(18-03-2021, 05:47 PM)dydx Wrote: [ -> ]Haha, you are counting the days towards 24Mar (Wed) closely. Very likely Offeror would extend the Offer by another 2 weeks to try their luck on more loose shares.
Indeed acceptances and open-market buying at $0.65/share since 9Mar have yielded little progress for the Offeror. Perhaps it is about time to consider raising the Offer to give minorities a fair deal?
Yup. I usually take a keen interest to GO especially for shares that I am vested in.
I am going to say that there will be no extension and no revision.
J&J has already achieved their main objective ie. gain control of the company. Whatever happens from 04 Mar (where they got >50%) onwards is just icing on the cake. And in the improbable situation where they get >90%, then they will happily take the cake too.
so means keppel not selling their stake at low-ball offer... still smart money at play...
PIL 19Mar2021@60.75%
Reminder letter
(link)
Closing Date:
Acceptances of the Offer should be received by 5.30 p.m. (Singapore time) on 24 March 2021 or such later date(s) as may be announced from time to time, by or on behalf of the Offeror.
All FAAs, FATs and/or other relevant document(s) received after 5.30 p.m. (Singapore time) on the Closing Date will not be accepted.
(21-03-2021, 10:37 AM)¯|_(ツ)_/¯ Wrote: [ -> ]PIL 19Mar2021@60.75%
Reminder letter (link)
Closing Date:
Acceptances of the Offer should be received by 5.30 p.m. (Singapore time) on 24 March 2021 or such later date(s) as may be announced from time to time, by or on behalf of the Offeror.
All FAAs, FATs and/or other relevant document(s) received after 5.30 p.m. (Singapore time) on the Closing Date will not be accepted.
The offeror has announced that the offer price will not be revised.
PIL@68.02%
Thanks valuebuddies.
Indeed, the Financial Adviser wishes to announce, for and on behalf of the Offeror, that the Offero
r does not intend to increase the Offer Price. Therefore, in accordance with Rule 20.2 of the Singapore Code on Take-overs and Mergers (the "Code"), the Offeror will not be allowed to subsequently amend the terms of the Offer, including the Offer Price, in any way.
The Closing Date of the Offer is extended from 5.30 p.m. (Singapore time) on 24 March 2021 to 5.30 p.m. (Singapore time) on
7 April 2021 (or such later date(s) as may be announced from time to time, by or on behalf of the Offeror).
https://links.sgx.com/FileOpen/Project%2...eID=653002
It had been an excellent ride for me on Fairy Penguin.
First time vested 30+ and sold at 60+.
Second time vested at 40+ and sold yesterday at 65.
Looking forward to be vested again as I think that PIL is in good shape under J&J leadership.
I can foresee they will keep on extending the offer period so that shareholders who are fed up will eventually sell their shares and J&J will achieve 90%...
Can it be done ?
(26-03-2021, 08:50 PM)new-comer1 Wrote: [ -> ]I can foresee they will keep on extending the offer period so that shareholders who are fed up will eventually sell their shares and J&J will achieve 90%...
Can it be done ?
The answer is no. There are certain rules in place in terms of milestone events for any takeover offers. The final date is normally 4 months after dispatch of offer document. If the offeror couldn't acquire 90% of the offer shares by then in order to commerce compulsory acquisition, the offer will lapse.