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(28-10-2015, 02:18 PM)beau Wrote: (27-10-2015, 08:17 PM)Nebula Wrote: HTL has just announced that it has signed an MOU with Guangdong Yihua Timber Industry Co., Ltd.
(“GDYH”), in relation to potential corporate transaction(s), which may be assets/shares
related, aimed at realising value for all shareholders of the Company
http://infopub.sgx.com/FileOpen/HTL2015A...eID=375050
Could someone kindly explain what this means? And why has the stock price almost doubled over the afternoon?
Un...un...un...un...unbelievable..... 
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(27-10-2015, 11:16 PM)touzi Wrote: (27-10-2015, 08:17 PM)Nebula Wrote: HTL has just announced that it has signed an MOU with Guangdong Yihua Timber Industry Co., Ltd.
(“GDYH”), in relation to potential corporate transaction(s), which may be assets/shares
related, aimed at realising value for all shareholders of the Company
http://infopub.sgx.com/FileOpen/HTL2015A...eID=375050
The MOU is signed between BEM and GDYH. Could it be that BEM is considering to sell its stake? Will this result in a takeover offer for other shareholders?
Yes, touzi, you are right.
apologies for the confusion.
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(28-10-2015, 02:34 PM)desmondxyz Wrote: (28-10-2015, 02:18 PM)beau Wrote: (27-10-2015, 08:17 PM)Nebula Wrote: HTL has just announced that it has signed an MOU with Guangdong Yihua Timber Industry Co., Ltd.
(“GDYH”), in relation to potential corporate transaction(s), which may be assets/shares
related, aimed at realising value for all shareholders of the Company
http://infopub.sgx.com/FileOpen/HTL2015A...eID=375050
Could someone kindly explain what this means? And why has the stock price almost doubled over the afternoon?
Un...un...un...un...unbelievable..... Based on HTL's 2014 annual report, BEM holdings has a direct interest of 43.59% of HTL.
BEM has signed an MOU with GDYH for a corporate action that MAY be asset/ share related, aimed at realising value for ALL shareholders of the company.
IMO, the statement is a bit vague on what the deal is.
"The Board of Directors wishes to emphasise that it has not been approached by GDYH in relation to any proposed transaction."
does this mean that BEM is looking for a buyer and approached GDYH?
market seems to think that value is going to be unlocked soon.
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29-10-2015, 08:18 AM
(This post was last modified: 29-10-2015, 08:19 AM by namralk.
Edit Reason: spelling error
)
(28-10-2015, 02:18 PM)beau Wrote: (27-10-2015, 08:17 PM)Nebula Wrote: HTL has just announced that it has signed an MOU with Guangdong Yihua Timber Industry Co., Ltd.
(“GDYH”), in relation to potential corporate transaction(s), which may be assets/shares
related, aimed at realising value for all shareholders of the Company
http://infopub.sgx.com/FileOpen/HTL2015A...eID=375050
Could someone kindly explain what this means? And why has the stock price almost doubled over the afternoon?
It means the MOU is signed between BEM & Yihua. BEM is the holding company of the Phua brothers, who in turn control HTL (43.59%). Why approach BEM instead of HTL directly? My speculation is that getting BEM's shareholdings would allow effective control already.
If it is a done deal, there should be a mandatory offer for minority too as BEM's shareholdings crosses 30%. What I am not sure of is whether the mandatory offer will be the same price given to BEM?
Yi Hua strength is in wood furniture. HTL's strength is in sofa. Based on Yihua's 1st half report, 外销 (to USA) is about 72% of revenue. HTL has a strong presence in Europe. To Yihua, HTL will be a great fit both in terms of products and geographical reach.
http://www.yihuatimber.com/#p/3
http://vip.stock.finance.sina.com.cn/cor...id=1939095
Based on Yihua's announcement, the offer will be in cash. (本次重大资产重组的交易方式为现金支付的方式购买标的公司的股份或资产。)
Yihua also applied to extend their suspension for 1 more month from 7 Nov 2015 so hopefully the deal could be concluded by 7 Dec 2015. However it must be noted that the MOU is till 31 July 2016.
http://finance.sina.com.cn/stock/t/20151...3294.shtml
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fully sold my holding this morning at .47..feeling good...it seems like santa claus is indeed coming early this christma. weather turning better as well...huat ah!!!
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(29-10-2015, 08:18 AM)namralk Wrote: (28-10-2015, 02:18 PM)beau Wrote: (27-10-2015, 08:17 PM)Nebula Wrote: HTL has just announced that it has signed an MOU with Guangdong Yihua Timber Industry Co., Ltd.
(“GDYH”), in relation to potential corporate transaction(s), which may be assets/shares
related, aimed at realising value for all shareholders of the Company
http://infopub.sgx.com/FileOpen/HTL2015A...eID=375050
Could someone kindly explain what this means? And why has the stock price almost doubled over the afternoon?
It means the MOU is signed between BEM & Yihua. BEM is the holding company of the Phua brothers, who in turn control HTL (43.59%). Why approach BEM instead of HTL directly? My speculation is that getting BEM's shareholdings would allow effective control already.
If it is a done deal, there should be a mandatory offer for minority too as BEM's shareholdings crosses 30%. What I am not sure of is whether the mandatory offer will be the same price given to BEM?
Yi Hua strength is in wood furniture. HTL's strength is in sofa. Based on Yihua's 1st half report, 外销 (to USA) is about 72% of revenue. HTL has a strong presence in Europe. To Yihua, HTL will be a great fit both in terms of products and geographical reach.
http://www.yihuatimber.com/#p/3
http://vip.stock.finance.sina.com.cn/cor...id=1939095
Based on Yihua's announcement, the offer will be in cash. (本次重大资产重组的交易方式为现金支付的方式购买标的公司的股份或资产。)
Yihua also applied to extend their suspension for 1 more month from 7 Nov 2015 so hopefully the deal could be concluded by 7 Dec 2015. However it must be noted that the MOU is till 31 July 2016.
http://finance.sina.com.cn/stock/t/20151...3294.shtml based on the principles of Singapore's Takeover Code "that all the shareholders must be treated fairly and equally", i am pretty sure that as minorities, we will be paid the same as BEM
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If they make use of the white wash clause , then minorities will be left alone .
“risk comes from not knowing what you’re doing.”
I don’t look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.
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(29-10-2015, 11:19 AM)pianist Wrote: fully sold my holding this morning at .47..feeling good...it seems like santa claus is indeed coming early this christma. weather turning better as well...huat ah!!!
You have never failed to impress me
Congrats!
Fully sold 25,000 shares?
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(29-10-2015, 11:55 AM)cfa Wrote: If they make use of the white wash clause , then minorities will be left alone .
Can you elaborate more on this clause? Any link/doc to look at? Thanks
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29-10-2015, 04:30 PM
(This post was last modified: 29-10-2015, 04:32 PM by cfa.)
White wash gives buyer a privilege not to have a GO .
“risk comes from not knowing what you’re doing.”
I don’t look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.
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