Posted by singh1 > 2020-02-12 23:13 | Report Abuse

cch1025 We are more or less in the same boat. Yeah it is incredibly unfair to those that bought at much higher price.

Posted by singh1 > 2020-02-12 23:16 | Report Abuse

LELE He is your orang kampung, so you really know him much better than all of us. You read his mind really well. Good job Bro!!!

Posted by tcc133 > 2020-02-12 23:52 | Report Abuse

really kesian shareholder

Posted by Gn021 > 2020-02-12 23:53 | Report Abuse

To raise fund for the cash offer, TAE said it would issue up to 550.54 million new shares at 66.5 sen each to Tiah, who is TAE’s and TAG’s substantial shareholder and chairman.

Tiah currently holds 717.6 million TAE shares, or 41.92% of the stockbroker.

Assuming that Tiah's holdings in TAE crossed the 50% threshold after the issuance of the new shares, he would be required to make a mandatory general take over offer for remaining shares in TAE at the same price.




Actually this Tony Tiah just want increase the share he hold in TAE, and ultimately he just want to Privatise TAE only.......................

Posted by Gn021 > 2020-02-12 23:54 | Report Abuse

"Assuming that Tiah's holdings in TAE crossed the 50% threshold after the issuance of the new shares, he would be required to make a mandatory general take over offer for remaining shares in TAE at the same price."


Once Tony Tiah hold more than 50%, then he will take over TAE, like now what he do to TAGB

Posted by Gn021 > 2020-02-12 23:56 | Report Abuse

http://www.klsescreener.com/v2/news/view/635880/tae-offers-to-delist-ta-global-for-28-sen-a-share

In 2018, Tiah launched a mandatory general offer for TAE at 66 sen a share.

now 2019, give you more 0.5 sen

Posted by Gn021 > 2020-02-12 23:59 | Report Abuse

http://www.klsescreener.com/v2/news/view/635880/tae-offers-to-delist-ta-global-for-28-sen-a-share

Posted by Sslee > 2020-02-13 00:20 | Report Abuse

Dear all,
The Relate parties holding of TAGB as below:
1. TA Enterprise Berhad holding: 3,202,334,270 equal 60.1748%
2. Datuk Tiah Thee Kian holding: 538,841,938 equal 10.1253%
3. Tiah Joo Kim holding: 266,236,182 equal 5.0028%
4. And PAC
(i) proposed acquisition of additional interest in TA Global Berhad (“TAG”) via a proposed conditional voluntary take-over offer (“Proposed VGO”) by TAE to acquire up to 2,119,389,362 ordinary shares in TAG (“Offer Shares”), representing up to 39.83% equity interest in TAG, for a consideration of RM0.28 per Offer Share which shall be satisfied by way of the following:
(a) a cash consideration of RM0.28 for every 1 Offer Share surrendered ("Cash Option"); or
(b) a share exchange based on an exchange ratio of 0.4211 new ordinary share in TAE (“TAE Shares”) to be issued at an issue price of RM0.665 each for every 1 Offer Share surrendered; and

(ii) Proposed issuance of up to 550,539,554 new TAE Shares at an issue price of RM0.665 each to be subscribed by Datuk Tiah Thee Kian to fund the Cash Option pursuant to the Proposed VGO.

The proposal mean Datuk Tiah and PAC will exchange his TAGB share for TAE share.
And in addition TAE will issuance up to 550,539,554 new TAE share at RM 0.665 for sum RM 366,108,803 to TAE so that TAE will have enough cash to offer the balance TAGB shares not own by TAE, Datuk Tiah and PAC at RM 0.28 for those prefer a cash offer.

Most likely the TAGB independent directors will advice TAGB shareholders to accept share exchange with TAE rather than the cash offer of RM 0.28.

Thank you

Posted by Lele > 2020-02-13 08:33 | Report Abuse

達企業TAE為小股東提供兩個選擇。

第一，達企業用現金支付收購。

第二，達企業將以每股66.5仙，發行5億5053萬9554股新股，之後再以每0.4211達企業股票，換取1股達全球的股票，相等於出價同為每股28仙.

你們要注意在這次TAE發行5億5053萬9554股新股是Tony用RM0.665全購買。

經過這次的行動就解決了達全球TAGB公眾持股就低於25%. 現在公眾在TAGB持股是24.538% ( 只是多了0.462% )

所以TAGB的小股東[ 不要怕 ]，這次就給TAE和Tony自己玩。 TAGB的公眾持股就解決了。

自己去算算吧! 哈哈！ 那麼簡單的遊戲都不知道。 [ 就是選擇合併。 ]

Posted by hopetobecorrect > 2020-02-13 08:40 | Report Abuse

lele, why kluang got such people one?
front, back, left or right,, big eat small

Posted by Lele > 2020-02-13 09:21 | Report Abuse

請注意 ：“ In accordance with Paragraph 3.06 of the Rules on Take-overs, Mergers and Compulsory Acquisitions, the Board has appointed BDO Capital Consultants Sdn Bhd to act as the Independent Adviser to advise the non-interested holders of the Offer Shares, and provide its comments, opinions, information and recommendation in relation to the Offer. ”

所以TAGB 小股東不要出售給 TAE RM0.28, 要等第三方的建議。

還沒有到最後方案。其實和2018年 Tony 收購 TAE 的故事一樣。

Posted by luckypunting > 2020-02-13 09:30 | Report Abuse

simply put .. if majority dun take the offer ... no deal ... wait for the Independent Advisor la ... Tony need to up the price la

Posted by Sslee > 2020-02-13 09:31 | Report Abuse

The collective shareholdings of Datuk TTK and the persons acting in concert with him in TAE are currently above 33% but below 50% (i.e., 42.37% as at the LPD). Upon the issuance of the Consideration Shares and Subscription Shares, Datuk TTK’s shareholding in TAE may increase by more than 2% and therefore trigger the creeping threshold. Datuk TTK will be obligated to extend a mandatory take-over offer (“Potential MGO”) pursuant to Paragraph 4.01(b) of the Rules on Take-overs, Mergers and Compulsory Acquisitions (“Rules”) to acquire all the remaining TAE Shares not already owned by him and the persons acting in concert with him. For information purposes only, the offer price will be a cash consideration of at least RM0.665, being the highest price paid by Datuk TTK to acquire TAE Shares within the 6-month period prior to this announcement. If TAE declares, makes or pays any Distribution on or after the date of the Notice but before the closing date of the Potential MGO and holders of TAE Shares are entitled to retain such Distribution, Datuk TTK will reduce the offer price by an amount equivalent to the net Distribution per offer share that is entitled to be retained by the holders of TAE Shares. The notice of mandatory take-over offer will be served immediately upon Datuk TTK’s acceptance of the Proposed VGO.

Posted by Syndicates > 2020-02-13 16:52 | Report Abuse

so many soh chai pressuring down, especially from mercury. let's see who win at the end

Posted by Syndicates > 2020-02-13 16:52 | Report Abuse

read carefully please

Posted by Sslee > 2020-02-13 19:42 | Report Abuse

Dear TheContrarian,
You are right. I bought in the morning about 60 cents. Hopefully can collect more tomorrow.

Posted by Fabien "The Efficient Capital Allocater" > 2020-02-13 22:31 | Report Abuse

Arbitrage play?


Posted by TheContrarian > Feb 13, 2020 4:46 PM | Report Abuse

MGO definitely trigger. Bought today at 59 sen.

Posted by TheContrarian > 2020-02-13 23:04 | Report Abuse

No arbitrage for me, I don't own TA Global. First time entering TA Enterprise this century.

Posted by TheContrarian > 2020-02-13 23:09 | Report Abuse

The take-over is conditional on TA Enterprise's shareholders approving the take-over of TA Global at an EGM to be convened. Simple majority sufficient.

Posted by singh1 > 2020-02-14 00:24 | Report Abuse

If there was no coronavirus threat, I would have bought TA kao kao. But now have to be cautious. Mainly because TAGB hotels are in hot spots for China tourists. 2 in THailand, 1 in singapore, 1 in Kunshan, China, 1 in Vancouver, Canada and 2 in Sydney and Melbourne, Australia. These hotels are the main revenue stream for TAGB and TA. Properties business is slow and difficult to see into the future.
If situation changes for the better, Yeah I would buy TA. Have to wait and see.

Posted by Lele > 2020-02-14 06:37 | Report Abuse

# Singh1,

Wow! U still want to buy, " Bo Kiasee ".

Posted by Sslee > 2020-02-14 08:42 | Report Abuse

Haha,
Buy at 59 cents and sell back to Datuk Tiah at 66.5 cents in 3 months time.

Posted by Lele > 2020-02-14 09:01 | Report Abuse

Pls. read carefully !!!
New Ordinary Share in TAE @ RM0.665 ( Not old or current share )

Posted by luckypunting > 2020-02-14 09:19 | Report Abuse

only if trigger MGO of TAE ... just 2% less ... I think very likely ....

Posted by singh1 > 2020-02-14 10:08 | Report Abuse

Lele Ha! Ha! bo kiasee !!!, bo kiasu !!!

Sslee Are you sure can sell back to Datuk in 3 months time ?

What percent of minority shareholders approval TA needs to swallow TAGB?

Assuming they do so, how long before Tony issues MGO to shareholders to privatize TA?

What if it is another failed attempt and meanwhile he keep accumulating 2% every 6 months for an additional 4% over a one year period.

Another question I have : Is he compelled to issue MGO if through new subscription of shares in TA @ $0.665 increases his shareholding to above 50% ? Is he not allowed to continue to accumulate in open market without MGO and go all the way to 75% ?

Hope you or anyone else can provide some information, thank you.

Posted by Sslee > 2020-02-14 10:43 | Report Abuse

Dear all,
The collective shareholdings of Datuk TTK and the persons acting in concert with him in TAE are currently above 33% but below 50% (i.e., 42.37% as at the LPD). Upon the issuance of the Consideration Shares and Subscription Shares, Datuk TTK’s shareholding in TAE may increase by more than 2% and therefore trigger the creeping threshold. Datuk TTK will be obligated to extend a mandatory take-over offer (“Potential MGO”) pursuant to Paragraph 4.01(b) of the Rules on Take-overs, Mergers and Compulsory Acquisitions (“Rules”) to acquire all the remaining TAE Shares not already owned by him and the persons acting in concert with him. For information purposes only, the offer price will be a cash consideration of at least RM0.665, being the highest price paid by Datuk TTK to acquire TAE Shares within the 6-month period prior to this announcement. If TAE declares, makes or pays any Distribution on or after the date of the Notice but before the closing date of the Potential MGO and holders of TAE Shares are entitled to retain such Distribution, Datuk TTK will reduce the offer price by an amount equivalent to the net Distribution per offer share that is entitled to be retained by the holders of TAE Shares. “The notice of mandatory take-over offer will be served immediately upon Datuk TTK’s acceptance of the Proposed VGO “.

Note: Datuk TTK and PACs in TAG collectively hold 816,267,920 TAG Shares, representing 15.34% of the TAG Shares in issue. Hence the acceptance of conversion of this block of TAG to TAE (more than 2% TAE enlarge share in issue) will trigger TAE conditional MGO and the notice of mandatory take-over offer will be served immediately upon Datuk TTK’s acceptance of the Proposed VGO which is 21st day after the VGO posted date to TAG shareholders.

Thank you

Posted by Seek > 2020-02-14 10:54 | Report Abuse

Thanks SSLee.

Posted by singh1 > 2020-02-14 11:01 | Report Abuse

Thank you Sslee By the way when he converts 816,267,920 TAG shares, he will obtain another 300+ million TA shares !!!! What will be his new percentage stake in TA after adding the new shares he plans to issue to himself @$0.665 ?????

Wa lao eh his shareholding in TA will rocket up !!!!

Anyone knows to what level ? Especially if most of TAG shareholders take the cash option, which means fewer shares issued to minority shareholders !!!!

What is happening here lo ?????

Posted by hopetobecorrect > 2020-02-14 14:10 | Report Abuse

singh1, tony telan bulat bulat

Posted by villa1668 > 2020-02-14 16:04 | Report Abuse

The final winner is still Tiah...

Posted by villa1668 > 2020-02-14 16:04 | Report Abuse

All the loyalty shareholders end up with loss money.

Posted by villa1668 > 2020-02-14 16:05 | Report Abuse

Learn from the mistakes. Buy a company having a good management in future

Posted by enid888 > 2020-02-14 16:11 | Report Abuse

The actual value of TAEnt is RM3.01 per share as the TAGB's assets are not revalued. Tony Tiah is getting 550,539,554 new TAEnt shares at RM0.665 per share. He is paying just a mere 22.1% of the the actual value.

Just from the new shares issuance alone, he is quietly gaining RM2.345 per share or RM1.291bil from this deal.

Posted by hopetobecorrect > 2020-02-14 16:20 | Report Abuse

villa1668, agreed with you. mgmt integrity is utmost important. a crook will always behave like one no matter what

Posted by hopetobecorrect > 2020-02-14 16:21 | Report Abuse

and they sleep well at night smiling

Posted by villa1668 > 2020-02-14 16:23 | Report Abuse

Yes Hopetobecorrect. I have been so loyalty to TA group but end up with what? U know I know.

Posted by villa1668 > 2020-02-14 16:25 | Report Abuse

Tiah holding too much of TA is not good for majority shareholders in the future. Tagb is one of the good examples.

Posted by Sslee > 2020-02-14 17:41 | Report Abuse

Dear all,
Datuk Tiah will only be allocated those opt for cash option of Rm 0.28 VGO from offeror TAE (The cash is fund by Datuk Tiah subscribe to new TAE shares at RM0.665) If no one opt for cash optoon then no new issue of TAE shares to Datuk Tiah except shares exchange of TAG to TAE where Datuk Tiah and PAC already commite to exchange their current holding in TAG shares to TAE share at ratio 1: 0.4211

Posted by luckypunting > 2020-02-14 18:02 | Report Abuse

both options also involve new shares issued ... 1) Consideration Shares, 2) Subscription Shares ..... only cash option will guve Datuk more TAE shares

Posted by Sslee > 2020-02-14 18:04 | Report Abuse

Dear all,
The only way to unlock the value of TAE is for TAE to own TAG fully and then spin off the hotel assets as Hotel Reit.

Thank you

Posted by luckypunting > 2020-02-14 18:04 | Report Abuse

either way still need TAE EGM approval from non interested shareholders .... let see if anyone happy with Dilution

Posted by luckypunting > 2020-02-14 18:08 | Report Abuse

worst case if got some fellow happy happy approve it in EGM and pass it ... then may be Share Swap is better

Posted by Sslee > 2020-02-14 18:18 | Report Abuse

Haha
The TAE EGM is by simple majority of all the TAE shareholders attending the EGM. Not by non interest share holders because TAE shareholders are all interest shareholders.
Beside paying 28 cents for NTA of 59 cents is not share dilution but share value enhancement.

Posted by KaporKing > 2020-02-14 20:15 | Report Abuse

Can someone explain why only tony can subscribe for tae shares at 66.5 cents and not a rights issue where all existing shareholders of tae can subscribe at such a heavily discounted price of 66.5 cents .. why why

Posted by Sslee > 2020-02-14 20:34 | Report Abuse

Haha,
Because everyone can buy TAE at open market at 59.5 cents now and sell to Datuk Tiah at 66.
5 cents later.

Posted by pogbaggmu > 2020-02-14 21:04 | Report Abuse

Sslee,

You're taking a risk by buying TA now because MGO for TA may turn out to be conditional. Will only be less risky if offer is unconditional. If everyone takes share swap option, Tony tiah will hold less than 50% and no one will sell TA to him at 66.5sen because it's too cheap.

Posted by pogbaggmu > 2020-02-14 21:11 | Report Abuse

Luckypunting,

What u mean dilution? U need to take into account the value of TAG which is at least RM2billion more than what u see in the NTA now. Look at the independent valuations of some of the TAG properties in the takeover document.

Basically Tony Tiah is pumping in his own money and yes, he benefits big time but the other shareholders also benefit a lot. So in the end our % stake in TAE become smaller but the value of that stake actually becomes higher than before.

If need TAG shareholders vote, then sure fail because 28sen is cheating so bad. But all TAE shareholders will benefit big time by taking TAG private at such ridiculously low price.

Posted by Lele > 2020-02-15 07:12 | Report Abuse

之前我都說了投資公司大老闆的心態很重要。你們沒有感覺到嗎？現在 TAE & TAGB這兩家公司為什麼沒有投資基金進入去投資？？？只有 Tony 一個人在玩把戲。“ 40歲前的相貌是父母的因素，40歲過後的相貌就要自己負責了。[ 相由心生 ]。

沒有投資基金買入公司的股價是不可能上漲. 2018年 TAE 的 Valuation Report 說有RM2.50+。為什麼還是沒有投資基金要買入？？？為什麼TAE 的股價還是一直下降？？？問題出現在那裡，你們自己想想吧!？？？？？？

Posted by Sslee > 2020-02-15 08:38 | Report Abuse

Haha,
There are many property companies selling below NTA.
Example: KSL the three brothers happily collect their director salary and buying from open market KSL share and refuse to pay dividend against KSL formal dividend policy.

You can also learn from TSVT just sell down bjland to compile with 85% shareholders spread and now bjland is at 18 cents.

If Datuk Tiah did not offer VGO, I think TAG will also drop to 18 cents.

Posted by hopetobecorrect > 2020-02-15 09:53 | Report Abuse

Sslee
of course if you compare tony with crooks , he will look like angel but his action is exactly like crook 1. why can't TAE just privatized tagb via share swap without the VCO to him?
2. cannot be TAE don't have or not able to raise the 300++ million?

the whole exercise is designed to take advantage of minorities shareholders with a big should "SO WHAT......................."
nothing is done to unlock value for all shareholders to enjoy the fruits of trusting him
mind you, he and his family members are paid using shareholders money to deliver value and not to con them.


Sadly, i believe the law allows this. Unless the authority do something, more people will exit from investing in Bursa