KUALA LUMPUR: Marine & General Bhd shareholders approved its proposed debt restructuring, recapitalisation and funding of its main operating subsidiary, Jasa Merin (Malaysia) Sdn Bhd (JMM) and its affected subsidiaries.
In a statement issued after the EGM on Tuesday, the company said the shareholders approved the proposed issuance of 1.5 billion new ordinary shares in M&G at the issue price of 10 sen per share amounting to RM150mil.
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