Guthrie GTS

http://infopub.sgx.com/Apps?A=COW_Corpor...o1mhcYtion

Quote:The IFA’s advice to the Independent Directors on the Offer

“Having considered the aforesaid points including the various factors set out in this letter
and summarised in this section, we are of the opinion that, on balance, the terms of the
Offer are not compelling from a financial point of view, but fair and reasonable and are
not prejudicial to the interests of minority shareholders from a market perspective. Based
on our opinion and accordingly, we advise the Independent Directors to recommend that
Shareholders accept the Offer, unless Shareholders are able to obtain a price higher than
the Offer Price on the open market, taking into account all brokerage commissions or
transaction costs in connection with open market transactions.”

Thank you, management of Guthrie GTS throughout this divestment process: in treating all shareholders (major or minority) fairly and equally; in ensuring that the process is only as painful as it needs to be. Kudos.

Their latest filing is out and they managed to garner only 74%, far from the 90%. Also the 0.89 selling queue is dwindling fast and the buying queue at 0.885 is fierce at 30million shares. All in all I think we can say that the GO is going to fail unless they up the offer price. keeping my fingers cross.

GO is unconditional, offeror will take whatever shares he got when the offer lapse. If not reaching 90%, then Guthrie will still be listing.....

Question is, what will be the impact to the price after offer lapsed?

(29-07-2013, 11:09 PM)desmondxyz Wrote: GO is unconditional, offeror will take whatever shares he got when the offer lapse. If not reaching 90%, then Guthrie will still be listing.....

Question is, what will be the impact to the price after offer lapsed?

Futile question, lol. Its either lower, the same, or higher.. :p

as usual, next quarter numbers, we may start to see waves after waves of impairment charges across the balance sheet..after the failed 1st round of attack on the castle, mortars may start flying across the moat from the invaders..keke..get ready to hold yr shield

(29-07-2013, 11:23 PM)pianist Wrote: as usual, next quarter numbers, we may start to see waves after waves of impairment charges across the balance sheet..after the failed 1st round of attack on the castle, mortars may start flying across the moat from the invaders..keke..get ready to hold yr shield

Nice analogy

(29-07-2013, 11:09 PM)desmondxyz Wrote: GO is unconditional, offeror will take whatever shares he got when the offer lapse. If not reaching 90%, then Guthrie will still be listing.....

Question is, what will be the impact to the price after offer lapsed?

Well I hope it will be lower as I will be able to pick up some on the cheap. Next few qtrs. results in fact will be good as their projects is nearing completion.

(29-07-2013, 11:23 PM)pianist Wrote: as usual, next quarter numbers, we may start to see waves after waves of impairment charges across the balance sheet..after the failed 1st round of attack on the castle, mortars may start flying across the moat from the invaders..keke..get ready to hold yr shield

Sorry, I am new to this. To my understanding, impairment charge is the writing off of goodwill etc. Are there any such potential write-offs on the balance sheet? They have even went so far to declare that their RNAV is about $1.13 (http://infopub.sgx.com/FileOpen/Guthrie-...eID=248968 Page:34)

Correct me if I am wrong, thanks in advance.

Hi I am also as new as U in this. Keke. Pls enlighten me it would be very much appreciated.

First Closing Date is just 4 days away (7 Aug 2013).

Legally, when is the last minute the Offerrer can
a) revise the offer;
b) extend the Closing Date?