KUALA LUMPUR, Nov 3 — Kuala Lumpur Kepong Bhd (KLK) will withdraw the listing status of IJM Plantations Bhd (IJMP) as it has managed to secure more than 90 per cent of shares in IJMP after twice extending the mandatory takeover offer’s closing date. On its behalf, RHB Investment Bank announced...
KUALA LUMPUR, Nov 3 — Kuala Lumpur Kepong Bhd will withdraw the listing status of IJM Plantations Bhd as it has managed to secure more than 90 per cent of shares in IJMP after twice extending the mandatory takeover offer’s closing date.
In a stock exchange filing today, it said Bursa Securities would suspend the trading of the shares starting from Friday, November 26, 2021, being the expiry of five market days from the final closing date — Thursday, November 18, 2021 — in accordance with Paragraph 16.02 of the Listing Requirements. In addition, KLK would issue a notice to the dissenting shareholders in the manner specified by the Securities Commission, it said.To recap, KLK made a cash offer of RM3.10 for the remaining IJMP shares that it did not hold following the acquisition of shares that gave it and persons acting in concert 57.62 per cent equity interest in IJMP.
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