Sunningdale Technology

[weijian]

Will Quarz give up championing? On the surface and as explained above, I think they will not change their stance. However I am reminded of a similar case recently. Another fund made alot of noises at low ball offer, revised offer (very slightly increased) came in, and they quickly throw in the towel. So every party have their own interests.

Edit: Quarz is buying again after the revised offer, at $1.62. Another fund that has publicly made known its investment in Sunningdale is Lighthouse capital (as publicly stated in quarterly newsletter). 5% of fund as of 30 Sept 2019. Not sure if this holding has changed since then as I am not a client. My own estimate is that this stake is around 2-3% of Sunningdale.

Well, I reckon you are referring to the Japanese who were arguing over some golf courses in their home country I suppose?

Quarz has probably made a very public statement to all OPMIs with a ~900k SGD transaction that purchased ~0.28% of the company. They are not there for the 3cents (2%) gains for sure and they have very publicly anchored a price towards the NAV (very similar to what they had done for Sabana Reit, and been successful).