SHAREHOLDERS of Chinese medicine retailer Nam Pei Hong (Holdings) have blocked the conditional offer by Tung Fong Hung (Holdings) for the company's shares and warrants.
Nam Pei Hong said it had received confirmation from shareholders now holding 50.36 per cent of its issued capital and 55.03 per cent of its outstanding warrants that they would not accept the offers.
'Accordingly, one of the conditions of the offers requiring valid acceptances of more than 50 per cent of the voting rights of the company will not be fulfilled,' the company said.
Nam Pei Hong said it had noted the increases in the price and the turnover of the shares and the warrants yesterday and wished to state that it was not aware of any reasons for such increases.
Shareholders and warrantholders of the company and potential investors were urged to exercise 'extreme caution in dealing in the securities of the company'.
