Legal issues drag Pelikan’s corporate exercise

Pelikan President / CEO Loo Hooi Keat press conference after the AGM

PETALING JAYA: Legal issues brought on by minority shareholders linked to stationery manufacturer Pelikan International Corp Bhd’s German-listed unit Pelikan AG has dragged the corporate exercise first announced in 2014, said president and chief executive officer Loo Hooi Keat (pic).

“The asset injection exercise took longer than expected because the minority shareholders of Pelikan AG had filed an injunction on the deal and the asset involved global companies, so there are different jurisdiction that we need to go through,” he told reporters after Pelikan International’s AGM.