KUALA LUMPUR (March 23): The Samling group has increased its stakes in Lingui Developments Bhd and Glenealy PLANTATION []s (Malaya) Bhd to 67.23% and 53.68% on Thursday under its proposed privatisation exercise by Samling Global Ltd (SGL)
It said on Friday that based on the remaining 216.156 million shares or 32.77% which it would have to acquire from Lingui’s minority shareholders, the amount would be RM352.34 million, based on the offer price of RM1.63 per share.
As for Glenealy, SGL’s acquisition of the remaining 52.84 million shares or 46.32% stake at RM7.50 per share would total to RM396.32 million.
SGL intends to finance up to 86.5% of the funding requirement for the proposed Lingui and Glenealy privatisation via borrowing from Samling Strategic Corporations Sdn Bhd (SSC) on normal commercial terms.
It said on Friday that based on the remaining 216.156 million shares or 32.77% which it would have to acquire from Lingui’s minority shareholders, the amount would be RM352.34 million, based on the offer price of RM1.63 per share.
As for Glenealy, SGL’s acquisition of the remaining 52.84 million shares or 46.32% stake at RM7.50 per share would total to RM396.32 million.
SGL intends to finance up to 86.5% of the funding requirement for the proposed Lingui and Glenealy privatisation via borrowing from Samling Strategic Corporations Sdn Bhd (SSC) on normal commercial terms.
