PLUS gets approval from shareholders for UEM-EPF offer

• The following proposals were approved at the EGM yesterday:

1. Disposal of its entire business, including all assets and liabilities to UEM-EPF for RM23billion (or RM4.60/share)
2. Proposed distribution of cash proceeds from the disposal to shareholders.

• Press reported that some 100 disgruntled shareholders marched out of the EGM and called for a boycott of the meeting. Despite the incident, both resolutions were approved by minority shareholders. Khazanah and EPF, which collectively own 67.4% in PLUS, were not allowed to vote.