"Maybank ATR Kim Eng Financial Corporation (“MAKE” or the “Company”) submitted to the Exchange the attached disclosure dated September 24, 2013, which stated that:
In line with the requirements of the Securities Regulation Code and the
Revised Disclosure Rules, we wish to inform your good offices and the
investing public that Maybank Kim Eng Holdings Limited (“MKEHL”) and
Mazy’s Capital, Inc. (the “Buyer”) have entered into a Share Purchase
Agreement today, whereby MKEHL agreed to sell to the Buyer a total of
958,923,466 of its issued and outstanding common shares in Maybank ATR
Kim Eng Financial Corporation (the “Company”) (the “Sale Shares”),
constituting 89.75% of the outstanding capital stock of the Company at a price
of Php3.3298 per share. The Sale Shares represent all of MKEHL’s
shareholdings in the Company.
The closing date for this sale transaction is set for 25 October 2013 (theSource:http://www.pse.com.ph/resource/disclosures/2013/pdf/dc2013-7334_MAKE.pdf
“Closing Date”) and is subject to certain conditions precedent, including the
sale for cash of substantially all of the assets of the Company to Maybank ATR
Kim Eng Capital Partners, Inc. (“MATRKECP”) and the assumption by
MATRKECP of all of the liabilities of the Company as of Closing Date. The
assets of the Company to be transferred to MATRKECP shall include the
Company’s shareholdings in its subsidiaries, AsianLife and General Assurance
Corporation and ATR Kim Eng Land, Inc. As a consequence of the foregoing,
the current businesses of the Company shall be consolidated under
MATRKECP. MKEHL acquired 100% of the outstanding common shares of
MATRKECP from the Company on 2 August 2013.
All of the officers and employees of MATRKE Financial are expected to resign
on or before the Closing Date. On Closing Date, a meeting of the Board of
Directors is expected to be held for the election of a new Board."
Check also this simple Technical Analysis in MAKE : http://psebuzz.blogspot.com/2013/09/make-my-day.html
No comments:
Post a Comment