COUNSEL & SOLICITOR:
For the plaintiff- Lim Kian Leong & Cheah Kit Yee & Lui Kar Yee; M/s Lim Kian Leong & Co
High Court
Companies and Corporations – Shares – Acquisition of shares – Danaharta offered 45{ea522eb49183a839418867043b740453be090fcd3d73faedf82b9b22b788b398} shares in ailing company for sale by tender – Defendants successfully purchased 32{ea522eb49183a839418867043b740453be090fcd3d73faedf82b9b22b788b398} of shares and proposed schemes to revitalise company – Whether defendants and Danaharta ‘acted in concert’ to take over control of company – Whether defendants legally obliged to make mandatory take – over offer to all shareholders of company – Whether Securities Commission Act 1993 and Take – over Code allowed minority shareholders private law remedy for statutory breach