Pitahaya concludes MGO of Pimpinan Ehsan


In a filing with Bursa Malaysia, PEB said Pitahaya received total acceptances for 1,840 shares (including 430 subject to verification).

KUALA LUMPUR: Pitahaya (M) Sdn Bhd has concluded the mandatory general offer (MGO) of Pimpinan Ehsan Bhd (PEB).

In a filing with Bursa Malaysia, PEB said Pitahaya received total acceptances for 1,840 shares (including 430 subject to verification).

Post-MGO, Pitahaya’s shareholding in PEB remains substantially the same at 37.4%.

To recap, Pitahaya and parties acting in concert have, on Feb 19, acquired a total of 45.28 million shares, representing 65.5% of the equity interest in PEB, for a total RM45.8mil cash, triggering an unconditional MGO.

reNIKOLA Sdn Bhd director Lim Beng Guan, who on Feb 25 had been appointed onto the board of directors of PEB as an executive director, is deemed the ultimate offeror in the exercise.

PEB has also entered into a heads of agreement with renewable energy company reNIKOLA, as well as Boumhidi Abdelali and Tengku Zaiton Ibni Sultan Abu Bakar, for the acquisition of the entire stake in reNIKOLA on Feb 19.

Lim said the company took pride in the low acceptance rate of the MGO as it reflected minority shareholders confidence in the transformation plan of PEB.

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