Type Announcement Subject TAKE-OVERS & MERGERS (PARAGRAPH/RULE 9.19 (47A)) Description MESB BERHAD ("MESB" OR THE "COMPANY") - RECEIPT OF NOTICE OF CONDITIONAL MANDATORY TAKE-OVER OFFER FROM KAF INVESTMENT BANK BERHAD ON BEHALF OF WONG SAK KUAN AND YAU MING TECK ("JOINT OFFERORS") The Board of Directors of MESB (“Board”) wishes to announce that the Board had on 12 October 2020, received a notice of conditional mandatory take-over offer ("Notice") from KAF Investment Bank Berhad, on behalf of the Joint Offerors, notifying the Board to acquire the following:-
all the remaining ordinary shares in MESB not already owned by the Joint Offerors and such number of new ordinary shares in MESB that may be issued and allotted prior to the closing of the Offer arising from the exercise of the outstanding warrants in MESB (“Offer Shares”); and all the remaining warrants in MESB not already owned by the Joint Offerors (“Offer Warrants”), for a cash offer price of RM0.315 per Offer Share and RM0.015 per Offer Warrant (“Offer”).
A copy of the Notice is attached herewith and the same will be posted to all holders of the Offer Shares and Offer Warrants within seven (7) days from the date of this announcement.
KUALA LUMPUR (Nov 14 - 2019): Kumpulan Powernet Bhd’s substantial shareholder Datuk Dr Mohd Abdul Karim Abdullah owned 40.65 million shares, or a 53.38% stake, in the group at the close of his takeover offer yesterday.
This was announced by RHB Investment Bank Bhd on behalf of Kumpulan Powernet in a statement today.
The statement said Abdul Karim, who is also the managing director and chief executive officer of Serba Dinamik Holdings Bhd, intends to maintain the listing status of Kumpulan Powernet on the Main Market of Bursa Malaysia.
Abdul Karin made the mandatory general takeover offer on Oct 2 after raising his stake in Kumpulan Powernet to 36.49%, following the purchase of 12.25 million shares or 16.09% for RM12.25 million or RM1 per share.
He had offered to buy the remaining shares at RM1 each.
Today, Kumpulan Powernet shares closed eight sen or 5.9% higher at RM1.62, giving the group a market capitalisation of RM123.36 million.
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....
Durotus
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Posted by Durotus > 2020-10-08 12:13 | Report Abuse
How they doing