hope maa will be different

you look back d people manage d company,

melewar industrial share price 0.345 , nta 1.34
mycron steel share price 0,475, nta 1.14

share price not reflected d nta, why?? i ve d answer, but i cant write here
this 3 company having d same owner, so think for ur self lah

u talking net cash per share 1.50 after spe div., are they going to give u???
they are going to buy overvalue assets dont need ur approval
anyway i vote NO lah

goose die already, no more golden egg.
because u guys vote yes yes yes
u give them a free hand to buy what they want, they told u buy assets no need egm,

it might come down to 0.6 cents

sell d share, long term not good

I think both of u ve misinformed about the EGM

Basically when u vote YES, u are allow them
1) to disposed Maa takaful
2) to acquired new business/assets
3) to issue right issues
4)special div 0.35cents
all this stated in d EGM circular.

If we manage to Vote against this EGM, at least we tell d board what we want, the board might call for another EGM. we can tell d board d following:
1) pay us higher div
2)dont acquired new business/assets
3)privatisation /capital repayment
then we vote FOR

so this EGM we tell them NO
this is d best interest for minority share holders

Please read EGM circular 6.2 pg15, CAPITAL INJECTION

The company might raise capital by way of right issues which is not good for minority s/holders.
so how u vote is all depend what u want, 0.35cents or later right issue

BECAUSE d company still a lot of cash

once they acquired new assets , they money already spent, for what purposed they want to general offer to u, think??
unless they dont acquired new assets, they might GO

please dont dream d board later will general offer to minority share holders
why: because u ve given them d authority to acquired new assets if u vote yes in d coming EGM

REMEMBER they can buy what they want if 1st EGM approved.
over value assets ,d share can come down to 0.60 cents.
im ind market for 22 yrs

I agree with u guys if u vote against d share will come down, but this is temporary only.

The share will go up much higher if d board call for 2nd EGM .
For this to happen we must VOTE AGAINST in d 1st EGM.

if we VOTE AGAINST, the board might call for a 2nd EGM, the offer will be better.

we must tell them this offer is not good because they used 300 millions to buy any asset
then if this happen d share will come down to 0.60 cents when they acquired new assets

At the upcoming EGM there is only 1 resolution – to approve the disposal of MAA. EGM circular to shareholders page 11 states that the special dividend is not subject to the approval of shareholders. The Proposed Special Dividend is conditional upon the completion of the Proposed Disposal but not vice versa. So if we allow them to dispose MAA Takaful then only they will pay the special dividend of 35 sen to shareholders as a sweetener. Apart from that, they can use the RM300 million from the disposal to buy any asset they wish. Something that is not in favour to minority shareholders. They may acquire overvalued assets.

When they acquire new assets the company may come out with rights issue, which we wouldn’t know. All these are disadvantages to the minority shareholders. We need to raise these concerns as the EGM. The future plan of the company is very uncertain.

I am voting against the EGM because of the above reasons. If the vote at the EGM is against the proposal, maybe the Board will have to come out with a better proposal than this. They may call a 2nd EGM.

The company may issue rights issue when they purchase new assets. Noone will know unless we ask.

We can't ask the company to delist from Bursa. But we can ask the major shareholders to take the company private or by capital repayment. Then only it can be delisted from Bursa.

The best option for minority shareholders is to ask the company to be taken private and not to buy new assets. For this to happen, we all have to VOTE AGAINST at the EGM.

Are the major shareholders allowed to vote??

Hope you guys will ask and understand before voting at the EGM.

Hope someone can raise up the following issues at the EGM:

1. If the proposal is approved, will the company issue new rights issue?
2. We are concerned that they may not have the expertise to run the new businesses
3. By acquiring new assets, are they confident that the authorities will approve it (come out from PN17)?
4. To increase the amount of special dividend to 60 sen instead of 35 sen.
5. If they are unable to acquire any assets within 2 years, will the company be privatized or by capital repayment?
6. Will there be a final dividend for this year?

Based on my opinion and experience, we should VOTE AGAINST THE EGM and tell the company not to buy new assets but instead, we ask the major shareholders to take the company private or by capital repayment at a reasonable price. The company has been in PN17 since 2011.

PLEASE VOTE NO AT THE EGM!