Adampak

i learn from reading that if the holding > 90%, it is mandatory for remaining shareholder to accept. It mean it will automatically done without any acceptance needed

I hope my understanding is right

Any expert here to advice?

Announcement:

Quote:together with all rights, benefits and entitlements attached thereto as at the Offe rAnnouncement Date and thereafter attaching thereto, including the right to receive and retain all dividends, rights and other distributions and return of capital (if any) declared, paid or made by the Company on or after the Offer Announcement Date. If any dividend, right, other distribution or return of capital is declared, [u]paid[/u] or made by the Company on or after the Offer Announcement Date to a Shareholder who accepts or has accepted the Offer, the Offeror reserves the right to reduce the Offer Price payable to such accepting Shareholder by the amount of such dividend, right, other distribution or return of capital.

Since the dividend payment will be in a couple of months time, doesn't it mean that the offer price will be reduced to 41.0 cents ?

Another thing which I do not quite understand. Considering that Navis is offering $0.42 per share, why is Adampak selling at $0.415 now? Normally for such cases, I would be seeing the price charging to $0.42, making it impossible for any investor to buy it in order to sell it to the offeror.

(03-04-2012, 12:05 PM)Some-one Wrote: Another thing which I do not quite understand. Considering that Navis is offering $0.42 per share, why is Adampak selling at $0.415 now? Normally for such cases, I would be seeing the price charging to $0.42, making it impossible for any investor to buy it in order to sell it to the offeror.

Some investors wouldn't want to wait for another 2 months before they get their cash due to opportunity cost. So they sell it at a slight discount to those who are willing to profit from 0.5 cent gain in 2 months worth of holding (like a Fixed Deposit with a bit more risk).

(03-04-2012, 11:49 AM)Nick Wrote: Announcement:

Quote:together with all rights, benefits and entitlements attached thereto as at the Offe rAnnouncement Date and thereafter attaching thereto, including the right to receive and retain all dividends, rights and other distributions and return of capital (if any) declared, paid or made by the Company on or after the Offer Announcement Date. If any dividend, right, other distribution or return of capital is declared, [u]paid[/u] or made by the Company on or after the Offer Announcement Date to a Shareholder who accepts or has accepted the Offer, the Offeror reserves the right to reduce the Offer Price payable to such accepting Shareholder by the amount of such dividend, right, other distribution or return of capital.

Since the dividend payment will be in a couple of months time, doesn't it mean that the offer price will be reduced to 41.0 cents ?

I have confirmed with Primepartners.
We will receive only 41.0 cents after the dividend.

(03-04-2012, 12:21 PM)cyclone Wrote:

(03-04-2012, 11:49 AM)Nick Wrote: Announcement:

Quote:together with all rights, benefits and entitlements attached thereto as at the Offe rAnnouncement Date and thereafter attaching thereto, including the right to receive and retain all dividends, rights and other distributions and return of capital (if any) declared, paid or made by the Company on or after the Offer Announcement Date. If any dividend, right, other distribution or return of capital is declared, [u]paid[/u] or made by the Company on or after the Offer Announcement Date to a Shareholder who accepts or has accepted the Offer, the Offeror reserves the right to reduce the Offer Price payable to such accepting Shareholder by the amount of such dividend, right, other distribution or return of capital.

Since the dividend payment will be in a couple of months time, doesn't it mean that the offer price will be reduced to 41.0 cents ?

I have confirmed with Primepartners.
We will receive only 41.0 cents after the dividend.

Ok thanks. That explains why the share price isn't trading at 42.5 cents.

(03-04-2012, 12:21 PM)cyclone Wrote:

(03-04-2012, 11:49 AM)Nick Wrote: Announcement:

Quote:together with all rights, benefits and entitlements attached thereto as at the Offe rAnnouncement Date and thereafter attaching thereto, including the right to receive and retain all dividends, rights and other distributions and return of capital (if any) declared, paid or made by the Company on or after the Offer Announcement Date. If any dividend, right, other distribution or return of capital is declared, [u]paid[/u] or made by the Company on or after the Offer Announcement Date to a Shareholder who accepts or has accepted the Offer, the Offeror reserves the right to reduce the Offer Price payable to such accepting Shareholder by the amount of such dividend, right, other distribution or return of capital.

Since the dividend payment will be in a couple of months time, doesn't it mean that the offer price will be reduced to 41.0 cents ?

I have confirmed with Primepartners.
We will receive only 41.0 cents after the dividend.

No wonder it is trading at 41.5 cents instead of 42 cents. Thanks for the clarification.

(02-04-2012, 08:56 PM)FFNow Wrote: Does Navis Capital have a website? I can't seem to find it in google.

http://www.naviscapital.net/

Anyone in this forum started selling their holdings already?

(04-04-2012, 12:13 AM)secretinvestors Wrote: Anyone in this forum started selling their holdings already?

If we sell it now, we would not be entitled to the dividend and we would not be maximising the return.