Good news coming soon for BLand with development of Automotive High-Tech Valley in Tanjung Malim? BLand owns large tracks of industrial land near this area of development with coming investment from China?
Further to our announcement dated 23 February 2023, the Board of Directors of Berjaya Land Berhad (“BLand” or “Company”) wishes to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) has, via its letter dated 31 March 2023, resolved not to approve BLand’s application for a further extension of time of 6 months to 22 September 2023 to comply with its approved public shareholding spread requirement of 20% (“Public Spread”) (“EOT”).
In view that the EOT was not approved by Bursa Securities, Bursa Securities may take or impose any type of action or penalty pursuant to Paragraphs 16.02 and 16.19 of the Main Market Listing Requirements of Bursa Securities.
In addition, Bursa Securities has directed BLand to rectify the shortfall of its Public Spread on or before 30 September 2023.
As at 31 March 2023, the Company’s public shareholding spread had increased from 12.26% as at 22 February 2023 to 13.76%, representing a shortfall of about 6.24% equivalent to about 307 million shares.
i think its completion dateline. Without given a final dateline , BJland may says taking actions now but slow slow till 203X and therefore keep asking for extension every 6 months : )
Given more time for Robin and VT sell their irrelevant shares or assets . Are Robin 's directorate in bjland still in power? VT wants bjland for Robin?
VT and the gang should have a chance to push the price up for few rounds within the six months. It is a shame for not privatizing BJLand. It comes so close and market has been anticipating for the moment, starting when the price was still at 0.60++. Privatizing BJLand allows the release of value for the next stage: huge land banks for development, Iceland hotel chain IPO, potentially online betting license etc.
SImple , likely VT initial plan was to collect upto 90% of shares from retail to enable him to privatize BJland at cheap price like 3Xcents. Now not as easy lor. Now Bursa actions may force his team to jack the price up for him/team to unload to the market. Cheers
The local bourse regulator instructed BLand to rectify its public shareholding spread by Sept 30, 2023. The company’s public shareholding spread stood at 13.76% as at end-March, a shortfall of 6.24% or 307 million shares.
Top 15 shareholders owns 91.7% of BJland, but VT n gang still not able to control 90% of BJLand to privitize it cheaply lah. Please correct me if i am wrong. :D
These M&A people will know where to park their $$$ for maximum gain lah. It's a waiting game n finally we are seeing the light at the end of the tunnel
roundcateye said 16++%. Same whats i thought. So if anyone can sell his shares to interest party, everything back to one. Listing lifted. Now maybe VT shares is generate buying and selling!
ocbc Just a 3m issues, between employee and employer dispute , likely the angmo trying to take advantage of him ,angmo loves to sue people even for dental issues type. lol
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....
Nonochan
31 posts
Posted by Nonochan > 2023-03-30 14:10 | Report Abuse
Previously, overseas projects. Landowner., but sapu bersih bersih.