Managing Turnaround for PLCs by Sage 3

ICDM Member’s Exclusive 
Managing Turnaround Situations for PLCs 

What potential personal liabilities do I face as a board director, if the Public Limited Company (PLC) I serve on is experiencing a decline and potential insolvency? It is important to understand how these liabilities can arise and the associated repercussions. 

In the face of external factors that are beyond the Board’s control which can lead to a decline in business, it is crucial for Directors to take immediate action to reduce risks. One effective way to address insolvency issues is through the implementation of a turnaround programme, which amongst others, may include debt resolution. To help Board Members of PLCs navigate these challenges, ICDM, in collaboration with Sage 3 and LCWP, is delighted to invite you to a dialogue session that aims to shed substantial light on mitigating risk for boards whenever businesses face severe decline. This dialogue session is specifically designed for Board Members who possess a growth mindset. By attending this session, you will gain valuable insights and be better equipped to handle contingencies and ongoing situations of severe decline in business performance. Participants will gain a broad understanding of:

1. Options for turnaround
2. Financial aspects, including methods of fundraising in challenging situations
3. Legal and regulatory perspectives such as the duty of Board Members in relation to creditors, the consequence of preferential treatment, etc.
4. Lesser known highly successful government initiatives to support turnarounds
5. Examining major turnaround cases in Malaysia - success stories
6. Why a growth mindset is critical, and what are the psychological factors that impede timely action?

Join us for an insightful session where a panel of esteemed board members will share their valuable experiences and perspectives on the effects of decline and insolvency. Gain firsthand knowledge of how these industry leaders have successfully navigated challenges and adeptly managed turnarounds. Don't miss this opportunity to learn from the best in the field. Register now for an enlightening discussion tailored for professionals like you. During our conversations with Board Members, several pressing questions were raised, which will be addressed during the session.

1. Are boards fully informed about the optimal structure of deals to facilitate rights and placements, specifically in terms of minimising immediate losses, as many exercises may lead to a decline in value after issuance?
2. Do Board Members understand the reasons behind the growing prevalence of qualified accounts among PLCs?
3. Does the Board fully grasp the ramifications of Bursa's PN 17 enforcement action in terms of value depletion?

Send us your pressing questions or issues you would like addressed during the dialogue session upon registration. This dialogue session will be held under the Chatham House Rule.