PETALING JAYA: 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.
In a filing with Bursa Malaysia, the company said the offer, which consisted of a cash offer price of 30 sen per share, was accepted and became unconditional yesterday.
In December last year, MyTech announced the 30 sen per share offer seeks to acquire the remaining 129.16 million MyTech shares not already owned by Cheng and the persons acting in concert, representing 52.48% of Mytech’s total issued shares.
Cheng, who previously had a 17.77%, stake now has 42.51% in the company.
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