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Privatisation of Glenealy approved at EGM (2372)
by hlk Thu 13 Sep 2012, 14:29
KUALA LUMPUR: Samling Global Ltd has received nearly all the shareholders' approval to go ahead with the privatisation of Glenealy Plantations (M) Bhd.
At the EGM on Thursday, minority shareholders owning about 4.23% of the shares had voted against the proposal.
Samling Global expects to complete the exercise by mid-November.
Glenealy
had on Monday offered a special dividend of 52.75 sen per share as a
sweetener to Samling Global's offer to privatise the company.
At midday, its share price was up 10 sen to RM7.85
At the EGM on Thursday, minority shareholders owning about 4.23% of the shares had voted against the proposal.
Samling Global expects to complete the exercise by mid-November.
Glenealy
had on Monday offered a special dividend of 52.75 sen per share as a
sweetener to Samling Global's offer to privatise the company.
At midday, its share price was up 10 sen to RM7.85
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