KUALA LUMPUR: Rexit Bhd
has received an unconditional mandatory general offer (MGO) from its new major shareholders.
The MGO was triggered after Datuk Seow Gim Shen, Metaco Asset Holdings Sdn Bhd and Bemas Holdings Sdn Bhd emerged in Rexit with a 53.27% stake collectively via a direct business transaction.
Rexit specialises in delivering solutions and services to the general insurance and financial services industry.
UOB Kay Hian Securities (M) Sdn Bhd on behalf of Rexit, in a statement said, the joint parties acquired the block of shares at 85 sen per share from three existing shareholders of the group — Rexit Ventures Sdn Bhd (41.2%), Global Hartabumi Sdn Bhd (11.94%) and the company's current chief executive Datuk Chung Hon Cheong (0.13%).
Seow acquired a 23.33% stake in Rexit, while Metaco and Bemas purchased an equity interest of 18% and 11.94%, respectively.
The three will now make a MGO for shares they do not own in Rexit at 85 sen a share. The offerors intend to maintain the listing of Rexit.
Rexit closed unchanged at 92 sen per share.
