KUALA LUMPUR, June 23 -- BSL Corporation Bhd (BSL Corp) has received a notice of unconditional mandatory takeover offer today that Datuk Seri Dr Pang Chow Huat and Ho Jien Shiung have acquired 51.72 per cent stake in BSL from Esteem Role Sdn Bhd for about RM57.48 million in cash.
Pang is Sanichi Technology Bhd founder and managing director, while Ho is the executive director of PNE PCB Bhd and PDZ Holdings Bhd.
According to the notice of the offer from M&A Securities Sdn Bhd sent on behalf of Pang and Ho, that BSL Corp filed with Bursa Malaysia today, the two individuals had acquired 49.9 million shares in BSL from Esteem via direct business transactions at RM1.15 per share.
Prior to the acquisition, both Pang and Ho did not hold any shares in BSL, it said.
The notice said the offer price of RM1.15 represents a premium of 5.5 per cent to BSL’s closing price of RM1.09 on June 22 or 21.01 per cent premium to BSL’s three-month volume weighted average market price of 95.03 sen up until June 22, 2021.
“Following the acquisition, Pang holds 32.438 million BSL shares, representing 33.57 per cent equity interest in the company, while Ho holds 17.542 million BSL shares, representing 18.15 per cent equity interest in the company,” it said.
At 3.02pm, BSL Corp’s share went up five sen to RM1.14 with 7.63 million shares traded.
-- BERNAMA
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