China Everbright (formerly: HanKore Environmental Tech Group)

(25-03-2014, 09:06 PM)CityFarmer Wrote: The exercise price is 4 cents, and market price is more than 14 cents. It is a multi-bagger investment...

----------
The Board of Directors (the “Board”) of HanKore Environment Tech Group Limited (the
“Company”) wishes to announce that a warrantholder has on 19 March 2014, exercised
their rights to convert 47,692,402 warrants into 47,692,402 new shares of the Company
(the “New Shares”), at the exercise price of S$0.04 for each New Share

Ref: http://infopub.sgx.com/FileOpen/HanKore_...eID=288370

i thought the major shareholders are not supposed to reduce/increase their holdings in Hankore before due diligence is completed on the RTO.

Well if you look on the bright side, for Mr Chen Dawei to exercise his warrants at this time implies that he believes the RTO is more or less a done deal.

APPROVAL IN-PRINCIPLE IN RELATION TO THE PROPOSED SHARE CONSOLIDATION

1 For 10 Share Consolidation being approved by SGX. Next step is details of RTO's by 30 April.

Is it normal that a company will warn shareholders to exercise caution in trading of the shares of the company?
I don't see this statement in Albedo which had a failed RTO.

http://infopub.sgx.com/FileOpen/HanKore_...eID=294876

FRAMEWORK AGREEMENT FOR THE PROPOSED ACQUISITION BY THE COMPANY OF
ASSETS IN THE ENVIRONMENTAL WATER SECTOR – EXTENSION OF EXCLUSIVITY PERIOD


The board of directors ("Directors") of the Company refers to the announcement dated 30 December
2013 with respect to the Framework Agreement entered into between the Company and China
Everbright Water Investments Limited in relation to the Proposed Acquisition ("Framework
Agreement Announcement"). All capitalised terms used and not defined herein shall have the same
meanings given to them in the Framework Agreement Announcement.

The Board wishes to announce that the Parties have on 30 April 2014 agreed to extend the
Exclusivity Period to 31 May 2014. Save for such extension, all terms and conditions of the
Framework Agreement continue to be binding on the Parties.

Further announcements on the Proposed Acquisition will be made in due course as and when
appropriate.

Shareholders and potential investors are advised to exercise caution when dealing or trading
in the shares of the Company as there is no certainty or assurance that: (i) the Definitive
Agreements will be entered into; (ii) the final terms of the Definitive Agreements with respect
to the Proposed Acquisition will not change from that in the Framework Agreement; and (iii)
the Proposed Acquisition will be proceeded with. Shareholders and potential investors should
consult their stockbrokers, bank managers, solicitors or other professional advisers if they
have any doubt about the actions they should take.

If it is due to pricing issue as suggested by JPM analysts, i guess both parties cannot come to a conclusion on the premium on BV for CEI's water assets to be injected into Hankore. It is a good time for the SGM to occur in the following week as shareholders can seek clarification with David Chen on this.

(vested)

https://markets.jpmorgan.com/research/em...-1381086-0

JPM-pp1
Asia Pacific Equity Research
30 April 2014
China Everbright International
(257 HK)

Negotiations still ongoing with Hankore

· Exclusivity period with Hankore extended to 31 May. China Everbright Int’l (CEI) said it has entered into a supplemental agreement with Hankore, and has thereby extended the exclusivity period of the proposed acquisition to 31 May 2014. The company added that no definitive agreement has been entered into and that the proposed transaction may or may not proceed. (Source: Company announcement, 30 Apr 2014)

· JPM comments: More time likely needed to negotiate on price. We believe most of the due diligence on this transaction has been completed following the four months the two sides had since the original framework agreement was signed. However, the two parties probably need more time to agree on a price, in our view.

(03-05-2014, 11:44 AM)yawnyawn Wrote: Is it normal that a company will warn shareholders to exercise caution in trading of the shares of the company?
I don't see this statement in Albedo which had a failed RTO.

It is a standard paragraph, on major announcements, as common as disclaimer clause.

(03-05-2014, 11:51 AM)yawnyawn Wrote: If it is due to pricing issue as suggested by JPM analysts, i guess both parties cannot come to a conclusion on the premium on BV for CEI's water assets to be injected into Hankore. It is a good time for the SGM to occur in the following week as shareholders can seek clarification with David Chen on this.

(vested)

The valuation on the CEI's WWT assets, is a critical number in the RTO deal. Both CEI and Hankore are listing companies, the deal needs shareholder approvals from both sides.

The recent "correction" after the announcement, serves as an opportunity for those interested. I have take a long position at price below 11 cents. The "offer" only lasted for minutes last Friday.

(vested)

Have to wait till End May 2014?

*not vested*

(06-05-2014, 09:13 PM)brattzz Wrote: Have to wait till End May 2014?

*not vested*

The exclusivity period is extended to 31 May 2014. Yes, likely negotiation concluded by end May 2014, unless another extension.

(vested, and picked-up more yesterday)

cut and paste for VB.

According to HK newspaper Oriental Daily, China Everbright is one of the five central government state-owned enterprises that are allegedly being investigated for corruption.

http://orientaldaily.on.cc/cnt/news/2014...4_001.html

<not vested>

Corruption is nothing new in China and appears to be a way of life. Of course with leadership changes, the current regime will try and find scapegoats from the out of favour faction in order to justify that they are doing their jobs.

Like old chinese saying - new official got 3 fires...

So which is the first group, the rest i know: BOC, Citic, China Merchant, China Everbright...

Odd Lot Vested
GG

(09-05-2014, 01:20 PM)kbl Wrote: cut and paste for VB.

According to HK newspaper Oriental Daily, China Everbright is one of the five central government state-owned enterprises that are allegedly being investigated for corruption.

http://orientaldaily.on.cc/cnt/news/2014...4_001.html

<not vested>