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Sporeguy ( Date: 10-May-2012 23:47) Posted:
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UIC's share price of $2.76 = 87% of its NAV $3.16 bcos of 2 big shareholders quietly fighting for control.
In contrast WT's offer price is only $1.39 = 55% of NAV of $2.51 bcos only 1 big shareholder. The partial offer is let the Cheng bros to increase their shares to slightly about 50% to ward off any opponents. Hope someone will challenge them for control so that the share price will move nearer to its NAV.
banchinf1 ( Date: 10-May-2012 22:44) Posted:
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Dear Sporeguy
Can elabolate more simple?will market price reach $1.39?
Repost due to not totally comptible with SGX attachments.
Net asset value per ordinary share based on issued share capital excluding treasury
shares (S$) 2.51as at 31-03-2012.
So partial offer at $1.39 is not attractive to shareholders.
Net asset value per ordinary share based on issued share capital excluding treasury
shares (S$)
So partial offer at $1.39 is not attractive to shareholders.
2.51as at 31-03-2012.Offer Shares.
Shares (other than the Shares held in treasury) not already owned, controlled or
agreed to be acquired by the Offeror and the Cheng Brothers (the "
at the Record Date. As at the date of this Announcement (the
Date
Shares held in treasury and the 326,966,314 Shares already owned, controlled or
agreed to be acquired by the Offeror and the Cheng Brothers, the Offer Shares
comprise 68,082,712 Shares, representing approximately fifteen per cent. (15%) of
453,884,746 Shares (the
Each Relevant Shareholder will be entitled to accept the Partial Offer in respect of
fifteen per cent. (15%) of the Relevant Shares (for example, 150 Shares for every
1,000 Shares) held by him as at the Record Date, fractional entitlements to be
disregarded (the
may accept the Partial Offer in respect of all or any part of his Relevant Percentage
Offer Shares.
Each Relevant Shareholder may, in addition, tender Shares that are in excess of the
number of his Relevant Percentage Offer Shares (the
acceptance under the Partial Offer in the event that any one or more Relevant
Shareholders do not accept their full entitlement of their respective Relevant
Percentage Offer Shares.
Under the terms of the Partial Offer, the Offeror is permitted to acquire only the Offer
Shares and is not permitted to acquire any additional Shares which may be tendered
for acceptance under the Partial Offer. Where the aggregate number of the Shares
accepted and the Excess Shares tendered by the Relevant Shareholders exceeds
the number of the Offer Shares, the Excess Shares tendered will be accepted up to
the number of Offer Shares on a pro-rata basis (but in a manner which minimises the
number of new odd-lot shareholdings as the Offeror may in its absolute discretion
deem fit in the interest of the Offeror), provided that the Partial Offer becomes
unconditional in all respects from such acceptance.
(c)
Share (the
Ascend Capital Limited (the " Offeror" ) intends to acquire 15.0% of the issued shares (" Shares" ) in Wing Tai Holdings Limited (the " Company" ), other than the Shares held in treasury and those already owned, controlled or agreed to be acquired by the Offeror and the Cheng Brothers (the " Partial Offer" )
The Partial Offer is NOT a privatisation exercise and the Companys listing status on the SGX-ST will be maintained
The offer price of S$1.39 per Share (" Offer Price" ) represents a premium of
o 18.3% over S$1.175, being the last transacted price quoted on the last trading day prior to the date of announcement of the Partial Offer (the " Offer Announcement Date" ) (the " Last Trading Day" ), and
o 14.3%, 9.6% and 21.5% over the volume weighted average price (" VWAP" ) for the one-month, three-month and six-month periods, respectively, up to and including the Last Trading Day
seems like there are 2 possibilities:
1)a take over is imminent?
2)QE3 by USA will open floodgate of $$ into Sg via high end properties purchases?
:)