The Hour Glass

I thought yesterday's 2 announcements are significant for closer scrutiny..
https://links.sgx.com/1.0.0/corporate-an...c8f2409ab9
https://links.sgx.com/FileOpen/New%20Hol...eID=712852

THG has 705,011,880 issued shares. Until yesterday (20Apr22), the company has bought back 24,925,000 shares - equivalent to 3.5354% of the 705,011,880 shares - leaving now 680,086,880 issued shares outstanding. The active buyback - with the highest price paid being $2.40724 yesterday - has on one hand reduced the number of minorities and their total percentage shareholding, and on the other hand has indirectly helped raise the Tay Family's interest.

The Tay Family's total shareholdings of 472,562,307 shares is now equivalent a total 69.4855% combined interest. If we include miscellaneous shareholdings held by friends and relatives, the Tay Family probably has influence/control of a few more percents.

Though it may appear just as a motherhood statement, the last para of the second announcement (reproduced below in full) is telling minority shareholders to please look after their interests by holding on to their THG shares..

Shareholders and potential investors of the Company are advised to read this announcement and any
further announcements made by the Company carefully. Shareholders and potential investors of the
Company are advised to refrain from taking any action with respect to their securities in the Company
which may be prejudicial to their interests, and to exercise caution when dealing in the securities of the
Company. Shareholders and potential investors of the Company should consult their stockbrokers, bank
managers, solicitors or other professional advisers if they have any doubt about the actions they should
take.

THG continues buy-back up to $2.45/share... since Tay's already had 70%, need another 20% to go to delist...

To hit 20%,
FMR has <7%, so offer FMR a good price to sell,
Rest 13% , to buy est. open market purchase,141,000,000 shares,

this will continue to push THG's share prices higher and higher...

FMR continues to sell, now <6.43% holdings, average sell price : 2.46 / share..
price is sweet spot...

Using the 1H result numbers as a basis...
https://links.sgx.com/FileOpen/THGL_1H_F...eID=690513
, and bearing in mind 2H (ending Mar22) is usually much stronger, what are the chances that full-year net profit would hit $150.0m? At $150.0m, EPS would be approx. $0.22. Full-year result is due in 2 weeks.

(06-05-2022, 01:01 PM)dydx Wrote: Using the 1H result numbers as a basis...
https://links.sgx.com/FileOpen/THGL_1H_F...eID=690513
, and bearing in mind 2H (ending Mar22) is usually much stronger, what are the chances that full-year net profit would hit $150.0m? At $150.0m, EPS would be approx. $0.22. Full-year result is due in 2 weeks.

Boss Tay is providing FMR a sell opportunity, and FMR has bitten at 2.45-2.5 range..
I am assuming FMR will sell slowly and eventually sell all to Boss Tay for his privatization plan,

gut feel is that there will NOT have extra-ordinary dividends as THG needs the funds to keep doing share-buy backs for another 20%...

Waiting for Boss Tay to prove me wrong otherwise!

brattzz, for discussion sake, if the Tay Family or a consortium spearheaded by the Tay Family makes a GO at $2.88, and together the company pays out a $0.08/share final dividend, would you support the deal?

(06-05-2022, 02:59 PM)dydx Wrote: brattzz, for discussion sake, if the Tay Family or a consortium spearheaded by the Tay Family makes a GO at $2.88, and together the company pays out a $0.08/share final dividend, would you support the deal?

2.96 is a very generous offer already... will sell and say a big thank you to Boss Tay!


well play sir!

(06-05-2022, 02:59 PM)dydx Wrote: brattzz, for discussion sake, if the Tay Family or a consortium spearheaded by the Tay Family makes a GO at $2.88, and together the company pays out a $0.08/share final dividend, would you support the deal?

If the Tay Family has wanted to do this, why would they not have directly acquired shares from the market in their own capacity over the past 1-and-half years? But instead have THG buy back its own shares?

THG would have to acquire so many more shares in order for Tay Family to increase their stake by 1% as compared to Tay Family buying directly from market.

(07-05-2022, 08:11 AM)Choon Wrote: If the Tay Family has wanted to do this, why would they not have directly acquired shares from the market in their own capacity over the past 1-and-half years? But instead have THG buy back its own shares?

THG would have to acquire so many more shares in order for Tay Family to increase their stake by 1% as compared to Tay Family buying directly from market.

I am not exactly sure, but controlling shareholder(s) are not allowed to buy >0.5% every 6 months, otherwise under the Rules they are obliged to do a GO.

Besides, the company buying back shares - under the 10% share buyback mandate -  at increasing prices over a period of time, helps to mop up shares from the smaller or less informed shareholders, and reduce the number of minority shareholders.

yeah, once THG buys all FMR portion <6.5% at current $2.50 range, there are only left less than 14% minority shareholders to buy back from market to hit >90% holdings and MGO liao...

looks like a done deal and will happen within this 1-2 years.. 2022-2023, be patient and wait for the final offer!

on the table, $2.90-$3.00 offer price is very reasonable liao... (based on FMR's market sell bite price $2.50 x 20%), FMR sets the baseline for the market pricing,
standard statement : "fair and reasonable" offer report by independent advisors,