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Not quite the case. In order to be delisted (in this case if JCCL owns more than 90% of the free float), JCCL still needs to make an Exit Offer to all minority shareholders, and the requirement for an Exit Offer is as high as a SCR.
Long story short, assuming JCCL now owns 90% of CCB and goes on to make that Exit Offer, it needs effectively 7.5% of the free float shareholding to accept. It won’t happens until JCCL gets the >3.5% shareholding of OPen Road Asia Sdn Bhd.
JCCL quite stupid. Last year SCR failed should already learn that “someone” is trying block their privatisation plan. Before launching the VGO, go talk to the “someone” lah moron
