KUALA LUMPUR: Goldis Bhd announced yesterday it has accepted an offer from Trigoh Sdn Bhd to dispose of its 70% stake in Macro Kiosk Bhd (MKB) for RM15 million cash.
The proposed disposal will be a management buyout (MBO) by Goh Chee Ken, Goh Chee Heng and Goh Chee Seng who are the chief executive officer, chief operating officer and head of corporate affairs of MKB respectively.
MKB’s principal activity is as a mobile communications technology provider.
The three Gohs will conduct the MBO through Trigoh of which they are also directors and shareholders.
The offer price is about five times MKB’s net cash flow which stood at RM5.04 million for the financial year ended Jan 31, 2011.
The 70% stake in MKB was originally acquired for RM105,000 on Feb 1, 2002.
Goldis reported that the expected gain on disposal of MKB will be about RM9.5 million.
Goldis reported that the total proceeds of the disposal will be “utilised for capital expenditure/future investments.
This includes investing in the equities of private companies operating in various sectors.
Goldis had reported a strong third quarter ended Oct 31 net profit of RM237.41 million of which RM221.23 million could be attributable to the disposal of Goldis’ subsidiary, HEOPharmaHoldings Sdn Bhd, on Aug 1.
On the news of a 9.625 sen dividend and strong quarterly earnings announced on Tuesday, Goldis’ share price closed 5% higher yesterday at RM1.88 up from RM1.79.
The proposed disposal will be a management buyout (MBO) by Goh Chee Ken, Goh Chee Heng and Goh Chee Seng who are the chief executive officer, chief operating officer and head of corporate affairs of MKB respectively.
MKB’s principal activity is as a mobile communications technology provider.
The three Gohs will conduct the MBO through Trigoh of which they are also directors and shareholders.
The offer price is about five times MKB’s net cash flow which stood at RM5.04 million for the financial year ended Jan 31, 2011.
The 70% stake in MKB was originally acquired for RM105,000 on Feb 1, 2002.
Goldis reported that the expected gain on disposal of MKB will be about RM9.5 million.
Goldis reported that the total proceeds of the disposal will be “utilised for capital expenditure/future investments.
This includes investing in the equities of private companies operating in various sectors.
Goldis had reported a strong third quarter ended Oct 31 net profit of RM237.41 million of which RM221.23 million could be attributable to the disposal of Goldis’ subsidiary, HEOPharmaHoldings Sdn Bhd, on Aug 1.
On the news of a 9.625 sen dividend and strong quarterly earnings announced on Tuesday, Goldis’ share price closed 5% higher yesterday at RM1.88 up from RM1.79.
