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Major Team gets takeover offer at 17 sen each
by Cals Fri 13 Sep 2013, 01:01
Published: Thursday September 12, 2013 MYT 1:18:00 PM
Updated: Thursday September 12, 2013 MYT 1:20:38 PM
Major Team gets takeover offer at 17 sen each
KUALA LUMPUR: Major Team Holdings Bhd has received a takeover from its major shareholder Kong See Kuan and two others for the remaining 36.88 million shares at 17 sen each.
Major Team said on Thursday Kong, Excellent Avenue (M) Sdn Bhd and Ample Potential Sdn Bhd owned 61.99 million shares or 62.7%.
“The board has deliberated on the exit offer and do not intend to seek an alternative person to make a take-over offer for the offer shares,” it said.
The board has appointed SJ Securities Sdn Bhd as the independent adviser to advise the board and the holders of the offer shares in relation to the exit offer.
At 17 sen, this was a 30.8% premium or four sen over the five-day volume weighted average price of 13 sen.
The exit offer is not conditional upon receipt of any minimum number of valid acceptance of the offer shares as the joint offerors already hold more than 50% of the voting shares.
Updated: Thursday September 12, 2013 MYT 1:20:38 PM
Major Team gets takeover offer at 17 sen each
KUALA LUMPUR: Major Team Holdings Bhd has received a takeover from its major shareholder Kong See Kuan and two others for the remaining 36.88 million shares at 17 sen each.
Major Team said on Thursday Kong, Excellent Avenue (M) Sdn Bhd and Ample Potential Sdn Bhd owned 61.99 million shares or 62.7%.
“The board has deliberated on the exit offer and do not intend to seek an alternative person to make a take-over offer for the offer shares,” it said.
The board has appointed SJ Securities Sdn Bhd as the independent adviser to advise the board and the holders of the offer shares in relation to the exit offer.
At 17 sen, this was a 30.8% premium or four sen over the five-day volume weighted average price of 13 sen.
The exit offer is not conditional upon receipt of any minimum number of valid acceptance of the offer shares as the joint offerors already hold more than 50% of the voting shares.
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