Plato Capital is undertaking a voluntary delisting exercise to take the company private by way of a selective capital reduction exercise, which entails the cancellation of the issued shared ordinary shares in the capital of the company.

 

Plato Capital will be reducing the issued and paid-up share capital of the company by $6.38 million and cancelling about 2.1 million shares. The exit offer price is $3.05 for each share, and Plato Capitalsays that this offer is final.

 

The company says that the exit offer provides an exit option for shareholders who wish to realise their entire investment in the shares but find it difficult to do so as a result of the low trading volume.

 

The offer price is approximately 111.81% over the last transacted price per share of $1.44 on May 23, 2025, being the last trading day. It represents a premia of 107.48%, 58.03%, 55.61% and 56.41% over the volume weighted average price per share for the one, three, six and twelve-month periods, respectively.

 

Plato Capital will convene a general meeting to obtain shareholders&rsquo approval for the delisting, and the resolution has to be approved by a majority of 75% of the total number of issued shares.

On May 27, Plato Capital : YYN 0%chairman and non-executive non-independent director Lim Kian Onn acquired 50,000 shares at an average price of S$2.12 per share.

 

With a consideration of S$106,000, the married deal increased his deemed interest in the investment group from 82.14 per cent to 82.55 per cent. His preceding acquisition was on Apr 12, with 283,000 acquired shares at S$2.21 per share.

 

Lim founded the Libra Capital Group in 1994 and co-founded the holding company, ECM Libra Group in 2002. The latter is listed on the main market of Bursa Malaysia Securities.

On May 27, Plato Capital : YYN 0%chairman and non-executive non-independent director Lim Kian Onn acquired 50,000 shares at an average price of S$2.12 per share.

 

With a consideration of S$106,000, the married deal increased his deemed interest in the investment group from 82.14 per cent to 82.55 per cent. His preceding acquisition was on Apr 12, with 283,000 acquired shares at S$2.21 per share.

 

Lim founded the Libra Capital Group in 1994 and co-founded the holding company, ECM Libra Group in 2002. The latter is listed on the main market of Bursa Malaysia Securities.

On Apr 12, Plato Capital : YYN 0% chairman and non-executive non-independent director Lim Kian Onn acquired 283,000 shares at an average price of S$2.21 per share. With a consideration of S$625,430, the married deal increased his deemed interest in the Catalist-listed investment group from 79.81 per cent to 82.14 per cent.

 

Lim founded the Libra Capital Group in 1994 and co-founded the ECM Libra Group in 2002. The holding company ECM Libra Group is listed on the Main Market of Bursa Malaysia. He launched a conditional mandatory takeover of ECM Libra Group in May 2022. However, the offer did not receive adequate acceptance to fulfil the acceptance conditions.

 

Prior to founding the Libra Group, Lim was with Hong Leong Group, Malaysia, as executive director in the stockbroking arm between 1984 and 1993. He was responsible for corporate finance, research, and institutional sales.

 

In the recently published Plato Capital FY 2023 (ended Dec 31) annual report, Lim noted that in FY23, the group achieved a net profit of S$18.89 million, compared to S$3.61 million in FY22, a noteworthy fivefold improvement. Lim added that while this significant gain was mainly attributable to the disposal of the investment in the group&rsquo s precision engineering venture, TYK Capital, the group&rsquo s hospitality and education portfolio also registered profits on the back of improved demand and revenues.

 

Lim also highlighted that the group&rsquo s sole operating hospitality asset &ndash a 50 per cent equity interest in the 452-key Tune Hotel KLIA2 &ndash continued to record month-to-month improvements in occupancy, with an average occupancy of 82 per cent across the year. Revenue per available room of S$52 represented an 80 per cent increase relative to FY22.

 

As at Apr 18, the market capitalisation of the stock was S$30 million, with a price-to-book ratio of 0.52 on the back of the share price rallying from S$2.07 at the end of 2023 to S$2.50 as at Apr 18. The five-year average price-to-book ratio is 0.36. The stock maintained a return on equity ratio of 24 per cent, with group net current assets at S$26.09 million as at Dec 31, 2023, compared to S$4.43 million as at Dec 31, 2022.

Between Oct 11 and 13, Plato Capital : YYN 0%chairman, non-Independent and non-executive director Lim Kian Onn acquired 30,600 shares at an average price of S$2.27 per share. With a consideration of S$69,438 this increased his deemed interest from in the Kuala-Lumpur- based investment group from 74.52 per cent to 74.77 per cent.

 

In August, the group noted that revenues and profitability at the 452-key Tune Hotel KLIA2 continued to improve in line with increased flight frequency at the adjoining KLIA2 and associated demand from key leisure and group segments. The group added that labour availability issues and persistent cost inflation continue to pose challenges to the operating and financial performance of the property.

 

At the same time, Epsom Malaysia continues to see sustained increases in student enrolment but faces challenges in maintaining margins in the light of the weakening Malaysian ringgit and rising expatriate teacher costs.

Between Jan 12 and 17, Plato Capital : YYN -4.88% chairman, non-Independent and non-executive director Lim Kian Onn acquired 123,200 shares at an average price of S$1.87 per share.

 

With a consideration of S$229,786 this increased his deemed interest in the investment group from 73.46 per cent to 74.47 per cent.

 

The shares were acquired by Cosima Investments, a company that is 100 per cent owned by Lim.

 

His preceding acquisition was on Nov 22, with 3,100 shares acquired at S$1.23 per share, with his deemed interest in Plato Capital gradually growing from 65.13 per cent at the end of 2019.

 

Lim founded the Libra Capital Group in 1994 and co-founded the ECM Libra Group in 2002.

 

The holding company of the ECM Libra Group, ECM Libra Group is listed on the Main Market of Bursa Malaysia Securities. For its H1FY22 (ended Jun 30)

 

Plato Capital reported a net attributable loss of S$0.25 million compared to a net loss of S$1.04 million in H1FY21.

 

On Jan 10, Plato Capital announced that its 70 per cent owned subsidiary Positive Carry received a non-binding offer (subject to a due diligence by the potential third party purchaser) for all the shares owned by TYK Capital.

 

The indicative and tentative cash consideration for the offer is RM120 million (S$36.49 million).

 

The group noted that with the 70 per cent ownership, Plato Capital&rsquo s portion of the consideration for the potential disposal is an indicative and tentative amount of RM84 million.