KUALA LUMPUR, April 3 — Maybank Investment Bank Bhd (Maybank IB) today clarified that the total share acceptances received by JAG Capital Holdings Sdn Bhd from KUB Malaysia Bhd...
How do Malaysia’s MPs lose their seats and party memberships? Here’s what the Federal Constitution and party constitutions sayMaybank IB said in a statement today that a total of 163.81 million shares representing 29.44 per cent of KUB shares were completed and valid in all respects, while a further 865,735 KUB shares were still subject to verification.
Maybank IB said in a statement today that a total of 163.81 million shares representing 29.44 per cent of KUB shares were completed and valid in all respects, while a further 865,735 KUB shares were still subject to verification. Previously, JAG Capital is offering an unconditional mandatory takeover offer to KUB Malaysia Bhd through Maybank IB, to acquire 86.65 per cent shares in power cable manufacturer, Central Cables Bhd for RM119.42 million.
Maybank IB said the purchase consideration was to be satisfied via the issuance of 199.03 million new redeemable convertible preference shares in KUB at 60 sen per offer share.It is noteworthy that JAG is controlled by Minister of Plantation Industries and Commodities Datuk Seri Johari Abdul Ghani, who holds a 98.75 per cent stake in the company.
JAG would take KUB private should it obtain more than 90 per cent shareholding in the latter, according to a filing with Bursa Malaysia. Otherwise, it would keep KUB listed. — Bernama
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