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Yee Lee gets takeover offer for RM2.06 per share

12 May 2020 / 19:23 H.

PETALING JAYA: Yee Lee Corp Bhd today received an unconditional voluntary takeover offer from its substantial shareholders to acquire all the remaining shares they do not own for RM2.06 per share.

The joint offerors are chairman Datuk Lim A Heng @ Lim Kok Cheong, substantial shareholder Datin Chua Shok Tim @ Chua Siok Hoon, executive director and group managing director Lim Ee Young and special purpose vehicle Langit Makmur Sdn Bhd, who collectively hold a 89.94% stake in the company.

“The joint offerors do not intend to maintain the listing status of Yee Lee,” the notice of unconditional voluntary takeover offer said.

The offer is not conditional upon any minimal level of acceptances and will remain open for acceptance from the posting date for a period of not less than 21 days.

Last year, the privatisation of Yee Lee did not materialise as the joint offerors were unable to garner enough acceptance for the voluntary takeover offer at RM2.29 per share.

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