KUALA LUMPUR: UEM Edgenta
shareholders today approved the proposed selective capital reduction and repayment exercise (SCR), paving the way for UEM Group to increase its current 69.14 per cent stake in the asset management and infrastructure solutions company to 100 per cent.
In a statement, UEM Group said the SCR proposed by the group will take effect on lodgement of the sealed order from the High Court of Malaya with the Companies Commission of Malaysia.
The delisting of UEM Edgenta from the Main Market of Bursa Malaysia is expected to be completed in early July 2026, it said.
"Upon becoming the sole shareholder, UEM Group will work closely with UEM Edgenta to set strategic direction, pursue key initiatives, and manage its diversified businesses more effectively,” it added.
UEM Group will acquire the remaining 30.86 per cent stake in UEM Edgenta, equivalent to 257 million shares, at RM1.10 per share, with total cash repayment amounting to RM282 million.
During the extraordinary general meeting today, disinterested shareholders holding 97.09 per cent of the total value of disinterested shares voted in favour of the resolution.
The votes against (1.33 per cent) were below the 10 per cent threshold required for non-interested shareholders, meeting the conditions necessary for the resolution to pass.
UEM Group, a wholly owned subsidiary of Khazanah Nasional Bhd, informed the UEM Edgenta board in November last year of its intention to privatise UEM Edgenta by way of the SCR. - Bernama
