Key Takeaways of Investors’ Forum: TA Global’s “Privatisation”: Implication to Minority Shareholders
Ever since TA Global Berhad (TAGB) announced the Conditional Voluntary Take-Over Offer (VGO) by TA Enterprise Bhd (TAEB) on 12 February 2020, MSWG has received numerous complaints from minority shareholders of both companies. The key concern is the huge discount on the offer price compared to the revised net asset value (RNAV) of TAGB.
There is also a possibility of a Mandatory General Offer at TAEB’s level depending on the number of TAGB shareholders who accept the cash option under the VGO. Given the complexities (and inter-dependencies) of the offer, MSWG held an Investors’ Forum to highlight the various salient points and implications of the transactions to the minority shareholders of TAGB and TA Enterprise Bhd (TAEB). The forum was held on last Thursday (27 February) at MSWG’s office in Kuala Lumpur.
About 30 participants, including shareholders of both TAGB and TAEB, journalists, dealer’s representative and consultants, attended the Forum.
Some of the points highlighted by MSWG at the Forum were: