KUALA LUMPUR: Johan Holdings Bhd chief executive Tan Sri Tan Kay Hock has now sweetened his takeover proposal by increasing the offer price from 25 sen to 26 sen per share.

In a filing on Bursa Malaysia today, the firm said that Johan, alongside his wife Puan Sri Tan Swee Bee had via their vehicle Mustika Manis Sdn Bhd acquired a further 15 million Johan shares.

This represented a 2.41 per cent stake at 26 sen per share, totaling at RM3.9 million in cash.

Mustika Manis had on Wednesday acquired another 15 million Johan shares at 25 sen each, for RM3.75 million.

Tan and his wife had already collectively held 45.76 per cent stake in Johan via their vehicles Kin Fai International Ltd, Kwok Heng Holdings Ltd, Star Wealth Investment Ltd and Suncrown Holdings Ltd, prior to this.

The new development therefore brings the couple’s total shareholdings in Johan to 315.11 million shares, representing a 50.58 per cent stake.

It should also be noted that the offer has become unconditional as to level of acceptances as of today.

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