HTL

[Nebula]

If they make use of the white wash clause , then minorities will be left alone .

Yes, that is true. BEM wold have sold out without requiring GDYH to make an offer for the whole company.

seems prejudicial to minorities.

in the announcement, it stated that they aim to realise value for all shareholders.

if the whitewash clause is invoked, then there would be no need for a mandatory offer, and there is no way to realise value for ALL shareholders, therefore i think that they will not use such a clause.

[touzi]

Based on Yihua's announcement, the offer will be in cash. (本次重大资产重组的交易方式为现金支付的方式购买标的公司的股份或资产。)
Yihua also applied to extend their suspension for 1 more month from 7 Nov 2015 so hopefully the deal could be concluded by 7 Dec 2015. However it must be noted that the MOU is till 31 July 2016.

http://finance.sina.com.cn/stock/t/20151...3294.shtml

Thanks for the info, Namralk !

Yihua have halted trading since 28th August ???The Shanghai Stock Exchange announcement from Yihua is a lot more informative than HTL's announcement. 

[greengiraffe]

Seems like this is a highly confusing deal.

HTL's fundamentals have been extremely volatile over the last few years so much so that I have given up tracking.

I m inclined to think that MI are unlikely to benefit from the M&A while the Phua family are more than happy to be selling out as they have been having it very hard for the last few years.

Odd Lots Vested

[beau]

This is my personal speculation on HTL. Back to fundamentals, currently they are still only trading at around their liquidation value, which means that if you purchase the stock now, the operational business as a going concern is free (you pay nothing for it, only their liquidation value). There seems to be too much potential here for me to divest now, also considering the fact that the market is still beaten down from where it was a few months ago. Could this be a multi-bagger? I'd like to wait around longer to find out.

[snapsnap]

updates on HTL International
http://sdb.theedgemarkets.com/2015/SMR/S...yygfh0.pdf

[beau]

Update

http://infopub.sgx.com/FileOpen/HTL_2015...eID=379029

[snapsnap]

24 Nov, 2015: Stocks with Momentum - HTL

HTL International Holdings, a leather tanner and sofa manufacturer, continued its upward trajectory after updating shareholders on Nov 18 that the company may be taken over by a Chinese company.

It said controlling shareholder BEM Holdings had entered into a memorandum of understanding with a unit of Guangdonw Yihua Timber Industry, which may acquire all its shares by way of a scheme or arrangement................................

HTL would then be delisted from the Singapore Exchange.

http://sdb.theedgemarkets.com/2015/SMR/S...x6xaxe.pdf

[opmi]

SOA - this one is like Neratel. Number of hands counts. 

So if low ball, can do a surge of minority shareholders to oppose.


HTL INTERNATIONAL HOLDINGS LIMITED
UPDATE ANNOUNCEMENT
On 27 October 2015, the Company announced that it had received a notification from its
controlling shareholder, BEM Holdings Pte Ltd (“BEM”) that it had entered into a
memorandum of understanding with Guangdong Yihua Timber Industry Co., Ltd
(“Yihua”) in relation to potential corporate transaction(s) which may be assets/shares
related, aimed at realising value for all shareholders of the Company.

On 18 November 2015, the Company announced that it had received a further
notification from BEM that BEM had entered into a framework agreement with Yihua,
further details of which are as set out in the said announcement released on 18
November 2015.

The Company wishes to inform shareholders that it has today received a further
notification from BEM that it is in advanced negotiations with Yihua on finalising the
definitive transaction agreement(s) in relation to the possible acquisition of all the shares
in the Company by Yihua's wholly-owned subsidiary in Hong Kong, Ideal Homes
International Limited, by way of a scheme of arrangement under the Companies Act
(Cap. 50).

BEM has further stated that it will continue to keep the Company updated on material
developments, as and when appropriate, so that the Company can in turn apprise its
shareholders in a timely manner.

Pending further updates from BEM, the Board of Directors advises shareholders to
continue to exercise caution when dealing in the shares of the Company, and to refrain
from taking any action in respect of their investment in the Company without seeking
prior professional advice.

[pianist]

What the exit price

[touzi]

With the targeted date to complete negotiation, 5-Jan just a couple of weeks away, share price has surged above book value!