Wardah Communication Sdn Bhd made an offer to acquire remaining 35.8% stake in Dataprep Holdings Bhd (KLSE:DATAPRP) for MYR 24.1 million on October 11, 2017. Under the terms of the transaction, Wardah Communication Sdn Bhd will pay a cash consideration of MYR 0.16 for each offer share to the holders who accept the offer. If Dataprep Holdings Bhd makes or pays any dividend and/or other distributions on or after notice but prior to the closing date of this announcement and the holders are entitled to retain such distribution, Wardah Communication Sdn Bhd shall reduce the offer price by an amount equivalent to the net distribution which the holders of such offer shares are entitled to retain. If Wardah Communication Sdn Bhd purchase or agree to purchase any offer shares during the offer period at a higher consideration than the offer price, Wardah Communication Sdn Bhd will increase the consideration for the offer to not less than the highest price for the offer shares. If accepted, the offer prior to the revision in the offer price, Wardah Communication Sdn Bhd will pay the revised offer price in cash. Wardah Communication Sdn Bhd may only withdraw the offer with the Securities Commission Malaysia. In a related transaction, Wardah Communication Sdn Bhd entered into a share sale agreement to acquire 64.2% stake in Dataprep Holdings Bhd in a direct business transaction on October 11, 2017. The offer is subject to approval from Securities Commission Malaysia. The offer is not conditional upon any minimum level of acceptances as Wardah Communication Sdn Bhd holds more than 50% of the voting shares of Dataprep Holdings Bhd. A competing take-over offer is made anytime between the posting date and closing date. If Wardah Communication Sdn Bhd revised the offer after the posting date, the offer will remain open for acceptances at least 14 days from the date on which the written notification of the revision posted. Wardah Communication Sdn Bhd may not revise the offer after the 46th day from the posting date. The offer will remain open for acceptances on the 21st day after the posting date. As per announcement on November 1, 2017, the offer will close on November 22, 2017. Kenanga Investment Bank Berhad (KLSE:KENANGA) acted as financial advisor for Wardah Communication Sdn Bhd in the transaction. As of November 13, 2017, the independent advisor circular has been filled. Mercury Securities Sdn. Bhd. consider the offer as not fair and reasonable and so recommends shareholders to reject the offer. Based on advice of independent financial advisor the Board of Directors of Dataprep Holdings Bhd recommends shareholders to reject the offer. Mercury Securities Sdn. Bhd acted as financial advisor to Dataprep Holdings Bhd. Symphony Share Registrars Sdn. Bhd. acted as a transfer registrar for Wardah Communication Sdn Bhd. Wardah Communication Sdn Bhd cancelled the acqusition of remaining 35.8% stake in Dataprep Holdings Bhd (KLSE:DATAPRP) on November 13, 2017.