Shareholders of UEM Edgenta Bhd have approved the proposed selective capital reduction and repayment (SCR) exercise, clearing the way for UEM Group to take the company private and increase its ownership to 100%.
In a statement, UEM Group said the SCR will become effective upon the lodgement of the sealed order from the High Court of Malaya with the Companies Commission of Malaysia. Following this, UEM Edgenta is expected to be delisted from the Main Market of Bursa Malaysia in early July 2026.
Under the exercise, UEM Group, which currently holds 69.14% of UEM Edgenta, will acquire the remaining 30.86% stake, equivalent to about 257 million shares, at RM1.10 per share. The transaction will involve a total cash repayment of approximately RM282 million.
UEM Group said that once it becomes the sole shareholder, it plans to work closely with UEM Edgenta to refine strategic direction, pursue key initiatives and manage the group’s diversified businesses more effectively. The privatisation is also expected to provide greater flexibility for long-term planning and operational decision-making.
At the extraordinary general meeting, disinterested shareholders holding 97.09% of the total value of disinterested shares voted in favour of the resolution. Votes against the proposal stood at 1.33%, below the 10% threshold required to block the exercise, allowing the resolution to pass.
UEM Group, a wholly owned subsidiary of Khazanah Nasional Bhd, had first informed the board of UEM Edgenta in November last year of its intention to privatise the company via the SCR mechanism.
