PETALING JAYA: The New Straits Times Press (M) Bhd (NSTP) may soon say goodbye to its listed status but a group of minority shareholders could throw a spanner in the works.
Presently, Media Prima has completed its takeover of NSTP and now holds an 89.62% stake comprising 194.68 million shares of RM1 each in NSTP. However Media Prima will need to secure 90% of voting shares in NSTP before it can compulsorily acquire the remaining shares in NSTP. Furthermore, at least 10% of shareholders can block a de-listing of NSTP.
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