Eastern Holdings

I presume since he bought at highest maybe 24.5 cents? It means kind of like set a bottom price for offer, if any? I actually thought he would try to wait for price to drop after no dividends again this year and then make a lousy offer at 25 cents. Seems I am totally wrong...

(01-08-2013, 07:58 PM)smallcaps Wrote: I presume since he bought at highest maybe 24.5 cents? It means kind of like set a bottom price for offer, if any? I actually thought he would try to wait for price to drop after no dividends again this year and then make a lousy offer at 25 cents. Seems I am totally wrong...

I suppose you should stop simply looking at the share price alone, and instead focus more on the fair intrinsic or realisable value of the underlying assets existing in the group backing each Eastern Holdings share. In this regard, the past Circular to Shareholders (dated 13Jul12) containing the valuation by DMG & Partners Securities (as the IFA) should be a very useful guide - especially the Revalued NTA/share at $0.353 (as at 31Mar12)......
http://infopub.sgx.com/FileOpen/44870442...ileID=3129
Of course we should add to it the gains from the recently concluded property disposals, and the additional revaluation surplus on property assets held in the latest B/S as at 31Mar13.

I suppose most remaining minority shareholders are now 'battle hardened', and it would be foolhardy for Stephen Tay to think he could just offer a 'lousy' price to privatise Eastern Holdings in a 2nd attempt.

(01-08-2013, 07:58 PM)smallcaps Wrote: I presume since he bought at highest maybe 24.5 cents? It means kind of like set a bottom price for offer, if any? I actually thought he would try to wait for price to drop after no dividends again this year and then make a lousy offer at 25 cents. Seems I am totally wrong...

24.5cts is highest record price for the past 5 years.
I am surprised as well ST bought from the market. This also set the floor price for GO, if it happen for the next 6 months.

It also means unlikely that there will be dividend as well. Reasons being that by giving out dividend, this will reduce the overall NAV, and yet GO price is set at minimum of 24.5cts for the next 6 months.

This 24.5 cents is the minimum price only IF the VOLUNTARY offer comes in within 3 months from yesterday. For VGO, reference price is highest price for the 3 months period.

If 3 months, then that will be like just before the 1H14 results where lots of profit would be announced. Guess we'll have to see if ST keeps buying... quite hard also since illiquid.

Maybe its because minority shareholders kept up such a strong resistance at the AGM. Fed up with us, hehe.

There's 666 shareholders holding 10 lots to 1000 lots, wonder how many r die hard dun sell.

(01-08-2013, 10:56 PM)smallcaps Wrote: If 3 months, then that will be like just before the 1H14 results where lots of profit would be announced. Guess we'll have to see if ST keeps buying... quite hard also since illiquid.

Maybe its because minority shareholders kept up such a strong resistance at the AGM. Fed up with us, hehe.

There's 666 shareholders holding 10 lots to 1000 lots, wonder how many r die hard dun sell.

haha... can share how minority shareholders put up a resistance, it sounds interesting... i am also a shareholder, just that i couldnt attend the AGM

Well thanks to an activist shareholder, minorities were a much more coordinated than in previous agms and came prepared with a barrage of questions and counters (4+ hours leh). Probably could feel that we r die hard won't sell minorities...

(01-08-2013, 11:20 PM)smallcaps Wrote: Well thanks to an activist shareholder, minorities were a much more coordinated than in previous agms and came prepared with a barrage of questions and counters (4+ hours leh). Probably could feel that we r die hard won't sell minorities...

kk thanks, it must have felt very good to be part of this minority camp when everyone is hoping to be fairly treated by management, i really wish i was there too

Also, this was the first time actually felt got chance that the new ID would look after minorities and help to keep management in check. He was well prepared and seemed to be knowledgeable about company stuff and rules. Bothered to explain to us and seemed sincere. Not a pushover either.

Didn't realize Bryton House is already rented out? Have not been there since quite long ago...

http://www.interior-affairs.com.sg/contact.html

Quote:12 Hoy Fatt Road, Bryton House,
#02-01 Singapore 159506

Seems like got some promotion going on now.