KUCHING: Press Metal Bhd has named Public Investment Bank Bhd as independent adviser to non-interested directors and shareholders on a proposed exemption sought by its major shareholder Alpha Milestone Sdn Bhd (AMSB) and persons acting-in-concert (PACs) from the Securities Commission (SC) to undertake a mandatory takeover offer for the remaining company shares and convertible securities not already owned by them after the conversion of more than RM233.9mil nominal value of eight-year 6% redeemable convertible secured loan stocks (2011/2019 RCSLS) by AMSB and Ong Soo Fan.
The PACs are Datuk Koon Poh Keong (also Press Metal chief executive officer) and brother Koon Poh Ming and their respective spouses Datuk Khoo Ee Pheng and Ong Soo Fan.
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