Global Premium Hotels

[Drizzt]

i heard that these guys have a reputation of being very "chow kuan"

[pianist]

offering 3xcents...huat ah
congrats to those vested
budget 2014 angbao comes early this year
who gg to hug hug mr koh this 27th agm? last AR copy just received today coupled with a pleasant late announcement.

[opmi]

offering 3xcents...huat ah
congrats to those vested
budget 2014 angbao comes early this year
who gg to hug hug mr koh this 27th agm? last AR copy just received today coupled with a pleasant late announcement.

10% premium good meh?

joke: While u hug hug him, can help opmi ask "why so little premium har?" hahah..

[pianist]

joke- 10%, xx%, yy%, dydx%? is a relativity issue

[Jack31]

offering 3xcents...huat ah
congrats to those vested
budget 2014 angbao comes early this year
who gg to hug hug mr koh this 27th agm? last AR copy just received today coupled with a pleasant late announcement.

10% premium good meh?

joke: While u hug hug him, can help opmi ask "why so little premium har?" hahah..

Not too bad I think, considering they were just listed 2 years at 26c and dishing out total of 1.6c div during this period.

Vested.

[opmi]

offering 3xcents...huat ah
congrats to those vested
budget 2014 angbao comes early this year
who gg to hug hug mr koh this 27th agm? last AR copy just received today coupled with a pleasant late announcement.

10% premium good meh?

joke: While u hug hug him, can help opmi ask "why so little premium har?" hahah..

Not too bad I think, considering they were just listed 2 years at 26c and dishing out total of 1.6c div during this period.

Vested.

so will you tender to Koh? the intention is to maintain public listing after Offer...

[Jack31]

Just sold all in the open market @335.
Guess that's it, off to other counter.

[greengiraffe]

With a tighter grip on GPH, perhaps share price will gradually moved up to the last reported book value of 64 cents in line with the manner in which other related companies (Fragrance, Aspial, Maxi-$) share prices have been moving...

GPH chairman acquires 75.94% stake in hotel chain
Published on Apr 26, 2014 1:07 AM


Mr Koh is founder, executive chairman and chief executive of Fragrance Group, the GPH holding company.

By Ivan Teo

MR KOH Wee Meng, chairman of Global Premium Hotels (GPH), has amassed a 75.94 per cent stake in the company after the close of his offer on Thursday.

On March 13, Mr Koh announced an offer to acquire shares in GPH for 33 cents each though he said he intended to maintain the company's listing status.

GPH, one of Singapore's largest hotel chains, operates 22 hotels under the "Fragrance" and "Parc Sovereign" brands.

Mr Koh is a non-executive director and a controlling shareholder who commanded about 59 per cent of shares in the company prior to the offer.

His stake is derived mainly through a 52.28 per cent stake held by Fragrance Group, the holding company of GPH. The other 6.8 per cent is held directly.

Mr Koh is the founder, executive chairman and chief executive of Fragrance Group.

In addition, he will not compulsorily acquire the remaining shares as Fragrance Group has given an irrevocable undertaking not to accept the offer or dispose of its shares during the offer.

Mr Koh had earlier stated that he does not plan to lift the offer price or extend the offer period.

He has also argued that he had offered a very attractive price for the shares that would help shareholders realise their investment for cash.

The offer represented a premium of about 13.8 per cent over GPH's last transacted price of 29 cents a share on March 12.

It was also at a premium of 11.9 per cent over the highest closing price for the shares since its initial public offering up to that date.

GPH was listed on the Singapore Exchange two years ago.

The independent financial adviser Provenance Capital appointed to advise the GPH board on the offer said the financial terms set out were fair but not compelling.

In a circular released on April 10, Provenance Capital advised shareholders who take a short- term view to accept the offer or sell their shares on the open market. However, those prepared to take a longer-term view may want to retain all or part of their shareholdings in GPH.

The offer was competitive given the market share price, but not so compelling given the net asset value, according to the circular.

As at Dec 31, 2013, GPH's net assets and net asset value per share were about $673.19 million and 64 cents respectively, the circular said.

GPH's shares rose 0.5 cents to close at 33 cents yesterday.

ivantyh@sph.com.sg

[greengiraffe]

http://infopub.sgx.com/FileOpen/FORM1V2_...eID=295434

Any views on how Koh will enhance the view of his new direct holdings... NTA >$0.60 never mind about the dull earnings outlook...

Not Vested

[ersteam]

I am vested in this company. I did not tender the shares during the recent takeover. I feel the company is still undervalued with NAV of 64 cents