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M&A Perak Corp offers RM3.90/share in takeover

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M&A Perak Corp offers RM3.90/share in takeover Empty M&A Perak Corp offers RM3.90/share in takeover

Post by Cals Tue 07 Jan 2014, 00:28

M&A Perak Corp offers RM3.90/share in takeover
Business & Markets 2013
Written by Ho Wah Foon of theedgemalaysia.com   
Monday, 06 January 2014 19:33

KUALA LUMPUR (Jan 6): Perak Corporation Bhd informed the stock exchange that it has been directed to undertake a selective capital reduction (SCR) and repayment exercise that will see Perbadanan Kemajuan Negeri Perak (PKNP) and three other associated firms owning the company.

The offer for shares not already owned by them is at RM3.90 per unit, said the offer document.

In a filing to Bursa Malaysia, PCB said it has today received a letter from Perbadanan Kemajuan Negeri Perak, Fast Continent Sdn Bhd, Cherry Blossom Sdn Bhd and Perak Equity Sdn Bhd, requesting the company to undertake the SCR pursuant to Section 64 of the Companies Act.

“The board, save for the interested directors, will deliberate on the proposed SCR and will decide on the next course of action,” said Perak Corp.

Currently, state-owned PKNP owns a direct stake of 52.27% in the company while the other three companies hold 0.63% shares.

Perak Corp was last traded at RM3.50 before trading in its shares was suspended. It will resume trading tomorrow.
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M&A Perak Corp offers RM3.90/share in takeover Empty Re: M&A Perak Corp offers RM3.90/share in takeover

Post by Cals Tue 07 Jan 2014, 00:28

vroom vroom tomorrow
Cals
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Posts : 25277 Credits : 57721 Reputation : 1766
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