Thursday 28 Mar 2024
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KUALA LUMPUR (Nov 14): Kumpulan Powernet Bhd’s substantial shareholder Datuk Dr Mohd Abdul Karim Abdullah owned 40.65 million shares, or a 53.38% stake, in the group at the close of his takeover offer yesterday.

This was announced by RHB Investment Bank Bhd on behalf of Kumpulan Powernet in a statement today.

The statement said Abdul Karim, who is also the managing director and chief executive officer of Serba Dinamik Holdings Bhd, intends to maintain the listing status of Kumpulan Powernet on the Main Market of Bursa Malaysia.

Abdul Karin made the mandatory general takeover offer on Oct 2 after raising his stake in Kumpulan Powernet to 36.49%, following the purchase of 12.25 million shares or 16.09% for RM12.25 million or RM1 per share.

He had offered to buy the remaining shares at RM1 each.

Today, Kumpulan Powernet shares closed eight sen or 5.9% higher at RM1.62, giving the group a market capitalisation of RM123.36 million.

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