AN article in BizWeek of March 29 entitled Renong revamp: The good and bad contained some errors. Renong shareholders will NOT be required to pay any cash in ex-change for shares in a newco (to be renamed UEM World).
They will exchange 4 Renong shares with a par value of 50 sen each for 1 newco share with a par value of RM1 each to be issued at a price of RM1.60. This means that each Renong share is valued at 40 sen each.
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