KUALA LUMPUR (Dec 17): Masterskill Education Group Bhd's major shareholder, Siva Kumar M Jeyapalan, has acquired a block of seven million shares in Perduren (M) Bhd on Dec 12, according to a filing with Bursa Malaysia this evening.

Following the acquisition, Siva Kumar is now a substantial shareholder, with 7.07 million shares or a 5.24% stake in the property investment holding company.

The share acquisition is part of the unconditional takeover offer made by Datuk Kamaluddin Abdullah, Datuk Mazlin Md Junid and parties acting in concert — which are Siva Kumar, Trillion Icon Sdn Bhd, Amira Properties Sdn Bhd, Intelek Kuasa Sdn Bhd, Paling Terbilang Sdn Bhd, Mizreen Capital Sdn Bhd and Accentvest Sdn Bhd.

Datuk Kamaluddin is the controlling shareholder of Trillion Icon, Amira Properties, Intelek Kuas and Paling Terbilang, while Datuk Mazlin is the controlling shareholder of Mizreen Capital and Accentvest.

The takeover notice was filed with the exchange on Dec 8, and will involve the joint offerers buying over the rest of the shares they do not already own in Perduren, for a cash offer of RM1.60 per share.

The joint offerors signed eight share purchase agreements with TS Law Group Sdn Bhd, to buy an aggregate of 93.5 million shares or a 69.3% stake.

It is intended for Perduren to retain its listed status on the Main Market of Bursa Malaysia.

Perduren shares closed six sen or 2.61% down at RM2.24, with a market capitalisation of RM302.22 million.