Thursday 28 Mar 2024
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KUALA LUMPUR (Oct 12): Shares of loss-making IT solutions provider Dataprep Holdings Bhd slumped as much 10.45% in active trade this morning after a printing and publishing firm today bought over Dataprep’s controlling shareholder’s entire stake in the loss-making IT solutions provider, and announced an unconditional mandatory takeover offer for the remaining shares.

At 9.21am, Dataprep fell 3 sen to 30.5 sen with 10.97 million shares done. The stock had earlier slipped to a low of 28 sen.

Wardah Communication Sdn Bhd acquired the 270.54 million shares or 64.2% stake in Dataprep from VXL Holdings Sdn Bhd at 16 sen a share. Its offer for the remaining shares is being made at the same price of 16 sen, representing a 23 sen or 58.97% discount to the group’s last closing price of 39 sen.

Wardah is controlled by Tan Sri Muhammad Ikmal Opat Abdullah and his wife Puan Sri Jamilah Mahamad Isa via the Widad Business Group Sdn Bhd.

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