MPHB extends offer deadline

MPHB extends offer deadline
Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Tuesday, 11 June 2013 18:15


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KUALA LUMPUR (June 11): Diversified firm MULTI-PURPOSE HOLDINGS BHD [] (MPHB) has extended the deadline for the acceptance of MPHB Capital Bhd offer shares, and deferred the latter's listing date.

In a statement to the exchange today, MPHB said the deadline for acceptance and payment for MPHB Capital shares was revised to 5pm on June 18 this year from June 13.

"Accordingly, the date for the announcement of final subscription result and basis of allotment of excess offer shares will be on June 21, 2013 (instead of June 17, 2013), while the date for the transfer of the offer shares to successful applicants will be on June 27, 2013 (instead of June 24, 2013) and the date for the listing of the offer shares will be on June 28, 2013 (instead of June 25, 2013)," MPHB said

MPHB said the firm has extended the deadline for acceptance and payment for MPHB Capital shares "to facilitate an extended period of time for shareholders/renouncee(s) to accept and pay for the offer shares and to apply and pay for the excess offer shares (if any) after taking into consideration the feedback of the shareholders/renouncee(s)".

MPHB is in the process of demerging its gaming and non-gaming operations. The move will see the creation of separate listed entity MPHB Capital for the non-gaming businesses.

Under the exercise, MPHB plans to park its real estate, hotel, and financial services operations under MPHB Capital while the number-forecast operations will remain under MPHB.

The flotation of MPHB Capital shares involves a proposed offer for sale by MPHB of the entire stake comprising 715 million shares in the subsidiary. This is on the basis of one MPHB Capital share for every two MPHB units owned.