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laksaman57 Supreme	29-Jun-2020 16:41        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	It' s already beyond explanation. The buyer Accordia Golf and the Trust mgr intent and maneuver is pretty obvious. Best strategy is to generate as much publicity of shareholder discontent and pray hard for other interested parties. pkli899      ( Date: 29-Jun-2020 16:23) Posted: I was about to raise this......really need them to explain. Treat us like idiot......the more I digest the announcement.....the more I' m angry. Starship      ( Date: 29-Jun-2020 16:19) Posted: Remember in Dec they offered JPY$63,167 Million. Now they offering JPY$61,800 Million. New offer is lower by JPY$1367 Million. So they deducted the latest JPY$1200 Million special dividend and more?
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JerryMaple Veteran	29-Jun-2020 16:39        JerryMaple About Contact  Quote this Post!
x 0   x 0  Alert Admin	Before non binder offer, the price is already at 60cents. Then they offer 71cents.. Do they feel shy? Lol..
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laksaman57 Supreme	29-Jun-2020 16:31        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	The greater publicity generated about unitholder discontent with the sale price from Accordia Golf, the better the chance of interested parties taking notice and encourage to show interest publicly. laksaman57      ( Date: 29-Jun-2020 16:21) Posted: Now that the purchase price is out, hopefully other interested parties will publicly show interest and help trigger a stop in the sale process to Accordia Golf. Then a serious bid war can begin.
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pkli899 Supreme	29-Jun-2020 16:23        pkli899 About Contact  Quote this Post!
x 0   x 0  Alert Admin	I was about to raise this......really need them to explain. Treat us like idiot......the more I digest the announcement.....the more I' m angry. Starship      ( Date: 29-Jun-2020 16:19) Posted: Remember in Dec they offered JPY$63,167 Million. Now they offering JPY$61,800 Million. New offer is lower by JPY$1367 Million. So they deducted the latest JPY$1200 Million special dividend and more?
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laksaman57 Supreme	29-Jun-2020 16:21        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Now that the purchase price is out, hopefully other interested parties will publicly show interest and help trigger a stop in the sale process to Accordia Golf. Then a serious bid war can begin.
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Starship Supreme	29-Jun-2020 16:19        Starship About Contact  Quote this Post!
x 1   x 0  Alert Admin	Remember in Dec they offered JPY$63,167 Million. Now they offering JPY$61,800 Million. New offer is lower by JPY$1367 Million. So they deducted the latest JPY$1200 Million special dividend and more?
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Starship Supreme	29-Jun-2020 15:52        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	Starship      ( Date: 29-Jun-2020 15:49) Posted: Hoping for a China company to join the bidding war. Then list in HKEX.    HKEX CEO had recently announced it wants to have a whole range of different REITS and Trusts to offer dividend investors more options and diversity. Goldfinger      ( Date: 29-Jun-2020 15:43) Posted: Ask this stupid selfish Accordia sponsor to bugger off and do not disturb.  They can sell to someone else with a lowball valuation if they so pleases.  So many things like holding back the special reserves is so sneaky.    Try and bluff poor SG retail - where got any honour for a Jap???!!!
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Starship Supreme	29-Jun-2020 15:49        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	Hoping for a China company to join the bidding war. Then list in HKEX.    HKEX CEO had recently announced it wants to have a whole range of different REITS and Trusts to offer dividend investors more options and diversity. Goldfinger      ( Date: 29-Jun-2020 15:43) Posted: Ask this stupid selfish Accordia sponsor to bugger off and do not disturb.  They can sell to someone else with a lowball valuation if they so pleases.  So many things like holding back the special reserves is so sneaky.    Try and bluff poor SG retail - where got any honour for a Jap???!!!
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Starship Supreme	29-Jun-2020 15:46        Starship About Contact  Quote this Post!
x 1   x 0  Alert Admin	Instead of voting tfor the deal, instead all Vote to Fire the Trust Manager!!!!!    chengwh1      ( Date: 29-Jun-2020 14:10) Posted: They will do their best to drag the EGM so that their related parties can scoop up more units on the cheap to strengthen their voting position. If we don' t sell,... we will continue to eat their dividends,... MInority unitholders must be made aware of this. 90% has been committed that will be paid out.
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Goldfinger Supreme	29-Jun-2020 15:43        Goldfinger About Contact  Quote this Post!
x 0   x 0  Alert Admin	Ask this stupid selfish Accordia sponsor to bugger off and do not disturb.  They can sell to someone else with a lowball valuation if they so pleases.  So many things like holding back the special reserves is so sneaky.    Try and bluff poor SG retail - where got any honour for a Jap???!!!
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pkli899 Supreme	29-Jun-2020 14:44        pkli899 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Ya, no reason at all not to lift the halt. chengwh1      ( Date: 29-Jun-2020 14:25) Posted: I think what we have done here has some good results,... the Level Price now is at 70c,... Number of Sells below 70c is 30% or less below the Number of Buys above 70c. They can' t wait too long,... at most,... by 8.57 am tomorrow morning, must start,....
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Starship Supreme	29-Jun-2020 14:31        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	And we all know land prices appreciate in land-scarce Japan.  Esp Freehold Land. Yet they' re telling us their land has been depreciating every year!!!!      pkli899      ( Date: 29-Jun-2020 13:56) Posted: In their first annual report 2015, NAV was 87 cents based on exchange rate of JYP87.04. Can see valuation dropped so much despite current stronger JYP of 76 - 77. Also mentioned in the report: visible acquisition from Sponsor for strong growth. In the end, 6 years passed, nothing from Sponsor and now they want to take back. Sell at 97 cents, 6 years later, buy back at 73.2 cents......made 23.8 cents as a result. All this is like a scheme!
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chengwh1 Elite	29-Jun-2020 14:25        chengwh1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	I think what we have done here has some good results,... the Level Price now is at 70c,... Number of Sells below 70c is 30% or less below the Number of Buys above 70c. They can' t wait too long,... at most,... by 8.57 am tomorrow morning, must start,....
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chengwh1 Elite	29-Jun-2020 14:20        chengwh1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Wahh,.... tricky,... they' re creating more fear by not lifting the trading halt. Since the annt has been made so early today,... the halt should be lifted by 2pm,... which is not so ! I think the Total Sell Queue in the Mkt Depth is still not satisfactory to them,....
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chengwh1 Elite	29-Jun-2020 14:10        chengwh1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	They will do their best to drag the EGM so that their related parties can scoop up more units on the cheap to strengthen their voting position. If we don' t sell,... we will continue to eat their dividends,... MInority unitholders must be made aware of this. 90% has been committed that will be paid out.
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chengwh1 Elite	29-Jun-2020 14:07        chengwh1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Answering here,... they have already declared that they will not vote. Hence, if their holding is 29% (sorry, did not chk),... then the other 71% holders will cast their votes. Assuming,... Hibiki tirns to their side, 7% will be taken out, which leaves another 64% for the decision. The is an RPT - that' s right,... hence,... we would need, say,... to be safe,.. at least 62% of the current holders to vote NO. laksaman57      ( Date: 29-Jun-2020 12:25) Posted: Will sponsor/trust mgr vote be counted in such transaction ? pkli899      ( Date: 29-Jun-2020 12:14) Posted: Is an interested party deal.......75%.....am I right?
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JoeJordan Member	29-Jun-2020 14:01        JoeJordan About Contact  Quote this Post!
x 0   x 0  Alert Admin	If the company is all doom and gloom like what they painted, why are there institution investors in this Trust, may I asked? Investors didnt complain, why should they bother? pkli899      ( Date: 29-Jun-2020 13:47) Posted: 100% agreed. Starship      ( Date: 29-Jun-2020 13:37) Posted: All companies display the same disgusting pattern. During IPO, they' ll paint dragons and tigers and praise the company sky high nad draw bullish charts of it' s past and future performance. But when it wants to take private, it' ll paint a picture of doom and gloom for the stock. Very despicable!!
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pkli899 Supreme	29-Jun-2020 13:56        pkli899 About Contact  Quote this Post!
x 1   x 0  Alert Admin	In their first annual report 2015, NAV was 87 cents based on exchange rate of JYP87.04. Can see valuation dropped so much despite current stronger JYP of 76 - 77. Also mentioned in the report: visible acquisition from Sponsor for strong growth. In the end, 6 years passed, nothing from Sponsor and now they want to take back. Sell at 97 cents, 6 years later, buy back at 73.2 cents......made 23.8 cents as a result. All this is like a scheme!
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pkli899 Supreme	29-Jun-2020 13:47        pkli899 About Contact  Quote this Post!
x 0   x 0  Alert Admin	100% agreed. Starship      ( Date: 29-Jun-2020 13:37) Posted: All companies display the same disgusting pattern. During IPO, they' ll paint dragons and tigers and praise the company sky high nad draw bullish charts of it' s past and future performance. But when it wants to take private, it' ll paint a picture of doom and gloom for the stock. Very despicable!!! Starship      ( Date: 29-Jun-2020 13:30) Posted: Breaking!!!! Low-ball offer annoounced!!!! Accordia Golf Trust offered S$804.1m by sponsor to divest all its Japan golf courses MON, JUN 29, 2020 - 12:35 PM THE sponsor of Accordia Golf Trust (AGT) has proposed to acquire the trust' s 88 golf courses in  Japan for S$804.1 million, or an implied  purchase consideration of S$0.732 per unit, it said on Monday. The price represents a  premium of 5.1 per cent and 12.9 per cent over AGT' s adjusted net asset value of 58.8 billion yen(S$764.9 million) and adjusted net tangible assets of 54.7 billion yen as at March 31. The price also represents  a premium of 21.8 per cent over the volume-weighted average price of AGT units in the one month prior to and including the closing unit price of S$0.60 on Nov 27, 2019. That was the day before AGT announced that it had received a non-binding proposal to buy over its interests in all of its golf courses. Sponsor Accordia Golf plans to acquire all membership interests in, and assume the debts, of Accordia Golf Asset Godo Kaisha (SPC), the holding company which holds the golf courses. AGT will thus receive the full consideration of S$804.1 million from Accordia Golf and will not need to apply any of this amount towards the repayment of SPC' s debts. AGT said it intends to distribute the net proceeds from the proposed divestment via  special distributions, after setting aside fees and expenses that are expected to comprise 3 per cent of the  S$804.1 million purchase consideration.  It will not be meaningful for AGT to maintain its listing on the Singapore Exchange (SGX) after the asset sale, the trustee-manager noted, as AGT will cease to have any operating business and will be deemed to be a cash trust. As such, the trustee-manager intends to undertake a voluntary winding up of AGT. The proposed acquisition is conditional upon approval from AGT unitholders by Sept 14, at an extraordinary general meeting (EGM) that will be convened in due course. Accordia Golf, which holds 28.85 per cent of all units in AGT and 49 per cent of the shares of the trustee-manager, will abstain from voting on the resolution related to the proposed acquisition at the EGM. CIMB Bank has been appointed the independent financial adviser (IFA) for the purposes of the proposed divestment as an interested-person transaction. The IFA' s opinion will be set out in a circular to be despatched to unitholders in due course. AGT' s independent committee said on Monday that the trust' s trading volume on the SGX has been historically low, so the proposed divestment enables unitholders to realise value for their units now. AGT has not made any acquisitions to drive growth since its listing, they added. While SPC had from time to time evaluated suitable golf course acquisitions, it was difficult for SPC to raise accretive financing to make the acquisitions and consequently, it never  proposed any acquisitions to the  trustee-manager, the independent committee said. " AGT may face further difficulty in obtaining financing for golf course acquisitions (as a result of the Covid-19 outbreak), limiting AGT' s ability to improve its distribution per unit (DPU)," AGT said in a statement. Accordia Golf also noted that AGT' s  historical DPU has fallen over time and its offer to buy out AGT' s golf courses represents an opportunity for unitholders to cash out. https://www.businesstimes.com.sg/companies-markets/accordia-golf-trust-offered-s8041m-by-sponsor-to-divest-all-its-japan-golf-courses
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Starship Supreme	29-Jun-2020 13:37        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	All companies display the same disgusting pattern. During IPO, they' ll paint dragons and tigers and praise the company sky high nad draw bullish charts of it' s past and future performance. But when it wants to take private, it' ll paint a picture of doom and gloom for the stock. Very despicable!!! Starship      ( Date: 29-Jun-2020 13:30) Posted: Breaking!!!! Low-ball offer annoounced!!!! Accordia Golf Trust offered S$804.1m by sponsor to divest all its Japan golf courses MON, JUN 29, 2020 - 12:35 PM THE sponsor of Accordia Golf Trust (AGT) has proposed to acquire the trust' s 88 golf courses in  Japan for S$804.1 million, or an implied  purchase consideration of S$0.732 per unit, it said on Monday. The price represents a  premium of 5.1 per cent and 12.9 per cent over AGT' s adjusted net asset value of 58.8 billion yen(S$764.9 million) and adjusted net tangible assets of 54.7 billion yen as at March 31. The price also represents  a premium of 21.8 per cent over the volume-weighted average price of AGT units in the one month prior to and including the closing unit price of S$0.60 on Nov 27, 2019. That was the day before AGT announced that it had received a non-binding proposal to buy over its interests in all of its golf courses. Sponsor Accordia Golf plans to acquire all membership interests in, and assume the debts, of Accordia Golf Asset Godo Kaisha (SPC), the holding company which holds the golf courses. AGT will thus receive the full consideration of S$804.1 million from Accordia Golf and will not need to apply any of this amount towards the repayment of SPC' s debts. AGT said it intends to distribute the net proceeds from the proposed divestment via  special distributions, after setting aside fees and expenses that are expected to comprise 3 per cent of the  S$804.1 million purchase consideration.  It will not be meaningful for AGT to maintain its listing on the Singapore Exchange (SGX) after the asset sale, the trustee-manager noted, as AGT will cease to have any operating business and will be deemed to be a cash trust. As such, the trustee-manager intends to undertake a voluntary winding up of AGT. The proposed acquisition is conditional upon approval from AGT unitholders by Sept 14, at an extraordinary general meeting (EGM) that will be convened in due course. Accordia Golf, which holds 28.85 per cent of all units in AGT and 49 per cent of the shares of the trustee-manager, will abstain from voting on the resolution related to the proposed acquisition at the EGM. CIMB Bank has been appointed the independent financial adviser (IFA) for the purposes of the proposed divestment as an interested-person transaction. The IFA' s opinion will be set out in a circular to be despatched to unitholders in due course. AGT' s independent committee said on Monday that the trust' s trading volume on the SGX has been historically low, so the proposed divestment enables unitholders to realise value for their units now. AGT has not made any acquisitions to drive growth since its listing, they added. While SPC had from time to time evaluated suitable golf course acquisitions, it was difficult for SPC to raise accretive financing to make the acquisitions and consequently, it never  proposed any acquisitions to the  trustee-manager, the independent committee said. " AGT may face further difficulty in obtaining financing for golf course acquisitions (as a result of the Covid-19 outbreak), limiting AGT' s ability to improve its distribution per unit (DPU)," AGT said in a statement. Accordia Golf also noted that AGT' s  historical DPU has fallen over time and its offer to buy out AGT' s golf courses represents an opportunity for unitholders to cash out. https://www.businesstimes.com.sg/companies-markets/accordia-golf-trust-offered-s8041m-by-sponsor-to-divest-all-its-japan-golf-courses
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