Friday, January 28, 2011

SC, Bursa raises threshold to 75% of shareholder nod for asset sale

KUALA LUMPUR: The Securities Commission and Bursa Malaysia announced the threshold for shareholder approval relating to a listed company selling its assets and no longer suitable for continued listing on Bursa Malaysia has been raised to 75%.

'This will apply to all new assets disposals announced on or after Jan 28, 2011,' they said on Friday, Jan 28.

The SC will provide the guidance on the interpretation of the standard of 'fair' and 'reasonable' that is applied by independent advisers in assessing the take-over offers.


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