"Further to the Kuala Lumpur High Court e-hearing held on 27 September 2021, the Board of Directors of Turiya wishes to announce that the Court had dismissed the Plaintiff 's injunction application (Notice of Application dated 3.7.2021 (Enclosure 2)). " Court dropped the Plantiff's application.. 'No Show' already.
MAA's shares in Turiya has reached a threshold of more than 30% . I thought it is compulsory for MAA to acquire the remaining shares in Turiya in accordance with Bursa's rules. Why ??? Any ppl are good in this to share ....
Now, apparently the remaining shareholders are not agreeable to the offer of 0.180. Bursa should fix a timeframe for MAA to acquire the remaining Turiya's shares and comes out with another offer. Opined apparently MAA have no intention to takeover of whole of Turiya but due to litigation of takeover of Ithmaar's stakes which triggered the whole takeover have left MAA no choice.
" MATERIAL LITIGATION TURIYA BERHAD ("Company" or "Turiya") A) APPEAL NO. W-02(IM)(NCC)-1827-09/2021; AND B) APPEAL NO. W-02(IM)(NCC)-1826-09/2021. -KUALA LUMPUR HIGH COURT CIVIL SUIT NO. WA-22NCC-295-07/2021 APPELLANT: EMPIRE HOLDINGS LTD RESPONDENT: I) ITHMAAR DEVELOPMENT COMPANY LTD (1st Respondent) II) ITHMAAR BANK B.S.C. (2nd Respondent); III) MAA GROUP BERHAD (3rd Respondent); IV) TUNKU DATO YAACOB KHYRA (4th Respondent); V) TURIYA BERHAD (5th Respondent)." 29/9/2021. I opine is not the market price matters - may have arbitration of fair value of the share price.
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aa1234
154 posts
Posted by aa1234 > 2021-09-27 21:09 | Report Abuse
Any updates about the offer price?