Oldtown Berhad

$OLDTOWN / 5201 (OLDTOWN BERHAD)

PETALING JAYA: The controversy surrounding OldTown Bhd has turned murkier, with one of its franchisees in China calling out the homegrown coffeemaker to take responsibility for its losses

$OLDTOWN / 5201 (OLDTOWN BERHAD)

AN interesting shareholder tussle seems to be brewing at ailing construction and property development outfit Tiger Synergy Bhd.
“I am not sure what is in the company but there have been quite a few fights for control,” says a high-level executive from a broking house.
In one corner is privately held Safari Alliance Sdn Bhd, a company linked to Goh Ching Mun, who is co-founder, former executive director and controlling shareholder of restaurant operator OldTown Bhd.

IN a year of few privatisation deals, that of Main Market-listed OldTown Bhd stood out.
A RM1.47 billion offer by a Dutch company to take the homegrown operator of contemporary kopitiam outlets private, at a time when it was struggling with growing competition and a tougher operating outlook, gave shareholders, including minorities, the opportunity to exit before things got worse.
This timely exit — at a price analysts covering the stock said was worth accepting as it was above their 12-month target prices — makes OldTown our privatisation of the year.

KUALA LUMPUR: Shares in homegrown coffeemaker OldTown Bhd, which also operates its own brand of coffee shops, will be delisted from Bursa Malaysia today, the same day when a notice will be sent to dissenting shareholders that Jacobs Douwe Egberts (JDE) will be compulsorily acquiring the remaining stake it doesn’t hold in the company.

KUALA LUMPUR (April 3): Shares of homegrown coffeemaker OldTown Bhd, which also operates its own brand of coffee shops, will be delisted from Bursa Malaysia tomorrow (April 4), the same day when a notice will be sent to dissenting shareholders that Jacobs Douwe Egberts (JDE) will be compulsorily acquiring the remaining stake it doesn't hold in the company.

OldTown Bhd
(March 21, RM3.12)

KUALA LUMPUR (March 20): Jacobs Douwe Egberts Holdings Asia NL BV (JDE Asia) has received valid acceptances for 456.78 million OldTown Bhd shares, representing a 98.6% stake in the company, following the closing of its offer today.
In a filing to Bursa Malaysia, OldTown said the offeror will compulsorily acquire the remaining shares as provided for by the Capital Markets and Services Act 2007 (CMSA).

PETALING JAYA: Jacobs Douwe Egberts Holdings Asia NL BV (JDE Asia) now holds up to 90.32%, or 418,393,925 of OldTown Bhd shares as at 5pm yesterday. Unless revised or extended, the offer will remain open for acceptance until 5pm on March 20 for the remaining shares, after which OldTown will be delisted.