(05-06-2013, 12:34 PM)Vseeker Wrote: [ -> ]below potential shooting scripts for anyone attending next AGM... 
""Back in 21-Mar-2013, you paid S$9,992,000 to get into SCHRODER ASIAN ASSET INCOME FUND
forward 2 months: 3-Jun: Getting out for US$7,841,298.42 x 1.2512 = S$9,811,033
so succeeded in LOSING almost s$200,000 !! for a STUPID two-month adventure
pls quit getting into such stupid games and just payout any excess CASHs back to shareholders ""
Yea, for a 1st cut, give $40 mil dividend. Then 2nd one after receive proceeds from Bryton and Grove.
Wondering if change of control clause is a standard clause in SG banks property devt loan.
If there is a change in directorship, would the bank recall the property loans...?? Even though EHL got money to pay.
NEXT MEDIA LIMITED
(Incorporated in Hong Kong with limited liability)
(Stock Code: 00282)
DISCLOSURE
PURSUANT TO RULE 13.18 OF THE LISTING RULES
This announcement is made pursuant to Rule 13.18 of the Rules Governing the Listing of
Securities on The Stock Exchange of Hong Kong Limited (the “Listing Rules”).
The board of directors of Next Media Limited (the “Company”) hereby announces that on 11
June 2013, Apple Daily Limited, an indirect wholly owned subsidiary of the Company, as
borrower confirmed its acceptance of a revolving loan facility of HK$50,000,000 (the
“Facility”) with maturity date falling 12 months from the date of acceptance offered by a
bank (the “Bank”).
Pursuant to the terms of the Facility, Mr. Lai Chee Ying, Jimmy, a controlling shareholder
holding approximately 73.49% of the issued share capital of the Company as at the date
hereof, undertakes to (i) continue to be the chairman of the Company; and (ii) maintain
directly or indirectly at least 51% of the total issued shares in the Company. A breach of the
aforesaid specific performance obligation will constitute an event of default under the
Facility. Upon occurrence of an event of default, the Bank may declare the Facility to be
cancelled and/or declare all outstanding amounts together with interests thereon to be
immediately due and payable.
(11-06-2013, 09:16 PM)opmi Wrote: [ -> ]Wondering if change of control clause is a standard clause in SG banks property devt loan.
If there is a change in directorship, would the bank recall the property loans...?? Even though EHL got money to pay.
Might also affect ST's loan for the buyout?
http://www.dbs.com/in/institutional/corp...tions.aspx
Mezzanine Debt
Deployed as additional leverage beyond traditional bank debt financing, our Mezzanine Debt financing is commonly used to support leveraged or management buyouts, or as a form of bridge capital when equity markets, debt markets or traditional bank lending are unavailable. Mezzanine Debt financing is ideal for established businesses that are run by experienced management, are cash flow generative, have stable operating margins and operate in a steady industry environment.
Some Features of Mezzanine Debt:
Structure Subordinated loan with fixed coupon payment.
Financing Size Up to USD 50 million
Financing Period 3 to 5 years
Key Terms
Principal repayment usually amortised
Additional return kicker from equity warrants and requires junior-ranked security or collateral
May require board or observer representation for corporate situations
Ya. If ST loses directorship, bank may want back
the money used (if any) for the last 18 cents general offer.
My guess. Unlikely anyone would lend MBT money for another
Offer. only way to finance it is pay out special div. or offer
price including the special div.
Alternatively, can do a scheme of arrangement that cancel the
Minority shareholders shares. That's would require a vote.
Above are gusses only.
Very interesting... looking forward to the annual report next month to see how much ST actually borrowed. I presume all the shares bought with loan need to reside in the nominee account right?
DBSN SERVICES PTE LTD - 123,832,500 41.28%
(13-06-2013, 12:28 PM)opmi Wrote: [ -> ]DBSN SERVICES PTE LTD - 123,832,500 41.28%
Isn't that the collateral put up by ST and JL initially to support the offer? Should have increased after the offer...
(13-06-2013, 01:39 PM)smallcaps Wrote: [ -> ] (13-06-2013, 12:28 PM)opmi Wrote: [ -> ]DBSN SERVICES PTE LTD - 123,832,500 41.28%
Isn't that the collateral put up by ST and JL initially to support the offer? Should have increased after the offer...
basically, MBT draws down margin loan to buy the offer shares that went to MBT CDP account. My guess.
the DBSN account shares is enough to support the margin loan.
Any movt in shares would have to annc. So far, no such annc.