PLUS buyout deal goes through despite small "ruckus"


  • Business
  • Wednesday, 23 Feb 2011

PETALING JAYA: PLUS Expressways Bhd received approval from its shareholders on a RM23bil takeover bid by major shareholder UEM Group and the Employee Provident Fund (EPF) despite a small ruckus followed by a walkout of minority shareholders.

A relatively big group of minority shareholders stormed out of an ongoing PLUS' extraordinary general meeting Wednesday afternoon claiming procedural irregularities, shouting their displeasure to those outside including members of the media.

The minority shareholders were shouting for a “boycott” of the “illegal” EGM while walking out from the hall.

PLUS' ancillary police were immediately seen at the doors of the hall following the walkout by shareholders in protest.

Senior independent non-executive director Tan Sri K. Ravidran who chaired the EGM denied there were procedural irregularities as claimed by minority shareholders.

“We did everything within the legal ambit of whatever we had to do,” he said.

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