@Johnzhang, can you please give me straight forward answer as well? don't ask me don't look back.. For Insas, if my enter price is 0.9-1.. and Big boss offer price is 1.15.. I'm sure will take the offer.. and look for other opportunity. Period..
In case none of you are aware, MrSslee was at one time one of the 30 largest shareholder of Insas until he sold off early this year a substantial amount for huge monetary gains.
SCR outcome only either remain listing (fail) or delist (success).
But conditional MGO those want to exit with some profit at the offer price are welcome to accept the offer and those do not will still can hold on to their share as the listing status remain.
I will not accept the RM 1.15 offer but I welcome the offer and will be happy if the controlling shareholder can increase his holding to above 50%
As provided for under subparagraph 2(f) of Schedule 3 of the Rules, the Special Resolution:- (i) must be approved by at least a majority in number of the disinterested shareholders of MPHB and 75% in value of the votes attached to the MPHB Shares held by the disinterested shareholders of MPHB that are cast either in person or by proxy at the EGM; and (ii) must not be voted against by more than 10% of the votes attached to the MPHB Shares held by disinterested shareholders of MPHB of the total voting shares of MPHB.
In Insas' case there are almost 22,000 shareholders (compared to only 10,000 in MPHBCap) and a SCR would be extremely difficult to succeed given that it requires 11,000 shareholders to vote YES.
@Sslee , welcome an unacceptable offer ? Haha. I presume you meant wait for others who are equally ‘helpless and powerless ‘ to decide your fake. Don’t you think it is a self fulfilling prophecy? For a season investor like you , don’t you feel the urge to take small steps to promote minority shareholders activism and to encourage more minorities to stand up against bully? The end results may disappoints but I think a slight effort by many of us shall make some difference in the future. Rome is not built in one day . —————————- Sslee wrote: I will not accept the RM1.15 offer but I welcome the offer..
I would not think controlling shareholder of Insas Dato' Sri Thong will think he can privitised Insas by SCR route.
The most he can do is trigger the 33% threshold and offer an conditional MGO and hoping that by converting his Insas-WC, he can increase his holding to 50%+.
Your behavior has certainly changed, at least in the case of MPHB capital. We can't count on you to promote minority shareholders activism . Not fear mongering and pouring cold water is already a big service from you .
Whether our effort will eventually pay off is yet to be seen .But at least we make some effort and encourage minority shareholders activism along the way .
One or a few people may not make any impact , but 50 or 100 people coming together may bring minorities’ power alive .
I don’t wish to say more . ——————————
Sslee wrote : I attend physical AGM not to collect door gift but to collect name cards.
I had make so many complaints to Bursa and SC on many companies. I hold BOD accountable, responsible and answerable during AGM Q&A.
Our comments: Based on the above, the SCR Offer Price of RM1.70 per Offer Share represents:- (i) a discount of 48.01% to the estimated fair value of MPHB Shares of RM3.27 per Share; and (ii) a discount of 30.33% and the unaudited consolidated NA of RM2.44 per Share as at 31 March 2024. Pursuant thereto, we are of the view that the Proposed SCR is NOT FAIR.
We are of the view that the Proposed SCR is REASONABLE as it provides an exit opportunity to the disinterested shareholders of MPHB, especially for those holding a significant number of MPHB Shares, to realise their investment in MPHB for cash at the SCR Offer Price expeditiously in view that:- Historical market prices of MPHB Shares (i) MPHB Shares have not traded above the SCR Offer Price during the past three (3) years prior to and up to the LPD; (ii) SCR Offer Price represents a premium of between 8.28% and 50.90% over the 5-day, 1-month, 3-month, 6-month and 1-year VWAMP of MPHB Shares up to and including the LTD; and (iii) SCR Offer Price represents a premium of between 6.04% and 25.98% over the 5-day, 1-month, 3-month, 6-month and 1-year VWAMP of MPHB Shares up to and including the LPD. Historical trading liquidity of MPHB Shares
Johnzhang Your behavior has certainly changed, at least in the case of MPHB capital. We can't count on you to promote minority shareholders activism . Not fear mongering and pouring cold water is already a big service from you .
Whether our effort will eventually pay off is yet to be seen .But at least we make some effort and encourage minority shareholders activism along the way .
One or a few people may not make any impact , but 50 or 100 people coming together may bring minorities’ power alive .
I don’t wish to say more
My take: I do not hold any MPHB share but still hold Insas. I have Insas CEO HP number and we exchange whatsapp greeting during festival.
If you are what you said you are (make effort) then you should make appointment to meet with TAN SRI DATO' SURIN UPATKOON and negotiate an agreed deal with him before the EGM.
You need to know many of the minority shareholders are eager to exit at RM 1.70. Why deny them the opportunity to exit?
At this market environment, consolidation or correction, is good time to agree yes to exit. Whatever fair value 3.x, no body willing to buy at the open market, is just valuation. Mr market always always right, those wish for 3, can fight with mr market, keep buying till 2, u still can gain 1, go do this, or just accept.
The circumstances have changed. When market was super bullish, I was against 1.70. but now that market has soften, 1.70 is a good deal. Can take the money buy other battered down stocks
Ya, another comment need to aware is if the company really worth valuations of 3.x, this credit should enjoy by the owner or founder of the company for their efforts. We just tumpang buy the shares, can gain some considered good already
I totally agree with Sslee statement. If Johnzhang able to nego with Big boss. there is win win situation. No need to go for war.... There is a lot of opportunity up there. After exit this MPHB, another general offer is on the road.. u can gain about 9-10% in few months.
Remember when John Zhang said that his team got 20mil shares would vote against ? Why is it now said that only 3mil shares will vote against? Is it lying, or is the tide turning
This year's Agm has 300 million shares in attendance, and you only have 3 million shares. What makes you feel that only 1% of the stake is a large stake
After reading so many Johnzhang thread.. I'm know what is Johnzhang motive. Those who cooperate with him thought he is helping them to nego for better offer.. lol... I don't want to say too much here.. later it come to war.
U all must ingat what happened in MWE . 1st, a trial offer $1.70 made to test water. There was little noise from shareholders & from here that fellow already knew the level of resistance was not expected to be strong when he made the 2nd attempt. After a little wait, he made new offer $1.75 and took it without sweat pasal semua tidur. U all don't see this ? U all still sleeping ? U still don't see why same level of price used in MWE for MPHB ? The follow trying his luck. Kalau takada bantahan dia dapat lagi lah!
We wish to inform you that MSWG will be hosting a forum specifically for minority shareholders of MPHB concerning the Proposed SCR. This event will take place on 3 September 2024, at 3:00 pm, at Bukit Kiara Equestrian & Country Resort, Kuala Lumpur. We will be making an official announcement with a registration link this Monday.
Please note that MSWG does not provide comments on blogs or social media except through our channels, weekly newsletters, and mainstream media. For this Proposed SCR by MPHB, we strongly advise all minority shareholders to thoroughly review the Independent Advice Letter (IAL) issued by UOB Kay Hian Securities (M) Sdn Bhd, the appointed Independent Adviser for disinterested shareholders. The IAL provides crucial comments, opinions, information, and recommendations on the proposed SCR, enabling you to make an informed investment decision.
This forum is being organised in response to requests from minority shareholders to assist them in understanding the IAL and the offer presented. Please be aware that the purpose of this forum is to facilitate comprehension, not to influence or direct how you should vote.
We would also like to emphasise that MSWG represents the collective interests of all minority shareholders, not just a selected few. We welcome the opportunity to meet with you if you have any specific concerns regarding the proposed SCR. Alternatively, we are available for a call on Tuesday. Please let us know if that works for you.
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....
GeniusInvestor
27 posts
Posted by GeniusInvestor > 2 months ago | Report Abuse
@Johnzhang, can you please give me straight forward answer as well? don't ask me don't look back..
For Insas, if my enter price is 0.9-1.. and Big boss offer price is 1.15.. I'm sure will take the offer.. and look for other opportunity. Period..