Great Eastern    Last:15.82    +0.04

Great Eastern Holdings Limited

Thought the article in The Edge was good, including commentary from 3rd largest shareholder

Wong Hong Sun, who is listed as GEH&rsquo s third largest shareholder and whose grandfather was chairman of GEH, is unlikely to accept the offer. He says: &rdquo The offer price is reasonable for OCBC but not for me. I don&rsquo t think buying a stock at half price is reasonable. I plan to hold on to my shares and if the price goes down, below the offer price, I will buy some more GEH shares.&rdquo

https://www.theedgesingapore.com/news/ma/ocbcs-final-offer-2560-geh-not-fair-reasonable-says-ey-advises-shareholders-accept
 

 

They can play big fish eat ikanbilis . This is because they dont believe in Karma.

 

Now they said no increase in offer price : they both hold 89% . .supposed anytime can makan we all. Extend the closing time to 12 Jul y....Game over take it or leave .

ysh2006      ( Date: 14-Jun-2024 14:41) Posted: If crossed 90% don't need to talk so much game over already ! Luckygal      ( Date: 13-Jun-2024 15:30) Posted: Tomorrow is the deadline for IFA report. Very curious what would be their advise.

 

OCBC does not intend to revise the offer price and closing date extended.
Looks like they are confident of securing 90%.
Game over

 

IFA and independent director' s recommendation is out:
Not fair but Reasonable.
Both recommend to Accept.

 

If crossed 90% don't need to talk so much game over already !

Luckygal      ( Date: 13-Jun-2024 15:30) Posted: Tomorrow is the deadline for IFA report. Very curious what would be their advise.

 

SIAS invites shareholders of Great Eastern Holdings to a dialogue session with OCBC' s management on its ongoing voluntary unconditional general offer for shares in Great Eastern it does not own. Management will also explain how shareholders can accept the offer if they choose to do so, as
well as take questions.
For those unable to attend in person, the event will be live streamed. Details on how to access the live stream will be provided upon
registration.​  


https://mailchi.mp/sias/exclusively-for-shareholders-of-great-eastern-holdings-join-us-at-the-hybrid-dialogue-session-with-ocbc-register-now?e=1d8d81f8a7

 

Who appointed the IFA ? Suspect wont be critical..
resigned to our fate ? burn new ipo at multiples of PE.. delisted for a song? no institutional fund to champion?
Sigh?.

 

Tomorrow is the deadline for IFA report. Very curious what would be their advise.

 

Let' s see if the IFA agrees!

rlong8288      ( Date: 11-Jun-2024 15:39) Posted: at current price is still cheap Alignment      ( Date: 11-Jun-2024 15:29) Posted: I would be surprised if the IFA report did not recommend minorities to accept the offer.

 

at current price is still cheap

Alignment      ( Date: 11-Jun-2024 15:29) Posted: I would be surprised if the IFA report did not recommend minorities to accept the offer.

 

I would be surprised if the IFA report did not recommend minorities to accept the offer.

 

time flies, eagerly waiting

Luckygal      ( Date: 11-Jun-2024 10:56) Posted: Counting down - Three more days to IFA report deadline.

 

Counting down - Three more days to IFA report deadline.

 

No surprise.. even notice of compliance audit are also reporting to the company.. dun expect much from these as end of the day our exchange is business friendly to attract more listings here .. but at expense of the retail investors..
Good companies will be delisted for a song or penny?
Dyodd if invest here..

governor      ( Date: 01-Jun-2024 00:48) Posted: Wolf Money(Portfolio update for end May 2024)part 2 long post Appointment of IFA by SGX The action by the independent board to appoint an independent financial adviser during a takeover offer should be scrutinised. The appointment of IFA should be done on the instruction of SGX with the exchange randomly appointing the IFA to the takeover company. Work done by the IFA will be held accountable to the stock exchange only. Continue is the the link. https://lonewolfinvestor.blogspot.com/2024/06/wolf-moneyportfolio-update-for-end-may.html?m=1

 

Anyone has receive the money ? 

 

The Offer Document (OD) is out and here are the links:

https://links.sgx.com/FileOpen/Offer_Document_dated_31_May_2024.ashx?App=Announcement& FileID=805383
https://links.sgx.com/FileOpen/Notification_Letter_dated_31May2024_with_accompanying_leaflet.ashx?App=Announcement& FileID=805387

Important to note that both the current Closing Date of 28 June 2024 at 5.30pm and Offer Price of $25.60 are NOT final and may be extended and revised respectively, depending on the level of acceptance.
Further, 17.5 of OD suggests that GEH shareholders to consider the advice of Independent Directors and their Independent Financial Adviser, which will be out before 14 June 24, before taking any action. 
So, no action required at least till 14 June 2024. Sit tight and monitor the acceptance level.
Vested, dyodd.

 

Wolf Money(Portfolio update for end May 2024)part 2 long post

Appointment of IFA by SGX

The action by the independent board to appoint an independent financial adviser during a takeover offer should be scrutinised. The appointment of IFA should be done on the instruction of SGX with the exchange randomly appointing the IFA to the takeover company. Work done by the IFA will be held accountable to the stock exchange only. Continue is the the link.


https://lonewolfinvestor.blogspot.com/2024/06/wolf-moneyportfolio-update-for-end-may.html?m=1

 

Many controlling shareholders of listed companies do not care about their companies' share prices. In fact some may prefer their share prices are low.

 

how to make best offer when the phenomenon is as below?

Today, it is estimated that of the 600-plus listed companies, less than a third trade above their book values, while, in comparison, more than 90 per cent of the S& P 500 trades above  1  time price/book value (P/BV).

Persistent undervaluation and the absence of meaningful liquidity has seen the delisting of dozens of good-quality companies over the past  10  years, often at sizeable discounts to fair value. This has understandably undermined confidence, prompting investors to  look  elsewhere for better opportunities. https://sias.org.sg/latest-updates/commentary-time-to-make-it-listed-firms-business-to-tackle-undervalued-shares-to-revive-spores-stock-market/