Wednesday August 29, 2012
UM Land shares to be suspended
PETALING JAYA: Trading in the shares of United Malayan Land Bhd (UM Land) will be suspended with effect from 9am on Sept 5.
A Bursa Malaysia Securities circular said the suspension was pursuant to the Main Market listing requirements. The suspension follows the unconditional take-over offer by Seleksi Juang Sdn Bhd and persons acting in concert with it (PACS) for a cash consideration of RM2.50 per share.
Based on valid acceptances as at 5pm on Monday, the offeror and its PACS held 283.65 million UM Land shares, or 94.04% of the total issued and paid-up share capital (excluding treasury shares).
As the offeror does not intend to maintain the listing status of UMLand, trading would be suspended immediately upon the expiry of five market days from Monday.