KUALA LUMPUR: Batu Kawan Bhd
and its wholly-owned subsidiary Whitmore Holdings Sdn Bhd, together with persons acting in concert (PACs), have secured a combined 96.73% stake in MKH Bhd following the close of their mandatory takeover offer.
In a notice issued by Maybank Investment Bank Bhd on behalf of the offerors, the RM2-per-share cash offer closed at 5pm on Oct 8, 2026, following an extension of the closing date.
As at the closing date, the offerors and PACs collectively held 557.93 million MKH shares, representing 96.73% of the company's issued shares, excluding treasury shares.
This comprised 294.22 million shares, or 51.01%, held as at Aug 27, 2026, valid acceptances involving 255.71 million shares, or 44.33%, and a further eight million shares, or 1.39%, acquired or agreed to be acquired during the offer period.
The offerors had previously announced on Sept 14 that their combined shareholding had exceeded the 90% threshold and that they did not intend to maintain MKH's listing status on the Main Market of Bursa Malaysia.
Consequently, trading in MKH shares will be suspended from 9am on Oct 16, 2026, following the expiry of five market days from the extended closing date.
Batu Kawan and Whitmore will also arrange for MKH to undertake the necessary steps to withdraw its listing from Bursa Malaysia.
Separately, the offerors announced on Sept 30 that valid acceptances had reached at least 90% of the offer shares not already held by the offerors and PACs at the start of the offer.
As a result, they will invoke the compulsory acquisition provisions under Section 222(1) of the Capital Markets and Services Act 2007 to acquire the remaining shares from dissenting shareholders.
The compulsory acquisition notice will be issued to the remaining shareholders within two months from Sept 30, 2026.
The takeover offer was made through Whitmore Holdings, with Batu Kawan acting as the ultimate offeror.
