Challenger Technologies

Request for Trading Halt : Pending release of announcement.

Privatisation?

Unlikely in my opinion. It may be good to stay listed for visibility especially to attract more Challenger membership. If privatization, could have done so when the price was 20 cents plus.

Proposed voluntary delisting. $0.56 including declared dividend FY2018 of $0.02.

https://links.sgx.com/1.0.0/corporate-an...190320.pdf

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Offer at 56 cts, stands at P/B = 2.1 times and P/E = 9.92 times based on FY2018 financial numbers. 

Quite a low offer over last traded price of 53cts, minus dividends of 2 cents which shareholders are going to receive anyway, offer is only 54 cents.

Private equity Dymon obviously see higher value and potential for Challenger and wants to take private in the midst of difficult retail environment.

Is Challenger not worth more, given its huge member base, regional potential and online business?

If minority shareholders are unhappy with the delisting offer, they have to come out in force to vote against the delisting resolution. Since delisting resolution required 75% of the total issued shares to vote for it and not being voted against by 10% or more of the total issued shares, minorities will have to play ball again. Not doing anything will not count towards the against vote.

The undertaking shareholders, holding approximately 78.64% of the total number of issued shares, had already undertake to vote in favour of the delisting resolution.

Minorities, the ball is now in your court again. Please play ball. If not, I am afraid that the LTC Corp episode will be repeated again.

Mr loo has thrown in the towel?

(20-03-2019, 10:18 PM)MOV Wrote: Offer at 56 cts, stands at P/B = 2.1 times and P/E = 9.92 times based on FY2018 financial numbers. 

Quite a low offer over last traded price of 53cts, minus dividends of 2 cents which shareholders are going to receive anyway, offer is only 54 cents.

Private equity Dymon obviously see higher value and potential for Challenger and wants to take private in the midst of difficult retail environment.

Is Challenger not worth more, given its huge member base, regional potential and online business?

Offer at 56 cts, stands at P/B = 2.1 times and P/E = 9.92 times based on FY2018 financial numbers. 

Low ball offer over last traded price of 53cts, minus dividends of 2 cents which shareholders are going to receive anyway, offer is only 54 cents. 

18.3cts of cash per share, debtless. Means theoretically they only need to fork out 35.7 cts per share to fully own the enterprise value

Own view nv

Low ball offer....minorities should gang up and reject it. Neratel shareholders had done it before, challengers shareholders can do it also!

If Mr loo has given up, it's a bad sign on sg market and that cost of business is spiraling out of uncomfortable control, quite sad