KUALA LUMPUR: Spanco chairman and shareholder Tan Sri Robert Tan Hua Choon's son has acquired a 52.92 per cent share in home furnishing maker and exporter Eurospan Holdings Bhd (EHB) from major shareholder and executive chairman, Guan Kok Beng, for RM39.96 million triggering a mandatory general offer (MGO) for the company.
Guan is no longer a substantial shareholder in the company.
In filings with Bursa Malaysia, Eurospan Datuk Seri Tan Han Chuan increased his equity interest in the company from 14.22 per cent to 67.14 percent.
His sister, Datin Tan Ching Ching, who is acting in concert with him, holds 2.08 million shares, representing about 4.69 per cent of the company's total issued shares.
Collectively, both hold 31.9 million shares, representing approximately 71.83 per cent of the total issued shares.
Han Chuan is required to make a mandatory takeover offer to purchase all the remaining company shares at RM1.70 each.
Eurospan's share closed more than 11 per cent higher at RM1.70 share, giving it a market capitalisation of RM75.4 million.