The Board of Directors of Master Ad Public Co., Ltd. (MACO) decided unanimously to acquire VGI Global Media (Malaysia) Sdn. Bhd. (VGM), a subsidiary of VGI Global Media (VGI), who hold shares in the leading outdoor adv media engaged in airports and mass transit systems in Malaysia, thus providing MACO the opportunity to company expand its outdoor adv media business into the ASEAN region.
“We take pride in our outdoor adv leadership position in Thailand”, Mr. CK, MACO Chief Executive Officer said, “and this investment, allows, MACO to take a major new step to become the flag bearer of the VGI Group in expanding the outdoor adv media business overseas. VGI Malaysia (VGM) has acquired a strong and extensive network in Malaysia and is already a major player in airport adv media and other media in Malaysia. They also have other outdoor media networks under its management. Making this investment at this opportune time will allow MACO to strengthen and advance its adv media network in Malaysia.”
Today, VGM holds shares in Titanium Compass (TCSB), holder of a 10 years exclusive onboard adverting concession in the new mass transit system in Malaysia and also in Meru Utama Sdn. Bhd., an adv media service provider in the principal and other low-cost airports in Malaysia. There are more than 61 million passengers visiting those airports each year at this moment In addition, VGM still holds shares in other companies engaged with a variety of outdoor adv media such as outdoor billboards, adv media in office buildings, department stores and cinemas. VGM is also a partner in a company holding a 20 year advertising concession in the MRT Jakarta.”
The Chief Executive Officer added, “VGM is today a leader in airport adv media and mass transit. With long-term exclusive business agreements in Malaysia and Indonesia, it’s expected that VGM will grow to become the No. 1 adv media service provider in travel and transit in the next 3 years. If the acquisition is successfully concluded, it will allow MACO to expand its adv media network into the ASEAN region. This acquisition will also drive additional revenue for MACO in the future. It is expected that this deal will be concluded by the third quarter of this year, subject to approval by shareholders in a general meeting.”
The Board of Directors also passed a resolution approving the increase of the Company’s registered capital by issuing 2,407mn ordinary shares that are allocated for the accommodation of 1) a General Mandate for a private placement of up to 344mn newly issued ordinary shares, 2) a Rights Offering to existing shareholders of up to 688m newly issued ordinary shares and 3) Warrants (MACO-W2) in tandem with the aforementioned Rights Offering of up to 1,376mn newly issued ordinary shares. The above-mentioned will be proposed to the shareholder meeting for approval.
