Guthrie GTS

[comdpa]

Guthrie 2007 takeover offer @ $0.395 circular extracts:

(b) The discount of S$0.095 per Share (or 19.4%) of the Offer Price to the NTA per Share
based upon the audited financial statements of the Group as at 31 December 2005;
© The discount of S$0.087 per Share (or 18.0%) of the Offer Price to the NTA per Share
based upon the unaudited financial results of the Group as at 31 December 2006;
(d) The surplus of S$19,739,000 of the valuation by independent experts to real properties
other than investment properties over the unaudited carrying values for such properties as
at 31 December 2006. Should such a surplus be incorporated into the NTA of the Group, it
would result in a Revalued NTA for the Group of S$537,389,000 equivalent to S$0.50 per
Share. The Offer Price represents a discount of S$0.105 per Share or (21.1%) to the
Revalued NTA of the Group as at 31 December 2006;

Final Offer came in at $0.435, implying at 13% discount to last reported RNAV of $0.50

Current unconditional offer of $0.88 vs RNAV of $1.01 also implies a similar discount. Unless of course, the new RNAV is higher than $1.01, then there remains a possibility of revision in offer. Pray hard...

GG

Back then what was the IFA's range of assessed values?
Because the deal was >5years ago, SGX does not have the old IFA circular. Appreciate your insight.