China Merchants Holdings Pacific

[focus]

I sent out the acceptance yesterday. The next milestone for the GO, is to cross the compulsory acquisition level, i.e. 97.59%

(vested and submitted the acceptance)

Sorry just to check, in this situation which the offer is unconditional, will the offerer still up the GO price to get the level of acceptance to 97% for complusory aquisation? And if yes, will those who had send in the acceptance earlier entitled to it? Thanks.

[valuebuddies]

If the offer not turn compulsory by the end of GO, still can sell to the offeror? I am vested thru scb and have not taken any action now. :-(

[Bibi]

If the offer not turn compulsory by the end of GO, still can sell to the offeror? I am vested thru scb and have not taken any action now. :-(

I thought the offer has turned unconditional few days back? meaning you can accept their offer @ $1.02 per share. Unless you like to receive share certificate from them and feel they will list again at HK or Shanghai exchange. Hmm, maybe I sh hv kept a few lots 

[focus]

Just to check, since the GO has turned unconditional, is there a chance that the offerer still increases their price to push it past the compulsory aquisation level? And if yes, would thise submitted their acceptance now entitled to the new price? Thanks.

[Jacmar]

If the offer not turn compulsory by the end of GO, still can sell to the offeror? I am vested thru scb and have not taken any action now. :-(

They already have 96% for outstanding shares and 90% for convertible bonds(convertible bonds is much smaller %age to overall total shares). so if you wait a little bit longer(since they hv extended the offer date to July) you may not have to do anything as they hv a high chance for them to reach 97.6% to do compulsory acq. Darn, no chance for a higher offer from them. Basically game over. 

Anyway in the event if you still hv not sold or accept their offer by closing of of GO in July and they could not do compulsory you will be given a certificate.

[CityFarmer]

If the offer not turn compulsory by the end of GO, still can sell to the offeror? I am vested thru scb and have not taken any action now. :-(

They already have 96% for outstanding shares and 90% for convertible bonds(convertible bonds is much smaller %age to overall total shares). so if you wait a little bit longer(since they hv extended the offer date to July) you may not have to do anything as they hv a high chance for them to reach 97.6% to do compulsory acq. Darn, no chance for a higher offer from them. Basically game over. 

Anyway in the event if you still hv not sold or accept their offer by closing of of GO in July and they could not do compulsory you will be given a certificate.

The flow of events, IMO, should be the followings.

1) Unconditional or fail. We knew unconditional has been achieved.
2) Compulsory acquisition to secure all remaining shares. They can continue to extend the closing date, as long as the date within the final day rule i.e. 60th day rule.
3) If compulsory acquisition fails, the last attempt should be based on the Rules 1307 and 1309 of listing manual i.e. exit offer

[valuebuddies]

I didnt really follow much on the updates and i didnt know that they have extended the dateline to July. As vested thru scb, i was told to give my instruction by 21 June despite the go initial dateline is 30 June. With the extended dateline, i think compulsory exit is very likely, so maybe its wiser for me just to wait.

[CityFarmer]

Base on CDP online, my shares have been transferred out, upon my acceptance. It is an efficient way to confirm the acceptance, rather than waiting for the confirmation letter from CDP.

I don't thing, there is reason not to accept now. You will entitle to price increase (very unlikely) within the GO, and I don't think the exit offer (if ever reach the point), will be difference from the Offer price.

(not vested, after the acceptance)

[jealv]

As I have accept the offer. When will we get the money?

[specuvestor]

Unconditional I think roughly a week or so, if you opted for direct credit from CDP and not cheque.