KUALA LUMPUR (June 2): Property developer The Nomad Group Bhd (fundamental: 1.7; valuation: 1.7) announced that the trading of its shares will be suspended effective 9am on Thursday, June 18, 2015.

The announcement was made following the unconditional takeover offer by Plenitude Bhd for the all of the company’s shares for RM1.25 apiece - which has received over 90% valid acceptances, according to the company’s announcement dated May 29.

The offer will be satisfied through the issuance of 111.55 million new Plenitude shares of RM2.50 each. Plenitude offers Nomad shareholders one Plenitude share worth RM2.50 for every two Nomad shares.

It was previously reported that Plenitude does not intend to maintain the listing status of The Nomad Group on the main market of Bursa Malaysia, and does not intend to address any shortfall to meet the public shareholding spread requirement of TNGB.

“On behalf of Plenitude, Mercury Securities Sdn Bhd wishes to inform that Plenitude has received valid acceptances of more than nine-tenths in the nominal value of the Offer Shares, resulting in Plenitude holding in aggregate more than 90% of The Nomad Group Bhd Shares as at 5.00pm on 29 May 2015,” it said in the announcement.

As at 3.30pm, Nomad shares were trading 3.85% lower at RM1, for a market capitalisation of RM231.99 million.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)