Penguin International

(08-04-2021, 07:22 PM)valuebuddies Wrote: If the company still producing solid results, whether they hike or cut the dividend, it doesnt really matter to me. The integrity of the management is more important.

Keppel Corp has announced that it accepted the offer on April 1.
Game over?

This announcement by BH Global on a hybrid vessel owned by Penguin and operated by Penguin for Shell.

https://bhglobal.listedcompany.com/newsr...68V0.1.pdf

No similar announcement by Penguin.  But JT had commented on this announcement.  Read previously before this GO announcement that Penguin is venturing into hybrid boats.  

This could gain track as the push for greener technology in sectors, including the marine sector.

Pardon my newness in this. What are the pros and cons of holding on the share once the offer lapsed? Are they going to use dividends to pay for this offer or they are using bank loans?

Thank you

  Keppel has accepted the offer.  

https://links.sgx.com/FileOpen/_Form%203...eID=657953

The latest resultant level is reported to be 78.15% (as of 09 Apr)

Even though as reported, the date of the change of interest was 01 Apr, looking over my own tracking, there has not been a significant jump in the total acceptance level since 01 Apr. 

So assuming, Keppel's 6.24% is not reflected, then the current level could be closer to 85%. 

There's roughly 8 more business day to the closing of the offer. I think it will be a photo finish.

Rats ! They sure take a long time. I wonder what did J&J do to convince Keppel.

(10-04-2021, 12:51 PM)touzi Wrote: Rats ! They sure take a long time. I wonder what did J&J do to convince Keppel.

To be honest. It wasn't exactly hard to predict this. I don't think J&J had to do much, the institutional imperative was more prevalent IMHO.

https://www.valuebuddies.com/thread-3645...#pid160974

(11-04-2021, 11:11 AM)weijian Wrote:

(10-04-2021, 12:51 PM)touzi Wrote: Rats ! They sure take a long time. I wonder what did J&J do to convince Keppel.

To be honest. It wasn't exactly hard to predict this. I don't think J&J had to do much, the institutional imperative was more prevalent IMHO.

https://www.valuebuddies.com/thread-3645...#pid160974

So what took them so long and after extension of deadline?

Thank you valuebuddies for your kind sharing.

PIL is a multi-baggers for me and other than luck, it would be due to the kind sharing of our valuebuddies, in particularly moderator cy.

Gratitude.

Moving forward, I hope that I could be given a chance and become PIL shareholder again as I felt that PIL is a great company, chartered skillfully by 2 business-savvy and smart captains J&J.

I do hope to be vested again.
Based on my trading record, I sold out on week 22nd Mar 2021, of course, at a price of 65 cents and I felt that Keppel too sold out on the same week.

This was announced last Friday:
Date of acquisition of or change in interest: 01-Apr-2021

KS Investments Pte. Ltd ("KSI") became aware on 9 April 2021 of the date of change in interest in the Listed Issuer after it sighted a CDP letter, which was received in the afternoon of 8 April 2021, notifying of the change arising from the acceptance of the voluntary cash offer made by Emet Grace Ltd for the Listed Issuer.

The date of change (sold) was 1st Apr 2021 and the changes was noted in CDP letter. Likely the change was made sometime around week 22nd Mar 2021 (similiar to me).

The rationale for me to sold out was actually reminder letter dated 19th Mar 2021.  It stated clearly: 
All FAAs, FATs and/or other relevant document(s) received after 5.30 p.m. (Singapore time) on the Closing Date will not be accepted.

Of course, I took actions.
I suppose, Keppel would had taken action too.

Of course, of course, later the extension was given but we had already taken the actions liao.

---

In the beginning, I was thinking that J&J will not be able to take PIL offline and now I still think the same.

My game plan (which I am sharing now, might change the above statement):
1. Sold PIL at 65 cents
2. Wait for PIL to resume trading.
3. At an appropriate time/price, buy back PIL
4. Wait patiently for J&J to take PIL offline

This game plan - if read by the remaining valuebuddies and is executed will means J&J getting closer to 90% - and I don't care.

I wish J&J well and if they could delist PIL on 21st Apr 2021, so be it.

I had benefited from PIL and J&J's contributions and I wish both of them luck and all valuebuddies luck too.

Someone bought PIL at 50,000 shares at 66cents today.

photo-finish indeed... let make a guess, ~88.8%!!! still cannot delist! haha!