(21-06-2016, 10:57 PM)marandaz Wrote: [ -> ]Well a bit of anti-climax...
As of today, the VALID SHARE acceptance has breached the 90% threshold, BUT
The GO is still "CONDITIONAL" because the MAXIMUM POTENTIAL acceptance is still 89.27%.
If my comprehension did not fail me, We need to either wait for the offer to close if no more acceptance is coming in or that the MAXIMUM POTENTIAL acceptance reaches 90%
Continue to hold out for better offer. Still have hope.
(21-06-2016, 10:57 PM)marandaz Wrote: [ -> ]Well a bit of anti-climax...
As of today, the VALID SHARE acceptance has breached the 90% threshold, BUT
The GO is still "CONDITIONAL" because the MAXIMUM POTENTIAL acceptance is still 89.27%.
If my comprehension did not fail me, We need to either wait for the offer to close if no more acceptance is coming in or that the MAXIMUM POTENTIAL acceptance reaches 90%
The statement is a bit confusing, with your terminologies.
Refer to circular, the "acceptance condition" is based on
"carrying more than 90 per cent. of the voting rights attributable to the maximum potential share capital of the Company" - page 21
Thus we should focus only on the "approximately 89.27% of the maximum potential issued share capital of the Company", rather than the other one. The number is affected by the acceptance of CB, not only the acceptance of issued shares.
(vested, and waiting for the unconditional before any action)
(21-06-2016, 10:20 PM)MINX Wrote: [ -> ] (21-06-2016, 08:18 PM)specuvestor Wrote: [ -> ]With ref to my post #1043, I was informed by another VB that conditional or unconditional by SAME offeror is entitled to revision of price. One is not entitled to revision only on competing offers but there are also provision for withdrawal of acceptance when offer is unconditional.
I stand corrected and appreciate if there are other clarifications by VBs on this
I don't know about you guys, but I'm totally confused now following all the arguments 
I reckon, the last post of Mr. specuvestor, is a good summary of the topic.
In other words, competing bid, if any, should logically be offered soon, before the unconditional, right?
(22-06-2016, 09:42 AM)CityFarmer Wrote: [ -> ] (21-06-2016, 10:57 PM)marandaz Wrote: [ -> ]Well a bit of anti-climax...
As of today, the VALID SHARE acceptance has breached the 90% threshold, BUT
The GO is still "CONDITIONAL" because the MAXIMUM POTENTIAL acceptance is still 89.27%.
If my comprehension did not fail me, We need to either wait for the offer to close if no more acceptance is coming in or that the MAXIMUM POTENTIAL acceptance reaches 90%
The statement is a bit confusing, with your terminologies.
Refer to circular, the "acceptance condition" is based on
"carrying more than 90 per cent. of the voting rights attributable to the maximum potential share capital of the Company" - page 21
Thus we should focus only on the "approximately 89.27% of the maximum potential issued share capital of the Company", rather than the other one. The number is affected by the acceptance of CB, not only the acceptance of issued shares.
(vested, and waiting for the unconditional before any action)
My interpretation is that there are issued shares and maximum potential share..
1) GO will be unconditional once the 90% of issued shares threshold is breach AND the GO period ends.
2) For GO to be unconditional BEFORE the GO period ends, they must acquire 90% of the maximum potential share instead.
(22-06-2016, 10:24 AM)marandaz Wrote: [ -> ]My interpretation is that there are issued shares and maximum potential share..
1) GO will be unconditional once the 90% of issued shares threshold is breach AND the GO period ends.
2) For GO to be unconditional BEFORE the GO period ends, they must acquire 90% of the maximum potential share instead.
The reference used, is the circular to shareholders. According to the doc, there is ONLY one condition i.e. the “Acceptance Condition”, either before or after the 1st Closing Date.
(22-06-2016, 11:24 AM)CityFarmer Wrote: [ -> ] (22-06-2016, 10:24 AM)marandaz Wrote: [ -> ]My interpretation is that there are issued shares and maximum potential share..
1) GO will be unconditional once the 90% of issued shares threshold is breach AND the GO period ends.
2) For GO to be unconditional BEFORE the GO period ends, they must acquire 90% of the maximum potential share instead.
The reference used, is the circular to shareholders. According to the doc, there is ONLY one condition i.e. the “Acceptance
Condition”, either before or after the 1st Closing Date.
I believe we are reading the same thing but with different interpretation...
Offer becomes unconditional liao
. What if I submit the offer letter via mail and through some bad luck the letter didnt reach them? is it I can only suck thumb?
(22-06-2016, 09:25 PM)Bibi Wrote: [ -> ]Offer becomes unconditional liao . What if I submit the offer letter via mail and through some bad luck the letter didnt reach them? is it I can only suck thumb?
go to SGX CDP and drop the acceptance offer lor. Or want to double confirm, queue up and go to counter to submit.
I instruct my broker to accept the offer for all my share this morning. -.0
Heck. I singpost my letter this morning. So there wont be any confirmation from CDP or CMPac that they have received my offer to sell to them? Can I email the IR of CMPac to confirm or they wont entertain
. Anybody have such experiences?