KUALA LUMPUR: Hotel and property specialist Tradewinds Corp Bhd (TCB) has received a RM347 million takeover offer from its largest shareholder Perspective Lane (M) Sdn Bhd and two sister companies.
Perspective Lane, Kelana Ventures Sdn Bhd and Seaport Terminal (Johore) Sdn Bhd, all controlled by Tan Sri Syed Mokhtar AlBukhary, plan to privatise TCB via a selective capital reduction (SCR) and repayment exercise.
TCB yesterday said Perspective Lane will cancel one TCB share held by other shareholders not linked to it and the other two offerors.
They will pay RM1.10 for every cancelled share, TCB said in a statement to Bursa Malaysia yesterday.
The SCR of 347 million shares will reduce TCB's issued and paid-up capital from 1.11 billion shares to 759.03 million shares.
TCB yesterday said Perspective Lane will cancel one TCB share held by other shareholders not linked to it and the other two offerors.
They will pay RM1.10 for every cancelled share, TCB said in a statement to Bursa Malaysia yesterday.
The SCR of 347 million shares will reduce TCB's issued and paid-up capital from 1.11 billion shares to 759.03 million shares.
Read more: Syed Mokhtar firms make RM347m offer for Tradewinds http://www.btimes.com.my/Current_News/BTIMES/articles/20120914230940/Article/index_html#ixzz26g007KEl
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