In a move to realize value for MIIF’s shareholders, MIIF proposed to divest TBC into a business trust and payout in units and special dividends to shareholders.

MIIF finally proposed concrete plans to divest its crown jewel TBC into a business trust.

The full report can be viewedhere. You should read this article I posted 2 years ago on MIIF before reading this.

Shareholders not happy with MIIF

To recall, a few majority share holders was thinking that MIIF was not taking the steps to realize value for their shareholders and so there was a very big hooha to force a change in the board. That failed and MIIF engaged CIMB to do a strategic review.

In light of this strategic review, MIIF proposed to

• distribute existing excess cash to Shareholders as a special dividend;
• commence a joint process with Macquarie Korea Opportunities Fund (“MKOF”), MIIF’s TBC co-shareholder, to ...