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Kenny, because ppl holds at RM1.80 doesn't want to sell to mothar, hold it until price reach RM2.... If mothar beh tahan until EGM, they have to buy at RM2 loh
need 90% agreed to go thru...if cannot get probably he need to offer higher..rm2 is considered undervalued still vs NTA..but see how the EGM first...nothing to lose
in order to proceed with the plan...the egm must pass 90% vote to go thru...yeah they got 51-52% but privatisation under SCM criteria is it requires 90% acceptance of the voting shares of the company (excluding shares owned by the offeror or persons connected with the offeror) before the buyer can enforce compulsory acquisitions from the remaining minority shareholders. Remembered Felda owns 70+% of FGV but failed to take FGV private cos they cant get enough shareholders vote to get 90% approval
easily to calculate..PNB +EPF+Tabung haji hold 25% to become to 50% if calculate of the balance shares.Currently bought from market mostly are for arbitrage play.. easily to get 25% base on share traded 8-11/6
it is like share cancellation or share buyback...total shares will be reduced incl shareholder's equity...market cap still remains...in this respect the objective is to go private with this action
