San Teh

[AQ.]

My guess is that one or more of Shanghai Anting mall/Nantong hotel/PVC plant will be sold in the next 2-3yrs for a substantial sum of money.

Let's see if I'm right in 2-3yrs time, if the offer fails.

[pianist]

Alrite, I shall join you to hold on, let watch the show unfolds

[Hwee999]

Hope to hear comments from all of you: My shares were bought at $0.633 (total value $9,170). Now offer is $0.28 (total value $4,030). Offer is half of NTA value. My worry is: If I don' t accept: If the Offeror manages to get >90% shareholding & delists the company & doesn't buy back my shares: then I will be stuck with delisted shares. I'm reading the offer book: It looks like it's possible to happen this way. What do you think? Thanks...

[Hwee999]

Further to my previous comment:
1) Am I correct that there's a possibility that I might be stuck with delisted shares, which the largest shareholder doesn't buy back from me?
2) Where can I contact the other small shareholders, to ask what are the current views?
3) Where can I see how many small "public" shareholders are there now?
Please help me quickly. I didn't realize the problem until now. Thanks!

[ghchua]

Hi Hwee999,

If the offeror manages to to get >90% shareholding, it had stated that it intends to exercise its rights to compulsory acquire all the offer shares of shareholders who did not accept the offer and then delist the company. Please refer to the offer document. All the information is there.

[pianist]

Did the shares actually reached so high at 0.633 previously?
Since u already hold so long, why not hold it longer together with us?

[Hwee999]

Hi ghchua, I called CICF (CEL Impetus), the representative of the Offeror. He said CDP hasn't contacted him as of today 3pm, so the 90% acceptance level hasn't reached as of perhaps yesterday. He said there's no chance that the company will be delisted & I'm stuck with delisted shares, because: (1) If reach 90% after tomorrow, the offer must become Unconditional, all shareholders will be given another 14days to accept same offer of $0.28. (2) If don't reach 90%, the whole offer is invalid, all shares will be returned.

Hi pianist, these shares were bought by a family member who passed away, no proper record was kept, I found the likely purchase price to be roughly $0.633, which could be in late-2011. Since I anyway won't be stuck with delisted shares, I'll NOT accept the offer. I remember for the case of Kingboard Copper, because some shareholders chatted at AGM (happened to be during offer period), we trusted a substantial shareholder who said he wouldn't accept a similarly much-lower-than-NTA offer from the largest owner, so we didn't accept the offer. Roughly 2years later, the same largest owner offered higher price, I then accepted it.

[ghchua]

Hi ghchua, I called CICF (CEL Impetus), the representative of the Offeror. He said CDP hasn't contacted him as of today 3pm, so the 90% acceptance level hasn't reached as of perhaps yesterday. He said there's no chance that the company will be delisted & I'm stuck with delisted shares, because: (1) If reach 90% after tomorrow, the offer must become Unconditional, all shareholders will be given another 14days to accept same offer of $0.28. (2) If don't reach 90%, the whole offer is invalid, all shares will be returned.

Hi pianist, these shares were bought by a family member who passed away, no proper record was kept, I found the likely purchase price to be roughly $0.633, which could be in late-2011. Since I anyway won't be stuck with delisted shares, I'll NOT accept the offer. I remember for the case of Kingboard Copper, because some shareholders chatted at AGM (happened to be during offer period), we trusted a substantial shareholder who said he wouldn't accept a similarly much-lower-than-NTA offer from the largest owner, so we didn't accept the offer. Roughly 2years later, the same largest owner offered higher price, I then accepted it.

Hi Hwee999,

Please refer to the latest announcement below:
https://links.sgx.com/1.0.0/corporate-an...1663c07efe

As of today, they have already gotten 89.83%. They have also extended the offer closing date. I really don't know what you mean by "I'm stuck with delisted shares".

[Hwee999]

Hi ghchua, thanks for update. I computed: This means Offeror now only needs 576,833 shares to reach 90%. From Annual Report as at 18Mar2019, no. of shareholders with 1 to 10,000 shares is 2,501. No. of shareholders with 10,000 to 1million shares is 966. Don't know how many people comprise the 576,833 shares needed to reach 90%, but it's probably not just a few people.

Hi pianist and AQ., what are your views now? Thanks.

[pianist]

I guess u may face the bleak outcome of write off the losses, as its so near to 90%