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Gonggongtry Member	02-Feb-2017 19:18        Gonggongtry About Contact  Quote this Post!
x 0   x 0  Alert Admin	Keep inside drawer Holland      ( Date: 02-Feb-2017 16:04) Posted: Time for SIAS to get SGX to stop this nonsense
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shadow Veteran	02-Feb-2017 18:36        shadow About Contact  Quote this Post!
x 0   x 0  Alert Admin	Expected leow ,  extend extend  again... then SGX do what ?   Is  it not in the interest of minority shareholders  ? SGX please act  , and please step in to  regulate  ! " As a leading  international regulator, SGX is commited to fair, orderly and transparent markets" ....?????!!!!    And we  as small investors are taken for a ride again......! Extending the date  to no END ! Ridiculous !         shadow      ( Date: 12-Jan-2017 10:08) Posted: what is the interpretation , any expert? From my understanding is that they are opening the Offer extension till 2 Feb to accept the Offer again. The also allow you to withdraw the Offer Acceptance previously submitted within 8 days Thereafter depending on the " final" acceptance level , if above 90% compulsory acquisition.. If no, they reserve the right to reduce the Acceptance condition to a lower level which is more than 50%. In this case they already satisfy the condition which they already have more than 55.6% ! If assuming no one withdrawing as at 29Dec annc, then the acceptance should be 16.3% + 55.6% = they have 71.9% confirmed on hand. How to reduce from its current acceptance holding 71.9% to just above 50%  which means they have to dispose 20%  off to just above  50%+ holding Doesn' t sound right mind to me after so much work to acquire it they decided to hold just 50% at the end. Simply what they mean only they can hold anything above 50% up to 89% if they cannot attain 90% to compulsory acquire  all the remaining shares. Are they trying to cause confusion or panic to small shareholders to throw in towels to them ? What i dislike is that Clause 4.1.. Offer .. such date(s) may be annouced from time to time.... Is SGX reading this, can the rules allow them to keep extending the date  to no END ! Ridiculous ! Is this our world class exchange allowing all the listed co to take advantage of smaller investors interest! SIAS can please  look into this!
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Holland Member	02-Feb-2017 16:04        Holland About Contact  Quote this Post!
x 0   x 0  Alert Admin	Time for SIAS to get SGX to stop this nonsense
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shyeo1223 Master	02-Feb-2017 15:15        shyeo1223 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Neverending extension LOL
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angmohlin Veteran	02-Feb-2017 15:09        angmohlin About Contact  Quote this Post! Style: Combined
x 0   x 0  Alert Admin	The closung date has extended to 16 Feb 2017 5.30 pm.
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sheerluck Supreme	01-Feb-2017 16:09        sheerluck About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Work for your money first then let your money work for you"
x 0   x 0  Alert Admin	Tml closing date for offer.
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razmy3 Member	27-Jan-2017 08:38        razmy3 About Contact  Quote this Post!
x 0   x 0  Alert Admin	..about this Securities Industry Council why are they reducing the acceptance level of 50 instead of 90..could it be someone have some kind of an agenda behind that we do not know of...can be fishy?? shadow      ( Date: 27-Jan-2017 08:26) Posted: SIAS urges Fincantieri to raise bid for Vard' s privatisation http://www.straitstimes.com/business/raise-offer-for-vard-sias-urges-parent-fincantieri
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shadow Veteran	27-Jan-2017 08:31        shadow About Contact  Quote this Post!
x 0   x 0  Alert Admin	THE Securities Investors Association (Singapore), or Sias, said before trading closed on Thursday it has asked Italian shipbuilding group Fincantieri to consider revising its offer to take its Singapore-listed subsidiary private. Sias flagged concerns raised by minority shareholders over Fincantieri' s offer price, which at S$0.24 per share compared unfavourably with Vard' s net asset value per share of S$0.36. At S$0.24, the offer is also priced at a fraction of the S$1.20 per share price Fincantieri paid for to first acquire its majority stake in its Singapore-listed subsidiary, which was then known as STX OSV. Sias noted that although the report from the independent financial adviser, KPMG, has deemed the offer fair and reasonable as it is above the price of the share trading over the past one year, minority shareholders feel there is room for improvement. " Minority shareholders are not happy with the offer they feel the offer came at a time when the share price was improving," Sias said.       Sias also noted concerns raised over the reduction in the threshold from 90 per cent to over 50 per cent to turn Fincantieri' s offer unconditional. SEE ALSO: SIAS urges Fincantieri to raise bid for Vard' s privatisation   Fincantieri in a Jan 13 disclosure declared its offer unconditional after obtaining the required consent from the Securities Industry Council to lower the acceptance level.  But minority shareholders were then extended an eight-day window to withdraw their acceptance on the lowering of the acceptance level. Consequentially, the market was abuzz with talk that many shareholders who had previously tendered their shares may withdraw as the stock was trading above Fincantieri' s offer price. Sias also said minority shareholders have expressed concern over the current debt levels of Vard. In view of the above concerns on the part of Vard' s minority shareholders, Fincantieri' s offer is unlikely to succeed unless the offer price is revised, the investor watchdog said.
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shadow Veteran	27-Jan-2017 08:26        shadow About Contact  Quote this Post!
x 1   x 0  Alert Admin	SIAS urges Fincantieri to raise bid for Vard' s privatisation http://www.straitstimes.com/business/raise-offer-for-vard-sias-urges-parent-fincantieri
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nooovva Member	24-Jan-2017 00:20        nooovva About Contact  Quote this Post!
x 0   x 0  Alert Admin	MVN appears to be an event driven fund. Not your typical value fund.  It must have been holding a substantial position for some time. I would think the buying behaviour above offer price is good for us unless it built its position below the current price. Having said that, doesn' t make sense for it to risk its clients' money now to help Offeror. One point that doesn' t help us is that MVN is now a substantial shareholder and its shareholdings will not be counted as free float. Something to watch.
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investshare Supreme	23-Jan-2017 08:29        investshare About Contact  Quote this Post!
x 0   x 0  Alert Admin	Interesting .. MVN keep buying. They don't appear to want to launch a takeover. Are they for or against privatization?
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katak88 Master	20-Jan-2017 09:42        katak88 About Contact  Quote this Post!
x 0   x 0  Alert Admin	20 Jan 2017 06:05:14 AM VARD HOLDINGS LIMITED Â   Â   VARD HOLDINGS LIMITED Â   General Announcement :: DEALINGS DISCLOSURE Â   Date of transaction : 16 January 2017Â   Name (the " Dealer" ) : MVN Asset Management Limited Relationship with the Company : Shareholder of five (5) per cent. or more of total number of Shares Nature of transaction (Buy/Sell/Exercise) : Buy Number and type of securities : 1,194,100 Shares Percentage of Shares(1) : 0.1012% Price per Share (excluding brokerage commission, clearing fees, stamp duties and goods and services tax) : S$0.2458 Resultant total number of Shares owned or controlled by the Dealer : 59,221,720 Shares Resultant total percentage of Shares owned or controlled by the Dealer(1) : 5.0188%Â   __________________________________ Date of transaction : 17 January 2017 Name (the " Dealer" ) : MVN Asset Management Limited Relationship with the Company : Shareholder of five (5) per cent. or more of the total number of Shares Nature of transaction (Buy/Sell/Exercise) : Buy Number and type of securities : 4,309,700 Shares Percentage of Shares(1) : 0.3652% Price per Share (excluding brokerage commission, clearing fees, stamp duties and goods and services tax) : S$0.245Â   Resultant total number of Shares owned or controlled by the Dealer : 63,531,420 Resultant total percentage of Shares owned or controlled by the Dealer(1) : 5.33840%Â   __________________________________ Date of transaction : 18 January 2017 Name (the " Dealer" ) : MVN Asset Management Limited Relationship with the Company : Shareholder of five (5) per cent. or more of total number of Shares Nature of transaction (Buy/Sell/Exercise) : Buy Number and type of securities : 1,837,800 Shares Percentage of Shares(1) : 0.1557% Price per Share (excluding brokerage commission, clearing fees, stamp duties and goods and services tax) : S$0.245 Resultant total number of Shares owned or controlled by the Dealer : 65,369,220 Resultant total percentage of Shares owned or controlled by the Dealer(1) : 5.5398%Â   __________________________________ Date of transaction : 19 January 2017 Name (the " Dealer" ) : MVN Asset Management Limited Relationship with the Company : Shareholder of five (5) per cent. or more of total number of Shares Nature of transaction (Buy/Sell/Exercise) : Buy Number and type of securities : 162,200 Shares Percentage of Shares(1) : 0.0137% Price per Share (excluding brokerage commission, clearing fees, stamp duties and goods and services tax) : S$0.245 Resultant total number of Shares owned or controlled by the Dealer : 65,531,420 Resultant total percentage of Shares owned or controlled by the Dealer(1) : 5.5535%Â   __________________________________ Â   Â   shadow      ( Date: 18-Jan-2017 20:42) Posted: http://infopub.sgx.com/FileOpen/_eFORM3V2_MVN_VARD_HOLDINGS_sent_18_Jan_2017.ashx?App=Announcement& FileID=436163 Vard substantial shareholder -  MVN Asset Management 5%, looks like this fund increased its holding buying up from open market higher than Offeror price. So does that means they are not satisfied with the current delisting offer ? 5% is quite significant if Fincantieri wants to achieve 90% to compulsory buyout of   the remainder shares to delist it. Looks like fund also  thinks the offer price  is undervalue.
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sheerluck Supreme	19-Jan-2017 23:16        sheerluck About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Work for your money first then let your money work for you"
x 0   x 0  Alert Admin	VARD delivered " Skandi Buzios" , their second PLSV for DOF. sheerluck      ( Date: 07-Jan-2017 08:27) Posted: VARD recently delivered " Newfoundland Victor" a fishing vessel with NVC 374 design to Newfound Resources from Vard Aukra. sheerluck      ( Date: 16-Dec-2016 19:59) Posted: VARD recently delivered " Deep Explorer" .   Just when it is turning around, papa wants to makan it.   I am not going to follow VARD anymore.   I see one time I sad one time........ (Don' t think I can keep that promise though!)
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jahtl62 Member	19-Jan-2017 11:53        jahtl62 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Will only know after 2nd Feb. shadow      ( Date: 18-Jan-2017 22:47) Posted: Is Vard  more or less ' delisting'   a done deal?? If u follow Aztech Group delisting process, all  they need to do is call an EGM simply apply for  an exit Offer  delisting resolution to SGX for approval to delist the co. Once the " minimium acceptance condition" is met which will result in the Offeror holding more than  50% of the Shares, they can take it private anytime  in the  event regardless  whether the final acceptance satisfy the 90% compulsory acquisition rule or not doesn' t matter anymore. (Exit Offer becomes unconditional in all aspect) Then small shareholders left with a choice to accept or not to  accept the Exit Offer. But  most will force to Accept the exit offer  with no choice (by default),  if you choice Not to Accept the Exit Offer then you will be holding on to the shares of Unlisted company which becomes a complication to sell later ! Any expert out there to advise, am I right?
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investshare Supreme	19-Jan-2017 09:56        investshare About Contact  Quote this Post!
x 0   x 0  Alert Admin	I think if liquidity less than 10%, company will have to delist. It excludes ssh. So if major shareholder own 85%, another fund own 5%. Company will delist. So must check the intent of the new ssh. For some funds, they invest in non listed companies. lazycat88      ( Date: 19-Jan-2017 00:28) Posted: I do not think that is correct.  They can only do that if they get 90% of shares that they do not currently own.  shadow      ( Date: 18-Jan-2017 23:08) Posted: In current  suitation if they fail to meet & achieve 90% compulsory acquisition condition (which i think quite difficult for them till 2 Feb), probably the  will go for the  process  Exit Offer as i explained below if they originally intention stated is to take it private.
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chongpin Senior	19-Jan-2017 09:50        chongpin About Contact  Quote this Post! Style: Combined
x 0   x 0  Alert Admin	MVN Asset Management Limited had just annoounced in SGX website that it became substantial shareholder (crossed 5% shareholdings) in Vard Holdings after purchased   1,194,100 share from open market for S$293,510 (at abt $0.2458/shs) on 16 Jan 2017. Â
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lazycat88 Member	19-Jan-2017 00:28        lazycat88 About Contact  Quote this Post!
x 0   x 0  Alert Admin	I do not think that is correct.  They can only do that if they get 90% of shares that they do not currently own.  shadow      ( Date: 18-Jan-2017 23:08) Posted: In current  suitation if they fail to meet & achieve 90% compulsory acquisition condition (which i think quite difficult for them till 2 Feb), probably the  will go for the  process  Exit Offer as i explained below if they originally intention stated is to take it private.   lazycat88      ( Date: 18-Jan-2017 22:55) Posted: It is not that easy to delist a SGX listed company!
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shadow Veteran	18-Jan-2017 23:08        shadow About Contact  Quote this Post!
x 0   x 0  Alert Admin	In current  suitation if they fail to meet & achieve 90% compulsory acquisition condition (which i think quite difficult for them till 2 Feb), probably the  will go for the  process  Exit Offer as i explained below if they originally intention stated is to take it private.   lazycat88      ( Date: 18-Jan-2017 22:55) Posted: It is not that easy to delist a SGX listed company! shadow      ( Date: 18-Jan-2017 22:47) Posted: Is Vard  more or less ' delisting'   a done deal?? If u follow Aztech Group delisting process, all  they need to do is call an EGM simply apply for  an exit Offer  delisting resolution to SGX for approval to delist the co. Once the " minimium acceptance condition" is met which will result in the Offeror holding more than  50% of the Shares, they can take it private anytime  in the  event regardless  whether the final acceptance satisfy the 90% compulsory acquisition rule or not doesn' t matter anymore. (Exit Offer becomes unconditional in all aspect) Then small shareholders left with a choice to accept or not to  accept the Exit Offer. But  most will force to Accept the exit offer  with no choice (by default),  if you choice Not to Accept the Exit Offer then you will be holding on to the shares of Unlisted company which becomes a complication to sell later ! Any expert out there to advise, am I right?
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lazycat88 Member	18-Jan-2017 22:55        lazycat88 About Contact  Quote this Post!
x 0   x 0  Alert Admin	It is not that easy to delist a SGX listed company! shadow      ( Date: 18-Jan-2017 22:47) Posted: Is Vard  more or less ' delisting'   a done deal?? If u follow Aztech Group delisting process, all  they need to do is call an EGM simply apply for  an exit Offer  delisting resolution to SGX for approval to delist the co. Once the " minimium acceptance condition" is met which will result in the Offeror holding more than  50% of the Shares, they can take it private anytime  in the  event regardless  whether the final acceptance satisfy the 90% compulsory acquisition rule or not doesn' t matter anymore. (Exit Offer becomes unconditional in all aspect) Then small shareholders left with a choice to accept or not to  accept the Exit Offer. But  most will force to Accept the exit offer  with no choice (by default),  if you choice Not to Accept the Exit Offer then you will be holding on to the shares of Unlisted company which becomes a complication to sell later ! Any expert out there to advise, am I right?
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shadow Veteran	18-Jan-2017 22:47        shadow About Contact  Quote this Post!
x 0   x 0  Alert Admin	Is Vard  more or less ' delisting'   a done deal?? If u follow Aztech Group delisting process, all  they need to do is call an EGM simply apply for  an exit Offer  delisting resolution to SGX for approval to delist the co. Once the " minimium acceptance condition" is met which will result in the Offeror holding more than  50% of the Shares, they can take it private anytime  in the  event regardless  whether the final acceptance satisfy the 90% compulsory acquisition rule or not doesn' t matter anymore. (Exit Offer becomes unconditional in all aspect) Then small shareholders left with a choice to accept or not to  accept the Exit Offer. But  most will force to Accept the exit offer  with no choice (by default),  if you choice Not to Accept the Exit Offer then you will be holding on to the shares of Unlisted company which becomes a complication to sell later ! Any expert out there to advise, am I right?
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