Wheelock Properties

[Louhan]

Seems like Wheelock is only interested to buy SC Global on the market at about $1.82, and not higher. In the meantime Simon Cheong's offer is $1.80. If more than 10% of SC Global shareholders are not willing to sell between $1.80 to $1.82, it's likely that the privatization may fail.

Wheelock properties has made another 1,324 lots of SC Global shares between $1.805 to $1.815.

http://info.sgx.com/webcoranncatth.nsf/V...E003FB53A/$file/Wheelock_Disclosure_of_Dealings09012013.pdf?openelement

Will be an interesting competition from here between Wheelock and Simon.

Seems like Wheelock is sitting back to buy at 1.805 while Simon is constrain by his offer at 1.80.

However, the outcome will remain the same - Wheelock's open market accumulation and a likely extension of offer period by Simon will eventually reduce the free float in SC Global below 10% leading to a delisting and paving way of the negotiation between Simon and Wheelock.