Keppel Limited

(26-03-2015, 01:30 PM)GFG Wrote: Like I mentioned earlier...
this is turning out to be a similar scenario to my previous experience with Pertama.
Now Kepland will get suspended (unless CAT is reached), kep corp will take longer to delist but they will get to delist at a later stage.
Earlier SHs who accepted will only get 4.38
Later SHs.... who knows what they'll get.
Although it is unlikely to be lower than 4.38.
Kep corp gets to delist kepland at a lower price, but like I said, it takes them longer to do so.

It will not be much later. After today if crosses the 90%, they will announce the delisting soon. So it's not much longer to delist

After one year Keppel can offer the delisted KPLD investor a different price like CK Tang. Question is people dunno how long this will be... 1 year or 10 years because the option is with Keppel, not the minority. Until then you will be proud owner of a private entity which a particular forumer doesn't seemed to understand.

right, so in the sense, the best case scenario is to pray that they can cross the 95.5% CAT. I note that means another 4.6%, but looking at today's Volume, looks a far cry to achieve from 95.5% acceptance.

Also, I wonder what Blackrock is gonna do with the 2.4% they currently possess. Definitely more sellers than buyers now, as we head into the last hour of trading...

(26-03-2015, 03:18 PM)specuvestor Wrote:

(26-03-2015, 01:30 PM)GFG Wrote: Like I mentioned earlier...
this is turning out to be a similar scenario to my previous experience with Pertama.
Now Kepland will get suspended (unless CAT is reached), kep corp will take longer to delist but they will get to delist at a later stage.
Earlier SHs who accepted will only get 4.38
Later SHs.... who knows what they'll get.
Although it is unlikely to be lower than 4.38.
Kep corp gets to delist kepland at a lower price, but like I said, it takes them longer to do so.

It will not be much later. After today if crosses the 90%, they will announce the delisting soon. So it's not much longer to delist

After one year Keppel can offer the delisted KPLD investor a different price like CK Tang. Question is people dunno how long this will be... 1 year or 10 years because the option is with Keppel, not the minority. Until then you will be proud owner of a private entity which a particular forumer doesn't seemed to understand.

LOL.
precisely.
BTW, according to an article I read, they can make an offer again after 6 months, not 1 year.
key word: "can"
they don't have to.

Blackrock is quite bullish about Singapore properties if you remember about the deal with CDL; and unlike us, they are perfectly comfortable having stake in unlisted company.

(26-03-2015, 12:15 PM)specuvestor Wrote: Though unlikely but it becomes complicated if they cross 95.5% because of keppel buying in market at 4.38, because I'm not sure it that will satisfy requirement for 4.60 price, though CA is triggered.

I think it will satisfy the condition for CA if Keppel Corp buys from the market at $4.38 or below. But in current situation, the market price of Keppel Land is above $4.38 so there is no way they could do that to satisfy CA.

(26-03-2015, 03:59 PM)egghead Wrote: Blackrock is quite bullish about Singapore properties if you remember about the deal with CDL; and unlike us, they are perfectly comfortable having stake in unlisted company.

Don't count on fund mgrs holding onto unlisted shares. They WILL sell.

I think VBs still holding onto many delisted shares.

Kep Corp's Offer is now extended to 31 Mar (Tue).
Last 3 trading days, so it seems they will give it one last go for the 95.5% CAT.
Hopefully, this last 3 days would be definitive...


Keppel Land Limited
(Incorporated in Singapore)
(Company Registration No. 189000001G)
other than those already owned, controlled or agreed to be acquired by
Keppel Corporation Limited
FINAL EXTENSION OF CLOSING DATE TO
5.30 P.M. (SINGAPORE TIME) ON 31 MARCH 2015

^^ will see Blackrock tender next few days.
Don't count on these funds.

Getting close... http://btd.sg/19U9Zk7

26 Mar 8:17 PM
Keppel Corp is fast approaching the 95.5 per cent compulsory acquisition threshold.
As at 5pm on Thursday, it owned 93.2 per cent of issued Keppel Land shares, according to a Singapore Exchange (SGX) filing.

what is the rationale of KC to structure it this way?

a big MNC plays like this..i wonder how it impress upon other smaller listed companies thinking of delisting