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newbie19 Supreme	01-Apr-2022 23:13        newbie19 About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	Alamak, cannot tahan u people la, from stocks now compare 财 福 。 Next don't know what🤣 🤣 better      ( Date: 01-Apr-2022 23:03) Posted: Hahaha...you meant you JUST crossed 8 figures....that' s a bit slow. weekaykee      ( Date: 01-Apr-2022 21:38) Posted: Me a sore loser?   I am at complete peace with myself and my life . My nett worth recently crossed into 8 figures. Bulk of it properties based. Stock market just to kill time even though I am making a more than decent profit so far, mainly thanks to SCI. Amusing myself in this thread with all you kiddos
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better Elite	01-Apr-2022 23:03        better About Contact  Quote this Post!
x 0   x 0  Alert Admin	Hahaha...you meant you JUST crossed 8 figures....that' s a bit slow. weekaykee      ( Date: 01-Apr-2022 21:38) Posted: Me a sore loser?   I am at complete peace with myself and my life . My nett worth recently crossed into 8 figures. Bulk of it properties based. Stock market just to kill time even though I am making a more than decent profit so far, mainly thanks to SCI. Amusing myself in this thread with all you kiddos. MANFREDTMK      ( Date: 01-Apr-2022 14:45) Posted: Everyone here already making money except you and you SORE LOSER, still have the audacity to teach us, WINNER, what to do. Beh pai sei, crocodile skin 🐊 🐊 🐊
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MANFREDTMK Master	01-Apr-2022 22:16        MANFREDTMK About Contact  Quote this Post!
x 0   x 0  Alert Admin	This is also found in the report I sent yesterday and repeated by SM again today MANFREDTMK      ( Date: 01-Apr-2022 21:30) Posted: Significant Progress MANFREDTMK      ( Date: 01-Apr-2022 21:23) Posted: 31 Mar 2022 Update on Talks on Potential Combination of Sembcorp Marine and Keppel O&M JOINT PRESS RELEASE Singapore, 31 March 2022 ? Keppel Corporation Limited (?Keppel?) and Sembcorp Marine Ltd (?Sembcorp Marine?) refer to the joint press release on 24 June 2021 (?24 June 2021 Press Release?) announcing the commencement of exclusive negotiations with a view to combining Keppel Offshore & Marine Ltd (?Keppel O&M?) and Sembcorp Marine (?Proposed Combination?). Each of Keppel and Sembcorp Marine wishes to update their respective shareholders that significant progress has been made on advancing the Proposed Combination, including mutual due diligence, the transaction structure, exchange ratio and other related matters. In response to the dramatic changes in the global offshore & marine engineering and energy sectors in recent years, the objective of the Proposed Combination is to create a stronger Combined Entity, leveraging respective strengths to realise synergies and deliver sustainable value over the long term for shareholders. Both parties are devoting considerable resources to progressing the Proposed Combination. However, more time and deliberation will be required to complete due diligence, reach mutual agreement on the transaction terms and finalise definitive legal documentation. Both parties are committed to continue with exclusive negotiations and work towards a definitive agreement by 30 April 2022. Keppel also wishes to update that significant progress has been made on advancing the sale of Keppel O&M?s legacy rigs and associated receivables to a separate company (?Asset Co?) that would be majority owned by external investors. As previously announced, this Asset Co transaction and the Proposed Combination will be inter-conditional and are being pursued concurrently. Each of Keppel and Sembcorp Marine will provide further updates in due course. In the meantime, the companies would like to emphasise that while discussions in relation to the Proposed Combination and the Asset Co transaction are ongoing, there is no guarantee that definitive agreements will be executed. Furthermore, any definitive agreements that the companies may agree upon will also be subject to conditions including relevant regulatory and shareholder approvals. Shareholders of each of Keppel and Sembcorp Marine are advised to exercise caution when dealing with their shares and other securities of the companies as there is no certainty or assurance that the Proposed Combination and/or the Asset Co transaction will be undertaken. Shareholders should consult their professional advisors if they have any doubt about the actions they should take. In this announcement, capitalised terms used, where the context requires, shall have the same meaning ascribed to them in the 24 June 2021 Press Release.
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MANFREDTMK Master	01-Apr-2022 22:12        MANFREDTMK About Contact  Quote this Post!
x 0   x 0  Alert Admin	The greatest Lau Fu Tze of the century. Hahahahaha weekaykee      ( Date: 01-Apr-2022 21:38) Posted: Me a sore loser?   I am at complete peace with myself and my life . My nett worth recently crossed into 8 figures. Bulk of it properties based. Stock market just to kill time even though I am making a more than decent profit so far, mainly thanks to SCI. Amusing myself in this thread with all you kiddos. MANFREDTMK      ( Date: 01-Apr-2022 14:45) Posted: Everyone here already making money except you and you SORE LOSER, still have the audacity to teach us, WINNER, what to do. Beh pai sei, crocodile skin 🐊 🐊 🐊
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PHInsider63 Veteran	01-Apr-2022 21:44        PHInsider63 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Pm me if you wish to meet and I show you my holdings and at what price No point wasting time here I have stated my pov. I may be wrong. weekaykee      ( Date: 01-Apr-2022 21:27) Posted: 20% from bottom and SCM is your best investment ? And I believe we are talking about a few thousands here.?   PHInsider63      ( Date: 01-Apr-2022 13:15) Posted: No problem. I deleted in order not to confuse you. In short, I am glad to be in the money. SM is my best investment this year.
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weekaykee Master	01-Apr-2022 21:38        weekaykee About Contact  Quote this Post!
x 0   x 0  Alert Admin	Me a sore loser?   I am at complete peace with myself and my life . My nett worth recently crossed into 8 figures. Bulk of it properties based. Stock market just to kill time even though I am making a more than decent profit so far, mainly thanks to SCI. Amusing myself in this thread with all you kiddos. MANFREDTMK      ( Date: 01-Apr-2022 14:45) Posted: Everyone here already making money except you and you SORE LOSER, still have the audacity to teach us, WINNER, what to do. Beh pai sei, crocodile skin 🐊 🐊 🐊 MANFREDTMK      ( Date: 01-Apr-2022 14:40) Posted: Don't humiliate yourself anymore. Already very pathetic.
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MANFREDTMK Master	01-Apr-2022 21:30        MANFREDTMK About Contact  Quote this Post!
x 0   x 0  Alert Admin	Significant Progress MANFREDTMK      ( Date: 01-Apr-2022 21:23) Posted: 31 Mar 2022 Update on Talks on Potential Combination of Sembcorp Marine and Keppel O&M JOINT PRESS RELEASE Singapore, 31 March 2022 ? Keppel Corporation Limited (?Keppel?) and Sembcorp Marine Ltd (?Sembcorp Marine?) refer to the joint press release on 24 June 2021 (?24 June 2021 Press Release?) announcing the commencement of exclusive negotiations with a view to combining Keppel Offshore & Marine Ltd (?Keppel O&M?) and Sembcorp Marine (?Proposed Combination?). Each of Keppel and Sembcorp Marine wishes to update their respective shareholders that significant progress has been made on advancing the Proposed Combination, including mutual due diligence, the transaction structure, exchange ratio and other related matters. In response to the dramatic changes in the global offshore & marine engineering and energy sectors in recent years, the objective of the Proposed Combination is to create a stronger Combined Entity, leveraging respective strengths to realise synergies and deliver sustainable value over the long term for shareholders. Both parties are devoting considerable resources to progressing the Proposed Combination. However, more time and deliberation will be required to complete due diligence, reach mutual agreement on the transaction terms and finalise definitive legal documentation. Both parties are committed to continue with exclusive negotiations and work towards a definitive agreement by 30 April 2022. Keppel also wishes to update that significant progress has been made on advancing the sale of Keppel O&M?s legacy rigs and associated receivables to a separate company (?Asset Co?) that would be majority owned by external investors. As previously announced, this Asset Co transaction and the Proposed Combination will be inter-conditional and are being pursued concurrently. Each of Keppel and Sembcorp Marine will provide further updates in due course. In the meantime, the companies would like to emphasise that while discussions in relation to the Proposed Combination and the Asset Co transaction are ongoing, there is no guarantee that definitive agreements will be executed. Furthermore, any definitive agreements that the companies may agree upon will also be subject to conditions including relevant regulatory and shareholder approvals. Shareholders of each of Keppel and Sembcorp Marine are advised to exercise caution when dealing with their shares and other securities of the companies as there is no certainty or assurance that the Proposed Combination and/or the Asset Co transaction will be undertaken. Shareholders should consult their professional advisors if they have any doubt about the actions they should take. In this announcement, capitalised terms used, where the context requires, shall have the same meaning ascribed to them in the 24 June 2021 Press Release.
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weekaykee Master	01-Apr-2022 21:27        weekaykee About Contact  Quote this Post!
x 0   x 0  Alert Admin	20% from bottom and SCM is your best investment ? And I believe we are talking about a few thousands here.?   PHInsider63      ( Date: 01-Apr-2022 13:15) Posted: No problem. I deleted in order not to confuse you. In short, I am glad to be in the money. SM is my best investment this year. weekaykee      ( Date: 01-Apr-2022 13:11) Posted: Sorry, don' t get what you are trying to say. You made lots of profits and would that be 2kk+1k+0.5k and 10kk from earlier investments?. Whats is the difference between " kk" and ' k"
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MANFREDTMK Master	01-Apr-2022 21:23        MANFREDTMK About Contact  Quote this Post!
x 0   x 0  Alert Admin	31 Mar 2022 Update on Talks on Potential Combination of Sembcorp Marine and Keppel O&M JOINT PRESS RELEASE Singapore, 31 March 2022 ? Keppel Corporation Limited (?Keppel?) and Sembcorp Marine Ltd (?Sembcorp Marine?) refer to the joint press release on 24 June 2021 (?24 June 2021 Press Release?) announcing the commencement of exclusive negotiations with a view to combining Keppel Offshore & Marine Ltd (?Keppel O&M?) and Sembcorp Marine (?Proposed Combination?). Each of Keppel and Sembcorp Marine wishes to update their respective shareholders that significant progress has been made on advancing the Proposed Combination, including mutual due diligence, the transaction structure, exchange ratio and other related matters. In response to the dramatic changes in the global offshore & marine engineering and energy sectors in recent years, the objective of the Proposed Combination is to create a stronger Combined Entity, leveraging respective strengths to realise synergies and deliver sustainable value over the long term for shareholders. Both parties are devoting considerable resources to progressing the Proposed Combination. However, more time and deliberation will be required to complete due diligence, reach mutual agreement on the transaction terms and finalise definitive legal documentation. Both parties are committed to continue with exclusive negotiations and work towards a definitive agreement by 30 April 2022. Keppel also wishes to update that significant progress has been made on advancing the sale of Keppel O&M?s legacy rigs and associated receivables to a separate company (?Asset Co?) that would be majority owned by external investors. As previously announced, this Asset Co transaction and the Proposed Combination will be inter-conditional and are being pursued concurrently. Each of Keppel and Sembcorp Marine will provide further updates in due course. In the meantime, the companies would like to emphasise that while discussions in relation to the Proposed Combination and the Asset Co transaction are ongoing, there is no guarantee that definitive agreements will be executed. Furthermore, any definitive agreements that the companies may agree upon will also be subject to conditions including relevant regulatory and shareholder approvals. Shareholders of each of Keppel and Sembcorp Marine are advised to exercise caution when dealing with their shares and other securities of the companies as there is no certainty or assurance that the Proposed Combination and/or the Asset Co transaction will be undertaken. Shareholders should consult their professional advisors if they have any doubt about the actions they should take. In this announcement, capitalised terms used, where the context requires, shall have the same meaning ascribed to them in the 24 June 2021 Press Release.
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MANFREDTMK Master	01-Apr-2022 20:46        MANFREDTMK About Contact  Quote this Post!
x 0   x 0  Alert Admin	Banks hiving off their insurance arms and legs, property developer hiving off their automobile arms and legs, etc MANFREDTMK      ( Date: 01-Apr-2022 20:39) Posted: Similar to private limited company, subject to shareholders approval, except the bylaws are more stringent for public listed company ahbui8      ( Date: 01-Apr-2022 20:28) Posted: You mean a SH in a listed company can suka suka said I want my 20% of share to exchange and take the asset that I want? and the company number shares just deduct 20% off in SGX market? or the 20% number of shares distributed to the remain 80%. Not ridiculous?
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MANFREDTMK Master	01-Apr-2022 20:39        MANFREDTMK About Contact  Quote this Post!
x 0   x 0  Alert Admin	Similar to private limited company, subject to shareholders approval, except the bylaws are more stringent for public listed company ahbui8      ( Date: 01-Apr-2022 20:28) Posted: You mean a SH in a listed company can suka suka said I want my 20% of share to exchange and take the asset that I want? and the company number shares just deduct 20% off in SGX market? or the 20% number of shares distributed to the remain 80%. Not ridiculous?  MANFREDTMK      ( Date: 01-Apr-2022 20:11) Posted: Nothing wrong with a listed company to hive off its toxic assets and use the proceed to pare down its excessive debts. In fact this option is better to the company instead of distributing to shareholders which is good for the share price only in the short term
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ahbui8 Master	01-Apr-2022 20:28        ahbui8 About Contact  Quote this Post!
x 0   x 0  Alert Admin	You mean a SH in a listed company can suka suka said I want my 20% of share to exchange and take the asset that I want? and the company number shares just deduct 20% off in SGX market? or the 20% number of shares distributed to the remain 80%. Not ridiculous?  MANFREDTMK      ( Date: 01-Apr-2022 20:11) Posted: Nothing wrong with a listed company to hive off its toxic assets and use the proceed to pare down its excessive debts. In fact this option is better to the company instead of distributing to shareholders which is good for the share price only in the short term ahbui8      ( Date: 01-Apr-2022 20:01) Posted: Pardon me for saying  the option one is totally ridiculous. Keppel is a listed company not a pte ltd company
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MANFREDTMK Master	01-Apr-2022 20:11        MANFREDTMK About Contact  Quote this Post!
x 0   x 0  Alert Admin	Nothing wrong with a listed company to hive off its toxic assets and use the proceed to pare down its excessive debts. In fact this option is better to the company instead of distributing to shareholders which is good for the share price only in the short term ahbui8      ( Date: 01-Apr-2022 20:01) Posted: Pardon me for saying  the option one is totally ridiculous. Keppel is a listed company not a pte ltd company. MANFREDTMK      ( Date: 01-Apr-2022 19:38) Posted: Yes, MGO is based on the highest price TH paid over the last six months prior to the MGO, which is 8 cents at this point in time. Of course TH could offer more if she wants. Next, based on BETTER info, if option one is chosen, TH will ended up owning 70% of SM after the deal and NEWCO is not necessary. That's how I read it
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ahbui8 Master	01-Apr-2022 20:01        ahbui8 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Pardon me for saying  the option one is totally ridiculous. Keppel is a listed company not a pte ltd company. MANFREDTMK      ( Date: 01-Apr-2022 19:38) Posted: Yes, MGO is based on the highest price TH paid over the last six months prior to the MGO, which is 8 cents at this point in time. Of course TH could offer more if she wants. Next, based on BETTER info, if option one is chosen, TH will ended up owning 70% of SM after the deal and NEWCO is not necessary. That's how I read it ahbui8      ( Date: 01-Apr-2022 19:07) Posted: Bth both side, Keppel side expect 70:30 while SM side expect 67:33 😂 It' s clearly stated it' s will be 50:50 JV so it' s will be this way just like the MGO offer stated if really got MGO is at 8cts and is really happened offer at 8cts.
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MANFREDTMK Master	01-Apr-2022 19:53        MANFREDTMK About Contact  Quote this Post!
x 0   x 0  Alert Admin	If it's indeed 50:50, this implies SM is value at 25% discount. This is terrible MANFREDTMK      ( Date: 01-Apr-2022 19:38) Posted: Yes, MGO is based on the highest price TH paid over the last six months prior to the MGO, which is 8 cents at this point in time. Of course TH could offer more if she wants. Next, based on BETTER info, if option one is chosen, TH will ended up owning 70% of SM after the deal and NEWCO is not necessary. That's how I read it ahbui8      ( Date: 01-Apr-2022 19:07) Posted: Bth both side, Keppel side expect 70:30 while SM side expect 67:33 😂 It' s clearly stated it' s will be 50:50 JV so it' s will be this way just like the MGO offer stated if really got MGO is at 8cts and is really happened offer at 8cts.
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MANFREDTMK Master	01-Apr-2022 19:38        MANFREDTMK About Contact  Quote this Post!
x 0   x 0  Alert Admin	Yes, MGO is based on the highest price TH paid over the last six months prior to the MGO, which is 8 cents at this point in time. Of course TH could offer more if she wants. Next, based on BETTER info, if option one is chosen, TH will ended up owning 70% of SM after the deal and NEWCO is not necessary. That's how I read it ahbui8      ( Date: 01-Apr-2022 19:07) Posted: Bth both side, Keppel side expect 70:30 while SM side expect 67:33 😂 It' s clearly stated it' s will be 50:50 JV so it' s will be this way just like the MGO offer stated if really got MGO is at 8cts and is really happened offer at 8cts.   PHInsider63      ( Date: 01-Apr-2022 18:41) Posted: Thanks for the book values info. The numbers are impt. Based on my understanding and prior knowledge in doing merger, albeit at smaller scale, the following should happen. As stated and reiterated by the latest announcement, a Common Entity will be formed (or a Newco). Based on book value of: KOM 2b SM 4b A plain vanilla merger model will be 66.7% (SM) and 33.3% (KOM). Which means Newco will be formed by 66.7% of SM shh and 33.3% of KC shh in which (as mentioned) KC will decide and intend to distribute to their shareholders. If this happens, Temasek holding will be: 36.67% + 6.66% (20% original KC shares diluted accordingly) = 43.33% KC shareholders may get a special dividends from sales proceeds of junk rigs from Asset CO (as mentioned in the announcement will be an external party). So, assuming my stake is 15m shares, my shares will be folded to 10m shares. But with an enlarged CE, this will be a new landmark chapter. Now if this happens, the price will be determined at existing book value of SM at 0.12. And the price needs to move up during this month. Note. This is based on a plain Vanilla model. Of course M&A of this scale will be far more complex. No matter what, KC and SM shh, all of us should have a truce because this will be a good news for all. Both parties will benefit. I expect small dividend from SM prior to merger on the region of 0.005 or $160 m. Temasek will get $88m. On the other hand, KC rid the problematic KOM and also stand to obtain dividends from sale of junk rigs to Asset co and shares of CE
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PHInsider63 Veteran	01-Apr-2022 19:11        PHInsider63 About Contact  Quote this Post!
x 0   x 0  Alert Admin	I am not a party privy to the deal. Sorry missed out your point. 70:30 will be a deal breaker. Temasek will not allow it. No basis for that ratio However let s wait for Q1 review which will shed some light About the ratio. I suspect many factors for the delay but not appropriate to list them here. Will see. Getting more exciting now. ahbui8      ( Date: 01-Apr-2022 19:07) Posted: Bth both side, Keppel side expect 70:30 while SM side expect 67:33 😂 It' s clearly stated it' s will be 50:50 JV so it' s will be this way just like the MGO offer stated if really got MGO is at 8cts and is really happened offer at 8cts.   PHInsider63      ( Date: 01-Apr-2022 18:41) Posted: Thanks for the book values info. The numbers are impt. Based on my understanding and prior knowledge in doing merger, albeit at smaller scale, the following should happen. As stated and reiterated by the latest announcement, a Common Entity will be formed (or a Newco). Based on book value of: KOM 2b SM 4b A plain vanilla merger model will be 66.7% (SM) and 33.3% (KOM). Which means Newco will be formed by 66.7% of SM shh and 33.3% of KC shh in which (as mentioned) KC will decide and intend to distribute to their shareholders. If this happens, Temasek holding will be: 36.67% + 6.66% (20% original KC shares diluted accordingly) = 43.33% KC shareholders may get a special dividends from sales proceeds of junk rigs from Asset CO (as mentioned in the announcement will be an external party). So, assuming my stake is 15m shares, my shares will be folded to 10m shares. But with an enlarged CE, this will be a new landmark chapter. Now if this happens, the price will be determined at existing book value of SM at 0.12. And the price needs to move up during this month. Note. This is based on a plain Vanilla model. Of course M&A of this scale will be far more complex. No matter what, KC and SM shh, all of us should have a truce because this will be a good news for all. Both parties will benefit. I expect small dividend from SM prior to merger on the region of 0.005 or $160 m. Temasek will get $88m. On the other hand, KC rid the problematic KOM and also stand to obtain dividends from sale of junk rigs to Asset co and shares of CE
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PHInsider63 Veteran	01-Apr-2022 19:09        PHInsider63 About Contact  Quote this Post!
x 0   x 0  Alert Admin	SM price should move to between 0.12 to 0.14 this month prior to merger. Not sure about this but if the deal is real it has to move. Else it will be a textbook merger. Will see.
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ahbui8 Master	01-Apr-2022 19:07        ahbui8 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Bth both side, Keppel side expect 70:30 while SM side expect 67:33 😂 It' s clearly stated it' s will be 50:50 JV so it' s will be this way just like the MGO offer stated if really got MGO is at 8cts and is really happened offer at 8cts.   PHInsider63      ( Date: 01-Apr-2022 18:41) Posted: Thanks for the book values info. The numbers are impt. Based on my understanding and prior knowledge in doing merger, albeit at smaller scale, the following should happen. As stated and reiterated by the latest announcement, a Common Entity will be formed (or a Newco). Based on book value of: KOM 2b SM 4b A plain vanilla merger model will be 66.7% (SM) and 33.3% (KOM). Which means Newco will be formed by 66.7% of SM shh and 33.3% of KC shh in which (as mentioned) KC will decide and intend to distribute to their shareholders. If this happens, Temasek holding will be: 36.67% + 6.66% (20% original KC shares diluted accordingly) = 43.33% KC shareholders may get a special dividends from sales proceeds of junk rigs from Asset CO (as mentioned in the announcement will be an external party). So, assuming my stake is 15m shares, my shares will be folded to 10m shares. But with an enlarged CE, this will be a new landmark chapter. Now if this happens, the price will be determined at existing book value of SM at 0.12. And the price needs to move up during this month. Note. This is based on a plain Vanilla model. Of course M&A of this scale will be far more complex. No matter what, KC and SM shh, all of us should have a truce because this will be a good news for all. Both parties will benefit. I expect small dividend from SM prior to merger on the region of 0.005 or $160 m. Temasek will get $88m. On the other hand, KC rid the problematic KOM and also stand to obtain dividends from sale of junk rigs to Asset co and shares of CE. better      ( Date: 01-Apr-2022 17:29) Posted: Notes about the merger: The negotiation of the merger terms is between Temasek and Keppel corp. Temasek is the majority shareholders (55%) of SCM and obviously KC owns Keppel OM. Temasek in turn owns 20% of KC.  If I am Temasek, there are 2 possible routes. First, Temasek can offer to give up their 20% KC shares to take over Keppel OM and then merge it with SCM at book value. Book value for Keppel OM (excluding cash holding) is about $2billion. SCM' s book value is about $4billion. In this case, Temasek will own 70% of SCM. This would be a non-cash transaction. The second route is for Temasek to first offer to buy SCM shares that they do not already own in say 2 yrs time at 20 cents. As a majority shareholder, Temasek would not want to dilute its SCM shareholding by issuing excessive new SCM shares to KC. A future takeover offer similar to the one they made to KC 3 yrs ago would peg the exchange rate (SCM' s share price) at 20 cents and also allow KC to claim that they have sold Keppel OM at book value and not below. In this case, only about 10 billion new SCM shares need to be issued. Temasek can also offer to buy 5 billion new SCM shares at 20 cents, thus giving SCM $1 billion in cash to provide additional liquidity to SCM for continuing Keppel OM' s existing projects given that Keppel OM is going to be merged into SCM without any cash. I suspect about $1+ billion of the $3+ billion cash in KC' s book is currently used for Keppel OM' s running capital. KC also has $4+billion associated debt that is due this year. Although they do have the overdraft facilities to fund it, tapping their overdraft will incur a relatively high interest rate. The shares that KC receives will then be distributed to their shareholders which Temasek will receive 20%. Based on the above scenario, Temasek will own 52+% of SCM after merger. Keppel OM' s unsold rigs/ legacy asset of about $3.2 billion will go into the asset co. and probably Temasek and other related investors will buy about 80% of it at maybe 10-20% discount off their book value.
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PHInsider63 Veteran	01-Apr-2022 18:47        PHInsider63 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Yes. Better is real good in the facts and I have a bit corporate knowledge here. Better May be right. At 43% of enlarged share capital in Newco, Temasek May make another MGO later. Not sure but not impossible depending on the macro and micro performance of the company. This deal is real good. A win win. Both KC and SM will have to move. Let s wait for report. chiachiawee      ( Date: 01-Apr-2022 18:44) Posted: Wow. I learned something here. That' s how a forum should serve the information-sharing purpose. Thanks for the presentation. cheers. PHInsider63      ( Date: 01-Apr-2022 18:41) Posted: Thanks for the book values info. The numbers are impt. Based on my understanding and prior knowledge in doing merger, albeit at smaller scale, the following should happen. As stated and reiterated by the latest announcement, a Common Entity will be formed (or a Newco). Based on book value of: KOM 2b SM 4b A plain vanilla merger model will be 66.7% (SM) and 33.3% (KOM). Which means Newco will be formed by 66.7% of SM shh and 33.3% of KC shh in which (as mentioned) KC will decide and intend to distribute to their shareholders. If this happens, Temasek holding will be: 36.67% + 6.66% (20% original KC shares diluted accordingly) = 43.33% KC shareholders may get a special dividends from sales proceeds of junk rigs from Asset CO (as mentioned in the announcement will be an external party). So, assuming my stake is 15m shares, my shares will be folded to 10m shares. But with an enlarged CE, this will be a new landmark chapter. Now if this happens, the price will be determined at existing book value of SM at 0.12. And the price needs to move up during this month. Note. This is based on a plain Vanilla model. Of course M&A of this scale will be far more complex. No matter what, KC and SM shh, all of us should have a truce because this will be a good news for all. Both parties will benefit. I expect small dividend from SM prior to merger on the region of 0.005 or $160 m. Temasek will get $88m. On the other hand, KC rid the problematic KOM and also stand to obtain dividends from sale of junk rigs to Asset co and shares of CE
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