SuperBowl Holdings

[yeokiwi]

it could get stuck at 75cents for next 2 years

ya.. if the father reconciles with his kids, then whole buyout will be called off.
Otherwise, the father still needs $$$(cash).
The Teo brothers have not enough money currently. Their only way is to use Hiap Hoe's $$$ to pay Superbowl then pay their father.

I think 75cts is not likely to get through.

[opmi]

it could get stuck at 75cents for next 2 years

ya.. if the father reconciles with his kids, then whole buyout will be called off.
Otherwise, the father still needs $$$(cash).
The Teo brothers have not enough money currently. Their only way is to use Hiap Hoe's $$$ to pay Superbowl then pay their father.

I think 75cts is not likely to get through.

Die die SB Offer will get thru one to pay Old Teo. Despite what young Teo said at EGM.
If at 75 cents, cannot get 90%, just change offer to unconditional offer lor. Offer price wont change, $$$ will still flow out to HH Pte.

At HH EGM, CFO said bank loan for Oz projects. HH used it cash balance to pay for SB Offer.
Hello. Money is fungible. I also can say bank loans for SB Offer and cash for OZ projects.

[Swinger]

If no likelihood of revision in price what is the motive behind Mr Siah continued buying up further stake. Won't there be a risk of his $$ get locked up in SB if the deal fails to go thru.

Similarly, shareholders already can cash out at 75 cts but not many are biting. What will happen if the acceptance is less than 90% (and offer revised to unconditional) as one of the stated objective is to privatise SB. Does that mean SB will remain listed?

[opmi]

If no likelihood of revision in price what is the motive behind Mr Siah continued buying up further stake. Won't there be a risk of his $$ get locked up in SB if the deal fails to go thru.

Maybe he is hoping to block the 90% compulsory acq. If that is his intention, he should publish a letter on newspaper stating his view on the offer and his intention not to take up the offer. That should signal to other investors not to take up offer. Investors need people to 带头。

Maybe he is just posturing. Hoping to get a few cents more. I think he hold a lot of HH shares too. If he want to stop the deal, he would stop it at EGM coz HH Pte cannot vote. So he is trying to balance between having an offer and a higher price. "Most likely intention"

His 5% stake backfire on him. See below.

Similarly, shareholders already can cash out at 75 cts but not many are biting. What will happen if the acceptance is less than 90% (and offer revised to unconditional) as one of the stated objective is to privatise SB. Does that mean SB will remain listed?

Depends on the acceptance level. If it is more than 85% acceptance, HH can 'suggest' suspension of trading to 'encourage' others to give up their shares. Coz 85% + Siah 5% = 90%. Failed minimum free float test. 5% is substantial shareholder so considered as 'non-free float'.

Unless Siah is not afraid of owning delisted private shares. Slowly play with HH. But HH Pte already got paid. Everyone except HH minorities happy already.
Only way to get money is when SB (delisted or not) sells the 2 hotels or when the TOP receivables are in.

My opinion only. Read at your own risks.

[Vseeker]

if FrancisSiah+Morph+OneOther "gang up", they already have > 10% to block a mandatory acquisition,
but possibility of counter getting SUSP is there, beside freefloat issue, there is the need to have minimum 500 shrhldrs base for continued listing...

Post-TakeOver, assuming HH do not abort it using excuse of NOT getting minimum 90% acceptance, I think HH will do what HoBee did (post Metropolis acqn, HB went on a divestment spree - disposing off most of its smaller non-core industrial+office assets)... I beli SB will do a string of disposals from its ppty invmnt portfolio, currently these sites are leased to sizzling KTVs, niteclub and massage joints, that does nonthing to enhance image that HH's trying to project - thats of a regional premium real estate group... doing highend luxurious projects
...and there's a high likelihood they will sell DAYs Hotel too, its is physically detached from the "core" of ZSP...
but Ramada+attached Office/Retail block will be kept - that's their new Spore flagship ego...everything else (in SB) can go.

For HH to get the cash outright, simplest path is for SB to dividend upwards. Dissenting SB minorities will get their share of SB's dividends, but "stayers" are probably hoping for a better offer, if not within current offer, maybe in a ReOffer - a year or two down the road... maybe that partly explains why dissenters(the Siahs) are taking a quieter, less-aggressive path ?

At current 75c price, vs price on 21-May2010: SB had appreciated 295%, and vs price 3yrs ago on 01-Jan2011, SB is up 229%
Over the same period, HiapHoe is up 104% and 95% respectively.
..over the same period, SingHldg is up 34% and 16% respectively
and Heeton is up 73% and 75% respectively ... but none can matched Oxley's which cheong 413% from 3yrs ago !!!

I have cash out most of my SBs, but keeping a little to do my moral duty towards that 500 shrhldrs headcounts : )

[Swinger]

Thank you Vseeker, opmi & everyone else for your inputs . . very much appreciated.

[BlueKelah]

81.98% to HH as of 19 FEB

oh there is also $0.005 dividend announced for 14 May
will Superbowl be successfully delisted by then?

[revelationofpyramids]

Nearly 88% now.. just 2% more to delisting Superbowl! Someone big must have sold their shares to Hiap Hoe. Likely Francis Seah or Morph. Sb will sure be delisted. Where will the money flow to... I bet first of all Hiap Hoe that's why the share price is going up. if all the money go to Hiap Hoe that counter will have more upside.

[BlueKelah]

On 21st Feb 2014, Mr Francis Siah disposed 1,112,000 shares via off-market transaction (married deal) with Hiap Hoe Strategic Pte Ltd. Mr Francis Siah was deemed to be interested in the SuperBowl shares held by his wife, Mdm Tan Wan Cher Geraldine (10,008,000 shares) and M/s Elinton Pte Ltd (6,500,000 shares) (by virtue of his share holding in the company).

All shares held by Mdm Tan Wan Cher and M/s Elinton Pte Ltd were disposed in similar fashion, on the same date.

The total disposal of 17,620,000 shares amount to approximately 5.41% of the total number of ordinary shares in SuperBowl Holdings Limited.
=====================================================

More or less done deal loh heh

[revelationofpyramids]

Shareholders of SB have sold all their shares and switched to Hiap Hoe including all the bigger minority shareholders. This explain why Hiap Hoe shares have been going up.