(A) % of shares hold by offerors = 65.5% - to remain unchanged until closure of take-over offer, at least 42 days from 19 Feb 2021
(B) Market free float: 34.5% = 23.8 M shares Shares transacted from 8/2/21 till 19/2 (9 trading days) = 15 M shares - Done at price higher than initially proposed return of capital 0.965 (NO LONGER HOLD NOW) - Bought by insiders??
(C) Remaining shares hold by other minorities less than 9 M shares??
KUALA LUMPUR: Pimpinan Ehsan Bhd (PEB) is planning to turn itself into a pure-play renewable energy asset owner and operator.
In a filing with Bursa Malaysia today, PEB said it has entered into heads of agreements (HoAs) with reNikola Sdn Bhd and its owners to acquire the company and its operating units.
reNIKOLA group of companies are principally involved in renewable energy generation and will have a combined portfolio of approximately 418 megawatt peak (MWp) capacity of solar assets upon completion, across 4 sites in Kedah, Pahang and Perlis.
"The total purchase consideration that will be determined at a later date, and shall be satisfied via issuance of new PEB Shares at an issue price of RM1.07 per Share," it said.
Presently, PEB is a cash company without any core business. As at Sept 30, it has total cash of RM70.32mil.
The proposed acquisition is the company's plan to regularise its condition as a cash company and enabling existing shareholders to participate in the new business of renewable energy.
The acquisition is subject to approvals from the Securities Commission, Bursa Malaysia Securities Bhd, Energy Commission, Tenaga Nasional Bhd and shareholders of PEB at an extraordinary general meeting to be convened.
If what I read is true can limit up the whole week just to reach rm4 - 5....but can't get any sellers wanting to offload. Very rare to see such a gem of a deal, just sad that very little volume, seems all the shareholders are super confident and want to aim for higher value..
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....
fitriyahaya
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Posted by fitriyahaya > 2021-02-19 20:56 | Report Abuse
https://www.thestar.com.my/business/business-news/2021/02/19/pimpinan-ehsan-plans-to-acquire-solar-assets