Genting Malaysia Bhd. · MYX:GENM
Genting Malaysia Bhd — Shareholder Meeting (June 2023)
13 slides from Genting Malaysia Bhd's shareholder meeting presentation, Jun 15, 2023
Slide 1: Extraordinary General Meeting: Proposed Disposal of the Miami Land
GENTING MALAYSIA BERHAD Registration No. 198001004236 (58019-U) EXTRAORDINARY GENERAL MEETING PROPOSED DISPOSAL OF THE MIAMI LAND FOR A TOTAL CASH CONSIDERATION OF USD1.225 BILLION (APPROXIMATELY RM5.482 BILLION) Principal Adviser 15 JUNE 2023
Slide 2: I. Brief Information on the Miami Land
I. Brief Information on the Miami Land The Miami Land comprises four parcels of land located in Miami, Florida measuring approximately 673,691 sq. ft. It is located close to commercial, residential and shopping areas and is located directly across the street from the Adrienne Arsht Center for the Pe
Slide 3: I. Brief Information on the Miami Land (cont'd)
I. Brief Information on the Miami Land (cont’d) C B D A 2
Slide 4: II. Rationale for the Proposed Disposal
II. Rationale for the Proposed Disposal Growth of Miami The Miami property market has grown significantly since GENM’s property market acquisition of the Miami Land in 2011. Unlock the value of GENM can capitalise on the growth of the property market and non-core asset unlock significant value in a
Slide 5: III. Basis for the Disposal Consideration
III. Basis for the Disposal Consideration The disposal consideration of USD1.225 billion remains unchanged regardless of whether the Proposed Disposal is effected by way of an equity sale or asset sale. The disposal consideration was arrived at on a willing buyer-willing seller basis after taking in
Slide 6: IV. Key Terms and Timeline
IV. Key Terms and Timeline 7 BD* Execution of Execution of Expiry of DD Closing ** SPA – Amendment Period Initial deposit SPA **If County Consent not obtained by of USD25 mil* Closing:- Release of Initial a) Equity Sale can revert to Asset Deposit Sale EGM b) Asset Sale – Parcels A, B and C to close
Slide 7: Pre-EGM Submitted Questions from Shareholders
Pre-EGM Submitted Questions from Shareholders As stipulated in the Administrative Guide for this EGM, only questions which are related to the EGM will be answered by the Board. 6
Slide 8: Pre-EGM Submitted Questions from Shareholders
Pre-EGM Submitted Questions from Shareholders (Capitalised terms used herein shall have the same meanings as those defined in the Circular dated 31 May 2023 in relation to the Proposed Disposal, unless otherwise stated.) Question 1: (a) What is the overall benefit of the Proposed Disposal to shareho
Slide 9: Pre-EGM Submitted Questions from Shareholders (cont'd)
Pre-EGM Submitted Questions from Shareholders (cont’d) Question 2 : (a) When is the Proposed Disposal expected to be completed and the proceeds received? (b) What is the risk of non-completion of the Proposed Disposal? (c) If the current purchaser is not able to complete the deal, is there any alter
Slide 10: Pre-EGM Submitted Questions From Shareholders (cont'd)
Pre-EGM Submitted Questions From Shareholders (cont’d) Question 2: (a) When is the Proposed Disposal expected to be completed and the proceeds received? (b) What is the risk of non-completion of the Proposed Disposal? (c) If the current purchaser is not able to complete the deal, is there any altern
Slide 11: Pre-EGM Submitted Questions From Shareholders (cont'd)
Pre-EGM Submitted Questions From Shareholders (cont’d) Question 2: (a) When is the Proposed Disposal expected to be completed and the proceeds received? (b) What is the risk of non-completion of the Proposed Disposal? (c) If the current purchaser is not able to complete the deal, is there any altern
Slide 12: Pre-EGM Submitted Questions From Shareholders (cont'd)
Pre-EGM Submitted Questions From Shareholders (cont’d) Question 3: GENM currently owns quite a number of properties including hotel, office & retail in Miami USA. With the sale of the Miami Land, appreciate if GENM can provide the strategy going forward for the rest of the properties in Miami. (a) W
Slide 13: Thank You
THANK YOU
Genting Malaysia Berhad — Shareholder Meeting (June 2023) on 6ix