Goodpack

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#67
(28-05-2014, 10:47 AM)specuvestor Wrote:
(28-05-2014, 08:34 AM)nitro Wrote: Just to confirm using SOA method, once 75% in value of of the Shares held by Shareholders present approved, KRR can get it delisted by paying minority $2.50/share.

This is unlike the GO method, where the offerer needs to get >90% to get the company delisted?

If SOA fails, everything back to normal.

Just to clarify: I think SOA is used to privatised (not delist) a company with just 75% shareholders present and majority of headcounts are in agreement. That is reason why some choose SOA rather than the simple GO. That also means it is a "trick" used by the smaller companies.

As HitandRun pointed out, employees and whatever proxies will also come. I'm wondering why no one busted them like the case of PCCW or is SIC and SGX not aware?


(28-05-2014, 11:19 AM)cif5000 Wrote: If the Scheme is approved at the meeting (i.e. majority in numbers of shareholders AND 75% in number of shares), ALL shares will be acquired by the offeror at the offer price even for those who had earlier voted against the Scheme. 100%.

(28-05-2014, 11:33 AM)ghchua Wrote: Dear all,

I think you all misunderstood the Scheme of Arrangement. Under the scheme, once it is approved at the scheme meeting and no objection from the court, the scheme is effective and binding to all shareholders. All shareholders will have their shares acquired and the company will be delisted. There is no such thing as holding unlisted shares once the scheme is effective. KKR using this method meant that they either acquire all the shares of Goodpack or they end up with nothing if the scheme is not approved.

That's what I meant Big Grin Privatise as in 100% owned. Delisting is a natural extention to being privatised but not the catalyst.

(28-05-2014, 11:20 AM)CityFarmer Wrote: Yes, the SOA is a mean to reorg capital structure of a company (privatisation), rather than to delist. However, at the end of day, it will be delisted, if the SOA went thru.

I wouldn't take it as "short-cut", but rather a variance in option for the offeror. For offeror opting for none or all, SOA is a better option than GO, but SOA is also easier to be voted down and subject to sanctioned by the court.

All shareholders are entitled to attend, and the limit of 2 proxies per shareholders is still there, IIRC. If it is a low ball offer, and minorities fail to vote it down, then who should be blamed?

(not vested)

SOA is meant to make the entity fully owned, reorg whatever is what the offeror claim Smile They could be asset stripping whatever behind the curtains but I digress.

SOA is not going to be effective in the case of say CMA because minorities likely to have more hands than the major shareholder Big Grin On the other hand (pun intended) small companies can organise a lot of "own people" turn out to overwhelm the minorities. In Neratel case they underestimated Big Grin whereas Meiban was a simple walkover even though I dissented
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward

Think Asset-Business-Structure (ABS)
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Messages In This Thread
Goodpack - by Thriftville - 08-01-2011, 07:21 AM
RE: Goodpack Limited - by FFNow - 08-01-2011, 05:22 PM
RE: Goodpack Limited - by freedom - 02-01-2012, 05:55 PM
RE: Goodpack Limited - by yogi - 09-10-2011, 11:46 PM
RE: Goodpack Limited - by BlackCat - 10-10-2011, 08:35 PM
RE: Goodpack Limited - by hongonn - 11-10-2011, 08:19 PM
RE: Goodpack Limited - by ngcheeki - 01-03-2012, 09:16 PM
RE: Goodpack Limited - by desmondxyz - 15-03-2013, 06:00 PM
RE: Goodpack Limited - by l0nEr - 15-03-2013, 08:17 PM
RE: Goodpack Limited - by hongonn - 19-03-2013, 06:06 PM
RE: Goodpack Limited - by greengiraffe - 19-03-2013, 07:32 PM
RE: Goodpack Limited - by l0nEr - 19-03-2013, 11:47 PM
RE: Goodpack Limited - by portuser - 20-03-2013, 08:44 AM
RE: Goodpack Limited - by desmondxyz - 24-04-2013, 11:40 PM
RE: Goodpack Limited - by l0nEr - 25-04-2013, 12:01 AM
RE: Goodpack Limited - by l0nEr - 26-04-2013, 06:03 PM
RE: Goodpack Limited - by junming82 - 12-05-2013, 10:44 PM
RE: Goodpack Limited - by mkmk - 18-10-2013, 09:36 PM
RE: Goodpack Limited - by portuser - 19-10-2013, 09:15 AM
RE: Goodpack - by portuser - 02-01-2014, 08:15 PM
RE: Goodpack - by CityFarmer - 19-03-2014, 04:27 PM
RE: Goodpack - by opmi - 19-03-2014, 04:49 PM
RE: Goodpack - by AlphaQuant - 19-03-2014, 07:16 PM
RE: Goodpack - by cif5000 - 20-03-2014, 10:45 AM
RE: Goodpack - by CityFarmer - 20-03-2014, 11:07 AM
RE: Goodpack - by portuser - 19-03-2014, 07:57 PM
RE: Goodpack - by GreedandFear - 19-03-2014, 09:06 PM
RE: Goodpack - by portuser - 20-03-2014, 12:34 PM
RE: Goodpack - by greengiraffe - 20-03-2014, 10:02 PM
RE: Goodpack - by greengiraffe - 21-03-2014, 09:36 AM
RE: Goodpack - by GreedandFear - 03-04-2014, 07:12 PM
RE: Goodpack - by greengiraffe - 08-04-2014, 10:38 PM
RE: Goodpack - by CityFarmer - 19-05-2014, 02:58 PM
RE: Goodpack - by hongonn - 19-05-2014, 08:08 PM
RE: Goodpack - by GreedandFear - 19-05-2014, 08:33 PM
RE: Goodpack - by CityFarmer - 19-05-2014, 08:44 PM
RE: Goodpack - by greengiraffe - 20-05-2014, 08:11 AM
RE: Goodpack - by greengiraffe - 20-05-2014, 06:27 PM
RE: Goodpack - by hongonn - 20-05-2014, 07:53 PM
RE: Goodpack - by greengiraffe - 20-05-2014, 08:21 PM
RE: Goodpack - by cif5000 - 21-05-2014, 09:45 AM
RE: Goodpack - by greengiraffe - 26-05-2014, 07:52 AM
RE: Goodpack - by hongonn - 27-05-2014, 09:17 PM
RE: Goodpack - by kikababoo - 27-05-2014, 09:30 PM
RE: Goodpack - by thefarside - 27-05-2014, 09:22 PM
Goodpack - by opmi - 27-05-2014, 09:42 PM
RE: Goodpack - by thefarside - 27-05-2014, 11:08 PM
RE: Goodpack - by opmi - 28-05-2014, 12:01 AM
RE: Goodpack - by nitro - 28-05-2014, 08:34 AM
RE: Goodpack - by opmi - 28-05-2014, 12:28 AM
RE: Goodpack - by yeokiwi - 28-05-2014, 06:52 AM
RE: Goodpack - by HitandRun - 28-05-2014, 08:25 AM
Goodpack - by opmi - 28-05-2014, 08:51 AM
RE: Goodpack - by specuvestor - 28-05-2014, 10:47 AM
RE: Goodpack - by GreedandFear - 28-05-2014, 11:14 AM
RE: Goodpack - by cif5000 - 28-05-2014, 11:19 AM
RE: Goodpack - by CityFarmer - 28-05-2014, 11:20 AM
RE: Goodpack - by thefarside - 28-05-2014, 08:56 AM
Goodpack - by opmi - 28-05-2014, 09:14 AM
Goodpack - by opmi - 28-05-2014, 09:17 AM
RE: Goodpack - by SpeedingBullet - 28-05-2014, 09:56 AM
RE: Goodpack - by AlphaQuant - 28-05-2014, 10:07 AM
RE: Goodpack - by thefarside - 28-05-2014, 10:05 AM
RE: Goodpack - by thefarside - 28-05-2014, 11:13 AM
RE: Goodpack - by ghchua - 28-05-2014, 11:33 AM
RE: Goodpack - by specuvestor - 28-05-2014, 12:31 PM
RE: Goodpack - by CityFarmer - 28-05-2014, 03:07 PM
RE: Goodpack - by opmi - 28-05-2014, 04:37 PM
RE: Goodpack - by CityFarmer - 28-05-2014, 04:51 PM
RE: Goodpack - by opmi - 28-05-2014, 04:56 PM
RE: Goodpack - by AlphaQuant - 28-05-2014, 05:13 PM
RE: Goodpack - by thefarside - 28-05-2014, 11:38 AM
Goodpack - by opmi - 28-05-2014, 12:41 PM
RE: Goodpack - by hongonn - 28-05-2014, 12:53 PM
RE: Goodpack - by nitro - 28-05-2014, 12:55 PM
Goodpack - by opmi - 28-05-2014, 01:00 PM
RE: Goodpack - by hongonn - 28-05-2014, 11:16 PM
RE: Goodpack - by greengiraffe - 29-05-2014, 07:32 AM
RE: Goodpack - by grubb - 03-06-2014, 11:25 AM
RE: Goodpack - by hh488 - 13-06-2014, 02:56 PM
RE: Goodpack - by opmi - 17-06-2014, 09:21 AM
RE: Goodpack - by greengiraffe - 10-07-2014, 08:15 AM
RE: Goodpack - by thefarside - 12-08-2014, 10:10 PM
RE: Goodpack - by pianist - 12-08-2014, 11:31 PM
RE: Goodpack - by hongonn - 15-08-2014, 11:33 AM
RE: Goodpack - by AlphaQuant - 15-08-2014, 11:47 AM
RE: Goodpack - by hongonn - 15-08-2014, 11:57 AM
RE: Goodpack - by greengiraffe - 17-09-2014, 06:41 AM

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