a market capitalisation of about RM41.13 million. The stock saw 4,000 shares traded.