KUALA LUMPUR (March 16): Datuk Seri Mohd nadzmi Mohd Salleh has resigned as chairman and director of PROTON HOLDINGS BHD [], the national carmaker told Bursa Malaysia Securities Bhd on Friday.
Ohd Nadzmi’z resignation followed the approval by shareholders of DRB-HICOM BHD [] on March 14 for the acquisition of the remaining equity interest in Poton after DRB-Hicom had increased its stake in Proton to about 50.01%.
He was a director nominated by Khazanah Nasional Berhad to the national carmake’s board
DRB-Hicom had on Jan 16 entered into a conditional share sale and purchase agreement (SSPA) with Khazanah Nasional Bhd to acquire 234.734 million ordinary shares of RM1.00 each in Proton representing approximately 42.74% of the issued and paid up share capital of Proton, for a total cash consideration of RM1. 29 billion or equivalent to RM5.50 for each ordinary share of RM1.00 each.
It subsequently acquired another 7.27% in Proton, taking its stake to 50.01%.
Maybank Investment Bank Bhd had on March 14, on behalf of DRB-HICOM, served a notice of unconditional take-over offer to the Board of Directors of PROTON informing of its intention to undertake an unconditional take-over offer to acquire all the remaining ordinary shares of RM1.00 each in PROTON ("PROTON Shares") not already owned by DRB-HICOM after the Acquisition for a cash consideration of RM5.50 for each PROTON Share.
“We wish to highlight that the resignation of Dato' Sri Mohd Nadzmi Bin Mohd Salleh as the Chairman of the Board of PROTON and all other appointments by virtue of Dato' Sri Mohd Nadzmi's position as Director of PROTON, is part of the terms of the SSPA,” said Proton.
Ohd Nadzmi’z resignation followed the approval by shareholders of DRB-HICOM BHD [] on March 14 for the acquisition of the remaining equity interest in Poton after DRB-Hicom had increased its stake in Proton to about 50.01%.
He was a director nominated by Khazanah Nasional Berhad to the national carmake’s board
DRB-Hicom had on Jan 16 entered into a conditional share sale and purchase agreement (SSPA) with Khazanah Nasional Bhd to acquire 234.734 million ordinary shares of RM1.00 each in Proton representing approximately 42.74% of the issued and paid up share capital of Proton, for a total cash consideration of RM1. 29 billion or equivalent to RM5.50 for each ordinary share of RM1.00 each.
It subsequently acquired another 7.27% in Proton, taking its stake to 50.01%.
Maybank Investment Bank Bhd had on March 14, on behalf of DRB-HICOM, served a notice of unconditional take-over offer to the Board of Directors of PROTON informing of its intention to undertake an unconditional take-over offer to acquire all the remaining ordinary shares of RM1.00 each in PROTON ("PROTON Shares") not already owned by DRB-HICOM after the Acquisition for a cash consideration of RM5.50 for each PROTON Share.
“We wish to highlight that the resignation of Dato' Sri Mohd Nadzmi Bin Mohd Salleh as the Chairman of the Board of PROTON and all other appointments by virtue of Dato' Sri Mohd Nadzmi's position as Director of PROTON, is part of the terms of the SSPA,” said Proton.
