SHAH ALAM: Pelikan International Corp Bhd
shareholders have given the greenlight to the company’s proposal to streamline its assets and unlock the value for 231.2 million euros (RM971mil), which will see its cash per share increase from 22 sen to RM1.00 upon completion.
After the company’s EGM, its president and chief executive officer Loo Hooi Keat (pic) said the company would be in a position to distribute the extra cash to its shareholders after the corporate exercises that included private placement, contribution in kind, cash issue and offer for sale.
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