KUALA LUMPUR: LEONG HUP HOLDINGS BHD [] and EMIVEST BHD [] have received takeover offer totaling RM426 million from a major shareholder Emerging Glory Sdn Bhd to acquire all their assets and liabilities.
Leong Hup said on Thursday, Nov 18, the offer for its assets and liabilities was RM318.65 million or RM1.80 per ordinary RM1 share.
In a separate statement, Emivest said Emerging Glory had offered to acquire all assets and liabilities for RM108 million or 90 sen per ordinary 50 sen share.
Leong Hup and Emivest said both offers were inter-conditional and they would remain open for acceptance up till 5.30pm on Dec 20 after which it shall lapse unless Emerging Glory agrees to extend the period.
Emerging Glory said in the offer letter to Leong Hup that of the RM318.65 million, about RM169.70 million would be in cash and the remaining RM148.95 million as amount remaining due and owing by Emerging Glory as debt to Leong Hup.
Datuk Lau Bong Wong, Lau Chia Nguang, Datuk Lau Eng Guang, Tan Sri Lau Tuan Nguang, Leong Hup Management Sdn Bhd collectively hold 82.749 million Leong Hup shares or 46.74%.
As for Emivest, Emerging Glory offer letter stated that of the purchase consideration of RM108 million, about RM46.35 million would be in cash and the remaining RM61.64 million would be remaining due by Emerging Glory as debt due to Emivest.
Datuk Lau Bong Wong, Lau Chia Nguang, Datuk Lau Eng Guang, Tan Sri Lau Tuan Nguang, Mega Perfect'' (M) Sdn bhd coelctivekly hold 68.49 million Emivest shares or 57.08%.
Leong Hup said on Thursday, Nov 18, the offer for its assets and liabilities was RM318.65 million or RM1.80 per ordinary RM1 share.
In a separate statement, Emivest said Emerging Glory had offered to acquire all assets and liabilities for RM108 million or 90 sen per ordinary 50 sen share.
Leong Hup and Emivest said both offers were inter-conditional and they would remain open for acceptance up till 5.30pm on Dec 20 after which it shall lapse unless Emerging Glory agrees to extend the period.
Emerging Glory said in the offer letter to Leong Hup that of the RM318.65 million, about RM169.70 million would be in cash and the remaining RM148.95 million as amount remaining due and owing by Emerging Glory as debt to Leong Hup.
Datuk Lau Bong Wong, Lau Chia Nguang, Datuk Lau Eng Guang, Tan Sri Lau Tuan Nguang, Leong Hup Management Sdn Bhd collectively hold 82.749 million Leong Hup shares or 46.74%.
As for Emivest, Emerging Glory offer letter stated that of the purchase consideration of RM108 million, about RM46.35 million would be in cash and the remaining RM61.64 million would be remaining due by Emerging Glory as debt due to Emivest.
Datuk Lau Bong Wong, Lau Chia Nguang, Datuk Lau Eng Guang, Tan Sri Lau Tuan Nguang, Mega Perfect'' (M) Sdn bhd coelctivekly hold 68.49 million Emivest shares or 57.08%.
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