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MyTech Group Bhd’s (KL:MYTECH) takeover offer by executive chairman Tan Sri Cheng Joo Teik closed on Tuesday (Feb 3) with the offeror and persons acting in concert (PACs) securing a 56.09% stake in the company.
MyTech Group Bhd has confirmed that Tan Sri Cheng Joo Teik and parties acting in concert (PAC) now hold more than 50% of the voting shares in the group.
MyTech Group Bhd (KL:MYTECH) said its takeover offer by executive chairman Tan Sri Cheng Joo Teik has turned unconditional after the parties acting in concert crossed the 50% shareholding mark.
For MyTech Group Bhd (KL:MYTECH) executive chairman Tan Sri Cheng Joo Teik’s 30 sen a share conditional takeover offer of shares he doesn’t own in the company, the independent adviser has deemed it ‘not fair and not reasonable’, and advised minority shareholders to reject the offer.
KUALA LUMPUR: Kerjaya Prospek Group Bhd has secured a RM225.0mn contract for the construction of a 50-storey serviced apartment and commercial development in Johor Bahru.
PETALING JAYA: Mytech Group Bhd has received a conditional mandatory takeover offer from its 79-year-old executive chairman Tan Sri Cheng Joo Teik, following share acquisitions that lifted his and persons acting in concert (PAC) collective stake in the company to 47.52%.
KUALA LUMPUR (Dec 12): Mytech Group Bhd (KL:MYTECH) has received a conditional mandatory takeover offer from its executive chairman Tan Sri Cheng Joo Teik to acquire all remaining shares he does not already own at 30 sen per share, after he upped his stake in the company by 17.7%.