In conjunction with the proposed land disposal, TPD, KWAP and Persada Mentari Sdn Bhd (PMSB) had signed a shareholders’ agreement to regulate their relationship in PMSB, currently a unit of TPD, to be owned on a 80.0% (TPD) : 20.0% (KWAP) basis to develop the STP 2A.
E&O also proposed to undertake a proposed restricted issue of 66.10 million new E&O shares to KWAP at an issue price within the range of RM1.84 to RM1.94, which willl enable to raise RM121.62mil.
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