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Will that person still take up everything@ 2.0039????
HVRRVH ( Date: 15-Jun-2022 19:22) Posted:
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Lol I have never seen anything more ' paper' exercise than this paper exercise. Offering of right issues at 2.0039 which is way above market price and better yet, a certain party already said I will take all the rights if nobody wants. This is defying market logic but see it other way, it is also that someone is saying, ' Look, I say the share price worth $2.0039 and if nobody wants, I take all' . It seems that the whole market is disagreeing with the person. To be err on the side of caution and in case the market is wrong, I think as individual investor we can pick up some share now at current or lower prices.
This is what I posted in the MNACT thread... the 2Q results in September is expected to be very very good... but unfortunately or fortunately, the bulk of the 2Q dpu will be credited to the cleanup distribution..... but for those holding MCT long term it will be win and win
Wow. More than 200 millions done for MNACT, with 149 million throw down at the close.....
That should get the monkey out of MCT ' s back.
MCT closed magnificently at $1,83 after being suppressed for one whole month.
2Q reults for MCT coming in Sep, but now to get the clean up dpus first!
Looking good, hopefully.. 
Thank you, Bro Longxia.
Reassuring cos I' m afraid to hv miss out on any thing.
Thanks again!
Reassuring cos I' m afraid to hv miss out on any thing.
Thanks again!
LongXia ( Date: 01-Jun-2022 13:12) Posted:
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Of course if you don' t have MCT pre merger xD, you don' t get the clean-up distribution aka pre merger prorated dpu. There is also no docs for MCT unit holders
LongXia ( Date: 01-Jun-2022 13:08) Posted:
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Well, if you are talking about MNACT....No, no need to look out for docs.... you just have to look to see if they have credited into your bank account.
By default, the scheme offer is the cash consideration of $1.1949 per share. So you no need to do anything if you are not taking up the scrips offer or partial scrip consideration. You can ignore the docs.
As for the clean-up distribution aka pre-list dpu, they have not determined the exact amount yet.
once it is announced on sgx, just look out if they have credited into your account, for both MNACT and MCT.
estimate is 2 to 2.5 cts for MNACT, 3 to 3.5 for MCT....
By default, the scheme offer is the cash consideration of $1.1949 per share. So you no need to do anything if you are not taking up the scrips offer or partial scrip consideration. You can ignore the docs.
As for the clean-up distribution aka pre-list dpu, they have not determined the exact amount yet.
once it is announced on sgx, just look out if they have credited into your account, for both MNACT and MCT.
estimate is 2 to 2.5 cts for MNACT, 3 to 3.5 for MCT....
cucina ( Date: 01-Jun-2022 12:16) Posted:
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So, if I hold MNAC I just wait for their cash offer in the mail and dont hv to do anything in the meantime n still get the clean up distribution?
I just hv to look out for the docs?
I just hv to look out for the docs?
Thanks all on my query regarding the clean up distribution. So, essentially it is still the distribution that MCT would pay under normal course of business.
it is the size of contributions that matters more then the number of properties.
like hk property contribution is huge. 1 property only
like hk property contribution is huge. 1 property only
PhillipTan ( Date: 30-May-2022 12:23) Posted:
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Of course, this is a merger... Not acquisition
Profits from MNAC up to the point where the merger is approved belongs only to MNAC shareholders
Vice versa for MCT
MNAC will have the last div payout before merger, MCT will have it too
Imagine if you are MCT shareholder and MCT got xxx amount of profits that can be distribuited before merger
And it is not distributed
After merger, a lot of MNAC shareholders became MPACT shareholders, on the same train as MCT shareholders
And the MCT profits before the merger is shared to all MPACT shareholders, will it be fair to those MCT shareholders?
And the MPACT shareholders who were with MNAC previously will get profits from MCT but were not MCT shareholders?
Does this make sense?
Profits from MNAC up to the point where the merger is approved belongs only to MNAC shareholders
Vice versa for MCT
MNAC will have the last div payout before merger, MCT will have it too
Imagine if you are MCT shareholder and MCT got xxx amount of profits that can be distribuited before merger
And it is not distributed
After merger, a lot of MNAC shareholders became MPACT shareholders, on the same train as MCT shareholders
And the MCT profits before the merger is shared to all MPACT shareholders, will it be fair to those MCT shareholders?
And the MPACT shareholders who were with MNAC previously will get profits from MCT but were not MCT shareholders?
Does this make sense?
HVRRVH ( Date: 31-May-2022 21:15) Posted:
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This is what I been saying until my saliva dry....
and besides the potential of MCT going up to its scheme valuation of at least $2.00 by the time of the scheme offer, you would also be entitled to a clean up,dividends from MCT too... also if you take all cash consideration from MNACT side instead of all scrips, you avoid the messy odd lots... so, buy into MCT now since it is still a good price to defray with the MNACT cash payout at $1.1949... when it comes to holes, esp loopholes, the black market uncles are very alert
Uh... MCT got clean up distribution? I just saw it at SGX announcement page. I thought only MNACT has it, how come MCT also have?
Properties in Mainland China - 2
Properties in Hong Kong - 1
Properties in Japan - 9
Properties in South Korea - 1
And as far as I know MCT has zero properties outside of Singapore
(Correct me if I am wrong)
With merger, how much will MCT be affected by China' s lockdown when most of their properties are in Japan and Singapore?
Properties in Hong Kong - 1
Properties in Japan - 9
Properties in South Korea - 1
And as far as I know MCT has zero properties outside of Singapore
(Correct me if I am wrong)
With merger, how much will MCT be affected by China' s lockdown when most of their properties are in Japan and Singapore?
Stocky901 ( Date: 26-May-2022 11:49) Posted:
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\singapore covid-19 openning up confirm. so positive for their singapore asset.
for hk, japan and korean asset also recovering as covid-19 openning up is begging as well.
china remains the last problem. but they also openning up. so in a few months who cares about covid-19 as the daily reports on news got lesser and lesser and almost zero now. those in lime light of health try to have another bite with moneypxx but really world has run out patient and money for these disease lead economic activity in health care sector. immune already to any big money spend.
the current low price maybe more due to big ss need money for the merger. think they should have collected enough bullets for the purpose.
i view this as good long term dividend income opportunity. after the merger, my guess it will float back above $2. since big ss forking out $2+ for each new share issue for the merger. i think they have done their sum not to loose money on it.
dyodd.
for hk, japan and korean asset also recovering as covid-19 openning up is begging as well.
china remains the last problem. but they also openning up. so in a few months who cares about covid-19 as the daily reports on news got lesser and lesser and almost zero now. those in lime light of health try to have another bite with moneypxx but really world has run out patient and money for these disease lead economic activity in health care sector. immune already to any big money spend.
the current low price maybe more due to big ss need money for the merger. think they should have collected enough bullets for the purpose.
i view this as good long term dividend income opportunity. after the merger, my guess it will float back above $2. since big ss forking out $2+ for each new share issue for the merger. i think they have done their sum not to loose money on it.
dyodd.
Covid restrictions in china are still on going. MCT looks bad for the merger. May see 1.70 soon. 🤐
I like the Greater Southern Waterfront project. Thinking long term. This may be a good price to pick up some. It use to trade at 2.54. Granted that past price may not be the future price but seriously, the fundamental of this reit, though changes, I dont think it change for the worse.
China covid lockdown no ending in sight ..all reits linked to China quite jialat. Be careful. 😔
whereru ( Date: 24-May-2022 10:58) Posted:
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Keeps dropping after merger approved!
Why?
Why?
MCT, MNACT unitholders approve merger to create third largest Reit in Singapore
UNITHOLDERS of Mapletree Commercial Trust (MCT) and Mapletree North Asia Commercial Trust (MNACT) have voted in favour of the merger to create one of Asia&rsquo s 10 largest real estate investment trusts (Reits).
The merged entity, to be named Mapletree Pan Asia Commercial Trust (MPACT), will have a theoretical market capitalisation of approximately S$10.5 billion &ndash ranking it among the top 3 Reits listed in Singapore, behind CapitaLand Integrated Commercial Trust (CICT) and Ascendas Reit.
At separate extraordinary general meetings (EGMs) on Monday (May 23), all resolutions to pave the way for the merger were duly passed.
At MCT&rsquo s EGM in the morning, some 91.7 per cent of MCT unitholders voted to approve the merger.
Around the same percentage of votes were also in favour of the proposed allotment and issuance of MCT units to MNACT unitholders as consideration for the merger.
&ldquo We are heartened to receive the approval from MCT unitholders for the merger,&rdquo said Sharon Lim, chief executive officer of the MCT manager. &ldquo Our primary commitment to MCT unitholders remains unchanged &ndash to drive long-term growth and sustainable return.&rdquo
&ldquo The enlarged scale and stronger financial muscles of MPACT will enable us to undertake capital recycling opportunities, take on value-enhancing asset enhancement and development initiatives, and pursue larger acquisitions in Asia&rsquo s key gateway market,&rdquo she added.
At MNACT&rsquo s EGM later in the day, approximately 99.0 per cent of MNACT unitholders were in favour of proposed amendments to the MNACT trust deed. This is to introduce provisions to facilitate the implementation of the trust scheme of arrangement.
At a trust scheme meeting following the EGM, some 86.2 per cent of MNACT unitholders representing 97.7 per cent in value of the units held voted to approve the trust scheme.
&ldquo We are grateful for the strong support and mandate from our unitholders, which is a testament to their confidence in the transformative merger,&rdquo said Cindy Chow, chief executive officer of the MNACT manager.
The approval of the merger from both sets of unitholders comes after the managers of the 2 Mapletree Reits in March offered MNACT unitholders the option to receive the entire scheme consideration of their proposed merger wholly in cash, at S$1.1949 per unit.
The cash-only consideration is the default form of the scheme consideration under the revised trust scheme.
To fund the additional cash requirement of up to S$2.2 billion from the cash-only option, MCT will make a preferential offering of up to 1.09 billion units at S$2.0039 each &ndash which is the same as the scheme issue price of each consideration unit.
Mapletree Investments &ndash a privately held unit of Temasek Holdings and the sponsor of both MCT and MNACT &ndash has provided an undertaking to subscribe up to the full S$2.2 billion in the preferential offering at the issue price.
Under the original proposal of the trust scheme, MNACT unitholders would receive a scheme consideration of S$1.1949 for each MNACT unit held, either in the form of 0.5963 new MCT units at an issue price of S$2.0039 each, or a combination of 0.5009 consideration units and S$0.1912 in cash.
The cash-only option was seen as a way to appease disgruntled unitholders on both sides.
In February, the Securities Investors Association (Singapore), or Sias, questioned the necessity of the proposed merger, given the lack of &ldquo apparent operational synergies" between the 2 Reits.
Activist fund manager Quarz Capital Management had also been vocal in its disagreement of the merger, arguing that the initial terms of the proposed merger undervalued MNACT&rsquo s assets.
Quarz later described the cash-only offer as &ldquo fair&rdquo and &ldquo a win-win for all parties&rdquo .
Post-merger, the MPACT portfolio will comprise 18 commercial assets across 5 Asian markets &ndash Singapore, China, Hong Kong, Japan and South Korea &ndash with total assets under management of S$17.1 billion.
Subject to the necessary approvals and the satisfaction or waiver of all conditions, the effective date of the trust scheme is expected to be in early August. Following this, MNACT will be delisted from the Singapore Exchange in mid August.