Thursday, 4 July 2013

Goldis aborts capital distribution plan

Goldis Bhd has backed off from a deal which would have seen its shareholders pocketing RM1.72/share or ending up as privately-held Steady Paramount Sdn Bhd’s stakeholders. Goldis said its board of directors decided not to put the proposal to vote. “The board had arrived at this decision after taking into consideration the negative feedback from Goldis’ shareholders on the proposed distribution,” it said. The core of the proposal centred on Goldis shareholders being asked to either trade off their shares in IGB Corp Bhd for cash, or opt to be Steady Paramount’s shareholders. Goldis has a 30.6% stake in IGB, which is its jewel in the crown, and shareholders were asked to part with the controlling stake in one of Malaysia’s biggest developer at below its market value. (BT)

Source: CIMB Daybreak - 04 July 2013

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