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Market can go up also !
after one year, the stock market price drop, then the revised IFA lower than current and the IFA will give an Fair AND REASONABLE report ??? possible ??? 
Ocbc will have to make another offer after one year if this one fail.
It looks like OCBC is playing strictly by the book. No buy no report/update. So don' t get your hopes up on any price revision since it is already barred from doing so, " except in wholly circumstances" . Take-Over Code 20.2 pp124. Everything now depends on whether:
The enviable reputation and goodwill OCBC, due in no small part to the philanthropy of its founders and their descendants, risk being sullied by this opportunistic and Thucydides (strong vs weak) attempt to swallow GEH up on the cheap, just to save a few million dollars, pocket change for financial giant like OCBC.
Vested, DYODD
- it can garner 90% control
- suspend the stock and
- make an Exit Offer that must be FAIR (IFA min S$28.87) and REASONABLE.
The enviable reputation and goodwill OCBC, due in no small part to the philanthropy of its founders and their descendants, risk being sullied by this opportunistic and Thucydides (strong vs weak) attempt to swallow GEH up on the cheap, just to save a few million dollars, pocket change for financial giant like OCBC.
| Savings Table | No of Shares | % |
| Total Issue | 473,319,069 | 100.00 |
| OCBC | 418,586,759 | 88.44 |
| Concert Parties | 1,080,711 | 0.23 |
| OCBC + Concert Parties | 419,667,470 | 88.67 |
| Number of shares needed to 90% | 6,319,692 | 1.33 |
| Acceptance + Purchase till 20 Jun | 4,115,794 | 0.87 |
| Balance Required to Hit 90% | 2,203,898 | 0.46 |
| Per Share | Savings S$ | |
| Diff Fair and Offer Price (28.87-25.60) | 3.27 | 20,665,393 |
Vested, DYODD
FairShake ( Date: 21-Jun-2024 10:44) Posted:
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Thanks to Godwin low for insightful sharing too. ITs very useful and educational. Much appreciated and I am holding tight on my small Ge shares
| Godwinlow ( Date: 21-Jun-2024 21:15) Posted: |
Domperrier
Thanks for sharing and correction. much appreciated
Thanks for sharing and correction. much appreciated
Bought my shares fairly recently @ S$17.52 in Mar ' 23 & already received 3 dividends that far exceed the risk free rate. A point no one has mentioned is that those who throw in the towel will lose out on the future stream of passive income from this investment, & upend some of our financial goals.
I also own 2 of the Top 5 holders of G.East shares : Sungei Bagan & Kuchai listed across the causeway, the former' s price having already doubled in the past year, so I would like to see an improved offer on 3 counts: as a direct holder of G.East, & an indirect holder via Sungei Bagan & Kuchai!
Also, the previous post mentioned OCBC was over $50 once which is not quite accurate since I have checked the archival records & discovered that it touched a peak of exactly $50 in Jan ' 73 & though it subsequently dropped to below $4, that was when the bank had less than 120 mil shares issued & subsequent to the many bonuses & rights in the last 50 years, the adjusted peak is likely below $6 by now. Ditto for G.Eastern.
Am holding tightly for now.
I also own 2 of the Top 5 holders of G.East shares : Sungei Bagan & Kuchai listed across the causeway, the former' s price having already doubled in the past year, so I would like to see an improved offer on 3 counts: as a direct holder of G.East, & an indirect holder via Sungei Bagan & Kuchai!
Also, the previous post mentioned OCBC was over $50 once which is not quite accurate since I have checked the archival records & discovered that it touched a peak of exactly $50 in Jan ' 73 & though it subsequently dropped to below $4, that was when the bank had less than 120 mil shares issued & subsequent to the many bonuses & rights in the last 50 years, the adjusted peak is likely below $6 by now. Ditto for G.Eastern.
Am holding tightly for now.
Those who wanted to surrender should have done so. This offer will fail for sure. I hold 10k shares. Next offer will be higher definitely .
Today seem no ann their %age it receive for this privatisation?
Just reject this offer from ocbc.
GE from a $50-60 stock in the 70' s - 80' s drop to current level inspite of business expanded, assets increase etc, Is it degrading or upgrading? likewise OCBC , was $50 plus before
Interest point you have raised here and there has been no such local precedent (?).
The Take-Over Code 33.1 Restrictions Following Offers (pp 179) does not seem to apply. Hence, OCBC is free to buy GEH either from the open market or via private treaty, IF the Offer closes with less than 90% stake.
https://www.mas.gov.sg/-/media/mas/resource/sic/the_singapore_code_on_take_overs_and_merger_24-january-2019.pdf
However, OCBC MUST still make the announcement on the lost of public free float the moment its stake crosses 90%. GEH will then be suspended from trading on the SGX-XT.
The Take-Over Code 33.1 Restrictions Following Offers (pp 179) does not seem to apply. Hence, OCBC is free to buy GEH either from the open market or via private treaty, IF the Offer closes with less than 90% stake.
https://www.mas.gov.sg/-/media/mas/resource/sic/the_singapore_code_on_take_overs_and_merger_24-january-2019.pdf
However, OCBC MUST still make the announcement on the lost of public free float the moment its stake crosses 90%. GEH will then be suspended from trading on the SGX-XT.
Wbuffet ( Date: 21-Jun-2024 10:56) Posted:
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Referring to you boomer aragosta. Just in case your eyesight not good
Godwinlow ( Date: 21-Jun-2024 10:52) Posted:
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If OCBC fails to get 90% by offer close date and share price falls, they can buy in the market at this lower price to acheive 90%? If this is the case, the share will be suspended pending what SGX will say.
FairShake ( Date: 21-Jun-2024 10:44) Posted:
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And careful, yours small and fragile, going to crack and burst soon 😂 😂 😂
Godwinlow ( Date: 21-Jun-2024 10:49) Posted:
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And boomer. Stock market is whether you got balls or not. Not about age. Your balls are shrinking until like marble. Like marble the boomer used to play.
Godwinlow ( Date: 21-Jun-2024 10:44) Posted:
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A few important things to note:
1. OCBC is NOT obliged to report daily/latest acceptance level if it DID NOT acquire any GEH share on the open market.
2. On the day OCBC' s stake hit 90%, it MUST make an annoucement on the loss of public free float, regardless of (1)
3. In the event OCBC fails to garner 90% by 12 July, GEH shares will remain listed on the SGX and its price is likely react rather negatively to it thereafter.
Vested. DYODD
1. OCBC is NOT obliged to report daily/latest acceptance level if it DID NOT acquire any GEH share on the open market.
2. On the day OCBC' s stake hit 90%, it MUST make an annoucement on the loss of public free float, regardless of (1)
3. In the event OCBC fails to garner 90% by 12 July, GEH shares will remain listed on the SGX and its price is likely react rather negatively to it thereafter.
Vested. DYODD
FairShake ( Date: 21-Jun-2024 06:30) Posted:
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Boomer, I not like you, hundred shares: mine is thousands share. You scared boomer, eat fish oil already 😂 😂
aragosta ( Date: 21-Jun-2024 10:37) Posted:
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