George Kent (Malaysia) Berhad's chairman Tan Sri Tan Kay Hock holds up the company's financial results at a press conference after the company's AGM
KUALA LUMPUR: Mustika Manis Sdn Bhd, the investment vehicle of Johan Holdings Bhd
chairman and chief executive Tan Sri Tan Kay Hock, managed to receive valid acceptances of only 0.26% of Johan’s voting shares at the close of its offer on Wednesday.
Johan - a property developer, ceramic tile maker and Diners Club card franchise operator - informed Bursa Malaysia that Mustika Manis attracted valid acceptances totalling 1.61 million shares.
This raised the shareholding of the offeror and its persons acting in concert (PACs) to 50.84%.
Mustika Manis, through an offer document dated Nov 1, had offered to buy all the remaining Johan shares not already owned by it and PACs for 26 sen each. (It had earlier offered 25 sen but made a revision after buying more shares, which raised the collective shareholding of it and its PACs to 50.58% on Oct 12.)
Mustika Manis is owned by Tan and his wife, Johan group managing director Datin Tan Swee Bee.
The couple did not intend to take Johan private when they made the offer.
Johan’s share price closed half a sen higher at 27 sen on Wednesday, with 2.2 million shares changing hands.
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