Navis can extend the closing date if wish to, see caption below
22.4 Further closing dates to be specified
Any announcement of an extension of an offer must state the next closing date or if
the offer is unconditional as to acceptances, a statement may be made that the offer
will remain open until further notice. In the latter case, those shareholders who have
not accepted the offer should be notified in writing at least 14 days before the offer is
closed.
I have rec'd the offer document, looking at it the current situation, there are no competing offer. I think the only choice is to accept the offer price 42 cts.
Anyone not accepting the offer?
2 mil shares traded and 42.0 cents ???
Should be Navis collection from open market. We should see disclosure announcement tmr to know their holding
Yea I guess so though we can only be certain tmr. The whole 42.0 cents buy queue has been swallowed.
(18-04-2012, 04:29 PM)Nick Wrote: [ -> ]Yea I guess so though we can only be certain tmr. The whole 42.0 cents buy queue has been swallowed.
http://info.sgx.com/webcoranncatth.nsf/V...4004455DC/$file/Offer_Unconditional_in_all_respects_180412.pdf?openelement [SGX Announcement]
Navis was the one who added shares at 42.0 cents today.
One question: If I am to sign the document and sell the shares to Navis, would I incurred any charges like when you sold on Open Market or when you apply for IPO?
(17-04-2012, 10:50 PM)setan Wrote: [ -> ]I have rec'd the offer document, looking at it the current situation, there are no competing offer. I think the only choice is to accept the offer price 42 cts.
Anyone not accepting the offer?
You keep asking, but never offer any advice...
Sharing is a 2 way street.... i see too many of such pp... sad
(18-04-2012, 10:14 PM)Some-one Wrote: [ -> ]One question: If I am to sign the document and sell the shares to Navis, would I incurred any charges like when you sold on Open Market or when you apply for IPO?
No charges at all. You are selling through CDP and not a broker/ATM.
(18-04-2012, 08:50 PM)Nick Wrote: [ -> ] (18-04-2012, 04:29 PM)Nick Wrote: [ -> ]Yea I guess so though we can only be certain tmr. The whole 42.0 cents buy queue has been swallowed.
http://info.sgx.com/webcoranncatth.nsf/V...4004455DC/$file/Offer_Unconditional_in_all_respects_180412.pdf?openelement [SGX Announcement]
Navis was the one who added shares at 42.0 cents today.
When Navis paid $0.42/share today to mop up the available shares in the open-market, in fact they are paying $0.42/share plus brokerage and SGX clearing and trading fees.
For Navis making a GO to privatize Adampak and now starting to mop up shares in the open-market, obviously they are looking at a much higher value than the $0.42/share offered. Navis' total costs for the entire exercise will also include the professional fees payable to Primepartners, the lawyers and other advisors - all these could add up to over $1.0m!
A relevant question: Will most of the long-term minority shareholders just accept Navis' $0.42/share offer? My own view: Unlikely!