Keppel Land

Gong Xi Gong Xi to all kepland shareholders

(23-01-2015, 08:43 PM)CCUV Wrote: Gong Xi Gong Xi to all kepland shareholders

Thanks, but what to gong xi if the offer price is considered low/undervalue.

It is a lost of opportunity cost for shareholders.

(23-01-2015, 03:46 PM)newyorkcityboy Wrote: ya. Given Kep Corp is paying close to the NAV for Kep Land, OUE and Wheelock are potentially still cheap.

Don't just look at NAV, because NAV is NOT the true value of this company.

When China 1st and 2nd tier properties market is bottoming out soon, what does it imply for this company?

Think last year or 2 years ago, PM already said in the National speech that the government zoned the Keppel bay areas as water front mix developemtn area(residential, office and leisure centre, etc) where the major landlords are Kepland and Keppel Corp, how much will these lands cost in future. Much more than now....

There are more to say about, but I will stop here.

^^^ modus operandi

(22-01-2015, 09:43 AM)opmi Wrote: I am wary of IPTs....especially by a parent company who privatised its subsidiary before the business boomed big time....

(23-01-2015, 08:43 PM)CCUV Wrote: Gong Xi Gong Xi to all kepland shareholders

Can someone help explain the current price of 4.54 for KepLand. At takeover price of 4.60 less dividend of 0.14, the price should not be more than 4.44 Am I missing something here?

(29-01-2015, 12:17 PM)melissa Wrote:

(23-01-2015, 08:43 PM)CCUV Wrote: Gong Xi Gong Xi to all kepland shareholders

Can someone help explain the current price of 4.54 for KepLand. At takeover price of 4.60 less dividend of 0.14, the price should not be more than 4.44 Am I missing something here?

Haven't XD yet... So 4.54 is inclusive of 0.14 div

(29-01-2015, 12:36 PM)desmondxyz Wrote:

(29-01-2015, 12:17 PM)melissa Wrote:

(23-01-2015, 08:43 PM)CCUV Wrote: Gong Xi Gong Xi to all kepland shareholders

Can someone help explain the current price of 4.54 for KepLand. At takeover price of 4.60 less dividend of 0.14, the price should not be more than 4.44 Am I missing something here?

Haven't XD yet... So 4.54 is inclusive of 0.14 div

The takeover price is inclusive of the dividend

(29-01-2015, 12:47 PM)melissa Wrote:

(29-01-2015, 12:36 PM)desmondxyz Wrote:

(29-01-2015, 12:17 PM)melissa Wrote:

(23-01-2015, 08:43 PM)CCUV Wrote: Gong Xi Gong Xi to all kepland shareholders

Can someone help explain the current price of 4.54 for KepLand. At takeover price of 4.60 less dividend of 0.14, the price should not be more than 4.44 Am I missing something here?

Haven't XD yet... So 4.54 is inclusive of 0.14 div

The takeover price is inclusive of the dividend

Have not reach mandatory take-over yet. This is a take-over offer or bid only; share-holders have to decide for themselves. Have you?

I think it works like this - if you sell it now, you get 4.54 (ignore brokerage for the moment). If you keep until mandatory take-over you will get 4.60, you "forgo" 6 cents. Sorry for the error in my earlier posting should be 4.46 and not 4.44. eDragon - I do half-half (sell half, keep half)

My understanding is

1) Sell to the market, you get (market price less brokerage)
2) Accept the offer, you get (4.38 less dividend)
3) At close of the offer, if the compulsory acquisition threshold is reached, those who have accepted the offer would get an additional amount (4.60 – 4.38).
4) If the compulsory acquisition threshold has not been reached at close of offer, and assuming the free float condition is intact then – keppeland would remain listed – those who have not accepted the offer could only sell their shares at the market price then.

(not vested)
________________________________________________________________________________________________________________

KepCorp owns 54.6% of KepLand as of 22 Jan 15

This is a Voluntary Unconditional cash offer

The Base Offer Price = 4.38

Higher Offer Price = 4.60,
in the event that the Offeror acquires or agrees to acquire (or is deemed or treated under Section 215 of the Companies Act, Chapter 50 of Singapore (the “Companies Act”) as having acquired or agreed to acquire) Shares (excluding those Shares held by it, its related corporations1 or their respective nominees as at the Commencement Date which are acquired or agreed to be acquired by them) during the period from (and including) the Commencement Date up to (and including) the final closing date of the Offer (whether pursuant to valid acceptances of the Offer or otherwise) which are equal to or more than the Compulsory Acquisition Threshold,

“Compulsory Acquisition Threshold” means 90 per cent. of the total number of issued Shares (excluding treasury shares and other than those already held by the Offeror, its related corporations or their respective nominees as at the Commencement Date).

For the avoidance of doubt, the Offeror will extend the Higher Offer Price to all shareholders of the Company (“Shareholders”), including those Shareholders who, at the date on which the Compulsory Acquisition Threshold is reached, have already accepted the Offer.

Without prejudice to the foregoing, the Offer Price has been determined on the basis that the Offer Shares will be acquired with the right to receive any Distribution that may be declared, paid or made by the Company on or after the date of this Announcement.

The Offeror does not intend to revise the Offer Price.