Benjakoda (01665) was privatized at a premium and resumed trading on December 20

According to Zhitong Finance App News, Benjakoda (01665) and offenders Puga Holdings Limited and Pentamaster Corporation Berhad jointly announced that on December 19, 2024, the joint offeror signed an implementation agreement with the company. According to this, the joint offeror requested the board of directors to submit the proposal to the planned share holders to privatize the company in the form of a plan arrangement in accordance with section 86 of the Company Law. The cancellation price per planned share was HK$0.93, a 16.3% premium over the closing price of HK$0.8 per share on the last trading day. The company has applied to the Stock Exchange to resume trading on the Stock Exchange at 9:00 a.m. on December 20, 2024.

According to the proposal, the company will also declare a special dividend of HK$0.07.

Therefore, if the plan is binding and effective in accordance with its terms and conditions, plan shareholders on the company's shareholders' register on the record date will receive a total of HK$1.00 in cash per share of the plan in accordance with the proposal.

According to the Joint Offeror Agreement, after the plan comes into effect, Puga and PCB will each own approximately 29.00% and 71.00% of the company's interests, and the listing status of their shares on the Stock Exchange will be withdrawn.

According to reports, as of the announcement date, Puga held 17.38%, 67.02%, 6.00%, 3.60%, 3.00% and 3.00% of the interests of Beacon Path, Supari, Digimoc Holdings Limited, Hongcheng Venture Capital (Co., Ltd.), Mr. Chen Xinyou, and Mr. Chen Xinzuo, respectively. Puga is a special purpose company formed to acquire planned shares in accordance with this proposal. As of the date of the announcement, Puga did not hold any investments or assets (other than the cash used to fund the proposal). The sole director of Puga is Mr. Wang Liwei. He is currently a partner of China Capital and has over 15 years of experience in corporate finance and accounting.

PCB has been listed on the main board of Bursa Malaysia Limited since 2004 (stock code: 7160), and has been included in the FTSE Social Responsibility Malaysia Stock Exchange Index since 2021. On the date of the announcement, Mr. Chuah is the single largest shareholder of PCB. He owns about 19.74% of PCB's shares.