PETALING JAYA: Pentamaster Corp Bhd
has proposed to privatise and withdraw the listing of its Hong Kong-listed subsidiary, Pentamaster International Ltd from the Hong Kong Stock Exchange.
The proposal also includes a special dividend, which will be distributed to shareholders upon the successful implementation of the privatisation scheme.
In a Bursa filing, Pentamaster said a scheme document – which includes the proposal detailing, expected timetable, and recommendations from the independent board committee and financial adviser was dispatched on Feb 5, 2025 to shareholders.
Shareholders will vote on the proposal at the court meeting and extraordinary general meeting (EGM) on Feb 28, 2025. The process includes court approvals, a special resolution to restructure share capital, and an expected withdrawal from the stock exchange by March 19, 2025.
Meanwhile, shareholders eligible for the special dividend will be determined based on a record date of March 14, 2025, with payments expected to be dispatched by March 26, 2025.
