IPMUDA gets nod from shareholders on corporate exercises


IPMUDA Bhd has received its shareholders approval for its corporate exercises including a special cash dividend payout of 30 sen and acquisition of the 100% equity in Ultimate Forte Sdn Bhd which is owns and operates the Ohana Specialist Hospital, a 30-bed private hospital specialising in paediatrics and obstetrics and gynaecology in Seri Rampai, Kuala Lumpur.

At a virtual extraordinary general meeting, shareholders approved the sale of a leasehold property by Rosel-BLG Sdn Bhd, a subsidiary of Better Living Grand Sdn Bhd, which is a unit of Ipmuda, to Pixel Valley Sdn Bhd, a unit of Kerjaya Prospek Property Bhd, for RM82 million.

This will be covered by RM80 million in cash and RM2 million in property.

Ipmuda shareholders also approved a special cash dividend of 30 sen per share, or RM30.43 million as well as the issuance of two bonus shares and three warrants for every two existing Ipmuda shares.

The group also proposed renounceable rights issue of 101.46 million new ordinary shares in IPMUDA on the basis of one rights share for every one share held at 30 sen per rights share and the proposed acquisition of the entire 8.8 million shares in Ultimate Forte, for RM18 million,to satisfied with RM6.68 million in cash and new Ipmuda shares amounting to RM11.32 million.

In a statement released yesterday, Ipmuda Executive Chairman, Datuk Beroz Nikmal Mirdin (picture) said shareholders had given overwhelming support for its transformation strategy.

He stated the divestment of their existing properties is part of the goal to unlock the value of the property assets and channel the funds generated into our new growth assets.

“With the corporate exercises, we have expanded the capital base of Ipmuda hence strengthening the group’s financial position.

“The special dividend and bonus issue are means for us to say thank you to our long-standing shareholders for the trust and support they have placed in us. Exciting times are ahead for IPMUDA. We hope they will continue to stand by us as IPMUDA moves ahead to become a leading player in the renewable energy and healthcare sectors,” he said.