“Following the proposed acquisition, GenUSA now holds a 38.3% equity stake in Empire on an undiluted basis and 33.3% on a fully diluted basis assuming full conversion of all preferred stock currently outstanding into Empire's common stock.”
According to a filing with the bourse, the gaming tycoon, better known as the founder of Hong Kong-listed NagaCorp Ltd, also holds 832.42 million or 82.01% of outstanding warrants.
Yeo said there is lack of power supply in the central region, coupled with the limited transmission capacity from the northern and southern region that will not be able to feed the demand in case there is power shortage in the central region.
The proposed disposal is via a SPA entered between its unit Active Trio Deluxe Sdn Bhd (ATDSB) and Acter Carton Enterprise.
During the 1MDB-Tanore trial yesterday, Former 1MDB chief executive officer Datuk Shahrol Azral Ibrahim Halmi denied he was part of a plot to defraud the fund, even though he had presented to his board of directors, proposals to continue partnering with PSI in 2010 — after their dubious JV a year ago.
This extended schedule will be in force until the end of next week to make up for the controversial absence of Najib on Oct 31.
The shareholders are Ng Wai Yuan, Datin Sek Chian Nee, Low Swee Foong and Datuk Tan Wei Lian
According to Former 1Malaysia Development Bhd (1MDB) chief executive officer Datuk Shahrol Azral Ibrahim Halmi, the plan was for 1MDB to raise RM5 billion and RM10 billion through bridging loan facilities for TRX — at the time known as the Kuala Lumpur International Financial District (KLIFD) — and Bandar Malaysia, where the old Sungai Besi military airport was located, respectively.
"We submit the accused is using his MC as abuse to obtain adjournment and prolong the trial. There must be sanction on this utter contempt for court proceedings," Datuk Gopal Sri Ram told the court.
At the KL High Court today, Justice Datuk Azimah Omar ordered the former minister to pay RM2,000 costs to the plaintiff after the defendant withdrew the application.
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