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pkli899 Supreme	20-Dec-2019 19:24        pkli899 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Very ambiguous announcement! First of all, interested party involved. The very first announcement should state already. This announcement the title mentioned " clarification" . Nobody question them just yet! Very funny isn' t it? Offeror owned 49% of manager and 28+% of shares. Why not straight forward buy over shares they have not already owned? Why buy just the golf courses? Very scheming! $783.1m is buying all assets and debts. If this proposal go through, the trust become cash company without asset. The net proceed presumably will be returned to shareholders, that is, offeror end up paying much less (28+% less). Manager will then, either find new assets to inject into trust or do delisting. All other shareholders will be short changed!
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laksaman57 Supreme	20-Dec-2019 19:13        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	My take Consideration = JPY63,167 million + Debt
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Goldfinger Supreme	20-Dec-2019 18:32        Goldfinger About Contact  Quote this Post!
x 0   x 0  Alert Admin	I think we need to wait for the rocket scientists to figure this one out....
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001Zogel Member	20-Dec-2019 18:29        001Zogel About Contact  Quote this Post!
x 0   x 0  Alert Admin	Accordia has always had a poor record when it comes to shareholders. Unlike prior Jap company, this isn't going to end well. 001Zogel      ( Date: 20-Dec-2019 14:47) Posted: Actually, why is everyone in the view that it's good news? ordinaryguy1985      ( Date: 20-Dec-2019 13:35) Posted: Could be Chapter 13 1308
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Skywalker98 Member	20-Dec-2019 18:19        Skywalker98 About Contact  Quote this Post!
x 0   x 0  Alert Admin	I would just wait. Nothing actionable here. Goldfinger      ( Date: 20-Dec-2019 17:14) Posted: This is actually, quite a confusing announcement. Does this amount include or excludes Accordia' s share?  Anyway, at this price, doubt anyone will sell.  It is a non-event.  Wonder why it takes 3 days of trading halt to do this announcement.  But, I guess, the useful relevant info is that Accordia is keen to privatise, and that it would make sense to hold onto this, as the intention is unlikely to change. Life goes on.... deschan      ( Date: 20-Dec-2019 17:10) Posted: Anti-Climax work out to be about 0.71/share
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limahping Senior	20-Dec-2019 18:10        limahping About Contact  Quote this Post!
x 0   x 0  Alert Admin	Business Times report. I cut a small part. The deal, include taking over the debt of the holding company. Any one can check if it swings the price per unit bo? The manager revealed that the non-binding proposal, which was first announced on Nov 28, would see interested party Accordia Golf Co pay 63.2 billion yen (S$783.1 million) for Accordia Golf Trust's interests in all its golf courses and the debt of the holding company. Goldfinger      ( Date: 20-Dec-2019 18:04) Posted: Even the Business Times report was quite vague.  Best they be clearer, else it would be very hard to value this on Monday. limahping      ( Date: 20-Dec-2019 18:03) Posted: Nothing in the sgx says exclude accordia golf share, right? But it does say assume the debt of the trust. It means the offeror will take over the debt of the trust. Right? The trust debt is quite big. So this is the up side?
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Goldfinger Supreme	20-Dec-2019 18:04        Goldfinger About Contact  Quote this Post!
x 0   x 0  Alert Admin	Even the Business Times report was quite vague.  Best they be clearer, else it would be very hard to value this on Monday. limahping      ( Date: 20-Dec-2019 18:03) Posted: Nothing in the sgx says exclude accordia golf share, right? But it does say assume the debt of the trust. It means the offeror will take over the debt of the trust. Right? The trust debt is quite big. So this is the up side? Goldfinger      ( Date: 20-Dec-2019 17:34) Posted: Well, if the amount excludes that owned by Accordia, then it jumps to a much much higher price per share, approaching SGD1??? If so, it would become a lot more attractive. Anyway, it is a very confusing announcement, and I would wait for the experts to weigh in.
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limahping Senior	20-Dec-2019 18:03        limahping About Contact  Quote this Post!
x 0   x 0  Alert Admin	Nothing in the sgx says exclude accordia golf share, right? But it does say assume the debt of the trust. It means the offeror will take over the debt of the trust. Right? The trust debt is quite big. So this is the up side? Goldfinger      ( Date: 20-Dec-2019 17:34) Posted: Well, if the amount excludes that owned by Accordia, then it jumps to a much much higher price per share, approaching SGD1??? If so, it would become a lot more attractive. Anyway, it is a very confusing announcement, and I would wait for the experts to weigh in. onegun      ( Date: 20-Dec-2019 17:27) Posted: How much per share if divide 783 m by the amount owned by non-accordia share holders
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ordinaryguy1985 Member	20-Dec-2019 17:38        ordinaryguy1985 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Share the same thoughts, somehow felt the price has already reflected some insider news on the value. 0.73 5 to 0.71 after EX then to 0.675. Current NAV is 0.67. Still will keep.. best is drop then can accumulate more :) Goldfinger      ( Date: 20-Dec-2019 17:14) Posted: This is actually, quite a confusing announcement. Does this amount include or excludes Accordia' s share?  Anyway, at this price, doubt anyone will sell.  It is a non-event.  Wonder why it takes 3 days of trading halt to do this announcement.  But, I guess, the useful relevant info is that Accordia is keen to privatise, and that it would make sense to hold onto this, as the intention is unlikely to change. Life goes on.... deschan      ( Date: 20-Dec-2019 17:10) Posted: Anti-Climax work out to be about 0.71/share
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Goldfinger Supreme	20-Dec-2019 17:34        Goldfinger About Contact  Quote this Post!
x 0   x 0  Alert Admin	Well, if the amount excludes that owned by Accordia, then it jumps to a much much higher price per share, approaching SGD1??? If so, it would become a lot more attractive. Anyway, it is a very confusing announcement, and I would wait for the experts to weigh in. onegun      ( Date: 20-Dec-2019 17:27) Posted: How much per share if divide 783 m by the amount owned by non-accordia share holders
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onegun Member	20-Dec-2019 17:27        onegun About Contact  Quote this Post!
x 0   x 0  Alert Admin	How much per share if divide 783 m by the amount owned by non-accordia share holders
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Goldfinger Supreme	20-Dec-2019 17:19        Goldfinger About Contact  Quote this Post!
x 0   x 0  Alert Admin	Anyway, if this is below NAV, don' t think anyone will buy.  Wonder why they go to th effort to do this, knowing it will likely fail. killua      ( Date: 20-Dec-2019 17:15) Posted: best to sell on Monday or it will drop drastically
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killua Member	20-Dec-2019 17:15        killua About Contact  Quote this Post!
x 0   x 0  Alert Admin	best to sell on Monday or it will drop drastically
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Goldfinger Supreme	20-Dec-2019 17:14        Goldfinger About Contact  Quote this Post!
x 1   x 0  Alert Admin	This is actually, quite a confusing announcement. Does this amount include or excludes Accordia' s share?  Anyway, at this price, doubt anyone will sell.  It is a non-event.  Wonder why it takes 3 days of trading halt to do this announcement.  But, I guess, the useful relevant info is that Accordia is keen to privatise, and that it would make sense to hold onto this, as the intention is unlikely to change. Life goes on.... deschan      ( Date: 20-Dec-2019 17:10) Posted: Anti-Climax work out to be about 0.71/share
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deschan Senior	20-Dec-2019 17:10        deschan About Contact  Quote this Post!
x 0   x 0  Alert Admin	Anti-Climax work out to be about 0.71/share
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pkli899 Supreme	20-Dec-2019 16:50        pkli899 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Haha...anti-climate. Offer price is equivalent to approximately $783m. mrwise      ( Date: 20-Dec-2019 16:39) Posted: Nothing special....announcement out!
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mrwise Supreme	20-Dec-2019 16:39        mrwise About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	Nothing special....announcement out!
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Starship Supreme	20-Dec-2019 15:45        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	1308 If an issuer is seeking to delist from the Exchange:(1)  an exit offer must be made to the  issuer' s shareholders and holders of any other classes of listed securities to be delisted.  The exit offer must: (a) be fair and reasonable and (b) include a cash alternative as the default alternative and (2) the issuer  must  appoint an independent financial adviser to advise on the exit offer  and the independent financial adviser must opine that the exit offer is fair and reasonable. Amended on  11 July 2019. http://rulebook.sgx.com/net_file_store/new_rulebooks/s/g/SGX_Catalist_Rules_July_11_2019.pdf   ordinaryguy1985      ( Date: 20-Dec-2019 13:35) Posted: Could be Chapter 13 1308
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pkli899 Supreme	20-Dec-2019 15:45        pkli899 About Contact  Quote this Post!
x 0   x 0  Alert Admin	What' s that? Can elaborate. ordinaryguy1985      ( Date: 20-Dec-2019 13:35) Posted: Could be Chapter 13 1308
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Goldfinger Supreme	20-Dec-2019 15:20        Goldfinger About Contact  Quote this Post!
x 0   x 0  Alert Admin	Because this is seen to be an undervalued company with a lot of valuable freehold golf course land, and Japan' s tourism prospects are improving with the impending Tokyo 2020 Olympics and Japan casinos, perhaps?  One never really knows. 001Zogel      ( Date: 20-Dec-2019 14:47) Posted: Actually, why is everyone in the view that it's good news? ordinaryguy1985      ( Date: 20-Dec-2019 13:35) Posted: Could be Chapter 13 1308
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