KUALA LUMPUR (Nov 6): Khazanah Nasional Bhd's RM6 billion recovery plan for Malaysian Airline System Bhd (MAS) ( Financial Dashboard), which sees it buying out MAS shares it does not own at 27 sen each and taking the loss-making airline private, has gotten the nod from its shareholders.
Of the total votes cast at MAS' extraordinary general meeting (EGM) today, 93.98% voted for Khazanah's proposal, while 6% voted against it.
The EGM also prompted panics in the share market, where the share price of the national airline fell as low as 18.5 sen during the afternoon trading session, with over 400 million shares transacted as at 4pm, being the top traded counter.
Someone played the market and short it. Not Khazanah. As far as Khazanah is concerned, the votes already closed and counted. Should it be rejected, they may opt for Plan B which is very unlikely for obvious reasons. The news will be out soon. Khazanah may come out with another option / or offer subject to approval by the PM.
This sell-down on the voting-day by minority shareholders to 0.185 ( the same price as 18July2014) appear to be like a veiled threat, and is wicked and despicable. Must be a sign that Khazanah not confident of getting the vote they wished.
The authority must haul up (UMA is useless) the party(s) involved, if they have balls or bites..
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
soon9913
2,820 posts
Posted by soon9913 > 2014-11-06 16:09 | Report Abuse
can someone here can clarify why they said the takeover was off?????