PETALING JAYA: Ho Wah Genting Bhd (HWGB) today received a conditional voluntary takeover offer from Ho Wah Genting Holding Sdn Bhd (HWGH) (offeror) for all the remaining shares and warrants in HWGB it does not already own for 12.5 sen per share and 1 sen per warrant respectively.
As HWGH is owned by Datuk Lim Ooi Hong, Lim Wee Kiat and Datuk Teo Tiew, they are considered the ultimate offerors in the exercise. Ooi Hong is HWGB managing director and CEO, while Wee Kiat is the executive director. Teo is HWGB executive chairman.
The offeror and ultimate offerors collectively hold 29.38% and 4.12% of shares and warrants respectively.
The persons acting in concert, which are Datuk Lim Hui Boon and Ho Wah Genting Group Sdn Bhd, collectively hold 0.40% and 0.46% of shares and warrants respectively. Hui Boon is the father of Ooi Hong and Wee Kiat.
“The offeror intends to maintain the listing status of HWGB on the Main Market of Bursa Securities,“ it said in a notice filed with Bursa Malaysia.
HWGB said the board will appoint an independent adviser to advise the non-interested directors and shareholders of the company, on the fairness and reasonableness of the offer.
HWGB closed up 4.55% at 23 sen today. Its share price has risen 15% from 20 sen on April 23.
source https://www.thesundaily.my/business/ho-wah-genting-receives-voluntary-takeover-offer-BF2340773
No comments:
Post a Comment