KUALA LUMPUR (Dec 22): Shares of poultry company Huat Lai Resources Bhd will be suspended from trading from Dec 30, after a unconditional voluntary takeover offer for the remaining stake of the company closed yesterday.
The founding Lim family had increased its stake in Huat Lai to 98.41% as of yesterday. The family already controlled 90% of Huat Lai's listed shares at the previous closing date of Dec 7.
The joint offerors, namely Esprit Unity Sdn Bhd, Lim Yeow Her, Lim Yeow Kian and Datuk Lim Yeow Siong, had launched a takeover offer of RM5 per share on Oct 24 and do not intend to maintain the company's listing status.
On Dec 16, Huat Lai announced that in two months, the joint offerors would invoke provisions of the Capital Markets and Services Act to compulsorily acquire any remaining offer shares which it had not accepted under the offer.
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