Tat Hong is divesting all their non-core assets and consolidating their operations, so I guess it's not surprising that they took this chance to offload a great deal of shares all at once without the corresponding discount usually attached to such bloc deals.
The 8 cts dividend from his enlarged shareholdings will be able to fund the takeover of TTJ at around 40cts.
That is probably why 8cts dividend was not declared as normal + special dividend as there will not be any more dividend next year.
Haha already said liao loh, delisting coming loh. Where got so good share the 8 cent with opmi, past few years div so little should know this towkay is chao kuan one loh.
After xd let the share price go down he can delist cheap cheap, especially now market worsening.
sent from my Galaxy Tab S
(29-09-2015, 10:30 AM)BlueKelah Wrote: [ -> ]Haha already said liao loh, delisting coming loh. Where got so good share the 8 cent with opmi, past few years div so little should know this towkay is chao kuan one loh.
After xd let the share price go down he can delist cheap cheap, especially now market worsening.
sent from my Galaxy Tab S
Blow your trumpet now, isn't it too early?
Firstly, Mr. Teo need not to do mandatory offer, with his previous holding. The free float remains more and less the same, after the transaction.
Next, the offer, if materialized, may be "satisfactory" to OPMIs.
Let's see...
(vested)
(29-09-2015, 06:43 AM)yeokiwi Wrote: [ -> ]The 8 cts dividend from his enlarged shareholdings will be able to fund the takeover of TTJ at around 40cts.
That is probably why 8cts dividend was not declared as normal + special dividend as there will not be any more dividend next year.
Can also be interpreted as using the 8 cents ($23.6 mil) to pay for the 60 mil shares that he just bought for $20.7 mil, assuming the 120 mil shares transfer to CIMB are being used as the corresponding collateral.
Seems there is the possibility that the 5.277 mil shares (1.5%) sold to CEO came from the free float? And it matches exactly with the shares sold by THI to form 60mil shares. Does it mean the seller holding on to more shares and might be accumulating more? Quite worrying, if that's the case, I think we are left with around 4.8% (16.8 mil shares) to go before the free float goes below 10%.
(29-09-2015, 11:37 PM)smallcaps Wrote: [ -> ] (29-09-2015, 06:43 AM)yeokiwi Wrote: [ -> ]The 8 cts dividend from his enlarged shareholdings will be able to fund the takeover of TTJ at around 40cts.
That is probably why 8cts dividend was not declared as normal + special dividend as there will not be any more dividend next year.
Can also be interpreted as using the 8 cents ($23.6 mil) to pay for the 60 mil shares that he just bought for $20.7 mil, assuming the 120 mil shares transfer to CIMB are being used as the corresponding collateral.
IMO, your scenario, is more a likely one. The CIMB may has provided the financial support for the buying, and will be repaid months later with the dividend.
(30-09-2015, 12:28 AM)smallcaps Wrote: [ -> ]Seems there is the possibility that the 5.277 mil shares (1.5%) sold to CEO came from the free float? And it matches exactly with the shares sold by THI to form 60mil shares. Does it mean the seller holding on to more shares and might be accumulating more? Quite worrying, if that's the case, I think we are left with around 4.8% (16.8 mil shares) to go before the free float goes below 10%.
There are existing stocks, with similar free-float and surviving well in SGX. I pick few which are well-known in this forum, with % rounded.
Cogent : 15%
Straco : 14%
Neo Group : 14%
(vested, and concerning on the lower free-float, but not worrying)
(30-09-2015, 09:34 AM)CityFarmer Wrote: [ -> ] (29-09-2015, 11:37 PM)smallcaps Wrote: [ -> ] (29-09-2015, 06:43 AM)yeokiwi Wrote: [ -> ]The 8 cts dividend from his enlarged shareholdings will be able to fund the takeover of TTJ at around 40cts.
That is probably why 8cts dividend was not declared as normal + special dividend as there will not be any more dividend next year.
Can also be interpreted as using the 8 cents ($23.6 mil) to pay for the 60 mil shares that he just bought for $20.7 mil, assuming the 120 mil shares transfer to CIMB are being used as the corresponding collateral.
IMO, your scenario, is more a likely one. The CIMB may has provided the financial support for the buying, and will be repaid months later with the dividend.
Can only hope for the best, since we have no idea how much margin he really needed to buy the 60mil shares. The question mark regarding the ordinary-ness of the the dividends still remains. Looking back, this chain of events may have started when he shifted 17mil shares from CIMB to his CDP account.
(30-09-2015, 09:32 PM)smallcaps Wrote: [ -> ] (30-09-2015, 09:34 AM)CityFarmer Wrote: [ -> ] (29-09-2015, 11:37 PM)smallcaps Wrote: [ -> ] (29-09-2015, 06:43 AM)yeokiwi Wrote: [ -> ]The 8 cts dividend from his enlarged shareholdings will be able to fund the takeover of TTJ at around 40cts.
That is probably why 8cts dividend was not declared as normal + special dividend as there will not be any more dividend next year.
Can also be interpreted as using the 8 cents ($23.6 mil) to pay for the 60 mil shares that he just bought for $20.7 mil, assuming the 120 mil shares transfer to CIMB are being used as the corresponding collateral.
IMO, your scenario, is more a likely one. The CIMB may has provided the financial support for the buying, and will be repaid months later with the dividend.
Can only hope for the best, since we have no idea how much margin he really needed to buy the 60mil shares. The question mark regarding the ordinary-ness of the the dividends still remains. Looking back, this chain of events may have started when he shifted 17mil shares from CIMB to his CDP account.
I am optimistic. FYI, the margin financing of TTJ of PS, is 50%. CIMB shouldn't be too far from there.
(vested, and remains optimistic)