It doesn't prevent MGO la....after buying 30.75% from SK, both parties owns > 33% of MEGB because they're already holding some shares in MEGB. Collectively, they will own 50.01% shares in MEGB after buying up SK's portion.
muscle, pls dont create panic but contribute to that everyone understand what is the real situation, then decide to sell or not.... these news seems making everyone confused
sifu2 here, i need your help: MGO: In a takeover, an offer to buy all of the remaining shares in a company, that must be made when a company owns more than 33% of the voting shares in another company SMRT own 23%, Creador own 27%, both didn't > 33%, please advice how MGO triggered. Is it because Creador also SMRT major shareholder? If MGO, do we need to sale our megb share to Creador (as in the news Creador will conditionally offer to takeover all remaining megb sahres) in 60c?
"...Arenga’s shareholding in MEGB will increase to 27.01% and the collective shareholding of Arenga and its PACs in MEGB will increase to 50.01% upon the completion of the Proposed Acquisition."
Above is from the source, i.e. SMRT annoucement. The key sentence is collective shareholding of Arenga (i.e. Creador) and its PACs (Parties Acting in Concert). Both parties are acting "together" hence their collective holding is > 33%. That's why it will trigger MGO.
Shareholders of MEGB will not be "forced" to sell at 60 sen. That is why Brahmal said shareholders can choose to sell or participate in the growth of MEGB post-acquisition.
@63333336, It doesn't mean staying listed, major shareholder can't have > 33%.
The word "mandatory" means the major shareholder (> 33%) is required to launch a general takeover offer. Now, whether or not minorities accept the offer is another story. If insufficient minorities accept it, then it stays listed.
It is stated in page 13, the turnaround plans for MEGB
1. Continue Asset-light strategy 2. replace directors and management 3. new programmes course offerings 4. shared services with SMRT - cost cutting 5. rebranding for megb group 6. cross-selling programmes
While MEGB has received some negative publicity in the past, the goal is to focus on building a new chapter and bring new life into the MEGB Group with the objective of rebuilding AMU into a leading educational institution in Malaysia while providing high quality of education to students.
Following the completion of the Proposed Acquisition, the MEGB Group will be rebranded such that the branding focus is not on “Masterskill”, but rather as AMU.The Company sees the opportunity in turning around the business of the MEGB Group due to the SMRT Group’s expertise and track record as well as good working relationship with players in the education industry and relevant government bodies, which is important given that the education industry is highly regulated.
yes, is good deal indeed. SMRT is profit making company where education business contribute more than 50% profit. With the present of SMRT, megb has brighten future. Soon megb will turn profit making as well.
sifu2... The word "mandatory" means the major shareholder (> 33%) is required to launch a general takeover offer. Now, whether or not minorities accept the offer is another story. If insufficient minorities accept it, then it stays listed. --- meaning although major shareholder > 33%, ikan bilis like us can still hold (not sell to Creador) and remain our share holding?
please don't get confused by this: "RM 112 million for 30.57%". Just ignore thestar news on this news, no such things and it was wrongly stated the thestar.
please refer to sifu skng74: 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. 12/01/2015 14:19
RM112M is for the remainder of shares at 60 sen. NOT RM 112 million for 30.57%
Why top up megb? Smrt bought megb shares with only 0.60cent, now megb price shown overvalued than the bought price from smrt. Being a Smart move should buy smrt isn't it?
market value RM110m, is around 29c per megb share (total share 376,119,400; calculated based on Mr. Siva's entire shareholding in MEGB consisting of 115,656,700 ordinary shares in MEGB ("MEGB Shares"), representing 30.75%).
previously the proposed disposal is ITS OPERATING PROPERTY ASSETS IN CHERAS, KOTA KINABALU, KUCHING AND PASIR GUDANG -- market value is around RM110m, which is based on my calculation is worth 29c per share. ++ other assets & future growth with SMRT present (honoursly i duno how to calculate this). layman term, 29c+29c+29c (assume) = 87c.
the way i see it , is very simple. brahmal still a substantial shareholder, his entry in smrt is 47.64 cents . megb he will boost it to 1 rm plus . thats it. megb --short term upside smrt--long term upside
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Posted by MK123 > 2015-01-12 14:22 | Report Abuse
So complicated! So what it means actually? Which one is right ?