Penguin Lover?
When someone says they love Penguin, do they prefer it to be steamed or grilled?
I am not vested and I'm definitely looking to vest again when the price is reasonable.
As a Penguin Lover (need to be patient - I reminded myself), I really hope that the delist come sooner than later.
However, in my playbook, the longer the delist come, the higher chance that I could vest at a lower price.
Now, it's clear that a lot of OPMI expecting the delist to come and hence the price is hovering around 65.
In addition, OPMI is also anticipating that Penguin payout it's cash pile thru a (fat) dividend would certainly keep the price near 65 too.
No doubt and this is what's in my playbook:
If Penguin actually announce a (fat) dividend, then I tell myself to be very patient and wait a longer time to be vested. Likely scenario is the price will be keeping up strong, again near 65.
Exactly opposite, my chance will come when Penguin Lover expected a (fat) dividend but it did not happen, then that would be an exciting moment.
I am still learning and as a Penguin Lover for so many years, it had teaches me to be patient.
With (fat) dividend, the wait will be longer to delist.
Without any dividend, plus the frequent complaint by OPMI, will means the wait will be shorter.
I extract the following from Fairy offer document on the rationale of delist:
1. Greater Management Flexibility
The Offeror is making the Offer with a view to delisting the Company from the Mainboard of the SGX-ST and exercising any rights of compulsory acquisition that may arise under Section 215(1) of the Companies Act. The Offeror believes that privatising the Company will give the Offeror and the management of the Company more flexibility to manage the business of the Company, optimise the use of its management and capital resources and facilitate the implementation of any operational change.
2. Low Trading Liquidity of Shares
The trading volume of the Shares has been low, with an average daily trading volume1 of approximately 173,350 Shares, 104,798 Shares, 120,123 Shares and 279,521 Shares during the respective one (1)-month period, three (3)-month period, six (6)-month period and twelve (12)-month period up to and including 18 December 2020 (the “Last Trading Day”), being the last full Market Day immediately before the Company released the announcement in respect of a possible transaction involving the Shares on 21 December 2020 (the “Holding Announcement Date”). Each of these represents less than 0.13% of the total number of Shares for any of the aforementioned relevant periods. The Offer therefore provides Shareholders who find it difficult to exit the Company as a result of the low trading volume of the Shares with an opportunity to liquidate and realise their investments in the Shares at a premium over the prevailing market prices which would otherwise not be available given the low trading liquidity of the Shares.
Will the low liquidity happen again?
Is Jeffery and team happy with their current management flexibility?
Most important, the cash is piling up and a (fat) dividend for EMET Grace and vested Penguin Lover
MUST happen!
Gratitude.