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Media Prima: Moves to delist NSTP


Media Prima Bhd (MPB), which has completed its takeover exercise of the New Straits Times Press (M) Bhd (NSTP), is proceeding with the delisting of NSTP group. MPB said it had requested NSTP to undertake the proposed delisting exercise. As of 14 Apr 2010, MPB holds an 89.62% stake comprising 194.68m shares of RM1 each in NSTP. MPB said it was prepared to extend a voluntary general offer to acquire all the remaining shares not already owned at RM2.40 per NSTP share, to be satisfied by the issuance of six shares each in MPB at an issue price of RM2 and one new warrant in MPB for free, for every five NSTP shares accepted. (Financial Daily)