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Kian Joo: Toyota Tsusho has not approached directors or major shareholders
by Cals Thu 13 Mar 2014, 07:58
Kian Joo: Toyota Tsusho has not approached directors or major shareholders
Posted on 13 March 2014 - 05:38am
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PETALING JAYA: Kian Joo Can Factory Bhd said none of its directors or substantial shareholders have been approached by Toyota Tsusho Corp for the disposal of their stakes.
Responding to a query from Bursa Malaysia Securities Bhd yesterday, Kian Joo said its board of directors will decide on the action or steps to take on the letter of interest (LOI), after consulting the group's advisers.
Meanwhile, Kian Joo told the stock exchange that its directors and major shareholders, as well as persons connected with them, do not have any interest in the LOI.
Toyota Tsusho Corp on Monday made a competing offer to acquire 51% stake in Kian Joo. Its tentative maximum offer price of RM3.74, is higher than RM3.30, which was offered by Kian Joo's substantial shareholder Employees Provident Fund and Kian Joo COO Freddie Chee Khay Leong.
Kian Joo's shares fell 1.8% to RM3.35 yesterday, with some 1 million shares traded.
Posted on 13 March 2014 - 05:38am
[You must be registered and logged in to see this link.]
PETALING JAYA: Kian Joo Can Factory Bhd said none of its directors or substantial shareholders have been approached by Toyota Tsusho Corp for the disposal of their stakes.
Responding to a query from Bursa Malaysia Securities Bhd yesterday, Kian Joo said its board of directors will decide on the action or steps to take on the letter of interest (LOI), after consulting the group's advisers.
Meanwhile, Kian Joo told the stock exchange that its directors and major shareholders, as well as persons connected with them, do not have any interest in the LOI.
Toyota Tsusho Corp on Monday made a competing offer to acquire 51% stake in Kian Joo. Its tentative maximum offer price of RM3.74, is higher than RM3.30, which was offered by Kian Joo's substantial shareholder Employees Provident Fund and Kian Joo COO Freddie Chee Khay Leong.
Kian Joo's shares fell 1.8% to RM3.35 yesterday, with some 1 million shares traded.
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