Tan raises of­fer for Jo­han shares to 26 sen

The Star Malaysia - StarBiz - - News -

PETALING JAYA: Af­ter ac­quir­ing an­other 15 mil­lion shares in Jo­han Hold­ings Bhd yes­ter­day at 26 sen each, con­trol­ling share­holder Tan Sri Tan Kay Hock has raised the of­fer to buy all the shares in the ce­ram­ics maker-turned-prop­erty de­vel­oper by one sen to 26 sen.

The lat­est ac­qui­si­tion, val­ued at a to­tal of RM3.9mil, raises his stake in the com­pany to 50.58%, mak­ing the of­fer un­con­di­tional.

He had ear­lier bought 15 mil­lion shares at 25 sen for RM3.75mil via Mustika Ma­nis Sdn Bhd, in which he and his wife, Puan Sri Tan Swee Bee, hold equal stakes.

RHB In­vest­ment Bank Bhd said in an an­nounce­ment to Bursa Malaysia on be­half of the of­ferer that the of­fer was re­vised to 26 sen per share to be equiv­a­lent to the price paid by the of­ferer for the lat­est ac­qui­si­tion.

Be­sides con­trol­ling Jo­han and be­ing its chief ex­ec­u­tive of­fi­cer, Kay Hock holds a 37.44% stake in Ge­orge Kent (M) Bhd, a man­u­fac­turer of wa­ter me­ters that has also gone into the rail­way con­struc­tion busi­ness.

He also holds the po­si­tion of chair­man of Ge­orge Kent, which on Wed­nes­day an­nounced to the stock ex­change that the com­pany had en­tered into a pre-con­sor­tium agree­ment with Siemens AG to bid for the multi-bil­lion-ring­git high­speed rail project link­ing Kuala Lumpur and Sin­ga­pore.

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