(06-06-2016, 08:40 PM)Bibi Wrote: [ -> ]if i hv submitted the offer letter to sell all my shares and one day the open market is buying CMPac shares at 1.03, does not mean I can no longer sell in the open market?
If your shares in CDP, has been transferred out, due to the acceptance, then, theoretically, you are not allowed to sell, otherwise, it is a naked short, right?
Thus, I reckon, no point to accept pre-unconditional.
(vested, and waiting)
(06-06-2016, 09:01 PM)CityFarmer Wrote: [ -> ] (06-06-2016, 08:40 PM)Bibi Wrote: [ -> ]if i hv submitted the offer letter to sell all my shares and one day the open market is buying CMPac shares at 1.03, does not mean I can no longer sell in the open market?
If your shares in CDP, has been transferred out, due to the acceptance, then, theoretically, you are not allowed to sell, otherwise, it is a naked short, right?
Thus, I reckon, no point to accept pre-unconditional.
(vested, and waiting)
No point to accept pre-unconditional, does that mean its better to dont accept the offer letter? If say I dont accept the offer and the delisting go thru, i will only be issued share certificates?
(06-06-2016, 09:18 PM)Bibi Wrote: [ -> ]No point to accept pre-unconditional, does that mean its better to dont accept the offer letter? If say I dont accept the offer and the delisting go thru, i will only be issued share certificates?
You are ensured by the Code, a 14-days period to react, upon unconditional of the GO, if it is ever achieved/declared by the Offeror.
After today, there are only 14 working days for CMPac to reach the 90% threshold...
As of now, they have only accumulated 78.55% (Easton) + 6.98% (HIAM) + 0.09% (Mr. Jian) = 85.62% or 4.38% left to breach that level.
It is not that far from the 90%. But the everyday dealing announcement from by them showed that the uptake rate is getting smaller and smaller. For example, the uptake rate for the past 5 days were 0.15%, 0.12%, 0.14%, 0.09% & 0.06% respectively. At this rate, it is hard for CMPac to reach that 90%. In fact, they need to accumulate 0.37% per day over the 14 working days left.
Does the dealing announcement includes shares acquired through open market ONLY or includes those through the GO letter as well?
Or Everyone just keep it chill to the last minute?
Personally, I have yet to mail that GO yet nor sell my shares on open market...
Always have option to extend, no? Lolx.
I just sign on the acceptance letter for my holding via CPF.
(07-06-2016, 10:06 PM)marandaz Wrote: [ -> ]After today, there are only 14 working days for CMPac to reach the 90% threshold...
As of now, they have only accumulated 78.55% (Easton) + 6.98% (HIAM) + 0.09% (Mr. Jian) = 85.62% or 4.38% left to breach that level.
It is not that far from the 90%. But the everyday dealing announcement from by them showed that the uptake rate is getting smaller and smaller. For example, the uptake rate for the past 5 days were 0.15%, 0.12%, 0.14%, 0.09% & 0.06% respectively. At this rate, it is hard for CMPac to reach that 90%. In fact, they need to accumulate 0.37% per day over the 14 working days left.
Does the dealing announcement includes shares acquired through open market ONLY or includes those through the GO letter as well?
Or Everyone just keep it chill to the last minute?
Personally, I have yet to mail that GO yet nor sell my shares on open market...
I think those numbers are for shares acquired over open market. It does not include acceptance via GO letter.
If you look at the end of footnote 3 of the SGX annoucements, it says "This also excludes any valid acceptances received by the Offeror pursuant to the Offer."
http://infopub.sgx.com/FileOpen/Dealings...eID=408148
(31-05-2016, 09:43 AM)CityFarmer Wrote: [ -> ]The GO time-line has started by the dispatch of offer doc on 30 May 2016.
http://infopub.sgx.com/FileOpen/Offer%20...eID=407072
[edited on a typo. My apologies]
(08-06-2016, 07:52 AM)gzbkel Wrote: [ -> ] (07-06-2016, 10:06 PM)marandaz Wrote: [ -> ]After today, there are only 14 working days for CMPac to reach the 90% threshold...
As of now, they have only accumulated 78.55% (Easton) + 6.98% (HIAM) + 0.09% (Mr. Jian) = 85.62% or 4.38% left to breach that level.
It is not that far from the 90%. But the everyday dealing announcement from by them showed that the uptake rate is getting smaller and smaller. For example, the uptake rate for the past 5 days were 0.15%, 0.12%, 0.14%, 0.09% & 0.06% respectively. At this rate, it is hard for CMPac to reach that 90%. In fact, they need to accumulate 0.37% per day over the 14 working days left.
Does the dealing announcement includes shares acquired through open market ONLY or includes those through the GO letter as well?
Or Everyone just keep it chill to the last minute?
Personally, I have yet to mail that GO yet nor sell my shares on open market...
I think those numbers are for shares acquired over open market. It does not include acceptance via GO letter.
If you look at the end of footnote 3 of the SGX annoucements, it says "This also excludes any valid acceptances received by the Offeror pursuant to the Offer."
http://infopub.sgx.com/FileOpen/Dealings...eID=408148
I', also holding out for better offer, throw in the towel when become unconditional.
(08-06-2016, 07:52 AM)gzbkel Wrote: [ -> ] (07-06-2016, 10:06 PM)marandaz Wrote: [ -> ]After today, there are only 14 working days for CMPac to reach the 90% threshold...
As of now, they have only accumulated 78.55% (Easton) + 6.98% (HIAM) + 0.09% (Mr. Jian) = 85.62% or 4.38% left to breach that level.
It is not that far from the 90%. But the everyday dealing announcement from by them showed that the uptake rate is getting smaller and smaller. For example, the uptake rate for the past 5 days were 0.15%, 0.12%, 0.14%, 0.09% & 0.06% respectively. At this rate, it is hard for CMPac to reach that 90%. In fact, they need to accumulate 0.37% per day over the 14 working days left.
Does the dealing announcement includes shares acquired through open market ONLY or includes those through the GO letter as well?
Or Everyone just keep it chill to the last minute?
Personally, I have yet to mail that GO yet nor sell my shares on open market...
I think those numbers are for shares acquired over open market. It does not include acceptance via GO letter.
If you look at the end of footnote 3 of the SGX annoucements, it says "This also excludes any valid acceptances received by the Offeror pursuant to the Offer."
http://infopub.sgx.com/FileOpen/Dealings...eID=408148
That makes more sense now...
(08-06-2016, 07:52 AM)gzbkel Wrote: [ -> ] (07-06-2016, 10:06 PM)marandaz Wrote: [ -> ]After today, there are only 14 working days for CMPac to reach the 90% threshold...
As of now, they have only accumulated 78.55% (Easton) + 6.98% (HIAM) + 0.09% (Mr. Jian) = 85.62% or 4.38% left to breach that level.
It is not that far from the 90%. But the everyday dealing announcement from by them showed that the uptake rate is getting smaller and smaller. For example, the uptake rate for the past 5 days were 0.15%, 0.12%, 0.14%, 0.09% & 0.06% respectively. At this rate, it is hard for CMPac to reach that 90%. In fact, they need to accumulate 0.37% per day over the 14 working days left.
Does the dealing announcement includes shares acquired through open market ONLY or includes those through the GO letter as well?
Or Everyone just keep it chill to the last minute?
Personally, I have yet to mail that GO yet nor sell my shares on open market...
I think those numbers are for shares acquired over open market. It does not include acceptance via GO letter.
If you look at the end of footnote 3 of the SGX annoucements, it says "This also excludes any valid acceptances received by the Offeror pursuant to the Offer."
http://infopub.sgx.com/FileOpen/Dealings...eID=408148
Usually, the acceptance is included into the disclosure. I reckon, the figure is insignificant to disclose.