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pkli899 Supreme	09-Aug-2020 12:17        pkli899 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Yes, read properly......the revised offer is not a better one. The reserved sum already said will be returned to us. So that cannot be part of the new offer. Don' t forget the dividend for Apr to conclusion of deal, will be kept by them. They are buying the golf courses only, not the entire Trust. Why they can keep the income generated before completion of deal. This is totally wrong. SGX, as the regulatory authority, is oblige to look into it. Goldfinger      ( Date: 09-Aug-2020 09:09) Posted: Please do the maths and the confiscated dividends. spore1      ( Date: 08-Aug-2020 20:02) Posted: At least slightly better deal! Approximately, 76-78 cents ( inclusive of Special reserve dpu
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pkli899 Supreme	09-Aug-2020 12:08        pkli899 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Whatever being said, most importantly is all vote no! You never know if you don' t try...........that' s the least we can do. All is not lost! Please don' t give up....don' t say no chance when u didn' t try. Remember the evil party cannot vote and by right Daiwa being an interested party also cannot. (They own about 3%) Even with Hibiki & the other Asset Management party total of 10.6% voting for, we still stand a chance. Provided everyone vote NO! Not forgetting, because of interested party deal, 75% for is needed, to pass the deal. The evil must be defeated. SGX must act also.
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vinc3538 Member	09-Aug-2020 11:40        vinc3538 About Contact  Quote this Post!
x 0   x 0  Alert Admin	agree, spore 1 supreme some win some lose.reality of the world as per standard no much fairness especially retail investor. as not in the inner circle.   spore1      ( Date: 09-Aug-2020 10:20) Posted: Times are bad ! m&a happens may benefit some but not for others . RETAIL always last to know.. local auth cant really depend .. Goldfinger      ( Date: 09-Aug-2020 09:09) Posted: Please do the maths and the confiscated dividends
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laksaman57 Supreme	09-Aug-2020 10:43        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Indeed MAS & SGX should investigate because Hibiki has raise doubt about the sale arranagement by tabling resolution item-4 in their proposed egm which require that " That all minutes of the meeting of the Independent Committee shall be disclosed to the Unitholders." https://www.businesswire.com/news/home/20200727005238/en/Hibiki-50-Minority-Unitholders-Accordia-Golf-Trust Goldfinger      ( Date: 09-Aug-2020 09:56) Posted: Have made a healthy profit off this - but it does not mean I do not feel cheated and that this is a raw deal for the minority (except Maybe Hibiki since they are now ok to accept). Frankly MAS and SGX should investigate Accordia Trust and it?s dealings.
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spore1 Supreme	09-Aug-2020 10:20        spore1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Times are bad ! m&a happens may benefit some but not for others . RETAIL always last to know.. local auth cant really depend .. Goldfinger      ( Date: 09-Aug-2020 09:09) Posted: Please do the maths and the confiscated dividends. spore1      ( Date: 08-Aug-2020 20:02) Posted: At least slightly better deal! Approximately, 76-78 cents ( inclusive of Special reserve dpu
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isaac123 Member	09-Aug-2020 10:10        isaac123 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Sorry, I am trying to understand as it is difficult for a layman like me. The final payout of so call 77cents is inclusive of the final distribution of 0.168 cents (assume the same as last quater). In the announcement it says we only get 97%, which means 76 cents actually, right?
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Goldfinger Supreme	09-Aug-2020 09:56        Goldfinger About Contact  Quote this Post!
x 0   x 0  Alert Admin	Have made a healthy profit off this - but it does not mean I do not feel cheated and that this is a raw deal for the minority (except Maybe Hibiki since they are now ok to accept). Frankly MAS and SGX should investigate Accordia Trust and it?s dealings.
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Goldfinger Supreme	09-Aug-2020 09:09        Goldfinger About Contact  Quote this Post!
x 0   x 0  Alert Admin	Please do the maths and the confiscated dividends. spore1      ( Date: 08-Aug-2020 20:02) Posted: At least slightly better deal! Approximately, 76-78 cents ( inclusive of Special reserve dpu
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alickyip Member	09-Aug-2020 07:55        alickyip About Contact  Quote this Post!
x 0   x 0  Alert Admin	The whole thing is an insult to our intelligence !  Let' s forget any activitist fund had ever talked to us. We are back to square one and worse since now it' s about insult of intelligence. It only strengthens our determination to vote it down !
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Starship Supreme	08-Aug-2020 22:33        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	JerryMaple      ( Date: 08-Aug-2020 22:16) Posted: Feel betrayed.. All under their plot. A revised offer that is the same as the first offer.. Agreed by Hibiki that make the most noise ... What does this imply? Kids might also know the reason Starship      ( Date: 08-Aug-2020 19:30) Posted: Our Champion has turned to the Dark Side.  And we' re in danger of being annhilated.............  Accordia Golf ups offer price by 3.4b yen Hibiki to vote in favour of sale SAT, AUG 08, 2020 - 3:18 PM ACCORDIA Golf, the sponsor of mainboard-listed Accordia Golf Trust (AGT), is now willing to fork out 65.2 billion yen (S$848.4 million) to buy over the trust&rsquo s 88 golf courses in Japan. This is an increase of 3.4 billion yen from the original purchase price of 61.8 billion yen announced in June. It comes after AGT&rsquo s largest minority unitholder Hibiki Path Advisors made several attempts to block the sale. Hibiki had  alleged that the price was too low  and said it was going to vote against the proposal unless the price was raised. In a bourse filing late Friday night, the trustee-manager said it has signed a supplemental deed after the sponsor agreed to bump up the price. Further, Hibiki and another unitholder, Santa Lucia Asset Management, have irrevocably undertaken to vote or procure the voting of all the AGT units in which they have an interest in favour of the resolutions to approve the proposed divestment. Hibiki owns a 7.6 per cent stake or 83.6 million units in AGT, while Santa Lucia has an interest of 3.1 per cent or 33.9 million units. They will also comply with certain non-solicitation and no-talk provisions, and withdraw the extraordinary general meeting (EGM) requisition notice by next Tuesday. Last week, Hibiki and more than 50 other minority unitholders had  requested the trustee-manager convene an EGM  on Aug 18 for the proposed divestment. Given the latest offered price, net proceeds from the proposed sale - to be distributed to AGT unitholders via special distributions - will also be higher than initially announced. The trustee-manager now plans to distribute to AGT unitholders at least 59.98 billion yen, which is 92 per cent of the revised consideration and an increase of 3.13 billion yen, within 25 business days of the assignment date. Subject to there being no claims by Accordia Golf by the claim expiry date, the trustee-manager will also distribute to unitholders at least 3.26 billion yen within 25 business days after the claim expiry date. This amount is about 5 per cent of the revised purchase price, and an increase of 170 million yen. If the divestment proceeds and completes, unitholders will only receive the aforementioned special distributions. AGT will not make any distribution for the period from April 1, 2020 to the completion of the deal. Meanwhile, the sponsor&rsquo s new proposed price does not include the sum of 1.2 billion yen set aside by Accordia Golf Asset Godo Kaisha (AGA) as special reserves for operations. AGA has an arrangement with the trustee-manager to acquire and manage the trust' s golf courses. The net amount from these special reserves available for distribution by AGA to the trustee-manager is 954.9 million yen, and the trustee-manager will distribute this amount in full to unitholders. This payment is expected to be made in September, the trustee-manager said on Friday. The minority unitholders had earlier called for the  special reserves to be distributed by Aug 28. The revised price tag of 65.2 billion yen is 4.67 billion yen above the book value of AGT' s economic interests in all of its golf courses as at March 31, 2020. It also translates to an implied consideration of 77.2 Singapore cents per unit. This represents a 36.6 per cent premium to the closing price of 56.5 cents on June 23, a 30.7 per cent premium to the one-month volume weighted average price (VWAP) per unit of 59.1 cents, and a 40.8 per cent premium to the three-month VWAP per unit of 54.8 cents. The 77.2 cent implied purchase consideration is also at a 19.1 per cent premium to AGT&rsquo s adjusted net tangible assets per unit based on the unaudited results for FY19/20, and a 10.9 per cent premium to the trust&rsquo s adjusted net asset value (NAV) per unit. Hibiki had voiced concerns about the original price of 61.8 billion yen, or an implied consideration of 73.2 Singapore cents per unit.  In an open letter in early July, the unitholder argued that the price was too low as the golf courses generate &ldquo significantly attractive cashflow&rdquo for the trust. Hibiki also questioned whether previous impairments to AGT&rsquo s NAV had been more conservative than necessary. Accordia Golf subsequently lashed back at Hibiki, saying it was &ldquo unclear&rdquo how the unitholder reached its position as Hibiki did not provide an opinion from any independent and qualified advisory firm, investment bank or valuer to support its opinion. The sponsor also said then that the agreement to purchase the golf courses  was inked after extensive negotiations  with the trustee-manager&rsquo s independent directors, as well as a wide market testing process involving solicitation of competing proposals from third parties. https://www.businesstimes.com.sg/companies-markets/accordia-golf-ups-offer-price-by-34b-yen-hibiki-to-vote-in-favour-of-sale
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JerryMaple Veteran	08-Aug-2020 22:16        JerryMaple About Contact  Quote this Post!
x 0   x 0  Alert Admin	Feel betrayed.. All under their plot. A revised offer that is the same as the first offer.. Agreed by Hibiki that make the most noise ... What does this imply? Kids might also know the reason Starship      ( Date: 08-Aug-2020 19:30) Posted: Our Champion has turned to the Dark Side.  And we' re in danger of being annhilated.............  Accordia Golf ups offer price by 3.4b yen Hibiki to vote in favour of sale SAT, AUG 08, 2020 - 3:18 PM ACCORDIA Golf, the sponsor of mainboard-listed Accordia Golf Trust (AGT), is now willing to fork out 65.2 billion yen (S$848.4 million) to buy over the trust&rsquo s 88 golf courses in Japan. This is an increase of 3.4 billion yen from the original purchase price of 61.8 billion yen announced in June. It comes after AGT&rsquo s largest minority unitholder Hibiki Path Advisors made several attempts to block the sale. Hibiki had  alleged that the price was too low  and said it was going to vote against the proposal unless the price was raised. In a bourse filing late Friday night, the trustee-manager said it has signed a supplemental deed after the sponsor agreed to bump up the price. Further, Hibiki and another unitholder, Santa Lucia Asset Management, have irrevocably undertaken to vote or procure the voting of all the AGT units in which they have an interest in favour of the resolutions to approve the proposed divestment. Hibiki owns a 7.6 per cent stake or 83.6 million units in AGT, while Santa Lucia has an interest of 3.1 per cent or 33.9 million units. They will also comply with certain non-solicitation and no-talk provisions, and withdraw the extraordinary general meeting (EGM) requisition notice by next Tuesday. Last week, Hibiki and more than 50 other minority unitholders had  requested the trustee-manager convene an EGM  on Aug 18 for the proposed divestment. Given the latest offered price, net proceeds from the proposed sale - to be distributed to AGT unitholders via special distributions - will also be higher than initially announced. The trustee-manager now plans to distribute to AGT unitholders at least 59.98 billion yen, which is 92 per cent of the revised consideration and an increase of 3.13 billion yen, within 25 business days of the assignment date. Subject to there being no claims by Accordia Golf by the claim expiry date, the trustee-manager will also distribute to unitholders at least 3.26 billion yen within 25 business days after the claim expiry date. This amount is about 5 per cent of the revised purchase price, and an increase of 170 million yen. If the divestment proceeds and completes, unitholders will only receive the aforementioned special distributions. AGT will not make any distribution for the period from April 1, 2020 to the completion of the deal. Meanwhile, the sponsor&rsquo s new proposed price does not include the sum of 1.2 billion yen set aside by Accordia Golf Asset Godo Kaisha (AGA) as special reserves for operations. AGA has an arrangement with the trustee-manager to acquire and manage the trust' s golf courses. The net amount from these special reserves available for distribution by AGA to the trustee-manager is 954.9 million yen, and the trustee-manager will distribute this amount in full to unitholders. This payment is expected to be made in September, the trustee-manager said on Friday. The minority unitholders had earlier called for the  special reserves to be distributed by Aug 28. The revised price tag of 65.2 billion yen is 4.67 billion yen above the book value of AGT' s economic interests in all of its golf courses as at March 31, 2020. It also translates to an implied consideration of 77.2 Singapore cents per unit. This represents a 36.6 per cent premium to the closing price of 56.5 cents on June 23, a 30.7 per cent premium to the one-month volume weighted average price (VWAP) per unit of 59.1 cents, and a 40.8 per cent premium to the three-month VWAP per unit of 54.8 cents. The 77.2 cent implied purchase consideration is also at a 19.1 per cent premium to AGT&rsquo s adjusted net tangible assets per unit based on the unaudited results for FY19/20, and a 10.9 per cent premium to the trust&rsquo s adjusted net asset value (NAV) per unit. Hibiki had voiced concerns about the original price of 61.8 billion yen, or an implied consideration of 73.2 Singapore cents per unit.  In an open letter in early July, the unitholder argued that the price was too low as the golf courses generate &ldquo significantly attractive cashflow&rdquo for the trust. Hibiki also questioned whether previous impairments to AGT&rsquo s NAV had been more conservative than necessary. Accordia Golf subsequently lashed back at Hibiki, saying it was &ldquo unclear&rdquo how the unitholder reached its position as Hibiki did not provide an opinion from any independent and qualified advisory firm, investment bank or valuer to support its opinion. The sponsor also said then that the agreement to purchase the golf courses  was inked after extensive negotiations  with the trustee-manager&rsquo s independent directors, as well as a wide market testing process involving solicitation of competing proposals from third parties. https://www.businesstimes.com.sg/companies-markets/accordia-golf-ups-offer-price-by-34b-yen-hibiki-to-vote-in-favour-of-sale
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spore1 Supreme	08-Aug-2020 20:02        spore1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	At least slightly better deal! Approximately, 76-78 cents ( inclusive of Special reserve dpu
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Starship Supreme	08-Aug-2020 19:30        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	Our Champion has turned to the Dark Side.  And we' re in danger of being annhilated.............  Accordia Golf ups offer price by 3.4b yen Hibiki to vote in favour of sale SAT, AUG 08, 2020 - 3:18 PM ACCORDIA Golf, the sponsor of mainboard-listed Accordia Golf Trust (AGT), is now willing to fork out 65.2 billion yen (S$848.4 million) to buy over the trust&rsquo s 88 golf courses in Japan. This is an increase of 3.4 billion yen from the original purchase price of 61.8 billion yen announced in June. It comes after AGT&rsquo s largest minority unitholder Hibiki Path Advisors made several attempts to block the sale. Hibiki had  alleged that the price was too low  and said it was going to vote against the proposal unless the price was raised. In a bourse filing late Friday night, the trustee-manager said it has signed a supplemental deed after the sponsor agreed to bump up the price. Further, Hibiki and another unitholder, Santa Lucia Asset Management, have irrevocably undertaken to vote or procure the voting of all the AGT units in which they have an interest in favour of the resolutions to approve the proposed divestment. Hibiki owns a 7.6 per cent stake or 83.6 million units in AGT, while Santa Lucia has an interest of 3.1 per cent or 33.9 million units. They will also comply with certain non-solicitation and no-talk provisions, and withdraw the extraordinary general meeting (EGM) requisition notice by next Tuesday. Last week, Hibiki and more than 50 other minority unitholders had  requested the trustee-manager convene an EGM  on Aug 18 for the proposed divestment. Given the latest offered price, net proceeds from the proposed sale - to be distributed to AGT unitholders via special distributions - will also be higher than initially announced. The trustee-manager now plans to distribute to AGT unitholders at least 59.98 billion yen, which is 92 per cent of the revised consideration and an increase of 3.13 billion yen, within 25 business days of the assignment date. Subject to there being no claims by Accordia Golf by the claim expiry date, the trustee-manager will also distribute to unitholders at least 3.26 billion yen within 25 business days after the claim expiry date. This amount is about 5 per cent of the revised purchase price, and an increase of 170 million yen. If the divestment proceeds and completes, unitholders will only receive the aforementioned special distributions. AGT will not make any distribution for the period from April 1, 2020 to the completion of the deal. Meanwhile, the sponsor&rsquo s new proposed price does not include the sum of 1.2 billion yen set aside by Accordia Golf Asset Godo Kaisha (AGA) as special reserves for operations. AGA has an arrangement with the trustee-manager to acquire and manage the trust' s golf courses. The net amount from these special reserves available for distribution by AGA to the trustee-manager is 954.9 million yen, and the trustee-manager will distribute this amount in full to unitholders. This payment is expected to be made in September, the trustee-manager said on Friday. The minority unitholders had earlier called for the  special reserves to be distributed by Aug 28. The revised price tag of 65.2 billion yen is 4.67 billion yen above the book value of AGT' s economic interests in all of its golf courses as at March 31, 2020. It also translates to an implied consideration of 77.2 Singapore cents per unit. This represents a 36.6 per cent premium to the closing price of 56.5 cents on June 23, a 30.7 per cent premium to the one-month volume weighted average price (VWAP) per unit of 59.1 cents, and a 40.8 per cent premium to the three-month VWAP per unit of 54.8 cents. The 77.2 cent implied purchase consideration is also at a 19.1 per cent premium to AGT&rsquo s adjusted net tangible assets per unit based on the unaudited results for FY19/20, and a 10.9 per cent premium to the trust&rsquo s adjusted net asset value (NAV) per unit. Hibiki had voiced concerns about the original price of 61.8 billion yen, or an implied consideration of 73.2 Singapore cents per unit.  In an open letter in early July, the unitholder argued that the price was too low as the golf courses generate &ldquo significantly attractive cashflow&rdquo for the trust. Hibiki also questioned whether previous impairments to AGT&rsquo s NAV had been more conservative than necessary. Accordia Golf subsequently lashed back at Hibiki, saying it was &ldquo unclear&rdquo how the unitholder reached its position as Hibiki did not provide an opinion from any independent and qualified advisory firm, investment bank or valuer to support its opinion. The sponsor also said then that the agreement to purchase the golf courses  was inked after extensive negotiations  with the trustee-manager&rsquo s independent directors, as well as a wide market testing process involving solicitation of competing proposals from third parties. https://www.businesstimes.com.sg/companies-markets/accordia-golf-ups-offer-price-by-34b-yen-hibiki-to-vote-in-favour-of-sale
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alickyip Member	08-Aug-2020 17:27        alickyip About Contact  Quote this Post!
x 0   x 0  Alert Admin	SEMARU SHOKKA, JIGOKU NO GUNDAN ! ( APPROACHING SHOCKER , REGIMENT FROM HELL ! ) LET US BE THE REGIMENT FROM HELL,  A BIG SHOCKER,  VOTE NO  !  LET THE PEOPLE WHO THOUGHT WE WERE BORN YESTERDAY FEEL THE FURY OF JIGOKU NO GUNDAN. VOTE NO !
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JerryMaple Veteran	08-Aug-2020 17:26        JerryMaple About Contact  Quote this Post!
x 0   x 0  Alert Admin	Ya those speculators might be eager to sell their shares next week as there is almost certain no revise offer again.Final dividend was not declared as well and the deal was not a guaranteed deal..Now other trust are so badly hit,tbh this is the most resilient trust at the moment..No deal for the cheapo offer. Calmroom      ( Date: 08-Aug-2020 17:19) Posted: This could mean they are also eager (and relieved) to dump their 2019 units on new speculators next week. Add in those who bought recently from $0.645++ and there should be no shortage of units for  this new batch of super brave speculators.    JerryMaple      ( Date: 08-Aug-2020 17:09) Posted: Some bought last year at 0.74-0.76 range..Many speculators expecting a premium above NAV 0.73..see what they offer us now.
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Calmroom Master	08-Aug-2020 17:19        Calmroom About Contact  Quote this Post!
x 0   x 0  Alert Admin	This could mean they are also eager (and relieved) to dump their 2019 units on new speculators next week. Add in those who bought recently from $0.645++ and there should be no shortage of units for  this new batch of super brave speculators.    JerryMaple      ( Date: 08-Aug-2020 17:09) Posted: Some bought last year at 0.74-0.76 range..Many speculators expecting a premium above NAV 0.73..see what they offer us now.. Calmroom      ( Date: 08-Aug-2020 17:04) Posted: If I am not wrong, many speculators got trapped at around $0.69. The real risk is underestimating the power and determination of angry retail investors. So I do feel that speculators could get trapped again a 2nd time, but stuck at much higher prices this time, if the ' NO' vote still wins.
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oldcoconut Senior	08-Aug-2020 17:18        oldcoconut About Contact  Quote this Post!
x 0   x 0  Alert Admin	Gam xia Sir 😊 Calmroom      ( Date: 08-Aug-2020 17:04) Posted: If I am not wrong, many speculators got trapped at around $0.69. The real risk is underestimating the power and determination of angry retail investors. So I do feel that speculators could get trapped again a 2nd time, but stuck at much higher prices this time, if the ' NO' vote still wins.   oldcoconut      ( Date: 08-Aug-2020 15:19) Posted: how do u predict the open prices next Tue will be?up or down?
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JerryMaple Veteran	08-Aug-2020 17:16        JerryMaple About Contact  Quote this Post!
x 0   x 0  Alert Admin	I really dont mind to hold till post covid to see its full potential..Moreover covid doesnt hit on Golf trust investment..We still getting paid with good dividend during covid. Can you imagine post covid and Japan olympic period ?How much this stock value will appreciate? Just vote wisely guys..They just want to flush us out with low ball offer.Don be a cheapo..
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JerryMaple Veteran	08-Aug-2020 17:09        JerryMaple About Contact  Quote this Post!
x 0   x 0  Alert Admin	Some bought last year at 0.74-0.76 range..Many speculators expecting a premium above NAV 0.73..see what they offer us now.. Calmroom      ( Date: 08-Aug-2020 17:04) Posted: If I am not wrong, many speculators got trapped at around $0.69. The real risk is underestimating the power and determination of angry retail investors. So I do feel that speculators could get trapped again a 2nd time, but stuck at much higher prices this time, if the ' NO' vote still wins.   oldcoconut      ( Date: 08-Aug-2020 15:19) Posted: how do u predict the open prices next Tue will be?up or down?
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JerryMaple Veteran	08-Aug-2020 17:04        JerryMaple About Contact  Quote this Post!
x 0   x 0  Alert Admin	Now the revised deal is like a job offer : First job offering: 3K(basic salary)+2K commission=5K monthly Second job offering: 5k basic fixed So the total value is still same 5K monthly..No difference.Very smart but i not stupid la..
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