KUALA LUMPUR (Aug 26): MB World Group Bhd's share trade will be suspended from 9am next Wednesday (Sept 2) as the joint offerors under the takeover offer for the property developer have collectively held more than 90% its shares and they do not intend to maintain the listing status of MB World on Bursa Malaysia's Main Market.

According to MB World's Bursa filings today and yesterday, Bursa will suspend trading of securities in MB World from Sept 2, with the date being the expiry of five market days from the final closing date of the voluntary takeover offer by joint offerors Kim Feng Capital Sdn Bhd, NgSinar Sdn Bhd and Ng Kok Boon at 99 sen a share.

"Kindly be advised that trading of MB World shares will be suspended with effect from 9am, Wednesday, Sept 2, 2020, pursuant to Paragraph 16.02(3) of the Main Market Listing Requirements.

"Your attention is drawn to the company's announcement dated Aug 25, 2020," MB World said in today's filing.

In yesterday's filings, MB World said as at 5pm on the final closing date yesterday, the joint offerors had received valid acceptances in respect of the offer shares, resulting in them holding 154.22 million (154,219,647) MB World shares, representing 97.99% of the total issued shares of MB World.

"As mentioned in the press notice dated July 24, 2020 in relation to the offer, the joint offerors collectively hold more than 90% of MB World shares pursuant to the offer and they do not intend to maintain the listing status of MB World on the Main Market of Bursa.

"The joint offerors will procure MB World to take the requisite steps to withdraw its listing from the official list in accordance with Paragraph 16.07 of the Listing Requirements," MB World said.

At 11.13am today, MB World's share price had fallen half a sen or 0.51% to 97.5 sen, which valued the company at RM153.45 million.

The stock saw 100 shares traded.

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