Closing date for Yee Lee takeover offer extended to June 21

Major shareholders offer RM185m to take edible oil trader Yee Lee Corp private

KUALA LUMPUR: The closing date for Yee Lee Corporation Bhd minority shareholders to accept the takeover offer from its executive chairman Datuk Lim A Heng @ Lim Kok Cheong has been extended by two weeks from June 7 to June 21.

UOB Kay Hian Securities issued the statement on Tuesday on behalf of the joint offerors.

Yee Lee share price ended unchanged at RM2.33 at midday.

In April, Yee Lee received the voluntary takeover offer from Lim, Datin Chua Shok Tim @ Chua Siok Hoon, Lee Ee Young and Langit Makmur Sdn Bhd. Lim is also chairman of Spritzer Bhd .

They offered to acquire the outstanding 41.59% stake comprising of 79.69 million shares at RM2.33 each or RM185.67mil.

According to Yee Lee, the joint offerors do not intend to maintain the listing status of the company. They will not take any steps to address any shortfall in the public shareholding spread.