Last Friday, Engtek announced that the final day of trading for the company's shares is 17 Aug, while the entitlement and payment date is 28 Aug.

A recap. In July last year, Engtek received an offer from TYK Capital SB to acquire the entire  business  and  undertakings  of  the  company  for  an  aggregate  consideration  of RM2.50/share. However, in October, its operation in Thailand was badly affected by the Thai floods, which inundated its plant there. Following this, the financiers of TYK Capital had  conducted  due  diligence  on  Engtek  to  evaluate  its  operational  capacity  while  its financers  agreed  to  back  the  privatization  effort  only  if  the  price  was  adjusted downwards  to  RM2.00/share.  We  found  the  newly  tabled  offer  price  still  attractive  and had advised shareholders to approve the proposal. At the company's EGM in June this year, shareholders agreed to dispose of Engtek's entire net assets to TYK Capital

Ceasing coverage. The company's current share price already reflects the offer price of RM2.00 per share for Engtek's net  assets.  Hence  we  are  discontinuing  coverage  on Engtek.

Source: OSK