Petaling Jaya: PLUS Expressways Bhd's minority shareholder walked out from an ongoing EGM at around 12.30pm.
Disgruntled shareholders marched out from the hall exclaiming the EGM to be illegal and called for a boycott of the meeting.
The board of directors have just stepped out from the hall for a short break after three hours into the meeting.
The meeting will resume after the short break. It is understood that only one resolution has been voted for at the moment.
PLUS has called for the EGM to table a takeover proposal from UEM Group and the Employees Provident Fund for RM23bil, or RM4.60 per share.
PLUS' major shareholders, who are also the offerors in the deal, UEM, its parent Khazanah, and EPF are abstaining from voting at the EGM.
Khazanah, UEM and EPF hold a combined 67.7%. EPF holds a 12.3% stake in PLUS while UEM Group, together with its parent Khazanah, holds 55.4% of the firm.
First published in The Star on February 23, 2011
The board of directors have just stepped out from the hall for a short break after three hours into the meeting.
The meeting will resume after the short break. It is understood that only one resolution has been voted for at the moment.
PLUS has called for the EGM to table a takeover proposal from UEM Group and the Employees Provident Fund for RM23bil, or RM4.60 per share.
PLUS' major shareholders, who are also the offerors in the deal, UEM, its parent Khazanah, and EPF are abstaining from voting at the EGM.
Khazanah, UEM and EPF hold a combined 67.7%. EPF holds a 12.3% stake in PLUS while UEM Group, together with its parent Khazanah, holds 55.4% of the firm.
First published in The Star on February 23, 2011
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