G Team Resources & Holding Sdn Bhd said today the takeover of Maika Holdings Bhd, MIC's investment arm, has become unconditional after having secured 51 per cent share acceptance under the offer.
G Team Resources is a special vehicle set up by business tycoon Tan Sri G. Gnanalingam and Datuk S. Kunasingam.
It said the actual number of shareholders who have accepted the offer was 67.64 per cent as of yesterday.
However, there are some administrative issues to be resolved with regard to documentation especially members who have lost their share certificates and those representing deceased shareholders.
Shareholders are still walking into Tricor and Maika offices to submit their acceptance forms.
G Team said they are still open to accepting the shares especially from shareholders who have lost their share certificates and other related issues.
It said the saddest part about this issue is that there are more than 10,000 shareholders whose addresses are untraceable while many of the shareholders who have died did not inform their next-of-kin of their shareholding.
"It was our original intention to assist the very poor and we will not stop despite these obstacles. According to the laws of the takeover, we will keep the takeover offer open until 5pm on July 30 to pursue this.
"We have engaged the services of several NGOs, especially the Sri Murugan Centre and EWRF plus. We have sent mobile teams to visit estates where shareholders are located to assist them to fill the forms and submit their documents.
“More significantly, we have approached the National Registration Department to assist us to trace the new addresses especially if they have changed their identity cards lately. It will also help us verify the status of the deceased shareholders,” said a G Team spokesman.
Meanwhile, G Team has commenced takeover of Maika Board responsibilities and operations of the company. G Team is also awaiting official confirmation from the authorities to appoint new directors. -- BERNAMA
No comments:
Post a Comment