Higher Acceptances Received For M3nergy Takeover Offer


I’ll just pull out what I think are the pertinent paragraphs from this Bernama article, dateline 2010-06-19:

Adamus Avenue Sdn Bhd (AASB), which launched a conditional takeover of M3nergy Bhd, offering RM1.85 per share, has received over 71 per cent acceptances for the voting shares of the oil and gas services provider, as of June 19.

Companies controlled by major shareholder, Tunku Datuk Yaacob bin Tunku Tan Sri Abdullah, who owns 71.14 per cent of M3nergy, have confirmed acceptance of the conditional offer.

…

Meanwhile, it was reported that AASB is a private company owned by Datuk Shahrazi Sha’ari, who is the current Group Managing Director and Chief Executive Officer of M3nergy.

Can you say, management buyout? We look forward to the new owner sending all their specialist process work to us.

This entry was posted on Saturday, June 26th, 2010 at 6:00 am and is filed under investment, Malaysia, oil and gas. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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