Dutech Holdings

I am not selling my 400k shares too. This is because the offeror wants to privatize it and he should know that even getting the business at 50c which is less than 2.5 times ev/ebitda is cheap.

Privatisation offers are like a poker game. If you know you have good cards, you should try to play the game till the end. There is no reason to sell your prized Dutech shares in a hurry, especially since the offer is an unconditional one.

Dear all,

The announcement you all had been waiting for:
https://links.sgx.com/1.0.0/corporate-an...cement.pdf

Offer price had been revised to 43.5cts. However, it will be the final offer price.

Can only justify popping a bottle of prosecco!

Now that Offeror has secured 79.03%, if Droege Group (8.8%) and Robert Stone (6.47%) will not bend at the revised offer price of $0.435/share, there may well be one more round - not another revision of the offer price, but based on a final settlement price to be negotiated between Dr Johnny Liu and Dr. Hedda Juliana im Brahm-Droege and Robert Stone for their respective blocks of shares. Without these 2 blocks of share, the Offeror cannot cross 90%, in order to privatise Dutech.

Let's hope the 3 meet for coffee soon.

I bought those shares today at $0.41. Yeah I was the one. This motivated after reading thru the postings here.
The revised price is lower than expected. Now lets see what happens.

(15-07-2021, 11:01 PM)dydx Wrote: Now that Offeror has secured 79.03%, if Droege Group (8.8%) and Robert Stone (6.47%) will not bend at the revised offer price of $0.435/share, there may well be one more round - not another revision of the offer price, but based on a final settlement price to be negotiated between Dr Johnny Liu and Dr. Hedda Juliana im Brahm-Droege and Robert Stone for their respective blocks of shares. Without these 2 blocks of share, the Offeror cannot cross 90%, in order to privatise Dutech.

Let's hope the 3 meet for coffee soon.

Are you saying that the "final price" is still subject to negotiation?

(14-07-2021, 01:15 AM)Yoyo Wrote: Hi weijian

Yes.  First time trying out this method. Has gathered 253k shares todate. (but not chasing price). Hopefully Lady Luck comes home.

Probability is much higher than that of 4D.

My apology for my postings deviating from value investing.

Congratulations to you yoyo and also to everyone who held to or even increased their shareholding.

Hi RC22SG

Thanks. Round 2 - If I do not have to pay any premium, merely transactional cost, why not? Did the first kill of 250k at 43.5c this morning. I like what dydx wrote. Hopefully it materialise.

(15-07-2021, 11:15 PM)Shiyi Wrote:

(15-07-2021, 11:01 PM)dydx Wrote: Now that Offeror has secured 79.03%, if Droege Group (8.8%) and Robert Stone (6.47%) will not bend at the revised offer price of $0.435/share, there may well be one more round - not another revision of the offer price, but based on a final settlement price to be negotiated between Dr Johnny Liu and Dr. Hedda Juliana im Brahm-Droege and Robert Stone for their respective blocks of shares. Without these 2 blocks of share, the Offeror cannot cross 90%, in order to privatise Dutech.

Let's hope the 3 meet for coffee soon.

Are you saying that the "final price" is still subject to negotiation?

Hi Shiyi

Under the Singapore code of Take-overs
https://www.mas.gov.sg/-/media/MAS/resou...CFEDDAEE7D

20 REVISION (page 123)
20.1.2. When revision is required An offeror will be required to revise its offer if it, or any person acting in concert with it, purchases shares at above the offer price or it becomes obliged to introduce a cash offer or to make a cash offer, or to increase the existing cash offer

21 PURCHASES AT ABOVE OFFER PRICE (page 127)
21.1 Highest price paid If an offeror or any person acting in concert with it buys securities in the offeree company at above the offer price (being the then current value of the offer during the offer period), it must increase its offer to not less than the highest price paid for any securities so acquired.

If Dr Johnny Liu and Dr. Hedda Juliana im Brahm-Droege and Robert Stone has agreed on a final settlement price (if higher than 43.5c) for their respective blocks of shares, then by the above requirement, the Offeror has to increase the existing cash offer.  This is the outcome that all of us are looking forward to.