Ranhill Utilities to hold EGM on June 28

KUALA LUMPUR, June 14 — Ranhill Utilities Bhd will hold an extraordinary general meeting (EGM) virtually on June 28, 2021 to consider and approve the company’s proposed acquisition of stakes in two companies.

Ranhill has proposed to acquire a 100 per cent interest in Ranhill Bersekutu Sdn Bhd from Ranhill Bhd for RM93.87 million and 51 per cent equity interest in Ranhill Worley Sdn Bhd from Ranhill Group Sdn Bhd for RM117.95 million.

In a filing with Bursa Malaysia today, Ranhill Utilities said it has also proposed a diversification of its business activities and that of its subsidiaries to include the business of infrastructure, chemicals, resources and energy such as provision of engineering services and project management.

Besides that, it has also proposed for Tan Sri Hamdan Mohamad and any other persons acting in concert with him from the obligation to undertake a mandatory takeover offer to acquire the remaining ordinary shares in Ranhill not already owned by them upon the completion of the proposed acquisitions. — Bernama

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