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pasttime Supreme	02-Aug-2021 22:11        pasttime About Contact  Quote this Post!   Yells: "gold silver are real money. not others iou."
x 0   x 0  Alert Admin	this event shows that it is an adavantage to have good family. in trouble one can have bail out.
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PhillipTan Supreme	02-Aug-2021 21:17        PhillipTan About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	Landmark S$3.4b deal paves way for SPH restructuring, enlarges Keppel' s footprint The S$3.4 billion deal announced by two of Singapore' s most established companies, Keppel Corp and Singapore Press Holdings (SPH), would allow the former to grow its asset base and earnings. Meanwhile, SPH shareholders would also have an incentive to vote through the proposed restructuring of its media business. The proposed scheme of arrangement - contingent on SPH first obtaining shareholder approval to transfer its media assets to a company limited by guarantee (CLG) - would result in SPH delisting and becoming a wholly-owned subsidiary of Keppel. Keppel' s share of the deal is S$2.2 billion, to be satisfied with S$1.08 billion in cash and the remainder in units of Keppel Reit. This works out to a cash consideration of S$0.668 and 0.596 Keppel Reit units (valued at S$0.715) per share. Meanwhile, shareholders will also receive 0.782 SPH Reit units (valued at S$0.716) per share from a distribution in specie by SPH, amounting to a total value of S$1.2 billion. SPH shareholders will hence receive a total consideration of S$2.099 per share - implying an 11.6 per cent premium over SPH' s last close of S$1.88 - and roughly equal to the net asset value of SPH post the media business restructuring. Keppel CEO Loh Chin Hua said on Monday that SPH represents a " rare and attractive opportunity" for Keppel to acquire a quality platform that is not only financially attractive, but also strongly aligned with and complementary to Keppel' s business model and capabilities. For SPH, meanwhile, the deal represents a potential sweetener in favour of the media restructuring. In May, SPH had announced a plan to carve out its media business amid the ongoing challenge of falling advertising revenue. The plan included a provision of funding for the media business, which includes The Business Times. Shareholders are expected to vote on this plan at an extraordinary general meeting (EGM) expected to be convened in August or September this year. SPH chief executive Ng Yat Chung said that having the offer from Keppel on the table would be helpful to persuade shareholders to vote for the proposed restructuring of the CLG. Having an offer on the table with a " specific value" will help shareholders with their decision-making, he added. " If they do vote for the restructuring of the media business, then it' s an opportunity to take advantage of this privatisation offer by Keppel," Mr Ng said. The proposed media restructuring releases SPH from shareholding restrictions under the Newspaper and Printing Presses Act (NPPA), and increases the strategic options available to SPH. Various strategic options for SPH were reviewed, including maintaining the status quo, monetisation of certain assets, a partial sale, or privatisation of SPH post-media restructuring, according to SPH in a press statement. More than 20 bidders had approached SPH with various proposals, SPH chief financial officer Chua Hwee Song said, and Keppel was selected because it delivered the highest value for shareholders, and was superior across all criteria. In response to queries on SPH chairman Lee Boon Yang' s role in the proposed deal, given that he had served as Keppel' s chairman from 2009 to 2021, Mr Ng said Dr Lee had recused himself from any decision-making or discussions relating to the details of the deal. David Gerald, president of Securities Investors Association Singapore (Sias) noted that the consideration represents a slight discount to SPH' s net asset value, but added that both parties believe this is a win-win solution. Initial responses from analysts appeared positive. Phillip Securities analyst Terence Chua said the acquisition of SPH was not expected, but he noted there are synergies between both companies. " The transaction, if completed, will be earnings accretive to Keppel already," he said. " They will also increase the recurring income base from 51 per cent to 56 per cent post-acquisition, so it' s in line with their strategy to really be asset light and also to have more recurring income to distribute to shareholders" . Meanwhile, Travis Lundy, an analyst at Quiddity Advisors, which publishes on SmartKarma, said: " The consideration gets investors a slightly higher yield than they would have been expecting out of SPH (assuming they reinvest the cash into a yield product)" . The proposed deal is expected to be completed in December this year, and is subject to approval from both Keppel and SPH shareholders at separate scheme meetings. SPH would need 75 per cent of the shareholders present and voting to approve the scheme, while Keppel would require a 50 per cent threshold. Keppel Corp, Keppel Reit, SPH and SPH Reit called for trading halts on Monday morning, before the market opened. All four counters closed higher on Friday. Keppel was up 1.9 per cent or S$0.10 to S$5.49, while Keppel Reit was up 0.8 per cent or S$0.01 to S$1.20. SPH gained 1.1 per cent or S$0.02 to end the week at S$1.88 and SPH Reit rose 0.6 per cent or 0.5 Singapore cents to 91.5 cents.
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Goldfinger Supreme	02-Aug-2021 20:27        Goldfinger About Contact  Quote this Post!
x 0   x 0  Alert Admin	Think I will stay and vote NO and against on both the Keppel and SPH ends. There is nothing to lose, and the floor is already set at $2.10 theoretically.  Who knows that my 1 single NO vote may swing the outcome, and force a higher buy-out price for SPH. ahbui8      ( Date: 02-Aug-2021 17:55) Posted: They already planned and I can said is normally will go through, as a small SH if not happy just get out when the trading halt is lifted, at least it' s won' t be a loss at last traded price. lwk123      ( Date: 02-Aug-2021 17:04) Posted: If it is approved by SGX, how you explain the issue of Keppel offering SPH shareholders units in SPH reit ? No issue with Keppel Reit, Keppel have enough to offer.
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Goldfinger Supreme	02-Aug-2021 20:25        Goldfinger About Contact  Quote this Post!
x 0   x 0  Alert Admin	Actually, if it is a Scheme of Arrangement, I am not so sure.  There is one limb that requires more than 50% approval based on the number of shareholders attending and voting. Lets say 100 shareholders attend - then technically 51 minority retail investors can vote the proposal through or down, irrespective of how many shares they own.  So, if these 51 only own 1 share each, they can also vote the SOA down, right? TA_Expert      ( Date: 02-Aug-2021 20:14) Posted: The deal will go through as TH, SPH and KC have already gotten enough votes.
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TA_Expert Supreme	02-Aug-2021 20:14        TA_Expert About Contact  Quote this Post!   Yells: "The World has changed"
x 0   x 0  Alert Admin	The deal will go through as TH, SPH and KC have already gotten enough votes.
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TA_Expert Supreme	02-Aug-2021 20:13        TA_Expert About Contact  Quote this Post!   Yells: "The World has changed"
x 0   x 1  Alert Admin	No point looking at the past. Look at the long tiem shareholders of SMM who also bought them at $3-4 too. All long term shareholders will lose while the new golden dollar investors will laugh thier ways to the bansk as they have made more than 100%.   john_ric      ( Date: 02-Aug-2021 15:48) Posted: those seniors long-term sph holders ' umbrge' big time. some bought at $4-$6 .
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SgYuan Supreme	02-Aug-2021 20:06        SgYuan About Contact  Quote this Post!
x 0   x 0  Alert Admin	sph day px need to stay above day conversion then w3 194 continue
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ahbui8 Master	02-Aug-2021 17:55        ahbui8 About Contact  Quote this Post!
x 0   x 0  Alert Admin	They already planned and I can said is normally will go through, as a small SH if not happy just get out when the trading halt is lifted, at least it' s won' t be a loss at last traded price. lwk123      ( Date: 02-Aug-2021 17:04) Posted: If it is approved by SGX, how you explain the issue of Keppel offering SPH shareholders units in SPH reit ? No issue with Keppel Reit, Keppel have enough to offer.
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hokpin Supreme	02-Aug-2021 17:41        hokpin About Contact  Quote this Post!
x 0   x 0  Alert Admin	Haha. Creative art ! Starship      ( Date: 02-Aug-2021 17:05) Posted: beng1102      ( Date: 02-Aug-2021 15:35) Posted: Cannot ask.    umbrage then u know
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Starship Supreme	02-Aug-2021 17:31        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	Keppel' s privatisation offer: What an SPH shareholder with 1,000 shares can expect 3 HOURS AGO SINGAPORE - Shareholders of Singapore Press Holdings (SPH) will get an opportunity to realise the value of their shares at a significant premium with  Keppel' s privatisation offer,  said SPH chief executive Ng Yat Chung. Speaking at a briefing on Monday (Aug 2) after the announcement of a $3.4 billion proposed deal to take SPH' s non-media business private, Mr Ng noted that the offer price of $2.099 per share represents a premium of about 40 per cent based on the last trading price before the announcement of SPH' s strategic review on March 30. This means that, if a shareholder has 1,000 SPH shares, he will receive: - $668 in cash - 596 Keppel Reit units valued at $715 and - 782 units of SPH Reit units valued at $716. This makes up a total consideration of $2,099. The illustrative values are based on Friday' s closing share prices. Others: - A final dividend for FY2021, if one is declared and - Going forward, steady dividend yields in the 4 per cent range, based on the historical averages, for SPH Reit and Keppel Reit. SPH Reit has a portfolio of retail properties including Paragon mall in Singapore and Figtree Grove Shopping Centre in Australia. Keppel Reit' s portfolio includes interests in Grade A commercial assets such as Ocean Financial Centre and Marina Bay Financial Centre in Singapore, along with assets in Australia  and South Korea. The proposed privatisation bid can go ahead only if the restructuring of SPH' s media business is completed, shareholders of both SPH and Keppel give the green light, and regulatory approval is obtained. https://www.straitstimes.com/business/companies-markets/keppels-privatisation-offer-what-an-sph-shareholder-with-1000-shares-can
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Starship Supreme	02-Aug-2021 17:20        Starship About Contact  Quote this Post!
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Starship Supreme	02-Aug-2021 17:05        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	beng1102      ( Date: 02-Aug-2021 15:35) Posted: Cannot ask.    umbrage then u know. Starship      ( Date: 02-Aug-2021 15:33) Posted: So, should SPH shareholders ask why the super-brilliant CEO of SPH did not see all these " immediate monetisation opportunitiess??  " What is attractive for us in SPH' s portfolio is that it comprises different assets... some of them could be quite liquid and we can monetise immediately. The timing of the potential monetisation will be quick... quite soon - for example, within the next three years," said Keppel chief executive Loh Chin Hua in a media briefing on Monday. " When I say monetisation, it doesn' t mean that it will all be sold. Of course, the non-core assets could (involve) that. Some (others) could be monetised through asset recycling into a Reit (real estate investment trust) or trust," he continued. For one thing, SPH' s purpose-built student accommodation (PBSA) business, he said, is " ripe for securitisation in quite short order" into private equity funds - or " Reit-able" . SPH is owner, manager and developer of a portfolio of PBSA in the United Kingdom and Germany, and currently operates two distinctive brands, Student Castle and Capitol Students. " Again, this links up nicely with our intention to create more fee income opportunities and participation in valuation upside as we execute our recycling plan," he added
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lwk123 Member	02-Aug-2021 17:04        lwk123 About Contact  Quote this Post!
x 0   x 0  Alert Admin	If it is approved by SGX, how you explain the issue of Keppel offering SPH shareholders units in SPH reit ? No issue with Keppel Reit, Keppel have enough to offer.
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ckmpd1 Supreme	02-Aug-2021 16:48        ckmpd1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Do you think SGX will not approve this proposal? lwk123      ( Date: 02-Aug-2021 16:41) Posted: How can Keppel offer  SPH share holders SPH Reit as part of the deal ? This is like you want to acquire a cash-rich company but do not have enough cash. You are eyeing at the cash holding of the target company to pay the shareholders? Has the proposal been approved by SGX?
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lwk123 Member	02-Aug-2021 16:41        lwk123 About Contact  Quote this Post!
x 0   x 0  Alert Admin	How can Keppel offer  SPH share holders SPH Reit as part of the deal ? This is like you want to acquire a cash-rich company but do not have enough cash. You are eyeing at the cash holding of the target company to pay the shareholders? Has the proposal been approved by SGX?
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Starship Supreme	02-Aug-2021 16:35        Starship About Contact  Quote this Post!
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Starship Supreme	02-Aug-2021 16:20        Starship About Contact  Quote this Post!
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antifragile Senior	02-Aug-2021 16:03        antifragile About Contact  Quote this Post!
x 0   x 0  Alert Admin	Please vote No. The offer price is grossly undervalued SPH and ignore SPH 's huge potential in PBSA, senior living and other investments. If the deal goes on, which listed company will General Ng go? 1) NOL 2) SPH 3) ????
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john_ric Supreme	02-Aug-2021 15:48        john_ric About Contact  Quote this Post!
x 0   x 0  Alert Admin	those seniors long-term sph holders ' umbrge' big time. some bought at $4-$6 .
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ckmpd1 Supreme	02-Aug-2021 15:38        ckmpd1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	SPH SHs are looking at $2.10 soon wehuattogether88      ( Date: 02-Aug-2021 13:05) Posted: The SPH queue price slowly UPing
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