Offer is 0.97x NAV and 38.5% above last traded price. Rare for an offer to be close to NAV (for companies that practises fair value accounting). I guess maintaining reputation is worth the money to be spent.
VOLUNTARY CONDITIONAL CASH OFFER FOR G. K. GOH HOLDINGS LIMITED AT S$1.26 PER SHARE
The Offer Price for each Share is S$1.26 in cash, and values the Company at approximately S$396.0 million.
The delisting and privatisation of the Company, if achieved as a consequence of the Offer, will allow us to restructure the Company’s asset mix. This will be a long process. Many of the Company’s existing investments are in private equity and venture capital funds which will take time to mature, and which cannot easily be sold or redeemed. We also view the Company’s aged care businesses and assets in Australia and Singapore as long-term in nature, requiring patience and determination to build value. An unlisted, private Company would have greater flexibility to take strategic long-term decisions without as much pressure to deliver profits in the short term, or to incur costs relating to the Company’s obligations as a listed Company.
PR: https://links.sgx.com/FileOpen/Press_Rel...eID=748139
Annoucement: https://links.sgx.com/FileOpen/Offer_Ann...eID=748138
VOLUNTARY CONDITIONAL CASH OFFER FOR G. K. GOH HOLDINGS LIMITED AT S$1.26 PER SHARE
The Offer Price for each Share is S$1.26 in cash, and values the Company at approximately S$396.0 million.
The delisting and privatisation of the Company, if achieved as a consequence of the Offer, will allow us to restructure the Company’s asset mix. This will be a long process. Many of the Company’s existing investments are in private equity and venture capital funds which will take time to mature, and which cannot easily be sold or redeemed. We also view the Company’s aged care businesses and assets in Australia and Singapore as long-term in nature, requiring patience and determination to build value. An unlisted, private Company would have greater flexibility to take strategic long-term decisions without as much pressure to deliver profits in the short term, or to incur costs relating to the Company’s obligations as a listed Company.
PR: https://links.sgx.com/FileOpen/Press_Rel...eID=748139
Annoucement: https://links.sgx.com/FileOpen/Offer_Ann...eID=748138