KUALA LUMPUR: LEONG HUP HOLDINGS BHD []'s (LHHB) board has accepted the takeover offer from Emerging Glory Sdn Bhd for all the entire business, including assets and liabilities, for a purchase consideration of RM1.80 per share.
Upon completion of the proposed disposal, Emerging Glory proposes LHHB, subject to obtaining all requisite approvals, return all proceeds to shareholders, via a special dividend, bonus issue and/or capital repayment exercise.
LHHB said that except for interested directors Datuk Lau Bong Wong, Datuk Lau Eng Guang, Tan Sri Lau Tuang Nguang and Lau Joo Hong, the board had accepted the offer subject to the execution of a definitive agreement.
'Accordingly, the board agrees to present to the shareholders of the company the offer. The board, save for the interested directors, has also resolved that after the completion of the proposed disposal and subject to all requisite approvals being obtained, LHHB will proceed with the proposed capital repayment,' it said.
Upon completion of the proposed disposal, Emerging Glory proposes LHHB, subject to obtaining all requisite approvals, return all proceeds to shareholders, via a special dividend, bonus issue and/or capital repayment exercise.
LHHB said that except for interested directors Datuk Lau Bong Wong, Datuk Lau Eng Guang, Tan Sri Lau Tuang Nguang and Lau Joo Hong, the board had accepted the offer subject to the execution of a definitive agreement.
'Accordingly, the board agrees to present to the shareholders of the company the offer. The board, save for the interested directors, has also resolved that after the completion of the proposed disposal and subject to all requisite approvals being obtained, LHHB will proceed with the proposed capital repayment,' it said.
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