Eastern Holdings

sorry, I am not vested.

just a general expression.

like what's going to happen to Wing Tai, if the Chengs ever get majority control, the value probably would be locked forever.

not so good an investment with certain shareholders holding more than 50%.

(13-06-2012, 04:18 PM)freedom Wrote: sorry, I am not vested.

just a general expression.

like what's going to happen to Wing Tai, if the Chengs ever get majority control, the value probably would be locked forever.

not so good an investment with certain shareholders holding more than 50%.

I will rather believe EMT (Efficient Market Theory) will work if it is a truly under-value for the GO price. You will see as dydx commented, a negative report from ID and IFA, and most importantly no or few shareholder accept the offer.

The end result is GO fail or GO price adjusted upward

(13-06-2012, 04:30 PM)CityFarmer Wrote:

(13-06-2012, 04:18 PM)freedom Wrote: sorry, I am not vested.

just a general expression.

like what's going to happen to Wing Tai, if the Chengs ever get majority control, the value probably would be locked forever.

not so good an investment with certain shareholders holding more than 50%.

I will rather believe EMT (Efficient Market Theory) will work if it is a truly under-value for the GO price. You will see as dydx commented, a negative report from ID and IFA, and most importantly no or few shareholder accept the offer.

The end result is GO fail or GO price adjusted upward

GO fails, the management can try again and again.

unless the management is so desperate, they have the time to slowly accumulate, especially, when there is a crisis. It could be worse, if the management introduces the second generation into the management and board.

(13-06-2012, 04:40 PM)freedom Wrote: GO fails, the management can try again and again.

unless the management is so desperate, they have the time to slowly accumulate, especially, when there is a crisis. It could be worse, if the management introduces the second generation into the management and board.

"GO fail, the management can try again and again"

Yes true, but minority shareholders can reject again and again Each round it cost management a bomb, but it cost nothing for minority shareholder to said "NO"

Once GO fail, there is restriction that no GO for a fixed period.

There are restriction on price of next GO, if management accumulate from open market 6 months prior of the next GO, the offer price is link with the higher price you paid during the accumulation.

If the management persisted with all the restrictions, and minority shareholder finally have given-up, then it is a deserving reward to the management's persistent. Isn't it?

Shareholders here forget about Europe Crisis is it? Stephen Tay can always use that as an excuse that without his GO, your eastern shares could drop until 10cents! And some more so THINLY TRADED.

Today (13Jun12) is the first market-day after the annoucement of Stephen Tay's GO at $0.18/share on 11Jun12, and his financial advisor CIMB Bank through his acquisition vehicle MBT Holdings P/L has already started mopping up loose shares from the open-market!! CIMB Bank managed to pick up a total of 956 lots by paying an average price of $0.179644/share, and raised Tay's shareholding by 0.319%, to 63.941%.....
http://info.sgx.com/webcoranncatth.nsf/V...C003D0785/$file/Dealings_Disclosure_130612.pdf?openelement

I thought Tay's GO to the minority shareholders is supposed to be a voluntary offer - i.e. minority shareholders will be given enough time and all relevant and up-to-date information before they can/will individually decide whether to accept Tay's offer at $0.18/share? What a super 'kiasu' bank CIMB is! - or shall I also say what an unfair man Tay is! Don't all minority shareholders deserve to first have a proper and fair independent advice from a reputed IFA, as well as a proper and balanced recommendation/advice from the IDs?

(13-06-2012, 08:47 PM)dydx Wrote: Today (13Jun12) is the first market-day after the annoucement of Stephen Tay's GO at $0.18/share on 11Jun12, and his financial advisor CIMB Bank through his acquisition vehicle MBT Holdings P/L has already started mopping up loose shares from the open-market!! CIMB Bank managed to pick up a total of 956 lots by paying an average price of $0.179644/share, and raised Tay's shareholding by 0.319%, to 63.941%.....
http://info.sgx.com/webcoranncatth.nsf/V...C003D0785/$file/Dealings_Disclosure_130612.pdf?openelement

I thought Tay's GO to the minority shareholders is supposed to be a voluntary offer - i.e. minority shareholders will be given enough time and all relevant and up-to-date information before they can/will individually decide whether to accept Tay's offer at $0.18/share? What a super 'kiasu' bank CIMB is! - or shall I also say what an unfair man Tay is! Don't all minority shareholders deserve to first have a proper and fair independent advice from a reputed IFA, as well as a proper and balanced recommendation/advice from the IDs?

Shareholder are well-informed that it is going to be IFA and ID reports, but if they still want to sell, CIMB should pick them up, right?

Those shareholders are hurry to cash-out. Everyone should have freedom to make their choice, either a bad or good choice

After 4 days of GO announcement, the accumulation is around 0.7%, to 64.333% as of 18 Jun 2012. The trend is decreasing.

Is it a clear sign of poor response from shareholders? or it is a wait-and-see game being play?

(13-06-2012, 09:01 PM)CityFarmer Wrote: Shareholder are well-informed that it is going to be IFA and ID reports, but if they still want to sell, CIMB should pick them up, right?

Update - The offeror has amassed a further 3,538,000 shares or about 1.2%. Hmmm the IDs... [from the annual report]

Mr Diong Tai Pew is an independent non-executive director of the Company and Chairman of the Audit Committee. He was
appointed to the Board on 16 May 2011. Mr Diong is also the independent director and chairman of the Audit Committee on
the board Hengyang Petrochemical Logistics Ltd. He is also the independent director and chairman of the Audit Committee
of various overseas-listed companies.

Ms Ong Siew Ting Geraldine is an independent non-executive director of the Company and a member of the audit committee.
She was appointed to the Board on 21 November 1995 and her last re-appointment was on 31 July 2007. Ms Ong, who
holds a Bachelor of Laws with Honours degree from the National University of Singapore, is an advocate and solicitor of the
Supreme Court of Singapore for about 19 years. She has served as a legal advisor with various government bodies and GIC
prior to commencing her own legal practice in 1992.

Don't think they can do much...


Reason why I don't trust the Stephen Tay:

Quote:[CNA May 2009]
SINGAPORE: Mainboard-listed publisher Eastern Holdings said its board of directors is assisting in investigations by the Corrupt Practices Investigation Bureau (CPIB).

It said the directors were interviewed from May 21 to 25.

The investigation is said to involve a loan made by Eastern Holdings to an unrelated third party.

Five of the board members - namely Chairman Stephen Tay, Kenneth Tan, Robbin Lim, William Teo and Geraldine Ong - assisted the CPIB in the case.

So far, only Mr Tay has been issued a summon and he is currently on bail.

Eastern Holdings' main businesses relate to publishing journals and magazines, and its flagship product is the "Motherhood" magazine. - CNA/vm

I don't think it's fair that the Chairman who is out on bail on a CPIB investigation can make a GO for the company.

Note to self - Stop sounding like a sore loser. I know I can vote with my feet but I'm trying to get maximum value out of this bad situation.

(24-06-2012, 12:03 PM)valuenewb Wrote: Update - The offeror has amassed a further 3,538,000 shares or about 1.2%. Hmmm the IDs... [from the annual report]

Mr Diong Tai Pew is an independent non-executive director of the Company and Chairman of the Audit Committee. He was
appointed to the Board on 16 May 2011. Mr Diong is also the independent director and chairman of the Audit Committee on
the board Hengyang Petrochemical Logistics Ltd. He is also the independent director and chairman of the Audit Committee
of various overseas-listed companies.

Ms Ong Siew Ting Geraldine is an independent non-executive director of the Company and a member of the audit committee.
She was appointed to the Board on 21 November 1995 and her last re-appointment was on 31 July 2007. Ms Ong, who
holds a Bachelor of Laws with Honours degree from the National University of Singapore, is an advocate and solicitor of the
Supreme Court of Singapore for about 19 years. She has served as a legal advisor with various government bodies and GIC
prior to commencing her own legal practice in 1992.

Don't think they can do much...

Nothing much is expected , just an honest and professional opinions as insiders