Listen there are 2 separate matter u should know loh...!!
1. If they acquire 90% they can delist Yeelee but they can never compulsory acquire your share loh.....!!
2. They can fully privatise your share provided they can acquire 90% of the balance 10% of the share non own by them mah....!! In other words they need to own 99% to complsory acquire the remaining 1% share loh....!!
Remember u have fought them well previously when they offer u rm 2.33 u did not accept.
And now they offer u Rm 2.06 u should ask them to fuck off mah....!!
They own close to 90% why do they still want to acquire your share leh ??
This is bcos they need to completely privatise in order to have a free hand in extracting exceptional value in YEE LEE mah....!!
So as a shareholder u should not afraid even if they delist, bcos they is exceptional huge value in yeelee ready to be unearthed and u r still a shareholder of yeelee mah...!!
Thus Raider advice u to hang tight, unless they offer at least Rm 2.50 per share for a win win solution loh.....!!
U MUST BE PREPARE TO HOLD TIGHT MO MATTER WHAT MAH...!!
SURELY THEY HAVE GONE SO FAR...NATURALLY THEY WOULD WANT U TO BE A CONTINUE SHAREHOLDER OF THE COMPANY MAH...!!
THUS THEY MUST PREPARE TO PAY MORE LOH..!!
Posted by Hafid > May 16, 2020 8:51 AM | Report Abuse
We refer to the previous announcements dated 13 June 2019, 11 July 2019, 28 August 2019, 28 November 2019, 24 December 2019 and 27 February 2020 in relation to the non-compliance with public shareholding spread requirement pursuant to Paragraph 8.02(1) of the Listing Requirements.
The terms used herein, unless the context otherwise stated, shall bear the same meaning as those defined in the earlier announcements in relation to the above matter.
On 12 May 2020, UOB Kay Hian Securities (M) Sdn Bhd ("UOBKH") had, on behalf of Yee Lee Organization Bhd, Dato' Lim A Heng @ Lim Kok Cheong, Datin Chua Shok Tim @ Chua Siok Hoon, Lim Ee Young and Langit Makmur Sdn Bhd (collectively the "Joint Offerors"), served a notice of offer on our Board of Directors ("Board"), informing the Joint Offerors' intention to undertake an unconditional voluntary take-over offer to acquire all the remaining ordinary shares in Yee Lee ("Yee Lee Shares") not already held by the Joint Offerors for a cash offer price of RM2.06 per Yee Lee Share ("Offer"). The Offer will remain open for acceptance from the date of the posting of the offer document for a period of not less than 21 days or such later date(s) as UOBKH may announce, on behalf of the Joint Offerors.
As stated in the notice of the Offer ("Notice"), the Joint Offerors do not intend to maintain the listing status of Yee Lee.
Subsequent to the serving of the Notice on the Board on 12 May 2020, one of the Joint Offerors, namely Langit Makmur Sdn Bhd, had acquired 274,900 Yee Lee Shares from the open market, which resulted in the Joint Offerors collectively holding, together with such Yee Lee Shares that were already held by the Joint Offerors, approximately 90.08% of the total voting shares of Yee Lee as at 13 May 2020. Accordingly, Yee Lee's public shareholding spread had reduced to approximately 9.92% on even date and in this regard, Yee Lee continues to be in non-compliance with the public shareholding spread requirements.
In accordance with Paragraph 16.02(3) of the Listing Requirements, as the Joint Offerors hold more than 90% of the listed shares in Yee Lee in relation to the Offer and in view that the Joint Offerors do not intend to maintain the listing status of Yee Lee, Bursa Securities will suspend the trading of Yee Lee Shares upon the expiry of 5 market days from the close of the Offer. Thereafter, the Joint Offerors will procure Yee Lee to take the requisite steps to withdraw its listing status from the Official List of Bursa Securities, in accordance with Paragraph 16.07 of the Listing Requirements.
Premised on the above, the Joint Offerors will not take any steps to address the shortfall in the public shareholding spread of Yee Lee.
This announcement is dated 14 May 2020.
