PETALING JAYA: Ornapaper Bhd
has received a conditional mandatory takeover offer from the Sai family at RM1.06 per share after their stake in the company rose to 33.01% following the acquisition of fresh shaves via Intisari Delima Sdn Bhd.
In a filing with Bursa Malaysia yesterday, Ornapaper stated the three joint-offerers – Sai Ah Sai, Sai Han Siong and Sai Chin Hock – intend to maintain the listing status of the company and do not intend to compulsorily acquire the remaining shares under Section 222(1) of the Capital Markets and Services Act.
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