Shareholders approve L&G rights issue

Low Gay Teck, MD at EGM of Land & General Berhad. On the left is K C Ng, CFO and right Ferdaus Mahmood, Executive Director. -Art Chen/The Star

PETALING JAYA: Shareholders of Land & General Bhd (L&G) have approved the company’s rights issue of five year irredeemable convertible unsecured loan stocks (ICULS) and the proposed acquisition of a freehold 13-storey office block in Putrajaya.

At its EGM here yesterday, shareholders voted 80.77 to 19.23% in favour of the proposed ICULS while they voted 80.85 to 19.42% for the acquisition resolution.