KUALA LUMPUR (Feb 20): The two major shareholders of Nilai Resources Group Bhd have requested the company undertake a selective capital repayment exercise under Section 64 of the Companies Act, 1965.
Nilai Resources said on Monday it had received a letter from Akarmas Sdn Bhd and Tan Sri Dr Gan Kong Seng, who are the joint offerors, requesting the company undertake the corporate exercise.
“The board will deliberate on the above matter and decide on the next course of action. Accordingly, a further announcement will be made in due course,” it said.
Gan is the executive chairman of Nilai Resources. Akarmas is the largest shareholder with 62.63 million shares or 54.9% while Gan is deemed interest via his stake in Akarmas.
Nilai Resources said on Monday it had received a letter from Akarmas Sdn Bhd and Tan Sri Dr Gan Kong Seng, who are the joint offerors, requesting the company undertake the corporate exercise.
“The board will deliberate on the above matter and decide on the next course of action. Accordingly, a further announcement will be made in due course,” it said.
Gan is the executive chairman of Nilai Resources. Akarmas is the largest shareholder with 62.63 million shares or 54.9% while Gan is deemed interest via his stake in Akarmas.
