KUALA LUMPUR: UMW Holdings Bhd is undecided on the extension status of the mandatory offer for the remaining MBM Resources Bhd shares it does not already own. The company said there is no certainty that the MBM Resources offer will lead to any conclusive or definitive understanding between the parties. UMW Holdings said an appropriate announcement will be made as and when there are material developments relating to the acquisition. “Shareholders are advised to exercise caution when dealing in MBM Resources shares and to seek independent advice if they wish to do so,” it said. Last week, MBM Resources’ major shareholders - Med-Bumikar Mara Sdn Bhd and its wholly-owned Central Shore Sdn Bhd, rejected UMW Holdings' offer to buy their stake for RM2.56 per share.

Source: New Strait Times April 03, 2018 06:33 UTC