Ngern Tid Lor Public Company Limited recently unveiled significant changes at their Extraordinary General Meeting of Shareholders (e-EGM) no. 1/2024, which took place on June 11, 2024. The meeting was abuzz with approval for a game-changing shareholding and management restructuring plan, featuring the creation of Tidlor Holdings Public Company Limited — simply known as Tidlor Holdings — as a holding company.
Following the green light from the Stock Exchange of Thailand (SET) and other regulatory bodies, and upon receiving the thumbs-up from the Securities and Exchange Commission (SEC) for offering new shares, Tidlor Holdings is all set to launch a tender offer. This offer aims to purchase every single share of the Company from its shareholders by issuing and offering new ordinary shares of Tidlor Holdings. The magic number here is the swap ratio of 1:1, making it a straightforward exchange.
The tender offer’s grand finale is anticipated in Q4 2024. Once the fireworks fade, Tidlor Holdings will apply to list its ordinary shares on the SET, effectively taking over the listing from the Company, who will bow out on the same day. But don’t worry about learning a new ticker symbol; Tidlor Holdings will continue to go by the familiar TIDLOR.
There’s even more on the agenda! The shareholders also gave the thumbs-up to transfer the non-life insurance brokerage business, including the adventurous AREEGATOR and the upbeat heygoody, alongside related assets, to a newly minted company. This new entity will operate a non-life brokerage business on an InsurTech platform in the near future. Once this transfer is a done deal, Tidlor Holdings plans to scoop up 99.99% of the New Company’s shares post-listing of its shares on the SET. This move is a vital component of the entire restructuring strategy.
Mr. Piyasak Ukritnukun, the Managing Director (seen second from the left), took a moment to share his heartfelt gratitude to the shareholders for their unwavering trust in the company’s growth aspirations. He enthused, “This restructuring plan is a landmark event that will bolster our long-term growth by enhancing operational flexibility in both lending and insurance brokerage avenues. It sharpens our competitive edge and paves the way for expansion into related areas, including lucrative strategic partnerships through mergers or joint ventures. Such initiatives will powerfully fortify our group’s overall business, enabling far more effective risk management across varied business lines.”
For those eager to stay in the loop on TIDLOR’s thrilling shareholding and management restructuring saga, updates await at www.tidlorinvestor.com.
This shake-up at Ngern Tid Lor is just window dressing. It’s another case of a company trying too hard to stay relevant in an already saturated market.
I disagree, Mark. This restructuring could enhance operational flexibility, which is crucial for future growth.
Joe, how can you be so sure? These corporate moves often look good on paper but fail in execution. Shareholders need more assurance.
It sounds like a desperate attempt to attract more investors. They still haven’t proven their worth in a competitive market.
Exactly my point, Cathy. This could end up being a costly mistake.
I’m cautiously optimistic. This move could provide them with new avenues for revenue, especially through their InsurTech platform.
InsurTech is the future. If they execute this well, they’ll be ahead of many competitors.
You say that, but InsurTech is still evolving. This could be too much too soon for them.
Steve, every innovation carries risk. But doing nothing is riskier in today’s fast-paced market.
I love the idea of them taking over the listing on the SET – it shows confidence in their long-term strategy.
Just because they’re confident doesn’t mean it’s the best route. Investors should look at the underlying numbers.
True, Lily. But leadership’s vision often sets the course for success.
What’s the big deal about the swap ratio? A 1:1 exchange seems pretty straightforward to me.
It’s not just the ratio, John. It’s also about the perceived value of the new holding company’s shares.
FinancePro, fair point. But if the management believes in it, why shouldn’t shareholders trust them?
Finally, some positive moves in the market. I’ve been waiting for a company to take bold steps like this.
Bold moves don’t always pay off, Mike. Sometimes slow and steady wins the race.
I get that Rachel, but inaction can equally lead to stagnation. This isn’t the time to play it safe.
Is no one worried about the new entity’s 99.99% ownership? That’s borderline monopoly on their own asset transfer.
It’s called strong consolidation. It might be what they need to command their market space.
Captain, strength or not, console when it leads to lack of competition is bad news for consumers.
So typical of corporate speak, calling everything thrilling and adventurous. Just sell us on the numbers, not the fluff.
Tidlor Holdings’ InsurTech plans sound promising. If they can harness technology effectively, it’ll be a game-changer.
Agreed, Vanessa. InsurTech has great potential and can really set them apart.
Anyone think this restructuring could hurt current employees? Major shake-ups always mean job cuts, right?
Paul, not necessarily. It could also mean better roles and opportunities within the new structure.
Joe, I hope you’re right. But let’s not ignore the historical trend of layoffs during such times.
Paul, employees at the floor level usually bear the brunt. But restructuring is aimed at long-term gain.
The expansion plans through mergers and joint ventures sound ambitious. I wonder how soon they can materialize them.
Ambition is good, but companies often bite off more than they can chew. Let’s see how they handle this expansion.
With the proper tech and management, there’s no reason they can’t pull this off. The financial space needs more innovation.
Why the hype around InsurTech? TIDLOR should focus on what they do best rather than spreading themselves thin.
This feels like a calculated risk. The company’s leadership seems confident, which inspires some trust in the plan.