@bobochacha so mean rm2 is 100% secured already as of now? while those who willing to hold longer might get better offer? risk free? because if there is risk of cancellation of privatization then I am willing to see my share at rm2 monday, but if risk free then why not try to get more
It is a good offer as MMC has been trading ridiculously much below the offer price. Those who think the offer is below fair value should have sold his house and every things else to accumulate the stock earlier. MMC has been valued and traded in the market at ridiculously low price and those who are smart enough buy earlier I am sure will make a good gain and likely to move on to the next stock, so to speak. Best to move on to other undervalued stocks in the market, and currently there a number of very good stocks misunderstood or undervalued by the market.
taitaiwong malaysia bursa resume trading no need announcement ma.. if they dont have further announcement on further suspension mean tommorow resume trading
who will sell at limit up price tommorow if they know syed motar want buy at rm 2 tommorow volume will be low because maybe the seller dont know what is happening
The Board of MMC (“Board”) wishes to announce that the Company has today received a letter from its controlling shareholder, Seaport Terminal (Johore) Sdn Bhd (“STJSB” or “Offeror”), requesting the Company to undertake a selective capital reduction and repayment exercise pursuant to Section 116 of the Companies Act 2016 (“SCR Offer Letter”).
The Proposed SCR entails a selective capital reduction and a corresponding capital repayment of a proposed cash amount of RM2.00 for each ordinary share in MMC held by all shareholders of MMC (other than STJSB and persons acting in concert with them) whose names appear in the Record of Depositors of MMC as at the close of business on an entitlement date to be determined and announced later by the Board.
The Board, save for Sharifah Sofia Syed Mokhtar Shah who is an interested director, will deliberate on the Proposed SCR and decide on the next course of action. Accordingly, a further announcement will be made in due course after the Board’s deliberation.
Please refer to the SCR Offer Letter for further details on the Proposed SCR.
Tomorrow maybe open low or higher a bit. Privatisation is not a good news. High selling pressure is possible like FGV which also most shares own by same tycoon.
Privatization is via SCR not GO - there will be an EGM...disinterested parties cannot exceed 10% (if exceed the SCR fails), majority in numbers 75% in value etc...the offerors may (or may not) revise the offer price...in Selangor Properties Berhad's SCR, the final offer price was rm6.30, higher than original rm5.70 (~10%)
The Board of MMC (“Board”) wishes to announce that the Company has today received a letter from its controlling shareholder, Seaport Terminal (Johore) Sdn Bhd (“STJSB” or “Offeror”), requesting the Company to undertake a selective capital reduction and repayment exercise pursuant to Section 116 of the Companies Act 2016 (“SCR Offer Letter”).
The Proposed SCR entails a selective capital reduction and a corresponding capital repayment of a proposed cash amount of RM2.00 for each ordinary share in MMC held by all shareholders of MMC (other than STJSB and persons acting in concert with them) whose names appear in the Record of Depositors of MMC as at the close of business on an entitlement date to be determined and announced later by the Board.
The Board, save for Sharifah Sofia Syed Mokhtar Shah who is an interested director, will deliberate on the Proposed SCR and decide on the next course of action. Accordingly, a further announcement will be made in due course after the Board’s deliberation.
Please refer to the SCR Offer Letter for further details on the Proposed SCR.
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