..TheContrarian comment about Selangor Property being taken Private VIA SCR in 2018. "" Payment of 5.70 not confirmed yet. Needs to hold EGM to approve where a high 75% of minorities must vote Yes. Also minorities who vote No must be less than 10%. ""
""" KUALA LUMPUR (Jan 15): Selangor Properties Bhd's (SPB) major shareholder Kayin Holdings Sdn Bhd revised its proposed selective capital reduction and repayment (SCR) offer price to RM6.30 from RM6 for each SPB share to privatise the company.
SPB said today in a filing to Bursa Malaysia that consequent to the SCR offer price revision, entitled shareholders will receive capital repayment of RM687.77 million which represents a cash repayment of RM6.30 for each SPB share.
"The issued share capital of SPB will be reduced by up to RM687.77 million pursuant to the proposed SCR. In view that the issued share capital to be reduced is higher than the existing issued share capital of SPB of RM545.37 million, SPB will undertake a bonus issue of up to 382.09 million bonus shares by way of capitalising up to RM382.09 million from the retained earnings of the company, in order to increase the share capital of SPB up to a level which is sufficient for the capital reduction.
"The proposed bonus issue is proposed purely to facilitate the implementation of the proposed SCR," SPB said. At 12:30pm, SPB shares rose one sen to settle at RM5.76.
This is the second time Kayin revised its SPB SCR offer price. When the privatisation offer was first announced on Oct 25, 2018, Kayin had offered RM5.70 for each SPB share.
According to SPB's statement today, SPB on Dec 17, 2018, announced that its board received a revised proposal letter from Kayin, informing that the offer price for the SPB shares had been revised from RM5.70 to RM6. """
Saga of Kayin using SCR to take SPB private. So ...a) Long term b) Revision of prices likely c) Much "Horse Trading" by 'Main ShareHolders' d) ............. (Others :- No Comment) ..... Put on your thinking cap.
MATERIAL LITIGATION Litigation Against Company Subsidiary Ipoh High Court Suit No. 22NCVC-193-08/2012 ("Suit") Plaintiff: Ingat Kawan (M) Sdn Bhd Defendant: Boustead Naval Shipyard Sdn Bhd ("BNS")BOUSTEAD HOLDINGS BERHAD TypeAnnouncementSubjectMATERIAL LITIGATION DescriptionLitigation Against Company Subsidiary Ipoh High Court Suit No. 22NCVC-193-08/2012 ("Suit") Plaintiff: Ingat Kawan (M) Sdn Bhd Defendant: Boustead Naval Shipyard Sdn Bhd ("BNS")
We refer to our announcement dated 14 July 2016 and other announcements on this Suit wherein BNS is being sued by the Plaintiff for RM50,000,000.00 for alleged breach of contract by BNS in relation to the contract to remove underground cables at the Lumut shipyard.
We wish to inform that after trials that took place since April 2018, the Ipoh High Court had on 18 January 2021 dismissed the Plaintiff’s claim with costs of RM15,000.00 to be paid by the Plaintiff to BNS.
This announcement is dated 26 January 2021.
Announcement InfoCompany NameBOUSTEAD HOLDINGS BERHADStock NameBSTEADDate Announced26 Jan 2021CategoryGeneral Announcement for PLCReference NumberGA1-26012021-00022
KWAP has disposed off around 11million Boustead shares from Jan till Dec {2030} in share deals transacted but saw no other corresponding ncreased in other shareholders account. Who is the buyer?
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....
BousteadInvestor
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Posted by BousteadInvestor > 2021-01-26 11:53 | Report Abuse
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