OSK Holdings Bhd, which is planning to form a mega property company, has failed to take over PJ Development Holdings Bhd (PJD) at the close of the offer yesterday.
OSK ended up with 89.36% of PJD, hence falling short of the required acceptance level to take the company off Bursa Malaysia.
OSK had 31.03% when it made the offer for PJD’s shares and warrants at RM1.56 and 60 sen each, respectively.
Under the takeover regulations, an offeror needs an acceptance of 90% of the shares that it does not own at the point of making the offer to compulsorily acquire the remaining equity in the company.
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OSK ended up with 89.36% of PJD, hence falling short of the required acceptance level to take the company off Bursa Malaysia.
OSK had 31.03% when it made the offer for PJD’s shares and warrants at RM1.56 and 60 sen each, respectively.
Under the takeover regulations, an offeror needs an acceptance of 90% of the shares that it does not own at the point of making the offer to compulsorily acquire the remaining equity in the company.
For Free Signals, click here KLSE online OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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