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SABANA REIT
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luckyguy3
Master |
10-Mar-2023 20:12
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Valore now becomes a major shareholders with it' s extra shares. Then wait they combine with ESR to launch another buy out :) Last time ESR failed, I think they got 66%?. This time if Valore with it' s 10% extra shares supports ESR in launching another take over, I think most Sabana reit holders can say bye bye to their shares liao. Dun u all think is a coincident that Salore is buying 10% extra shares? 66% + 10% = 76% > 75% required |
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pkli899
Supreme |
10-Mar-2023 19:39
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U should have received the circular together with a form which u can feel in the number u wish to tender.
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pkli899
Supreme |
10-Mar-2023 19:35
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No, cobrajr. Will be based on allotment ratio they adopt. |
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cobrajr
Veteran |
10-Mar-2023 18:04
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I've tendered all my units, more than 10%.
Does it mean they buy all my units?
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kkboy1
Member |
10-Mar-2023 17:52
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How to submit the tender? | ||||
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EdmundC
Member |
10-Mar-2023 17:09
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Think its due to sgx regulation they have to extend it. Thinking whether to tender more given the jialat markets... |
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pkli899
Supreme |
10-Mar-2023 11:27
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Stated that extention of 2 weeks be given upon offer becomes unconditional. This is to give time to those who were unsure before. Previously, offer can be withdrawn if 10% not met. So some hesitate to tender their acceptance. Now that it' s unconditional, they are assured. Of course, offer turned unconditional will affect those who submitted more than 10%. Allotment ratio kicks in.
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PhillipTan
Supreme |
10-Mar-2023 08:35
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My guess Maybe because not a lot of people opted in, but a lot of the bigger shareholders did and they opted for excess too So as to give chance to more shareholders? Or maybe because current traded share price is too low, they do this to promote other shareholders to buy at least 10% to sell to them so that the prices will hopefully move up?
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asianguy
Senior |
09-Mar-2023 22:03
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Why is the closing date extended when it is already able to acquire 10% of shares needed ? | ||||
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sure.can.work
Senior |
09-Mar-2023 11:23
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Seriously...just buying from the open market now makes more sense than making so much hoo haa on all this offer 
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chanche2
Member |
09-Mar-2023 11:15
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So the offer become unconditional...and final date extend another 2 weeks... So what will happen to those who already accepted earlier ? can revise ? |
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Joelton
Supreme |
09-Mar-2023 09:48
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Volare&rsquo s partial offer for Sabana Reit turns unconditional
As a result of the offer turning unconditional, the offer&rsquo s closing date has been extended by two weeks to 5.30pm on Mar 24, 2023, from the same time on Mar 10. PHOTO: SABANA INDUSTRIAL REIT
VOLARE Group&rsquo s voluntary conditional cash partial offer to acquire an additional 10 per cent of Sabana Industrial Reit : M1GU -1.18% (Sabana Reit) at S$0.465 per unit has been declared unconditional in all respects.
This comes after the Swiss group, which is a substantial shareholder of Sabana Reit, received valid acceptances amounting to over 177.2 million units or 16.2 per cent of the real estate investment trust as at 6pm on Wednesday (Mar 8).
Together with valid acceptances of the offer, the total number of shares owned, controlled or agreed to be acquired by the offerer and its concert parties represent a total of 236.7 million units or 21.6 per cent of the Reit.
Under the partial offer, the offeror is not permitted to acquire any additional units which may be tendered for acceptance under the offer. Therefore, the number of excess units tendered will be accepted on a pro-rated basis up to the number which will equal to the number of offer units, at the close of the partial offer.
As a result of the offer turning unconditional, the offer&rsquo s closing date has been extended by two weeks to 5.30pm on Mar 24, 2023, from the same time on Mar 10.
Volare, which currently holds 5.4 per cent of issued units in Sabana, is a Switzerland-incorporated entity with various businesses. Its subsidiary, Oel-Pool SG, is one of Switzerland&rsquo s leading suppliers of fossil fuels, and operates over 700 petrol stations together with its unit, Moveri.
The group previously said that it is launching the partial offer to diversify its business away from fossil fuels and build up its real estate portfolio.
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SmallSmall
Supreme |
09-Mar-2023 09:04
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Quite safe to buy $0.425 and try to sell 1 tick or 2 higher as the shareholders who can now tender 10% of their shares for offer at $0.46 can buy back 10% of the shares they sold at current lower price.
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SmallSmall
Supreme |
09-Mar-2023 09:01
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RHTC wishes to announce, for and on behalf of the Offeror, that the Minimum Acceptance Condition has been duly satisfied as at 8 March 2023. ACCORDINGLY, THE PARTIAL OFFER HAS BECOME UNCONDITIONAL AS TO ACCEPTANCES AND IS HEREBY DECLARED UNCONDITIONAL IN ALL RESPECTS ON THE DATE OF THIS ANNOUNCEMENT. | ||||
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EdmundC
Member |
01-Mar-2023 20:03
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To be safe, tender 30-40%. can be that alot of shareholders miss the letter or overseas and do not tender. usually can be 20-30%. ESR also should be note tendering, If tender more, can get more taken up.
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pkli899
Supreme |
28-Feb-2023 11:54
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Thanks for the info. | ||||
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PhillipTan
Supreme |
28-Feb-2023 08:45
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From my understanding 1) They only want 10%, so if they cannot get us shareholders to offer them the 10%, the offer is no more. 2) They only want 10%, excess of 10% will not be taken into consideration. If everyone offers 10% exactly, they take the 10%. In real life, there will be people who offers and people who don' t offer If some don' t offer, others offer more and the total offered is 10% or more, they only take 10% How they take will be 10% from all those who offered 10% or even more? Take 10% from everyone who offered Excess offered will be pro-rated like rights issue until they get 10% 3) N.A.
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pkli899
Supreme |
27-Feb-2023 11:01
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I didn' t read the offer circular thoroughly. Is the offer unconditional and irrevocable? What if: 1. Total acceptance is less than the 10% they want. Will they call off the offer? 2. Total acceptance is higher than 10%. Will they take in excess of 10%? 3. Total acceptance crossed the 30% threshold. Will there be a general offer? |
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PhillipTan
Supreme |
26-Feb-2023 21:23
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Since you are so confident that Sabana is worth more than that Are you buying as much as possible from open market since the price is way lower than offered price? Since offered price is higher than market price, isn' t it worth considering buying from market to replace your holding and then selling your holding to them? 
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mrwise
Supreme |
25-Feb-2023 12:34
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Lousy offer.....Sabana worth more than that! Who wants this type of offer?!!! |
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