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 MEGB, ~ new IPO worth that much?

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wil-i-am
post Mar 21 2014, 12:35 PM

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Masterskill Education Group Bhd's shares increased in early trading today following news that a major shareholder, Siva Kumar M Jeyapalan, had entered into a 'put and call' option to dispose his entire stake in the company for RM1.10 a share.

At 10.15am, Masterskill Education's share price rose 8.6 per cent or 3.5 sen to 44 sen, with 8.3 million shares transacted.

Masterskill Education, in a filing to Bursa Malaysia yesterday, said Siva Kumar entered the agreement with a businessman, Gary How Soong Khong, giving the
former the option to dispose his equity stake in the company at RM1.10 a share.

The company said the agreement also offered an option to How to buy Masterskill Education's shares at RM1.10 at any time by exercising the call option.

Currently, Siva Kumar owned 122 million shares in Masterskill Education, representing 29.76 per cent of the entire issued and paid-up share capital of the company.-- Bernama


wil-i-am
post Mar 21 2014, 06:10 PM

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Up 13.5 cents to 0.54 today which is d highest for past 3 mths
wil-i-am
post Mar 28 2014, 08:08 AM

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Block of 16. 5 million MEGB shares crossed at 42.5 sen
http://www.thestar.com.my/Business/Busines...sed-at-425-sen/
wil-i-am
post Apr 1 2014, 07:47 AM

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From education to restaurant?

MEGB wishes to announce that MEGB had on 28 March 2014 entered into an Agreement (“Agreement”) with Ye XiaoQuan (“Ye”) and Wu MinYing (“Wu”) (“collectively referred to as “Sellers”) for the acquisition of a total of 118,000,000 (104,520,000 and 13,480,000 from Ye and Wu respectively) ordinary shares of HKD0.0010 each (“Sale Shares”) in the share capital of Gayety Holdings Limited (“Gayety”) at HKD0.40 per Sale Share (“Sale Price”) amounting to an aggregate consideration of approximately HKD47,200,000.00 (equivalent to RM19,982,134 at the prevailing exchange rate of RM1.00 to HKD2.36211 being the average of the bank’s purchase and sale rate of the banknotes) (“Purchase Consideration”).

Please refer to the attachment for further details.

This announcement is dated 31 March 2014.

nexona88
post Nov 6 2014, 09:35 PM

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From: REality

Masterskill sells properties to controlling shareholder to pare down debts. The corporate exercises include two types of property assets disposal — namely the campuses in Cheras, Kota Kinabalu, Kuching and Pasir Gudang — and the non-operating premises in Kota Kinabalu, Kota Bahru and Petaling Jaya .

The campuses are set to sell both proposed disposals to its controlling shareholder cum Executive Director Siva Kumar, or his nominated company.

The indicative sale consideration for operating property assets is proposed at RM75 million cash (subject to independent valuation), of which RM42 million will be used to repay all existing bank borrowings.

The surplus after repayment of bank borrowings will be retained as working capital. The current book value of these properties are RM74.2 million, while book value for non-operating property assets total at RM118.9 million.

Sale proceeds from non-operating property assets will be retained as working capital or distributed to shareholders as dividends, according to the announcement today.

To top that, Masterskill also proposed to leaseback the operating property assets, in order to continue its business operation.

Masterskill’s aim is to reduce its gearing to zero. According to its second quarter financial statement as at June 30, total liabilities stood at RM58.06 million.
Fabio1
post Dec 17 2014, 11:44 PM

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http://www.malaysia-chronicle.com/index.ph...3#axzz3M8S2bgst
nexona88
post Jan 12 2015, 03:25 PM

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SMRT Holdings Bhd and private equity firm Creador will be making a general offer for a 30.75% stake in Masterskill Education Group Bhd (MEGB) for around RM112mil in the next few days.

The subsidiaries of SMRT and Creador respective subsidiaries entered into a share sale agreement to acquire the stake from MEGB major shareholder and executive director Siva Kimar M. Jeyapalan for 60 sen each.

MEGB, which owns Asia Metropolitan University, will be rebranded as Asiamet Education Group Bhd.

The listing status will be maintained and will give existing MEGB shareholders the option to either accept the offer or to be a part of the future growth of the company.


nexona88
post Feb 5 2015, 10:14 PM

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Masterskill proposes asset disposal to director for RM80m
http://www.theedgemarkets.com/my/article/m...0m?type=Markets
nexona88
post May 27 2015, 10:17 PM

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Masterskill to pay RM20mil in dividends from surplus cash
http://www.thestar.com.my/Business/Busines...cash/?style=biz
nexona88
post Jun 29 2015, 11:00 PM

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MASTERSKILL EDUCATION GROUP BERHAD (MEGB) has changed its name to ASIAMET EDUCATION GROUP BERHAD (AEGB) with effect from 9.00 a.m., Tuesday, 30 June 2015

mikehwy

This post has been edited by nexona88: Jun 29 2015, 11:02 PM

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