Friday, June 25, 2010

Berjaya Corp, subsidiaries bought 56.7m BToto shares for RM247.9m

KUALA LUMPUR: BERJAYA CORPORATION BHD [] (BCorp) and its unlisted indirect subsidiaries bought from the open market 56.739 million BERJAYA SPORTS TOTO BHD [] shares, or 4.24%, from June 25, 2009 to June 24, 2010.

BCorp said on Friday, June 25 the company, Inter-Pacific Capital Sdn Bhd (IPC), Inter-Pacific Securities Sdn Bhd (IPS) and Bizurai Bijak (M) Sdn Bhd bought the shares for RM247.93 million or at an average acquisition price of RM4.37 per BToto share.

"The acquisitions have enabled the BCorp group to step up its interest in BToto via purchases in the open market, in a gaming company with good financial performance and dividend track record which provides lucrative yield to investors," it said.

The acquisitions were substantially funded by bank borrowings.

As at June 24, BToto's paid-up share capital was RM135.103 billion comprising 1.35 billion BToto shares. The number of BToto Shares that have been purchased, and which have been retained as treasury shares, is 13.53 million. The number of BToto Shares with voting rights of BToto is 1.337 billion BToto Shares as at June 24.

IPS is a unit of IPC which in turn is a 91.46% subsidiary of Berjaya Capital Berhad (BCapital). BCorp via Berjaya Group Bhd holds 100% indirect stake in BCapital and in Bizurai.

In addition to the above, Berjaya Land Berhad (BLand'), a 53.82% listed subsidiary of BCorp and several of BLand's unlisted subsidiaries , also hold 581.817 million BToto shares, or 43.50% stake in BToto.

BCorp and its subsidiaries together with the BLand Group own a total of 647.68 million BToto shares representing about 48.43% interest in BToto.

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