KUALA LUMPUR: BERJAYA SPORTS TOTO BHD [] has confirmed there has been preliminary discussions within the company on a possible corporate exercise which may result in the entry of a strategic investor.
The company said on Thursday, Dec 23 that while there had been initial contact with several potential strategic investors, no negotiations have been conducted with any strategic investor at this juncture.
BToto explained there were no negotiations since the internal discussions and planning were still ongoing.
The company was confirming a report in The Edge Financial Daily which appeared on Thursday entitled 'Possibility of strategic investors for BToto'.
'Shareholders should take note that the corporate exercise may or may not come to fruition and hence they should take this into account in making any investment decisions. A detailed announcement will be made in due course should parties succeed to come to terms,' said BToto.
BToto however clarified that Tan Sri Vincent Tan Chee Yioun, who is the chairman/CEO of BERJAYA CORPORATION BHD [] had not personally purchased any BToto shares in the period from June 2010 to-date.
It said Tan had instead sold 39.8 million BToto shares from his personal holdings during the period. BCorp is the ultimate holding company of BToto.
'BCorp and its subsidiary companies had purchased BToto shares in the open market as stated in the article and consequently, Vincent Tan being a substantial shareholder of BCorp is deemed to have an interest in these purchases,' it said.
The company said on Thursday, Dec 23 that while there had been initial contact with several potential strategic investors, no negotiations have been conducted with any strategic investor at this juncture.
BToto explained there were no negotiations since the internal discussions and planning were still ongoing.
The company was confirming a report in The Edge Financial Daily which appeared on Thursday entitled 'Possibility of strategic investors for BToto'.
'Shareholders should take note that the corporate exercise may or may not come to fruition and hence they should take this into account in making any investment decisions. A detailed announcement will be made in due course should parties succeed to come to terms,' said BToto.
BToto however clarified that Tan Sri Vincent Tan Chee Yioun, who is the chairman/CEO of BERJAYA CORPORATION BHD [] had not personally purchased any BToto shares in the period from June 2010 to-date.
It said Tan had instead sold 39.8 million BToto shares from his personal holdings during the period. BCorp is the ultimate holding company of BToto.
'BCorp and its subsidiary companies had purchased BToto shares in the open market as stated in the article and consequently, Vincent Tan being a substantial shareholder of BCorp is deemed to have an interest in these purchases,' it said.
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