Tuesday, October 11, 2011

Sime Darby, E&O share trading halted pending announcement

KUALA LUMPUR: Trading in the securities of SIME DARBY BHD [] and Eastern & Oriental Bhd will be suspended with effect from 9am, Tuesday, Oct 11 pending an announcement.

The companies in separate filings to Bursa Malaysia Securities early this morning announced the trading halt.

E&O had been in the spotlight since Sept 9 when Sime Darby bought RM766 million worth of shares from three vendors; Datuk Terry Tham, E&O's managing director, Tan Sri Wan Azmi Hamzah and GK Goh Holdings of Singapore at a 60% premium above the market price of RM2.30 per share.

Recently, ECM Libra Financial Group Bhd raised its shareholding in property developer Eastern & Oriental Bhd (E&O) to 6.62% after the recent acquisition of two million shares on Sept 29-30.

A filing with Bursa Malaysia on Oct 3 showed that ECM Libra's shareholding increased to 59.19 million shares.

On Sept 30, most of E&O shareholders rejected ECM Libra's two nominees to the company's board of directors.

As of Sept 22, ECM Libra held 6.3% of E&O, making it the second largest shareholder after Sime Darby which owns 30%.


No comments:

Post a Comment