Convenience Shopping (Sabah) Sdn. Bhd., made a mandatory take-over offer to acquire an additional 45.22% stake in Caring Pharmacy Group Berhad (KLSE:CARING) for approximately MYR 260 million on February 14, 2020. Pursuant to the terms of the offer, Convenience Shopping (Sabah) Sdn. Bhd., will acquire a total of around 95.5 million Caring shares for MYR 2.6 per share. The consideration will be paid in full by cash. The offer will remain open for at least 21 days from the date of posting of the notice of the offer or such later date as decided. If the offer is revised, it will remain open for a period of at least 14 days from the date of posting of the written notification of the revision. The offer shall not be revised after the 46th day from the initial posting date of the notice. In the event 90% or more of the Caring shares are held by Convenience Shopping, it would be required to make an announcement that it does not intend to maintain the listing of the Caring shares on the stock exchange. As the offer is not conditional to acceptances, the closing date shall be no longer than the 60th day from the posting date of the notice. Convenience Shopping (Sabah) Sdn. Bhd is obliged to extend a mandatory take-over offer to acquire all the remaining Caring Shares not already owned by the offeror and persons acting in concert with it. On March 25, 2020, the offeror, ultimate offeror and persons acting in concert with the offeror collectively hold 215,039,012 Caring shares, representing approximately 98.77% of the total issued Caring shares. The offeror has received the required number of valid acceptances which allows the offeror to compulsorily acquire all the remaining Caring shares for which valid acceptances have not been received on or prior to the closing date of the offer. Accordingly, the offeror and ultimate offeror will invoke the provisions of Section 222(1) of the CMSA, subject to Section 224 of the CMSA, for the compulsory acquisition. The offer is valid till March 27, 2020. As of March 20, 2020, the offer has been extended to April 10, 2020. As of April 10, 2020, the offeror issued a noticed to the shareholder who have not accepted the offer or failed or refuse to transfer that the offeror to acquire those shares on or before July 9, 2020. Mercury Securities provided the opinion on transaction as fair. Jaimie Sia and Jason Lam of RHB Investment Bank Berhad is acting as financial advisor to Convenience Shopping (Sabah) Sdn. Bhd. Berjaya Registration Services Sdn Bhd acted as a transfer agent to Caring Pharmacy. Chew Sing Guan and Denis Lim of Mercury Securities Sdn Bhd acted as fairness opinion provider for Caring Pharmacy Group. Convenience Shopping (Sabah) Sdn. Bhd. completed the acquisition of an additional 45.22% stake in Caring Pharmacy Group Berhad (KLSE:CARING) on April 10, 2020. Valid acceptances were received for 44.36% stake in Caring Pharmacy Group Berhad. The offeror has received the required number of valid acceptances which allows the offeror to compulsorily acquire all the remaining Caring shares for which valid acceptances have not been received. On June 9, 2020, Convenience Shopping (Sabah) Sdn. Bhd. completed a general offer cum compulsory acquisition on all the remaining shares in Caring Pharmacy Group Berhad not held by it.