AmanahRaya Trustees to fully subscribe to MNRB rights shares

The undertaking by AmanahRaya is subject to its subscription not requiring it to offer a mandatory general offer to the remaining entitled shareholders following takeover rules in Malaysia. The subscription by AmanahRaya must also not result in MNRB breaching the public spread requirement under the listing requirements, it said.

PETALING JAYA: AmanahRaya Trustees Bhd, a major shareholder of MNRB Holdings Bhd with a 42.40% stake, has irrevocably undertaken to subscribe in full its portion of the rights issuance and any excess rights shares that are undersubscribed.

It is subject to AmanahRaya’s resulting shareholdings that will not exceed 44.3% under the proposed rights issue, MNRB said in an announcement to Bursa Malaysia.