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NewsDRB-Hicom holds 98.6% of Proton, trading suspended May 4
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DRB-Hicom holds 98.6% of Proton, trading suspended May 4
by hlk Thu 26 Apr 2012, 20:06
KUALA LUMPUR: DRB-Hicom Bhd's stake in Proton Holdings Bhd reached 98.66% or 541.85 million shares based on the valid acceptances of 48.59% or 266.88 million shares as at 5pm on Thursday.
DRB-Hicom said since it had acquired not less than nine-tenths of the offer shares, it would compulsory acquire the remaining shares.
It said that it would, within two months, proceed to exercise its rights to compulsorily acquire the remaining offer shares. The offer will remain open until 5pm on May 9.
DRB-Hicom made a cash offer to acquire Proton shares at RM5.50 per share after it acquired a 42.74% stake in the national car maker from Khazanah Nasional Bhd.
Proton's securities will be suspended with effect from 9am on May 4.
DRB-Hicom said since it had acquired not less than nine-tenths of the offer shares, it would compulsory acquire the remaining shares.
It said that it would, within two months, proceed to exercise its rights to compulsorily acquire the remaining offer shares. The offer will remain open until 5pm on May 9.
DRB-Hicom made a cash offer to acquire Proton shares at RM5.50 per share after it acquired a 42.74% stake in the national car maker from Khazanah Nasional Bhd.
Proton's securities will be suspended with effect from 9am on May 4.
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