Takeover offer price for Johan revised upwards

PETALING JAYA: The takeover offer price for Johan Holdings Bhd has been revised upwards by one sen to 26 sen per share.

The group told Bursa Malaysia that this is because the offeror, Mustika Manis Sdn Bhd, bought an additional 2.1% stake for 26 sen or RM3.9 million today.

The 26 sen offer price is to be equivalent to be price paid by the offeror for the second acquisition.

Following that, the offer price now represents a 1.33% premium to its five-day volume weighted average price of 25.66 sen.

Johan said the board will hold a board meeting to deliberate the offer and make an announcement in due course.

The offerors include its chairman Tan Sri Tan Kay Hock, his spouse Puan Sri Tan Swee Bee, Kin Fai International Ltd, Kwok Heng Holdings Ltd, Star Wealth Investment Ltd and Suncrown Holdings Ltd. It is the offerors' intention to maintain Johan's listing status.

Johan ended up two sen to 28 sen on some 1.01 million shares done today.