Debt restructing by  F& N boss.

Is this another round of volatile in play in the making...?.

Will let mkt best decide how it want it to be...Wish concern players huat huat arhh.

teeth53      ( Date: 23-Apr-2013 17:23) Posted: Look like battle line is drawn...players verses players. This trading period maybe volatile in play, a chance to let go, a chance to shot at, a chance to maintain vested interest by BBs (esp the owner) and a chance for contra player's changing hands. Just sharing my thot n stk/shr trading interest in SJ. F& N Op-8.700 Cls-8.200 -0.800c -8.9% Vol-15,360,000 722,000 8.200 8.220 16,000 Hi-8.720 Lo-7.950

 

Debt restructure is the debt F& N boss loaned to buy.
The basic structure of beverage, property, printing remains intact and is profitable.
The bone you talking about is the spliting of FCL, while the meat remains intact (FCL & Beverage + Printing) at shareholders hands.
As FCL + F& N still belongs to shareholders. It only undermine bondholders.

Overall, value unlocked means profitability to F& N boss and Shareholders.

teeth53      ( Date: 16-Nov-2013 14:41) Posted: Debt restructing by  F& N boss. To go for the bone or to go for the meat, each has it own value?. Meat or bone?, is all up to mkt and how players want it to be. teeth53 - Just  promoting forum  stk /shr trading interest in SJ.

 

Debt restructing by  F& N boss.

To go for the bone or to go for the meat, each has it own value?.

Meat or bone?, is all up to mkt and how players want it to be.

teeth53 - Just  promoting forum  stk /shr trading interest in SJ.

 

FYI: the market only holds % lower than biggest shareholders.
        Majority% still lies in biggest shareholders. 
        If vested players, consist of minor shareholding % battling out, while future value being unlocked is imminent.
        Who will benefit most? 

Do you really think the biggest vested players will battle out, while the potential value and capable people are managing F& N?

teeth53      ( Date: 16-Nov-2013 14:29) Posted: F& N. Between the bone n the meat. Heavily involved vested players is battling out... Mkt n players will decide best for each-self. F& N  Last  [email protected]  -0.01 with volume of 187,000 share changed hands.

 

F& N. Between the bone n the meat.

Heavily involved vested players is battling out...

Mkt n players will decide best for each-self.

F& N  Last  [email protected]  -0.01 with volume of 187,000 share changed hands.

 

Do you think past and present data & value can be comparable?
Do you think 2 FCL + 1 F& N share will be less or more than current price?

teeth53      ( Date: 16-Nov-2013 13:33) Posted: Will Analyst's stories  again call for  " compelling" a fair value and  intrinsic value to hold on to F& N?.  Please do own homework as  mkt n players will decide best for each-self. krisluke      ( Date: 25-Apr-2013 07:27) Posted: STOCK CALL: Fraser & Neave's (F99.SG) share-price decline is likely on a combination of factors, including its removal from key indexes, such as the STI and the MSCI DM, and concerns over plans to restore its free float to above 10%, says Deutsche Bank. It notes ThaiBev (Y92.SG) and TCC Assets, with a combined 90.3% F& N stake, have until July 19 to restore the free float. Longer term, it expects synergies between F& N's consumer and property business and ThaiBev's and TCC's existing operations as well as a possible capital return after the APB divestment yielded S$5.6 billion, or around S$3.89/share, in proceeds, putting F& N in a net cash position. But it views measures to unlock value, return capital and drive synergies as unlikely near-term as management only recently initiated a strategic review. Deutsche Bank notes F& N's correction has taken it to a more than 20% discount to the house's S$11.43 fair value estimate vs its historical average 17% discount. It keeps its Hold call with S$9.72 target while awaiting greater clarity. The stock ends down 4.8% at S$7.81, for a 17.3% week-to-date decline.

 

Will Analyst's stories  again call for  " compelling" a fair value and  intrinsic value to hold on to F& N?. 

Please do own homework as  mkt n players will decide best for each-self.

krisluke      ( Date: 25-Apr-2013 07:27) Posted: STOCK CALL: Fraser & Neave's (F99.SG) share-price decline is likely on a combination of factors, including its removal from key indexes, such as the STI and the MSCI DM, and concerns over plans to restore its free float to above 10%, says Deutsche Bank. It notes ThaiBev (Y92.SG) and TCC Assets, with a combined 90.3% F& N stake, have until July 19 to restore the free float. Longer term, it expects synergies between F& N's consumer and property business and ThaiBev's and TCC's existing operations as well as a possible capital return after the APB divestment yielded S$5.6 billion, or around S$3.89/share, in proceeds, putting F& N in a net cash position. But it views measures to unlock value, return capital and drive synergies as unlikely near-term as management only recently initiated a strategic review. Deutsche Bank notes F& N's correction has taken it to a more than 20% discount to the house's S$11.43 fair value estimate vs its historical average 17% discount. It keeps its Hold call with S$9.72 target while awaiting greater clarity. The stock ends down 4.8% at S$7.81, for a 17.3% week-to-date decline.

 

The biggest beneficial owner got 1st round of collection of $$$, is 2nd round  coming?. leaving only bone.

teeth53 thot - (F& N been strip of all their potential?).

That maybe why, " no big reaction  or strong interest in F& N....."

Tys5115      ( Date: 13-May-2013 21:44) Posted: no big reaction or strong interest in F& N despite the $3.28 payout today ????

 

F& N. Between the bone n the meat.

Heavily involved vested players is battling out...

zeusleo      ( Date: 24-Apr-2013 17:56) Posted: removal of FNN by MSCI therefore fund houses require to sell by today closing. That is the reason you saw the price was whacked badly during matching. Not due to other factors.

 

Between the bone n meat. Once the  meat is delink, left oni the bone? (no meat left).

 

Octavia      ( Date: 13-Nov-2013 08:36) Posted: Would, could, should F& N default? F& N alleged threats of voluntary default will come into focus this week as the company meets shareholders and bondholders to discuss its plans to list its property arm. Bondholders are up in arms over what they feel is a deeply unfair attack on their rights, while minority shareholders wonder what all of this actually means for the business.

 

One of the biggest shareholder,    Charoen, is just restructuring its debts due to paid at $9.50 at the price when buying F & N shares.
The issuance of 2 FCL shares per F& N share, is to increase Charoen value & thereby also increasing shareholders value. 
Bondholders resistance will be little of significant as 100% of all shareholders passed meeting of issuing 2 FCL per F& N share.

 

Do you really think BondHolders can determine the future of F& N vs the biggest shareholders?
Think again. F& N shareholders are not easily threatened by bondholders. 

 

They have fixed a meeting with the bondholders 2 weeks later...

tonylim      ( Date: 16-Nov-2013 08:18) Posted: Bond holders against against the change of its debt arrangement.  There will be delay in the listing of its property arms.  This will affect F& N share in the short term until it is resolved. WanSiTong      ( Date: 15-Nov-2013 23:09) Posted: Fraser & Neave ST: as long as 5.7 is support look for 6.06 Trading Central | 2013-11-14 23:42:00 Our preference: as long as 5.7 is support look for 6.06. 5.7 is our pivot point. Our preference: as long as 5.7 is support look for 6.06. Alternative scenario: the downside breakout of 5.7 would call for 5.6 and 5.54. Comment: the RSI is above 50. The MACD is below its signal line and positive. The stock could retrace in the short term. Moreover, the stock is trading above both its 20 and 50 day MA (respectively at 5.76 and 5.63). Fraser & Neave is currently trading near its 52 week high reached at 6.13 on 21/01/13. Suppor

 

Bond holders against against the change of its debt arrangement.  There will be delay in the listing of its property arms.  This will affect F& N share in the short term until it is resolved.

WanSiTong      ( Date: 15-Nov-2013 23:09) Posted: Fraser & Neave ST: as long as 5.7 is support look for 6.06 Trading Central | 2013-11-14 23:42:00 Our preference: as long as 5.7 is support look for 6.06. 5.7 is our pivot point. Our preference: as long as 5.7 is support look for 6.06. Alternative scenario: the downside breakout of 5.7 would call for 5.6 and 5.54. Comment: the RSI is above 50. The MACD is below its signal line and positive. The stock could retrace in the short term. Moreover, the stock is trading above both its 20 and 50 day MA (respectively at 5.76 and 5.63). Fraser & Neave is currently trading near its 52 week high reached at 6.13 on 21/01/13. Suppor

 

 

Singapore beverage and property conglomerate Fraser and Neave Ltd said investors in some of its notes voted against amending the terms of the debt, which would complicate the company's plan to spin off its core property unit.

Holders of notes 5.5 per cent 2016 and 6.0 per cent 2019 voted against the company's proposal to amend terms, after F& N launched a consent solicitation exercise for S$808.25 million (US$647.48 million) of outstanding Singapore dollar bonds to avoid triggering an event of default from the listing of Frasers Centrepoint, the property unit, and to pay down the debt ahead of maturity.

Bondholders of three other series of debt supported the plan, the company said.

F& N said it would consider its options in light of the voting results and make an announcement at an appropriate time.

 

 

Results of meetings of the holders of the outstanding S$108,250,000 5.50 per cent. Notes due 2016 comprised in Series 009 (ISIN: SG7S52942461) (the " Series 009 Notes" ), S$200,000,000 6.00 per cent. Notes due 2019 comprised in Series 010 (ISIN: SG7S69943098) (the " Series 010 Notes" ) and S$50,000,000 2.45 per cent. Notes due 2015 comprised in Series 011 (ISIN: SG7W42958225) (the " Series 011 Notes" and, together with the Series 009 Notes and the Series 010 Notes, the " Notes" ), in each case, issued by F& N Treasury Pte. Ltd. (the " Company" ) pursuant to the S$2,000,000,000 Multicurrency Medium Term Note Programme established on 7 May 2007 and unconditionally and irrevocably guaranteed by Fraser and Neave, Limited (" F& N" )

Reference is made to the announcement made by the Company and F& N on 28 October 2013 in relation to the commencement of the consent solicitation process by the Company in connection with the Notes.

The Company wishes to announce that:

(a) the Extraordinary Resolution tabled at the meeting of the holders of the Series 009 Notes on 14 November 2013 has not been passed

(b) the Extraordinary Resolution tabled at the meeting of the holders of the Series 010 Notes on 14 November 2013 has not been passed and

(c) the Extraordinary Resolution tabled at the meeting of the holders of the Series 011 Notes on 14 November 2013 has been duly passed as an Extraordinary Resolution of the holders of the Series 011 Notes without any amendment.

The Company and F& N will consider their options in light of this result of the voting on the Extraordinary Resolutions in respect of the Series 009 Notes and the Series 010 Notes and will make an announcement at the appropriate time.

 

 

 

Results of meetings of the holders of the outstanding S$220,000,000 2.48 per cent. Bonds due 2016 (ISIN: SG3252968338) (the " 5-Year Bonds" ) and the S$80,000,000 3.15 per cent. Bonds due 2018 (ISIN: SG3253968345) (the " 7-Year Bonds" and, together with the 5-Year Bonds, the " Bonds" ), in each case, issued by F& N Treasury Pte. Ltd. (the " Company" ) and unconditionally and irrevocably guaranteed by Fraser and Neave, Limited (" F& N" )

Reference is made to the announcement made by the Company and F& N on 28 October 2013 in relation to the commencement of the consent solicitation process by the Company in connection with the Bonds.

The Company wishes to announce that the Extraordinary Resolution tabled at the meeting of the holders of the 5-Year Bonds on 14 November 2013 has been duly passed as an Extraordinary Resolution of the holders of the 5-Year Bonds without any amendment.

The Company wishes to announce that the required quorum was not achieved at the meeting of the holders of the 7-Year Bonds on 14 November 2013. Accordingly, the meeting of the holders of the 7-Year Bonds has been adjourned. Subject to finalisation of all relevant arrangements, the meeting is expected to be reconvened for 3.30 p.m. (Singapore time) on 29 November 2013 at Level 2, Alexandra Point, 438 Alexandra Road, Singapore 119958.

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