Takeover offer for Yee Lee extended again

PETALING JAYA: Yee Lee Corp Bhd joint offerors have extended again the deadline for acceptance of its takeover offer from 5pm tomorrow, to 5pm on Wednesday, July 3.

In a filing with Bursa , the company said that the extension of the closing time and date for the acceptance of the offer is the final extension, with no further extensions beyond the final closing date of July 3.

As at June 18, the joint offerors collectively hold 159.10 million Yee Lee shares, representing 83.04% of the issued shares in Yee Lee.

“The joint offerors have received acceptances (subject to verification) in respect of an additional 374,136 Yee Lee shares (representing 0.2% of the issued shares in Yee Lee),” the company said.

In April, Yee Lee announced an unconditional voluntary takeover offer by its major shareholders to acquire the remaining shares they do not already own in the company for RM2.33 a share.

Yee Lee received the voluntary takeover offer from Yee Lee Organization Bhd, executive chairman Datuk Lim A Heng @ Lim Kok Cheong, Datin Chua Shok Tim @ Chua Siok Hoon, Lee Ee Young and Langit Makmur Sdn Bhd.

Earlier this month, the joint offerors extended the closing date for the takeover offer from June 7 to June 21, giving shareholders an additional two weeks to consider the offer.

In its independent advice circular published in May, independent adviser Affin had said that the takeover offer is not fair but reasonable, and recommended that holders accept the offer.

Source: The Sun Daily

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