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Most probably CHR has alot of US$ from its business. So take advantage of strong US$ against S$ to buy a controlling stake of Halcyon.
ysh2006 ( Date: 18-Nov-2022 05:52) Posted:
Why use USD as take over price?
aragosta ( Date: 17-Nov-2022 13:56) Posted:
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Why use USD as take over price?
aragosta ( Date: 17-Nov-2022 13:56) Posted:
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Under rule 11 of Singapore Code of Takeover & Merger, CHR & its related parties are prohibited from dealings(buy/sell) of Haclyon shares during the offer.
aragosta ( Date: 17-Nov-2022 20:22) Posted:
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I also hope the price can stay relevant to that as offered. Somehow it seems off to start off at $0.39. I beg to think BB are trapping shortist knowing they will come banging to the door like today. So once the shortened gotten oversell, they will net them in and the price will rocket from there.
TomRaider ( Date: 17-Nov-2022 16:43) Posted:
Newbite here, but wouldnt it serve a golden plate for CHR when the price is lower now to mop up in the open , rather than as buying the 30% stake as per discussed? Might there be another angle at things?
aragosta ( Date: 17-Nov-2022 16:26) Posted:
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Newbite here, but wouldnt it serve a golden plate for CHR when the price is lower now to mop up in the open , rather than as buying the 30% stake as per discussed? Might there be another angle at things?
aragosta ( Date: 17-Nov-2022 16:26) Posted:
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CHR is buying 36% of Halcyon from Sinochem @ US31,5c.
MGO will become unconditional if CHR obtain 50% of Halcyon.
That is another 14% from the other shareholders (555mshares) as Sinochem has undertaken not to participate in the MGO.
14% x 1595m =223.3m
So Halcyon need abt 223,3m shares acceptance from the MGO from the other sharesholders. If share price stay below 44c, the chance of getting the 50%
will be likely.
Most probably CHR' s buddies could have moved in to purchase shares at price before halt. Dyodd
Dannkh ( Date: 17-Nov-2022 15:38) Posted:
Of course China Hainan Rubber(CHR) can ask his buddies to assist by buying up shares (but not on CHR' s behalf) in the market
at this price or lower and exercise to accept the MGO so that CHR can be a major shareholder of Halcyon.
easywin ( Date: 17-Nov-2022 15:14) Posted:
| Can offeree get their friends or relatives to buy on their behalf with such an attrative price? |
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Of course China Hainan Rubber(CHR) can ask his buddies to assist by buying up shares (but not on CHR' s behalf) in the market
at this price or lower and exercise to accept the MGO so that CHR can be a major shareholder of Halcyon.
easywin ( Date: 17-Nov-2022 15:14) Posted:
| Can offeree get their friends or relatives to buy on their behalf with such an attrative price? |
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Can offeree get their friends or relatives to buy on their behalf with such an attrative price?
By the way, I have already bought 20 lots at average price of 0.3825 this morning. I just asked why nobody push up the price since it is a very good offer too good to miss.
aragosta ( Date: 17-Nov-2022 14:06) Posted:
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This is a national strategic material.
aragosta ( Date: 17-Nov-2022 13:56) Posted:
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Insiders who bought low taking profits. But do agree if you are really to hold, it is worth the risks as the deal will likely go through because it involves 2 reputable chinese entities
easywin ( Date: 17-Nov-2022 13:26) Posted:
As still long way to go, BBs sell down to collect more with lower cost + shortists taking advantage from BBs shortsell first cover later with very good profits same as Golden Energy
wooncs8870 ( Date: 17-Nov-2022 13:19) Posted:
| Since the offer of US31.5 cents is good, why does the price trended lower at 0.375/0.38? |
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As still long way to go, BBs sell down to collect more with lower cost + shortists taking advantage from BBs shortsell first cover later with very good profits same as Golden Energy
wooncs8870 ( Date: 17-Nov-2022 13:19) Posted:
| Since the offer of US31.5 cents is good, why does the price trended lower at 0.375/0.38? |
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Since the offer of US31.5 cents is good, why does the price trended lower at 0.375/0.38?
The deal itself will take months with some govt regulatory approvals needed.
This is just day 1.
Will the MGO paid in S$ or US$? If it is fixed at 44c ($S), then it will be 10% gain. If not, u will be subject to fx risk.
aragosta ( Date: 17-Nov-2022 11:24) Posted:
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Can Hainan Rubber Industry Co., Ltd buy share from open market,to increase the control of the Halcyon Agri?
wooncs8870 ( Date: 17-Nov-2022 10:47) Posted:
SINGAPORE, 17 November 2022 &ndash China Hainan Rubber Industry Co., Ltd (&ldquo Hainan Rubber&rdquo or &ldquo Offeror&rdquo ) announced today that it has entered into a conditional share purchase agreement (&ldquo SPA&rdquo ) with Sinochem International (Overseas) Pte Ltd (&ldquo Sinochem&rdquo ) for the purchase of an aggregate of 574,204,299 ordinary shares (the &ldquo Sale Shares&rdquo , and each a &ldquo Sale Share&rdquo ), representing 36% of the issued and paid-up capital of Halcyon Agri Corporation Limited (&ldquo Halcyon Agri&rdquo , the &ldquo Company&rdquo , and together with its subsidiaries, the &ldquo Group&rdquo ) as at the date of the SPA for an aggregate cash consideration of approximately US$180.9 million, being US$0.315 for each Sale Share (equivalent to approximately S$0.441 for each Sale Share) (&ldquo Share Acquisition&rdquo ). Hainan Rubber further announced a pre-conditional mandatory cash offer (the &ldquo Offer&rdquo ) to acquire all the issued and paid-up ordinary shares (&ldquo Shares&rdquo ) in Halcyon Agri it does not already own at US$0.315 per share in cash (the &ldquo MGO&rdquo ). Pre-Conditions of the MGO The Share Acquisition will result in the Offeror holding more than 30% of the issued and paid-up share capital of the Company, hence triggering an obligation, under the Singapore Code on Takeovers and Mergers (&ldquo Code&rdquo )2 , to make the MGO. The making of the MGO is conditional upon the completion of the Share Acquisition, which shall only take place upon the following conditions being fulfilled: Effective Conditions for SPA to become effective (a) Approval by the board of directors of Hainan Rubber and Sinochem and the SPA having been duly executed by both parties (b) Approval by Hainan Rubber&rsquo s shareholders vide an extraordinary general meeting and (c) Approval by State-owned Assets Supervision and Administration Commission of the State Council of the People&rsquo s Republic of China (&ldquo PRC&rdquo )
The offer of 44 cents is too good to ignore, I will buy some and keep for long term, hopefully can reap good profits. |
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SINGAPORE, 17 November 2022 &ndash China Hainan Rubber Industry Co., Ltd (&ldquo Hainan Rubber&rdquo or &ldquo Offeror&rdquo ) announced today that it has entered into a conditional share purchase agreement (&ldquo SPA&rdquo ) with Sinochem International (Overseas) Pte Ltd (&ldquo Sinochem&rdquo ) for the purchase of an aggregate of 574,204,299 ordinary shares (the &ldquo Sale Shares&rdquo , and each a &ldquo Sale Share&rdquo ), representing 36% of the issued and paid-up capital of Halcyon Agri Corporation Limited (&ldquo Halcyon Agri&rdquo , the &ldquo Company&rdquo , and together with its subsidiaries, the &ldquo Group&rdquo ) as at the date of the SPA for an aggregate cash consideration of approximately US$180.9 million, being US$0.315 for each Sale Share (equivalent to approximately S$0.441 for each Sale Share) (&ldquo Share Acquisition&rdquo ). Hainan Rubber further announced a pre-conditional mandatory cash offer (the &ldquo Offer&rdquo ) to acquire all the issued and paid-up ordinary shares (&ldquo Shares&rdquo ) in Halcyon Agri it does not already own at US$0.315 per share in cash (the &ldquo MGO&rdquo ). Pre-Conditions of the MGO The Share Acquisition will result in the Offeror holding more than 30% of the issued and paid-up share capital of the Company, hence triggering an obligation, under the Singapore Code on Takeovers and Mergers (&ldquo Code&rdquo )2 , to make the MGO. The making of the MGO is conditional upon the completion of the Share Acquisition, which shall only take place upon the following conditions being fulfilled: Effective Conditions for SPA to become effective (a) Approval by the board of directors of Hainan Rubber and Sinochem and the SPA having been duly executed by both parties (b) Approval by Hainan Rubber&rsquo s shareholders vide an extraordinary general meeting and (c) Approval by State-owned Assets Supervision and Administration Commission of the State Council of the People&rsquo s Republic of China (&ldquo PRC&rdquo )
The offer of 44 cents is too good to ignore, I will buy some and keep for long term, hopefully can reap good profits.
Nov 16 (Reuters) - Halcyon Agri Corporation Ltd < HALC.SI> ::ENTERED INTO CONDITIONAL SHARE PURCHASE AGREEMENT WITH SINOCHEM INTERNATIONAL PTE..DEAL FOR PURCHASE OF 574.2 MILLION SHARES IN CAPITAL OF HALCYON AGRI CORP FOR CASH CONSIDERATION OF US$180.9 MILLION.
So the news is not accurate, should be the Hainan Rubber Industry Co,, Ltd.
Yes... very jialat for those who bought before pandemic...today i let go my holding my average price 0.26. i bought it on year 2021 hold until now.
offer 0.315 USD is only equal to breakeven for those who bought at 0.40 before pandemic... wonder why the sino accept the price for 36%. too bad for long term holder..
Observers ( Date: 17-Nov-2022 10:01) Posted:
| Jialat. Most who bought before pandemic lost money on this? |
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Jialat. Most who bought before pandemic lost money on this?
