We wish to announce that Bursa Malaysia Securities Berhad has on 9 January 2015 approved the Company’s request for a suspension of trading of its shares from 9.00 a.m. to 5.00 p.m. on 12 January 2015 pending the release of a material announcement.
The request for suspension is made under subparagraph 3.1(b) of Practice Note No. 2 on Requests for Suspension of the Main Market Listing Requirement of Bursa Malaysia Securities Berhad. This announcement is dated 9 January 2015.
@rohank71 don't la like that. we don't need to identify whose wrong whose right every time. However, I believe we all can learn something from this situation, that we don't need to trust some kononnya "insider" info. Spread fear dy then delete comment.
sorry, my english below half barrel. And i couldn't find same content from english news. Any volunteer, please help. tqvm.
i try my best: the only new thing in this article is it said if SMRT really buy remaining from Siva, which is 32.9%, together with Creador, they will posses megb 52.16%, so they'll have to force buy remaining megb shares. So, previously they have agreed, smrt possession in megb cannot more than 23%, and megb will remain listed.
other things in the news is same as in bursa announcement.
no need worry brother. i do believed the deal must be on, for sure, else no need held such "press conference" and share suspension. the only issue here is we don't how good/bad is the deal.
Type Announcement Subject MULTIPLE PROPOSALS Description SMRT HOLDINGS BERHAD (“SMRT” OR “COMPANY”)
(I) PROPOSED ACQUISITION BY STRATEGIC AMBIENCE SDN BHD (“SASB”), A WHOLLY-OWNED SUBSIDIARY OF SMRT, OF APPROXIMATELY 23% OF THE VOTING SHARES OF MASTERSKILL EDUCATION GROUP BERHAD (“MEGB”) (“PROPOSED ACQUISITION”); AND
(II) PROPOSED PLACEMENT OF UP TO 10% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF SMRT (“SHARES” OR “SMRT SHARES”) (“PROPOSED PLACEMENT”)
(COLLECTIVELY REFERRED TO AS “PROPOSALS”)
We refer to the Company's announcement dated 10 November 2014, 10 December 2014 and 24 December 2014. On behalf of the Board of Directors of SMRT ("Board"), Maybank Investment Bank Berhad ("Maybank IB") wishes to announce that SMRT and SASB have entered into the following agreements today:
(i) conditional share sale agreement ("SSA") between SASB, Arenga Pinnata Sdn Bhd ("Arenga"), a 95.17%-owned subsidiary of Creador II, LLC ("Creador") and Siva Kumar A/L Jeyapalan ("Mr. Siva" or "Vendor") in relation to the proposed acquisition of Mr. Siva's entire shareholding in MEGB consisting of 115,656,700 ordinary shares of RM0.20 each in MEGB ("MEGB Shares"), representing 30.75% of the issued and paid-up share capital of MEGB (excluding treasury shares) ("Voting Shares of MEGB") as at 6 January 2015, being the latest practicable date prior to this Announcement, of which 86,500,212 MEGB Shares ("Available Shares"), representing approximately 23% of the Voting Shares of MEGB, shall be acquired by SASB and the remaining 29,156,488 MEGB Shares, representing 7.75% of the Voting Shares of MEGB, shall be acquired by Arenga; and
(ii) collaboration agreement between SASB and Arenga, setting out the terms of their relationship as shareholders in MEGB and the collaboration arrangement with regard to the proposed conditional takeover offer to be launched by Arenga.
In addition, SASB also intends to enter into a management agreement with MEGB in due course wherein SASB will provide advisory and management support services to MEGB and its subsidiaries ("MEGB Group") in respect of the operation and management of the MEGB Group and its business ("Management Agreement"). Further details of the Management Agreement will be announced once the Management Agreement is entered into.
Arenga had on the same day launched a conditional takeover offer to acquire all the remaining Voting Shares of MEGB not already held by Arenga and the persons acting in concert with it in relation to the takeover offer (“PAC”) (“Offer”). The PACs are SASB, SMRT, Creador II, LP and Creador, which is also the ultimate offeror is Creador.
On behalf of the Board, Maybank IB also wishes to announce that the Company proposes to undertake the proposed placement of up to 10% of the issued and paid-up share capital of SMRT.
Please refer to the attachment for full details of the Proposals.
Full of stupid comments here, mgo at 60cents of course have to happen, because they collectively acquire more than 33pc, meaning 60c is the base price and their intention is not to privatise megb, ecoworld aka focal aim mgo at 1.40, and now 4 bucks, thats how mgo work, last chance for you to buy more tomorrow, rm1 is no longer a dream
KUALA LUMPUR (Jan 12): SMRT Holdings Bhd ( Financial Dashboard) and Creador II LLC have proposed to jointly acquire a 30.75% stake in Masterskill Education Group Bhd ( Financial Dashboard) and subsequently launch a take-over for the remaining stake in the firm.
Creador founder and CEO Brahmal Vasudevan said education entity SMRT and private equity firm Creador had proposed to buy the 30.75% stake in Masterskill from major shareholder Siva Kumar M Jeyapalan at 60 sen a share.
SMRT and Creador have entered into a share sale agreement with Siva Kumar for the transaction. The agreement was entered into via SMRT's subsidiary Strategic Ambience Sdn Bhd and Creador's unit Arenga Pinnata Sdn Bhd.
Creador has also made a conditional take-over offer for the remaining Masterkill shares not held by the company at 60 sen a share. Creador intends to maintain the listing status of Masterkill.
"We plan to rename the company (Masterskill) as Asiamet Education Group Bhd.
"Our goal is to to focus on building a new chapter and bring new life into the company with the objective of rebuilding Asia Metropolitan University into a leading educational institution in Malaysia," Brahmal said.
Under the share sale agreement with Siva Kumar, Creador will acquire a 7.75% stake in Masterskill from him.
The remaining 23% will be taken up by SMRT.
Last Thursday (Jan 8), Creador emerged as a major shareholder in Masterskill after acquiring 19.26% in Masterskill.
On Friday, Masterskill said its share trade would be suspended from 4.50pm that day (Jan 9) till 5pm today (Jan 12) pending a a material announcement.
Prior to the suspension, Masterskill shares were last traded at 71 sen for a market capitalisation of RM376.1 million.
sorry to ask but what will happens tomorow as it is written it let shareholder to take the offer or be a part of the future growth of the company..what this means?
This is the part I am confused i.e. The 2nd paragraph below :-
Creador founder and CEO Brahmal Vasudevan said education entity SMRT and private equity firm Creador had proposed to buy the 30.75% stake in Masterskill from major shareholder Siva Kumar M Jeyapalan at 60 sen a share. Creador has also made a conditional take-over offer for the remaining Masterkill shares not held by the company at 60 sen a share. Creador intends to maintain the listing status of Masterkill.
--> Is Creador making a conditional takeover of all remaining shares at 60c...?
Mana ada 97 sen new offer?? This Star news also not accurate. SMRT/Creador are buying the 30.75% from SK. That will result in both owning > 33% hence triggering MGO. RM112M is for the remainder of shares at 60 sen.
Post a Comment
People who like this
New Topic
You should check in on some of those fields below.
Title
Category
Comment
Confirmation
Click Confirm to delete this Forum Thread and all the associated comments.
Introducing MY's First IPO Fund for Sophisticated Investors!
MQ Chat
New Update. Discover investment communities that resonate with your ideas
MQ Trader
M & A Value Partners IPO Equity Fund has been launched - Targeted 13% Return p.a
Latest Videos
0:17
New IPO: Building management systems (BMS), solar thermal systems and energy-saving services provider, Solar District Cooling Bhd aims to list on the Ace Market!
MQ Trader 352 views | 2 d ago
0:17
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 11670 views | 10 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
surewinmoney
118 posts
Posted by surewinmoney > 2015-01-09 18:13 | Report Abuse
megb no suspend news, smrt withdraw from transfer to main board. maybe withdraw the deal also? how can megb suspend without annoucement. lol