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GK GOH
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katak88
Master |
07-Apr-2023 12:16
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3. LEVEL OF ACCEPTANCES AND AGGREGATE SHAREHOLDINGS Total number of (i) Shares owned, controlled or agreed to be acquired by the Offeror and the Offeror Concert Parties and (ii) valid acceptances of the Offer from Shareholders (other than the Offeror Concert Parties) as at 6 p.m. (Singapore time) on 6 April 2023 : 282,946,584 shares (90.03%). 4. OFFER DECLARED UNCONDITIONAL IN ALL RESPECTS The Financial Advisers wish to announce, for and on behalf of the Offeror, that the Offeror has, as at 6 p.m. (Singapore time) on the date of this Announcement received valid acceptances (which have not been withdrawn) in respect of such number of Shares, which, when taken together with the Shares owned, controlled, acquired or agreed to be acquired before or during the Offer, results in the Offeror and the Offeror Concert Parties holding 90 per cent. or more of the total number of Shares in issue (excluding any treasury shares) as at the close of the Offer. Accordingly, as the Acceptance Condition has been satisfied, the Offer is hereby declared to be unconditional in all respects. 5. FINAL CLOSING DATE Pursuant to Rule 22.6 of the Code, after an Offer has become or is declared unconditional as to acceptances, the Offer must remain open for acceptance for not less than 14 days after the date on which the Offer would otherwise have closed. Accordingly, the Financial Advisers wish to announce, for and on behalf of the Offeror, that the Closing Date of the Offer is extended from 5.30 p.m. (Singapore time) on 11 April 2023 to 5.30 p.m. (Singapore time) on 25 April 2023 (the &ldquo Final Closing Date&rdquo ). Notice is hereby given that the Offer will not be open for acceptance beyond 5.30 p.m. (Singapore time) on the Final Closing Date, and acceptances received after 5.30 p.m. (Singapore time) on the Final Closing Date will be rejected. |
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Joelton
Supreme |
29-Mar-2023 10:04
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GK Goh independent financial adviser deems privatisation offer &lsquo fair and reasonable&rsquo
AN INDEPENDENT financial adviser (IFA) appointed by GK Goh on Tuesday (Mar 28) recommended shareholders accept the offer by GK Goh&rsquo s founder and chairman to take the company private at S$1.26 per share, on grounds that it is &ldquo fair and reasonable&rdquo .
Deloitte & Touche Corporate Finance, which was the IFA appointed, said it arrived at the decision after taking into account market quotations and liquidity of GK Goh&rsquo s shares, historical market performance as well as an assessment of the company&rsquo s financials.
It noted that the offer price of S$1.26 is above the company&rsquo s highest traded share price of S$1.230 in the five-year period prior to the last trading day.
The price to net asset value multiple (P/NAV) of 0.97 times implied by the offer price, while lower than the net asset value of S$1.303 per GK Goh share, is higher than the range of the trailing P/NAV multiples of GK Goh&rsquo s shares in the one-month, three-month, six-month, 12-month, three-year and five-year period prior to the last trading date, said the IFA.
Additionally, Deloitte & Touche thinks that while the NAV of S$1.303 is fairly representative of GK Goh&rsquo s assets, the carrying value of these assets may not be reflective of the realisable value of the assets as it has not taken into consideration the potential costs and other factors.
This led the IFA to conclude that the offer was &ldquo fair and reasonable&rdquo and it thus recommended shareholders accept the offer.
The offerer, named Verveine, is owned in equal parts by GK Goh founder Goh Geok Khim, who is also the company&rsquo s executive chairman, and managing director Goh Yew Lin.
They intend to restructure GK Goh&rsquo s asset mix if the proposed delisting and privatisation is successful.
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Luckygal
Member |
01-Mar-2023 14:32
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Do we still get the 0.2 cents dividend? | ||||
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Joelton
Supreme |
01-Mar-2023 11:24
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GK Goh owners launch offer to privatise company at S$1.26 per share
A SPECIAL purpose vehicle (SPV) owned by GK Goh&rsquo s founder and chairman, as well as its managing director, on Tuesday (Feb 28) launched a voluntary conditional offer to take the mainboard-listed investment company private at S$1.26 per share in cash.
The offer price represents a premium of 38.5 per cent over GK Goh&rsquo s last traded price of S$0.91, which was recorded on the last full trading day of the stock before the company requested for a trading halt on the morning of Feb 27.
It also represents premiums of 38.8 per cent, 39.2 per cent, 37.6 per cent and 34.8 per cent over the volume weighted average price for the one-month, three-month, six-month and 12-month periods, respectively &ndash up to and including the last full market day prior to the offer announcement.
While the offer price is below GK Goh&rsquo s net asset value (NAV) per share of S$1.3033 as at Dec 31, 2022, the offeror highlighted that the implied consolidated, unaudited NAV per share (P/NAV) of 0.97 time is above the highest P/NAV of 0.9 time during the five-year period up to, and including, the stock&rsquo s last trading day.
Named Verveine, the offeror plans to exercise its right to compulsorily acquire all the offer shares not acquired under the offer if it receives valid acceptances in respect of not less than 90 per cent of the total number of issued shares.
Verveine is owned in equal parts by GK Goh founder Goh Geok Khim, who is also the company&rsquo s executive chairman, and managing director Goh Yew Lin.
Both are also directors of existing majority shareholder GKG Investment (GKGI), which owns some 197.6 million or 62.89 per cent of GK Goh. GKGI has given an irrevocable undertaking to accept the offer.
Notwithstanding the irrevocable undertaking, Verveine will have to shell out about S$147 million to fully acquire an outstanding 116.6 million shares in GK Goh.
Citing low trading liquidity along with considerable listing and associated costs, the offeror believes delisting and privatising GK Goh will enable it to &ldquo substantially dispense with such burdens&rdquo and instead, focus its resources and attention on its businesses, investments and operations.
Delisting and privatising the company will also enable greater control and management flexibility to pursue and implement business strategies and strategic options such as restructuring, it added.
Verveine said the offer price is final, and that it does not intend to increase the offer price.
&ldquo After much thought, I have concluded that it is now appropriate to offer the company&rsquo s minority shareholders, many of whom have been with us for decades, the opportunity to realise their investment in the shares and delist the company. The world is an increasingly uncertain place, and there are outsized macroeconomic and geopolitical risks which make it increasingly challenging to generate satisfactory long-term returns,&rdquo said Goh Geok Khim in a press statement.
In the event its proposed delisting and privatisation is successful, the offerors intend to restructure GK Goh&rsquo s asset mix.
Goh Yew Lin expects this to be &ldquo a long process&rdquo and said GK Goh as an unlisted, private company would have greater flexibility to make strategic long-term decisions without as much pressure to deliver profits in the short term.
&ldquo Many of the company&rsquo s existing investments are in private equity and venture capital funds which will take time to mature, and which cannot easily be sold or redeemed. We also view the company&rsquo s aged care businesses and assets in Australia and Singapore as long-term in nature, requiring patience and determination to build value,&rdquo he added.
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chongpin
Senior |
28-Feb-2023 11:18
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Cash consideration of S$1.26 per Share (the &ldquo Offer Price&rdquo ) values G. K. Goh Holdings Limited (the &ldquo Company&rdquo ) at approximately S$396.0 million. The Offer Price is above the highest traded price of the Shares of S$1.23 in the five-year period up to and including the Last Trading Day.
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Joelton
Supreme |
28-Feb-2023 10:37
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GK Goh&rsquo s largest holder said to consider take-private
GK Goh Holdings&rsquo largest shareholder is considering taking the Singapore-listed company private, according to people with knowledge of the matter.
GKG Investment Holdings, which owns about 63 per cent of the company, is working with financial advisers on the deal, said the people. An announcement could come as soon as Monday (Feb 27), the people said, who asked not to be identified as the process is private.
Discussions are still ongoing and GKG Investment could decide against proceeding with the buyout, the people said. Representatives for GK Goh and GKG Investment didn&rsquo t immediately respond to requests for comment.
Trading of GK Goh&rsquo s shares was halted on Monday pending release of an announcement. The company has a market value of S$286 million as of Feb 24.
GK Goh, founded as a Singapore securities business in 1979, is now an investment firm with interests in areas including elderly care, property development and telecommunications, according to its website. GK Goh agreed to sell corporate services firm Boardroom last year to a consortium led by Temasek Holdings. BLOOMBERG
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kt3152
Supreme |
28-Feb-2023 08:35
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This price more reasonable.....
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spursfan
Supreme |
28-Feb-2023 08:04
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VOLUNTARY CONDITIONAL CASH OFFER FOR G. K. GOH HOLDINGS LIMITED AT S$1.26 PER SHARE https://links.sgx.com/1.0.0/corporate-announcements/2KB43QKL4E7FOFVE/748139_Press_Release.pdf |
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kt3152
Supreme |
28-Feb-2023 07:58
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95c too low leh.....
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alexmay34
Veteran |
28-Feb-2023 00:38
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Wah have been waiting very long already! Let' s hope for a fair offer! | ||||
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Sgvale
Supreme |
27-Feb-2023 20:35
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Offer $0.95 | ||||
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taybc1071
Senior |
27-Feb-2023 09:11
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Halted today. Any good news: | ||||
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alexmay34
Veteran |
26-Oct-2022 21:17
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Today big time share buy back, never this amount, hope something brewing! Vested dyodd | ||||
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alexmay34
Veteran |
07-May-2022 13:23
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So with Boardroom sold dividends and special dividen taken, can privatise now? They doing share buy back more after xd They already own 61.38% vested dyodd | ||||
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LongXia
Veteran |
25-Feb-2022 13:30
Yells: "BBs never say why when they buy, never tell when they sell!!" |
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Waaaaaa!! Waaaa.... suaned by girl girl again. Waaaaaa. when was the notice and circular of EGM to discuss Boardroom sale and indication of special dividends? 23 December 2021 when was the EGM held to discuss this? 10 January 2022. when did coffee shops anyhow guess this special dividends? 11 August 2021 waaaaaa.. really cannot take it any more, got to leave this place liao... waaaaaa..
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Luckygal
Member |
25-Feb-2022 09:34
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They have already committed to give the special dividend during the EGM for the Boardroom sale. Hope they can continue to give the normal 2 cents dividend as their bottom line will be hit by the Australian licence issue. |
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LongXia
Veteran |
25-Feb-2022 01:30
Yells: "BBs never say why when they buy, never tell when they sell!!" |
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Very difficult to be humble when the coffee shops are sibeh zhun. GK GOH giving out $0.02 dividends plus $0.20 special dividends ....
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Joelton
Supreme |
11-Jan-2022 09:14
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GK Goh' s shareholders approve disposal of Boardroom stake
SHAREHOLDERS of mainboard-listed investment company GK Goh Holdings G K Goh: G41 0% (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.
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Lobster
Elite |
11-Jan-2022 00:32
Yells: "Even Adam Khoo believes in the Black Market!" |
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At last. Approved...... Coffee shop uncles said chow chow special dividends should be 20cents.. hope so....
GK Goh' s shareholders approve disposal of Boardroom stake |
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Luckygal
Member |
23-Dec-2021 09:03
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Finally moving. Good news coming? | ||||
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