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Yeah, don' t give in and surrender your shares. This is poor form from OCBC. With a takeover that has been so many years in the making, they could have given a final good offer and be done with it. Instead, now, they are in limbo with egg on their face because they thought minority shareholders are theirs to makan. What a s***show.
Thank you Mrbear12. Take care!
MrBear12 ( Date: 25-Jun-2024 14:11) Posted:
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Take care, you have been most helpful in the face of opposition from gangsters on this thread May God truly be with you! Fare thee well Godwin
Godwinlow ( Date: 25-Jun-2024 13:56) Posted:
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Anyway guys I will be off from great eastern forum. All the relevant information is posted on this forum. I will move on and focus to other stocks. 👋
if the ah gua come again. Help me question why his balls went small even though he knew many gangsters. I 2 times called him out. But he MIA.
take care guys
if the ah gua come again. Help me question why his balls went small even though he knew many gangsters. I 2 times called him out. But he MIA.
take care guys
Basically means
1) make money
2) lose money, as relists mean low valuations back again
1) make money
2) lose money, as relists mean low valuations back again
Godwinlow ( Date: 25-Jun-2024 12:03) Posted:
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Thanks Godwin,
That will be a dilution of existing Shareholders, isn't it?
That will be a dilution of existing Shareholders, isn't it?
Godwinlow ( Date: 25-Jun-2024 12:12) Posted:
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https://www.theedgesingapore.com/news/ma/great-easterns-free-float-falls-below-10-it-may-need-restore-free-float
MrBear12 ( Date: 25-Jun-2024 12:08) Posted:
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Relist GEH with Ocbc holding 90 plus percent shares?
Godwinlow ( Date: 25-Jun-2024 12:03) Posted:
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There are basically 2 ways OCBC can take
1) give a fair and reasonable offer
2) relist GEH.
balls are still in OCBC hands. They have to weight their options which is better.
1) give a fair and reasonable offer
2) relist GEH.
balls are still in OCBC hands. They have to weight their options which is better.
Hopefully there is still rule of law in sgx?
Has been a jungle out there ?
Stay hopeful?
Has been a jungle out there ?
Stay hopeful?
You are so right.
Don' t let this set as a precedent for future privatisations eg Wing Tai, Ho Bee,Frasers Property, HONG FOK!
Don' t let this set as a precedent for future privatisations eg Wing Tai, Ho Bee,Frasers Property, HONG FOK!
ihatebigbully ( Date: 25-Jun-2024 09:32) Posted:
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Good that you did not sellthem to OCBC.
OCBC even though ganna the 90% point, but cannot compulsory acquired the remaining shares without going through the FAIR offer exerise before they could apply for Compulsory Aquisition process.
SIngpaore is very legal abidding country and SGX is being govered by their own rules. No amount to influence could change the SGX rules.
I am holding on to GEH shares not because i Am full of cash but I am holding on because of the my principle that i believe in -- we should not kow tow to the bullies
OCBC even though ganna the 90% point, but cannot compulsory acquired the remaining shares without going through the FAIR offer exerise before they could apply for Compulsory Aquisition process.
SIngpaore is very legal abidding country and SGX is being govered by their own rules. No amount to influence could change the SGX rules.
I am holding on to GEH shares not because i Am full of cash but I am holding on because of the my principle that i believe in -- we should not kow tow to the bullies
domperrier ( Date: 25-Jun-2024 09:21) Posted:
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I sold half my stake slightly above their offer to lock in a 46% capital gain in 15 months not including dividends that more than cover all transaction costs. Don' t want to risk locking up too much capital for a few dollars per share extra profit as there are many better super-undervalued stocks out there in Japan, US & even locally to deploy investment dollars.
At least I didn' t sell to OCBC.
At least I didn' t sell to OCBC.
OCBC garners over 90% of Great Eastern&rsquo s shares trading in insurer to suspend at close of offer
As the number of the insurer&rsquo s shares held by the public is now below 10%, the counter will be suspended from trading after the offer closes on Jul 12
OCBC : O39 +1.06%and concert parties have garnered 90.16 per cent of the shares in Great Eastern : G07 +0.35%, the bank announced on Monday (Jun 24). However, no delisting is in sight as the lender&rsquo s offer for its insurance subsidiary has been deemed not fair but reasonable.
As the number of Great Eastern shares held by the public has now dipped below the 10 per cent threshold, the counter will be suspended from trading after OCBC&rsquo s offer closes on Jul 12.
On May 10, OCBC made a voluntary unconditional general offer of S$1.4 billion for the remaining 11.56 per cent stake in Great Eastern that it did not already own, with the aim to delist its insurance arm.
The offer price of S$25.60 per share represents a 36.9 per cent premium over Great Eastern&rsquo s last traded price of S$18.70 before the offer announcement. It is, however, at a 30 per cent discount to the insurer&rsquo s embedded value per share of S$36.59 as at Dec 31, 2023.
Frontline regulator Singapore Exchange Regulation requires companies seeking to delist to provide their shareholders with an exit offer that is both fair and reasonable.
But the independent financial adviser (IFA) to the privatisation bid has determined that OCBC&rsquo s offer is not fair but reasonable. Still, the IFA recommended that minority shareholders accept the offer because no other general offer will be capable of turning unconditional or succeeding, given the bank&rsquo s shareholding in the insurer.
The IFA also noted the risk of a trading suspension, as OCBC needs only 1.56 per cent of total shares before Great Eastern loses its minimum free float of 10 per cent.
After the recommendation was put out, OCBC announced that its offer price was final and that it does not intend to increase it.
The lender&rsquo s offer came after a group minority shareholders went public about their concerns over Great Eastern&rsquo s depressed share price and continued valuation decline.
Not sure what your &ldquo compulsory acquired&rdquo means. My understanding is you can&rsquo t compulsorily acquire those units that are not accepting the offer. GEH is an long established business with good share of the insurance market. It pays good dividend with long term growth prospect. Very few companies can match this, which is why I think OCBC is holding on to it and taking it over.
Vested, DYODD
MrBear12 ( Date: 24-Jun-2024 19:18) Posted:
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Very soon after offer end 12 July share may suspended....game over already...
MrBear12 ( Date: 24-Jun-2024 19:18) Posted:
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https://www.businesstimes.com.sg/companies-markets/banking-finance/ocbc-garners-over-90-great-easterns-shares-trading-insurer-suspend-close-offer
First step towards delisting. Suspension.
Time to offload or accept.
Unless u want to hold on to a soon to be totally illiquid share.
First step towards delisting. Suspension.
Time to offload or accept.
Unless u want to hold on to a soon to be totally illiquid share.
Minimal impact. Market has largely priced in a delisting. Market players can only shout unfair. But what kind of takeovers are fair? Investors are only doing what we call a special pleading. After all, corporate takeovers are unfair. Why should it not be so in ge's case? i.e. why should it be fair in ge's case?
If 90.16%, Great Eastern share counter will be suspended because the free float is less than 10%. But it still won't be delisted. Then what will the impact on ocbc shares?
90.16%