KUALA LUMPUR: Datuk Seri Tan Han Chuan has launched a mandatory offer (MGO) for Eurospan Holdings Bhd
after increasing his stake to 67.14% from 14.22%.
Tan acquired 23.5 million shares, representing 52.92% in Eurospan for RM39.96mil cash or RM1.70 per share via direct business transactions on May 24.
Tan’s sister Datin Tan Ching Ching owns a 4.69% stake and is deemed a person acting in concert (PAC), giving them a total shareholding of 71.83%.
Tan is offering to acquire all the remaining shares of Eurospan at RM1.70 per share to be satisfied wholly in cash.
He intends to maintain the listing status on the Main Market of Bursa Malaysia.
Eurospan is involved in the manufacturing of furniture and wood-based products.
The counter closed up 18 sen, or 11.84% to RM1.70 with 340,600 shares traded.
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