It is good, but not a shock.

Your two choice happened to be at 2 opposite extreme end leh Mind share your view?
PAR value is meaningless, they don't tell anything, symbolic only to me

Subject : IOI PROPERTIES BERHAD (“IOI PROP” OR THE “COMPANY”) RECEIPT OF NOTICE OF VOLUNTARY TAKE-OVER OFFER

Contents :
The Board of Directors of the Company (“Board”) wishes to announce that the Company has today received a notice of voluntary take-over offer (“Notice”) from AmInvestment Bank Berhad (a member of AmInvestment Bank Group) on behalf of IOI Corporation Berhad (“IOI Corp”) to acquire all 199,727,505 ordinary shares of RM0.50 each in IOI Prop (“IOI Prop Share”) not already owned by IOI Corp and all the new IOI Prop Shares that may be issued prior to the closing of the Offer (as defined herein) arising from the exercise of outstanding options granted pursuant to IOI Prop’s Executive Share Option Scheme (“ESOS Options”) at an offer price of RM2.598 per IOI Prop Share to be satisfied in the following manner :-

i) the issuance of zero-point-six (0.6) ordinary shares of RM0.10 each in IOI Corp (“IOI Corp Share”) at an issue price of RM3.78 per IOI Corp Share, being the 5-day volume weighted average market price (“5-Day VWAP”) of IOI Corp Shares up to and including 30 January 2009; and

ii) RM0.33 in cash,

for every one (1) IOI Prop Share held in respect of which the Offer is validly accepted.

(to be referred to as “Offer”)

All 199,727,505 IOI Prop Shares not already owned by IOI Corp and all the new IOI Prop Shares that may be issued prior to the closing of the Offer arising from the exercise of ESOS Options shall be collectively referred to as “Offer Shares”.

The Board does not intend to seek an alternative person to make a take-over offer for the Offer Shares.

In accordance with the Malaysian Code on Take-Overs and Mergers, 1998 (“Code”), the Board will appoint an independent adviser for purposes of the Offer. The appointment of the independent adviser will be subject to the approval of the Securities Commission in accordance with Part IV Section 15(8) of the Code.

A copy of the Notice is attached herewith. The Notice will be posted to the shareholders of IOI Prop within seven (7) days of its receipt.

This announcement is dated 4 February 2009.

deleted.

This post has been edited by htt: Feb 4 2009, 11:08 PM

That's correct.... overlook :-p

Majority paid by share, cash only small portion.