Maika Shareholders ~ Unable to Find

Malaymail reported all the letters posted to call upon the Maika sharholders return to the headquarters. Those addresses were registered some 28 years ago. 

What more to expect? Do we expect them to stay put in one place after 28 years?

Not only address were changed but do we expect those shareholders who bought the shares when their age were about 60 to 70 years to be alive till today after 28 year to claim the money?

And what next? Does this means, all those who can't be found was pro claim dead?

The below news was reported by Malaymail

KUALA LUMPUR: Sacks of offer letters sent out to more than 60,000 Maika Holdings Bhd shareholders have been returned to the Maika headquarters as Pos Malaysia was unable to trace the addresses given.

In a statement here Saturday, a G Team Resources & Holding Bhd spokesman said this could be due to the change of addresses or the shareholders having shifted elsewhere as the addresses were registered some 28 years ago when purchasing their shares.

The posting of the offer documents and acceptance forms to Maika shareholders started on June 1, 2010 while the closing date for the offer is June 22, 2010, unless extended by G Team Resources.

Shareholders who have lost their share certificates or were in possession of share certificates not registered in their name or who have difficulty receiving mails, may contact Tricor Investor Services Sdn Bhd at 03-22643883 or call 03-31694007 during office hours.

Those accepting the offer should complete and sign the acceptance form and submit it together with the relevant documents to Tricor.

The completed acceptance forms and relevant documents may also be deposited at selected CIMB Bank branches in Peninsular Malaysia.

CIMB Investment Bank is the adviser and financier to G Team Resources for this exercise.

The details of Tricor and the selected CIMB Bank branches are contained in the offer documents and acceptance forms.

On May 12, 2010, a notice of conditional takeover offer was served on the Maika board of directors to inform them of G Team Resources' intention to acquire all the Maika shares.

The rationale for the offer is to return to Maika shareholders their cost of investment in the company on the basis of a cash offer price of 80 sen for each Maika share held.

The Malaymail

All comments are good comments. There are no bad comments or good comments. So everyone have the right to comment. How about you?