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Eastern Holdings GO dispatching offer document today
http://info.sgx.com/webcorannc.nsf/Annou...endocument
Up-to-date, collection from open market is 1.95%, and total holding is 65.57%.
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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Dispatch offer doc on 29 Jun 2012. 1st closing date on 27 Jul 2012.
Almost half-way to the closing date, the collections is ONLY 69.183% up-to 10 Jul. Collected slightly more than 5% since announcement. Acceptance is only 2.6% up to 10 Jul.
Resistance is strong from shareholders...
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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Annual report is out:
4 investment properties with total book value of 13mil sold since end of FY (balance sheet has been adjusted)
Contains Mongolia details also.
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Difference between fair value and book value (of investment properties) have risen to 42.8mil
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14-07-2012, 08:01 PM
(This post was last modified: 14-07-2012, 08:41 PM by cyclone.)
Level of acceptances as of 13/07/2012 : 213,363,030 shares or about 71.121% of the shares issued.
http://info.sgx.com/webcoranncatth.nsf/V...A00420527/$file/Disclosure_Dealings_Acceptances_130712.pdf?openelement
Not vested
Specuvestor: Asset - Business - Structure.
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Recommendations Circular came out already:
Having regard to the considerations set out in this letter, and subject to the
qualifications and assumptions made herein, from a financial point of view, we are
of the opinion that the financial terms of the Offer are neither fair nor reasonable.
Accordingly, we advise the Independent Directors to recommend Shareholders to
REJECT the Offer.
The Independent Directors, having considered carefully, amongst other things, the terms of the
Offer and the advice given by the IFA in the IFA Letter, concur with the advice of the IFA in respect
of the Offer and accordingly, recommend that Shareholders should Reject the Offer.
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CIMB wishes to announce, for and on behalf of the Offeror, that the Closing Date of the Offer
will be extended from 5.30 p.m. (Singapore time) on 10 August 2012 to 5.30 p.m. (Singapore
time) on 17 August 2012 (the “Final Closing Date”). Shareholders who wish to accept the
Offer but have not done so may continue to do so by following the procedures for acceptance
of the Offer as set out in the Offer Document, FAA and the FAT.
Accordingly, the Offer shall close at 5.30 p.m. on the Final Closing Date. Please note
that the Offeror does not intend to revise the Offer or further extend the Offer beyond
5.30 p.m. on the Final Closing Date. Notice is hereby given that the Offer will not be
revised or open for acceptance beyond 5.30 p.m. on the Final Closing Date.
Acceptances received after 5.30 p.m. (Singapore time) on the Final Closing Date will be
rejected.