KUALA LUMPUR: PLUS EXPRESSWAYS BHD [] has resolved that the UEM Group-Employees Provident Fund offer as a confirmed offer after the latter had remitted the RM50 million cash deposit.
PLUS said on Monday, Jan 17 the board had evaluated the financiers' letter concerning UEM and EPF's financial ability to undertake and complete their proposed acquisition of'' PLUS's business and the cash deposit within the stipulated deadline.
'Since Jelas Ulung Sdn Bhd did not comply with the conditions as announced by PLUS on Dec 21, 2010, the board has informed Jelas Ulung in writing that the board will not evaluate, consider nor table Jelas Ulung's offer for consideration by PLUS's shareholders.
PLUS said the board had also resolved to proceed with the adjourned EGM for the purpose of tabling the resolutions as contained in the Notice of EGM dated Nov 30, 2010.
PLUS said on Monday, Jan 17 the board had evaluated the financiers' letter concerning UEM and EPF's financial ability to undertake and complete their proposed acquisition of'' PLUS's business and the cash deposit within the stipulated deadline.
'Since Jelas Ulung Sdn Bhd did not comply with the conditions as announced by PLUS on Dec 21, 2010, the board has informed Jelas Ulung in writing that the board will not evaluate, consider nor table Jelas Ulung's offer for consideration by PLUS's shareholders.
PLUS said the board had also resolved to proceed with the adjourned EGM for the purpose of tabling the resolutions as contained in the Notice of EGM dated Nov 30, 2010.
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