GK Goh's shareholders approve disposal of Boardroom stake

SHAREHOLDERS of mainboard-listed investment company GK Goh Holdings G41 (GKGH) have voted in favour of the proposed sale of the company's entire 92 per cent stake in corporate-services provider Boardroom to a Temasek-related consortium.

During the extraordinary general meeting (EGM) on Monday (Jan 10), 99.99 per cent of votes were in favour of the resolution to dispose the company's stake in Boardroom. Around 226 million shares were represented by votes cast at the EGM, held via electronic means, on Monday.

Apricus Global, an investment vehicle owned by the consortium comprising Temasek-linked 65 Equity Partners Holdings and private equity firm Tower Capital Asia, had in August last year made the cash offer price of S$1.48828 for each Boardroom share, which valued Boardroom at around S$312 million.

GKGH had been a Boardroom shareholder since 2004, and had established Boardroom as a full-suite corporate services platform in the Asia-Pacific.

In July 2019, Boardroom was taken private by GKGH which offered S$0.88 in cash for each Boardroom share, a deal that valued the company at S$184.5 million.

GKGH shares last traded at S$1.17 on Jan 6 before it called for a trading halt on Monday.

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