YTL Corp extends YTL Land’s privatisation offer deadline to Oct 7

TheEdge Thu, Sep 19, 2019 10:15am - 1 year ago

KUALA LUMPUR: The deadline of YTL Corp Bhd’s privatisation offer for YTL Land & Development Bhd has been extended again to Oct 7 from Sept 20.

YTL Land said in a Bursa Malaysia filing that it had received the press notice on the extension from Maybank Investment Bank Bhd, on behalf of YTL Corp, which does not intend to maintain YTL Land’s listing on Bursa.

YTL Land said “this will be the final extension” for the offer’s closing date.

“Notice of the said extension will be posted to the holders accordingly. Save for the final closing date, all other details, terms and conditions of the offer remain unchanged,” YTL Land said.

YTL Corp’s privatisation offer for YTL Land was first announced on June 13.

YTL Corp sought to buy the remaining shares in YTL Land not owned by the offeror at 36 sen each. YTL Corp also offered to buy outstanding YTL Land irredeemable convertible unsecured loan stocks at 32 sen each.

On Aug 27, YTL Corp announced that the closing date for acceptance of the offer was extended to Sept 20 from Aug 30.

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