Tenaga Nasional Bhd says the 21-year power purchase agreement with YTL Power Generation Sdn Bhd has expired on Sept 30, 2015.
KUALA LUMPUR: YTL Corporation Bhd
has extended the closing date for its takeover of YTL e-Solutions Bhd by another two weeks from Sept 5 to Sept 29.
The infrastructure group said on Tuesday that it had received valid acceptances and it held 1.218 billion shares or 90.6% of YTL e-Solutions share capital as at Sept 9.
Recall that it held 997.09 million shares or 74.12% at the date of the posting of the offer documents on Aug 15. Following the takeover offer since then, it received 16.48% or 221.72 million shares up to Sept 9.
YTL had not yet received sufficient acceptances to enable it to invoke the provisions of Section 222 of the Capital Markets and Services Act, 2007 to compulsorily acquire any remaining offer shares for which acceptances have not been received.
Once it has completed the acquisition, YTL has no plans to retain YTL e-Solutions' listing on the Ace Market of Bursa Malaysia Securities.
YTL eSolutions' key activities in Malaysia comprise development, ownership and operation of narrowcast digital media networks through Infoscreen Networks Ltd.
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