MWE wants one more month to decide on take over offer
10 Dec 2015 / 05:36 H.
PETALING JAYA: MWE Holdings Bhd has requested for a one-month extension until January 9, 2016, to consider the take over offer from its substantial shareholder, Tan Sri Surin Upatkoon-owned Pinjaya Sdn Bhd.
It told Bursa Malaysia yesterday, that non-interested directors, having deliberated on the offer, need another month to decide on the offer and wrote to Pinjaya yesterday for the extension of time.
Pinjaya had required the offer to be accepted on or before 5.30pm on December 10.
Last week, tycoon Surin, who owns Surin owns a direct stake of 0.34% and an indirect stake of 30.80% through his private vehicle Pinjaya, launched a take over for MWE at RM1.70 per share.