Thread by @ibrahimsaninet

For the 4th time in so many months, Tan Sri Syed Mokhtar Bukhary via his unlisted company -Aurora Mulia- bought Media Prima shares off market. This time, he bought another 2.7% shares on Sept 27th paying a 28% premium.

TS Syed Mokhtar now owns 23.3%

Why is he buying them?

Ok some updates...

CGS CIMB, via their report this morning, puzzled out that the actual total shareholding of Syed Mokhtar in Media Prima is actually 36.10%

via Aurora Mulia 23.3%
via MUFJ 12.84%
Total 36.10%

He could trigger mandatory general offer?

And he buys some more!!!

Tan Sri Syed Mokhtar Bukhari bought 2 blocks of shares off-market. At 60 sen/piece, valued RM53mil

Unlisted Aurora Mulia (TSSMB’s son, Syed Danial is a board member) now owns 31.22% of Media Prima

Surely a Mandatory General Offer will now be triggered?

This is my own calculations of TSSMB’s shares of Media Prima. I stand to be corrected, so go ahead and point it out to me if I got it wrong.

via Aurora Mulia 31.22%
via MUFJ 12.84%
Total 44.06%

Media Prima now at 47 sen/pc so valued at RM521mil

What’s 44% of RM521mil?

And so it happened. 2 new directors named into Media Prima board today.

Dato Iskandar Mifzal now Group ED, and Mohamad Bin Abdullah now Non-Ind Non-ED of MPB.

Both have CVs tied to TS Syed Mokhtar Bukhary

My prediction: new management appointments next. Watch this space.