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 included a special dividend, which would be distributed to shareholders upon the implementation of the privatisation scheme.
In a filing with Bursa Malaysia, 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 EGM on Feb 28.
The process includes court approvals, a special resolution to restructure share capital, and an expected withdrawal from the stock exchange by March 19, 2025.
Shareholders eligible for the special dividend would be determined based on a record date of March 14, with payments expected to be dispatched by March 26.
