If one to have a broader view, FELDA for sure will take FGV private in one way or the other. Few options available; one of it is to revise offer price...
Posted by 500Bilis > Aug 5, 2021 2:23 PM | Report Abuse
NON-COMPLIANCE WITH PUBLIC SHAREHOLDING SPREAD PURSUANT TO PARAGRAPH 8.02(1) OF THE MAIN MARKET LISTING REQUIREMENTS
We refer to the announcements dated 5 February 2021, 16 March 2021 and 24 March 2021 on FGV Holdings Berhad’s (“FGV” or “Company”) non-compliance with the public shareholding spread requirement pursuant to Paragraph 8.02(1) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”) (“Public Spread Requirement”).
The Board of Directors of the Company wishes to announce that Bursa Securities, has vide its letter dated 4 August 2021, granted a further six-month extension until 3 February 2022, for the Company to comply with the Public Spread Requirement.
Based on the Record of Depositors, the public shareholding spread of the Company continued to decrease from 13.99% as at 19 March 2021 to 13.69% as at 30 June 2021. The Company is still in non-compliance with the public shareholding spread requirement.
As at the date of this announcement, the Company has yet to formulate a rectification plan to address the shortfall in the Public Spread Requirement.
The Company will make the necessary announcements in relation to the status of its effort to comply with the Public Spread Requirement.
Felda not permitted to buy higher than 1.30 and therefore, those buyers above 1.30 range foresee either a revision of higher offer price OR should the privatisation fails, its share price is not worth only RM1.30 as seen before on 16/03/2021 when the MGO lapsed....
That announcement from Bursa of the extension until Feb 2022 is rubbish! That is nearly 1 year after the event. They should just instruct them to force sell to fix the non-compliance and then come up with a new offer after rectification of the spread. Are they also in PN's pocket? Smells of corruption. Where is MACC?
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....
500Bilis
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Posted by 500Bilis > 2021-08-05 14:47 | Report Abuse
Probably next date to watch out is 15/09/2021 ie 6 months from offer date lapsed..