However, due to public outcry, the share exchange agreement was cancelled eight months later. For fear of job cuts, it also faced strong opposition from the MAS union. IWC shares were last traded at RM 1.64 before the stock was suspended last Friday. IWH shares are valued at RM 1.50, an increase of 14% over the volume-weighted average price of RM 1.315. Wong also made a comparison with the SC of RM 573,150 for the same offence. In July 2011, he reportedly acquired 800,000 MAS shares. According to Reuters, CIMB was the advisor for the stock exchange- The swea-stock system is held on the basis of an IWC share for an IWH share. The latter will take listing status after the close of the share exchange, as indicated by the notification to Bursa Malaysia this evening. The Securities Commission Malaysia (SC) announced today that four individuals have purchased MAS shares in August 2011 in possession of inside information. The agreement provided that Khazanah Nasional Bhd (majority shareholder of MAS) and Tune Air Sdn Bhd entered into a share exchange agreement, which would result in a cross-shareholding of shares, resulting in Tune Air obtaining a 20.5% interest in the 10% mas mas and khazanah mas mas and khazanah in AirAsia, then publicly traded. While the national airline is still financially ill, at least four people, including AirAsia Bhd Chairman Datuk Kamarudin Meranun, are reported to have made some commercial profits as a result of the proposed share exchange agreement between the major shareholders of the time malaysia Airline System Bhd (MAS) and airAsia Group Bhd.
The share exchange plan was supposed to revive MAS, but it did not pick up speed. The proposed merger also includes asset acquisitions of 4.1 billion euros.RM of four parties, including Tan Sri Lim Kang Hoo and Sultan Ibrahim of Johor, by issuing new shares and issuing new convertible shares (RCPS). IWC stated that it had signed an agreement on the proposed merger with IWH, represented by its majority shareholder Lim. The share exchange plan was intended to revitalize MAS, but it did not pick up momentum. The purchaser intends to implement a 100% share exchange with the company, in accordance with Article 29 of the Taiwan Mergers and Acquisitions Act (“M-A Act”), the purchaser appointing a 100% subsidiary to acquire 100% of the company`s issued and unpaid capital shares (the “shares”), as described above. The shares described above (“share exchange”) are discounted by the TSEs on the date of the share exchange and, after the date of the exchange of share exchange data, the public reporting status of the entity is withdrawn; Kamarudin, which currently owns 32.18% of AirAsia, completed a 3.64 million.RM deal with the regulator on Tuesday to buy 5.66 million MAS shares in August 2011, the regulator said in a message on its website.