(13-05-2014, 12:34 AM)intellect Wrote: [ -> ] (12-05-2014, 11:01 PM)greypiggi Wrote: [ -> ]Yes I remember sembmarine. My only worry is that it becomes unlisted shares. What is your plan if that happens?
Once Capitaland acquire 90%, they will purchase back the remaining shares.
Delisting and Compulsory Acquisition have different criteria. See the Compulsory Acquisition example given in the dialogue session pamphlet:
http://infopub.sgx.com/FileOpen/Pamphlet...eID=296825
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There's also a more updated example in the slides for the dialogue session:
http://infopub.sgx.com/FileOpen/Dialogue...eID=296826
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Accordingly to the example, currently would need around 97% to invoke compulsory acquisition, and it also depends on whether the additional shares are acquired from the market or from acceptance of the offer.
(12-05-2014, 07:12 PM)greypiggi Wrote: [ -> ]Hey are u guys selling or holding? I have quite a lot of this counter... Accumulated over the years and now about 100 lots.
I have 40. Not selling at the current offer.
anyone went to the dialogue session?? did not go coz too late to register.
(13-05-2014, 10:04 AM)egghead Wrote: [ -> ] (12-05-2014, 07:12 PM)greypiggi Wrote: [ -> ]Hey are u guys selling or holding? I have quite a lot of this counter... Accumulated over the years and now about 100 lots.
I have 40. Not selling at the current offer.
Personally I'm also not keen on their offer price as CMA is definitely worth more than that. $2.50 to $2.60 would be more palatable to me.
$2.20 is too lower a offer considering the NAV and its potential...but if don sell now...will become a perpetual shareholder liao
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(13-05-2014, 12:15 PM)xiang38 Wrote: [ -> ]$2.20 is too lower a offer considering the NAV and its potential...but if don sell now...will become a perpetual shareholder liao
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Why?
Isn't there is a compulsory sale to CMA if CMA manages to collect more than 90%
(13-05-2014, 01:06 PM)Temperament Wrote: [ -> ] (13-05-2014, 12:15 PM)xiang38 Wrote: [ -> ]$2.20 is too lower a offer considering the NAV and its potential...but if don sell now...will become a perpetual shareholder liao
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Why?
Isn't there is a compulsory sale to CMA if CMA manages to collect more than 90%
There's a range of % whereby CMA would be delisted but without compulsory acquisition. Right now that range is between 90% to 97%
http://infopub.sgx.com/FileOpen/Pamphlet...eID=296825
With Reference to the above, page 4, article No. 6 -Compulsory Acquisition
If this term still applicable, what's the problem of holding out?
Unless you need the money for something?
And article 7- Unconditional - if it happens, we can do nothing about it.
Why worry about holding out?
(13-05-2014, 02:28 PM)Temperament Wrote: [ -> ]http://infopub.sgx.com/FileOpen/Pamphlet...eID=296825
With Reference to the above, page 4, article No. 6 -Compulsory Acquisition
If this term still applicable, what's the problem of holding out?
Unless you need the money for something?
And article 7- Unconditional - if it happens, we can do nothing about it.
Why worry about holding out?
Both applicable but what if at the end of the offer, CL is holding onto for example, 92% of total shares. Then those who did not accept would end up holding delisted CMA shares since CL would not have the right to compulsory acquire the remaining 8% (since acceptance is less than 90%)