Posted by TheContrarian > 2019-05-29 18:51 | Report Abuse

Poll results by value : 42 million shares (70%) voted YES and 18 million shares (30%) voted NO.

Posted by afterlight > 2019-05-29 19:01 | Report Abuse

@csan yeah. Of course yacoob has lots of company using proxy. He is a season corporate fella

Posted by moneycashrich > 2019-05-29 20:10 | Report Abuse

Those who have sold at high and smart should not make poke fun and jokes on those long time investors. As I said those who are afraid should sell first ok. Company still making profit. TY is a smart guy and that why he do SCR for a profit making company.

Posted by taitaumau > 2019-05-29 21:11 | Report Abuse

Analysis of voting

In value: For 42 M Against : 18M ( 70%: 30%) -" For" Fail > 75% - SCR Voted down
In number : For 66 Against : 108 - "For" fail > 50% - SCR voted down

Total "Against" /non-interested shares (in value) = 10.8% > 10% - SRC voted down

INTERESTING POINT to ponder: How the vote in number is computed?
For those who attended the EGM today:
can you figure out:
- why only 108 in number recorded for "voted" against

Posted by birkincollector > 2019-05-29 21:14 | Report Abuse

got money didn't wanna take all so greedy....now really 一场空

Posted by Lesley69 > 2019-05-29 21:19 | Report Abuse

Should have taken the money.. this is what happens. Waiting too see tomorrow’s price

Posted by Cipta > 2019-05-29 21:49 | Report Abuse

Those who can sell the share above RM1.00 but speculate TY will will announce for an extra dividend or increase SCR price in the resistant are now blaming those who fight hard for their right and belief greedy? What;s a hypocritical!

Posted by csan > 2019-05-29 22:36 | Report Abuse

Of course I took the money and sold but there are many who will get caught later. Later and not now because the cash is still there now but may be squandered later.

Posted by csan > 2019-05-29 22:39 | Report Abuse

Cipta, absolutely within your right to fight for your rights and it was right to reject but you all did not do enough. Just rejecting is not enough. In developed countries, there would be shareholder's motions tabled etc.

Posted by TheContrarian > 2019-05-29 22:42 | Report Abuse

It was very foolish to vote against the SCR knowing that there's a 12 months waiting period before the Offerors could make another offer. What should have been done was to request for an adjournment to the EGM for the Offerors to consider improving the offer price.

Posted by Cipta > 2019-05-29 23:09 | Report Abuse

How you know there would not be shareholder's motions tabled within 12 months?

Posted by TheContrarian > 2019-05-29 23:15 | Report Abuse

Anyone else except Melewar can propose a fresh SCR. Who is going to do so? Cipta going to do it? How much you are offering to take MAA private?

Posted by csan > 2019-05-29 23:58 | Report Abuse

Cipta, don't be silly. It would have been filed earlier to be proposed today if got. But balvin was too busy giving ceramah and didn't work with laxey to propose.

Posted by csan > 2019-05-29 23:59 | Report Abuse

TheContrarian, it's actually over. If others propose fresh SCR, TY can vote. And he can single handedly block.

Posted by dumbMoney > 2019-05-30 00:14 | Report Abuse

The voting today indicated that there is more than 10% of shareholders opposed to the SCR. The same 10% can requisite for an EGM to consider, for example, a change of directors, a special dividend, a liquidation of the company etc. It is then up to shareholders to decide on their fate and for the company to argue for or against. Minorities is a misnomer in this case, officially, management is the minority, outside shareholders are the majority.

Posted by TheContrarian > 2019-05-30 00:22 | Report Abuse

Yes csan, Melewar can single handedly block any SCR, that's why we never hear of minority shareholders proposing SCR in any listed company. Even a hostile takeover attempt is difficult.

Posted by TheContrarian > 2019-05-30 00:23 | Report Abuse

Liquidation of a company needs 75% shareholders approval.

Posted by dumbMoney > 2019-05-30 00:46 | Report Abuse

Yes, liquidation needs 75%, but control of the board needs only 50%+1 share.

Posted by TheContrarian > 2019-05-30 00:58 | Report Abuse

Melewar already owns almost 40%, they just need another 10% support from other shareholders. At the AGM both directors due for reappointment were comfortably voted back.

Posted by Choivo Capital > 2019-05-30 08:29 | Report Abuse

The minority shareholders who did not want the SCR is 6% of the company. Good luck.

====
NavinShah Then let us the minority shareholder gather this and finally RIP the MAA GROUP BHD.
30/05/2019 8:27 AM

Posted by stupid > 2019-05-30 08:39 | Report Abuse

Yaacob said the offer was meant to realign the share price.

“Because of the SCR, the share price moved from 50 sen to RM1. Shareholders feel that the fair price of the company is RM1.90 and we should be trading at RM1.90, if MAAG is valued properly. The problem is that up to now, no one has valued it properly. Everyone is only prepared to pay 50 sen.

“But if shareholders feel that the share price is worth RM1.90, then that’s how much they should pay. Why are you saying “give me more? Instead of RM1.10, you want RM1.30. Don’t ask what we should give you. Ask what you will pay for your company. If you say the company is worth RM1.90, then pay RM1.90,” he said.

MAAG’s share price plunged 20% or 20 sen to 79.5 sen yesterday following news that the proposed SCR had fallen through.

Yaacob said regulations forbid another takeover offer for at least 12 months.

“I’m not making another offer. Technically I can’t for another 12 months under the takeover code. But I don’t intend to make another offer again,” he said.

Posted by stupid > 2019-05-30 08:39 | Report Abuse

Haha im laughing those sorchai now

Posted by sheep > 2019-05-30 08:51 | Report Abuse

Most of them sold their shares d. Now waiting to buy back again for special dividend after june . wakakakaka

Posted by csan > 2019-05-30 09:23 | Report Abuse

NavinShah, u look at the voting for director re-election...you think u all can do something? U all nothing more than sitting ducks. Feel good yesterday but u all will regret later.

Posted by sheep > 2019-05-30 09:25 | Report Abuse

hostile take over coming....
Another Era ....HK drama series ...
wakakakaka

Posted by StockProf > 2019-05-30 09:55 | Report Abuse

MAA will receive a new offer at price RM1.50 per share. The announcement will out these few days.

Posted by moneycashrich > 2019-05-30 09:58 | Report Abuse

Still dreaming of 50 sen for a profit making company. Can ask TY to sell cheap ?

Posted by Cipta > 2019-05-30 10:05 | Report Abuse

I see those losers miss the opportunity to profit taking above RM1. 10, did nothing or propose any motion, keyboarding instead of attend the EGM, afraid to cut lost when SCR fail BUT grumbling, grumbling, grumbling , complaining here n there, blame opposition.

A successful person take action not NATO.
Therefore i salute those willing to take effort when feel injustice. Dare to dream bore to do. That's different between a success person n a loser.

Posted by StockProf > 2019-05-30 10:13 | Report Abuse

I think the current price worth to buy and wait for a new offer at a higher price. Yesterday MAA announced a quarter result which making a profit. Dun silly to sell the share now.

Posted by moneycashrich > 2019-05-30 10:28 | Report Abuse

If MAA is in such bad shape, TY should have run first. MAA business can only get better. Some past blogger even suggest all the MAA cash will be gone soon. Use our brain....this is not some hanky panky stock.

Posted by Kris Wong > 2019-05-30 10:29 | Report Abuse

A special dividend soon ?

Posted by linda77 > 2019-05-30 11:26 | Report Abuse

stockprof,
Dont speculate new offer, no such thing at present, and it will never happen now

Posted by linda77 > 2019-05-30 11:29 | Report Abuse

No one know got any spe dividend.

Posted by Cipta > 2019-05-30 12:18 | Report Abuse

A special dividend of 12 cents Is approved last June n is scheduled to distribute within 1 year from now average 3 cents per quarter. I think it is a good DIY if someone willing to sell MAA at 50 cents.

Posted by StockProf > 2019-05-30 16:10 | Report Abuse

MAA share price will rebound to above RM1.00. New offer is coming.

Posted by linda77 > 2019-05-30 17:53 | Report Abuse

Egm fail, there is no new offer from now.

Posted by balvin71 > 2019-05-30 18:13 | Report Abuse

EGM finish. SCR gone. What is the point of sulking like cry babies....like a small kid crying to their mummy complaining so and so voted against the SCR....if you cannot take it, put money in FD, don't play the stock market. Like you didn't know the SCR was going to fail. We already said we have the numbers and you guys still around and now crying. No body feel sorry for you. Understand?

For me this is a good company, I am still invested. I am glad the SCR didn't go thru so I can participate in the long term returns. Long term prospect is good. Go study Altech Chemicals, look at their business in Phillipines. They are in PN17, because no core biz and BOD explained very well the challenges they face at Bursa.

If you disagree, sell your shares and cut your losses. Simple.....stop being cry babies!

Posted by Kana Singgam > 2019-05-30 18:25 | Report Abuse

Buy and hold. It will rebound with time, it has cash and is ok

Posted by moneycashrich > 2019-05-30 18:45 | Report Abuse

SCR gone as informed will failed. But MAA business will only get better.....TY is angry because cannot get rid of the small little people and have to share the profits in the future.

Posted by huntertee > 2019-05-30 20:10 | Report Abuse

Those who have sold all their shares why still bother to participate in this forum? Unless you still think it is a company can only give better returns

Posted by Kana Singgam > 2019-05-30 20:12 | Report Abuse

It takes a year to make 2 to 4 % in bank FD, but on the stock market, people want to make 10% or more over night. Time my friends will give the returns if you pick the right stock and watch. We are not funds and therefore can not move the company. I hope MAA can give this returns.

Posted by Cipta > 2019-05-30 20:23 | Report Abuse

TY angry is because he was misinformed by the advisor. There was consultant who proposed SCR and gave him the pass success story which misled him in believing SCR is easier to do. He is angry because even though forum was hangat in defeat the SCR, even TheEdge journalist knew it before the EGM he will face stiff resistant, he was assured by the consultant that the motion can simply passed without raising the price.

Now, he is angry because he is the Only One failure in as many privatisation practice in this year. This will be talking topic in the investment industry, joke among bankers, teaching material in business study etc.

He is angry because he was ill-advised.

I am angry too because we paid handsome fees to investment bank but got lousy advice.
I am angry because these lousy consultant doesn't Introspection but blame others.

Posted by csan > 2019-05-31 03:32 | Report Abuse

Balvin71, u should have considered linda77's proposal....not to be chairman obviously but to work with Laxey and some others to at least put 1 or 2 board members in, controlling would be ideal but may not be possible.

I believe the "cry babies" u mentioned are not upset that scr failed and share price tanked but are upset because of your inaction besides rejecting.

Posted by csan > 2019-05-31 03:33 | Report Abuse

And your ceramah during the EGM of course....

Posted by dumbMoney > 2019-05-31 05:44 | Report Abuse

TY may not be allowed to put in another attempt within one year, but there is nothing to stop some other shareholders to gang up and send in a similar proposal for a SCR to the board, at a higher price, and the board is obligated to do the same thing and put it for consideration by the members. Even though TY can veto the proposal with his holdings, it will show how easy it is to try to rob the outside shareholders using the company's resources and assets, with the connivance of the compliant board. If the board were to have asked for better offers, any shareholder could have done the same thing with a higher offer, after all, the cash is all there inside the company, it is only a matter of how greedy the offeror is.
Talking about a fair price, it is the price at which the buyer is also prepared to sell his shares, being both a willing buyer and a willing seller. If the offeror is also prepared to sell his shares at the same price to any counter bidder, this will set the precedent for what is a fair and reasonable offer and put an end to all these unfair but reasonable nonsense.

Posted by moneycashrich > 2019-05-31 05:48 | Report Abuse

The liitle people do not have the votes to change the board members, The BOD and TY were so confident of winning.TY do not compromise before the voting day. Two choices- accept the offer and vote for. Or reject the offer. Or be fence sitting and watch. To change history.... should peruade all to vote FOR. Or sell all. No other way. I am still in MAA, already since 2014.

Posted by NavinShah > 2019-05-31 07:29 | Report Abuse

TY, maybe pretending to be angry. Pointing finger game. It always happens. When one loses.
Its nothing new.

Posted by balvin71 > 2019-05-31 08:08 | Report Abuse

csan, since you heard my ceramah, I guess you were there at the EGM. Were you not paying attention? Let me recap.

Board asked for higher price from TY and TY refused to go beyond RM1.10.

To include people in the board, we don't have the numbers. Simple. You need 50% + 1 vote. We don't. You understand or not? Simple maths. Even if we have 49%, which we don't, we cannot. You understand simple maths or not?

As for my "ceramah", all I said was our company has 1.31 in cash, repeat 1.31 CASH + business, they offer is 1.10. I said not fair and not reasonable.
Nobody will give 1.31 to get 1.10...you? I would love to do this kind of deal personally with you.
And you think my "ceramah" can persuade the whole hall. Wake up la. Why didn't you speak to support the SCR, if you think so good? No confidence to talk openly? Hiding behind your key board. Go and cry to your mummy.

Posted by balvin71 > 2019-05-31 08:20 | Report Abuse

And mr cry baby, please let me add, already stated in the forum the share price will go down once SCR is rejected. Someone even said go down to 0.60. Again not paying attention izzit?

Posted by sheep > 2019-05-31 09:16 | Report Abuse

yea, TY consultants now venting their angers here...cos kena hentam kuat kuat by boss.. Mission to create fear and negative moods here failed....wakakaka