Ambang Sehati Sdn Bhd has received more than 75% of the
total voting shares of Bandar Raya Developments Bhd (BRDB). In an announcement
to Bursa, BRDB said it was informed by
its joint advisors that Ambang Sehati had received valid acceptance of the
ordinary share of RM1 each in BRDB, resulting in its total shareholding
exceeding the threshold of 75% as of 5pm yesterday.
Consequently, BRDB will be deemed to have failed to comply
with the public shareholding spread required by Bursa. This would mean that
Ambang Sehati, which have made their intentions clear earlier on, will proceed
to take necessary procedures to de-list BRDB.
The offer on the remaining shares will remain open for
acceptance till Oct 4 while the offer for BRDB warrants will remain open for
acceptance till Sept 26, to coincide with the expiry date of the warrants.
–
The Edge
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