THE Securities Commission (SC) reprimanded yesterday two separate groups of people for their failure to undertake mandatory offers for the remaining voting rights in Jasatera Bhd after triggering, on separate occasions, the mandatory obligation under Rule 34.1 of the Malaysian Code on Take-overs and Mergers 1987.
A statement from the SC said the issuance of the reprimand did not remove the mandatory offer obligation for the balance voting rights in Jasatera on the part of the respective parties.