Kumpulan H & L High-Tech (KLSE:HIGHTEC) unit H&L High-Tech Deco agreed to merge its planted lots with Prosperous Plantation PLT, according to a Friday Malaysian bourse filing.
The lots total about 451.78 acres of land, including 403 acres planted with palm oil crops. The merger will create a combined estate.
Under the deal, H&L High-Tech Deco will allot 1.2 million new shares to Prosperous Plantation PLT, with a value of RM1.00 per share, it noted.
The proposed merger is not subject to the approval of the shareholders, or
relevant authorities.
Shares slid over 1% recently.
Price (MYR): $0.77, Change: $-0.010, Percent Change: -1.28%
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