11-04-2017, 07:42 PM
Vibrant is actually negotiating to increase their stake in the Manager (which they already control 51%). Effectively, it makes no difference to their present interest of 12.18% in Sabana REIT even if Vibrant increases its stake in the Manager to 100%. As far as Sabana REIT is concerned, Vibrant has not disclosed any increase in their stake.
ESR and Tong JinQuan are still keeping their game plan to themselves. Collectively, they have 11.18%. It will be strange if both of them are in alliance with Vibrant or the Manager as Tong was cutting his loss at 0.34 by not picking up the rights under the current structure. ESR only came in after we mooted the idea of removing the Manager.
However, we know under the current dynamics, anything is possible. Regardless of the outcome, I strongly believe we will end up in a better position than what it is now. It is a pity that the authorities chose not to take any action against the Manager and its directors for what they did.
ESR and Tong JinQuan are still keeping their game plan to themselves. Collectively, they have 11.18%. It will be strange if both of them are in alliance with Vibrant or the Manager as Tong was cutting his loss at 0.34 by not picking up the rights under the current structure. ESR only came in after we mooted the idea of removing the Manager.
However, we know under the current dynamics, anything is possible. Regardless of the outcome, I strongly believe we will end up in a better position than what it is now. It is a pity that the authorities chose not to take any action against the Manager and its directors for what they did.