Penguin International

[lonewolf]

Haha, you are counting the days towards 24Mar (Wed) closely. Very likely Offeror would extend the Offer by another 2 weeks to try their luck on more loose shares.

Indeed acceptances and open-market buying at $0.65/share since 9Mar have yielded little progress for the Offeror. Perhaps it is about time to consider raising the Offer to give minorities a fair deal?

Yup. I usually take a keen interest to GO especially for shares that I am vested in.

I am going to say that there will be no extension and no revision.

J&J has already achieved their main objective ie. gain control of the company. Whatever happens from 04 Mar (where they got >50%) onwards is just icing on the cake. And in the improbable situation where they get >90%, then they will happily take the cake too.

[brattzz]

so means keppel not selling their stake at low-ball offer... still smart money at play...

[¯|_(ツ)_/¯]

PIL 19Mar2021@60.75%

Reminder letter (link)

Closing Date:
Acceptances of the Offer should be received by 5.30 p.m. (Singapore time) on 24 March 2021 or such later date(s) as may be announced from time to time, by or on behalf of the Offeror.

All FAAs, FATs and/or other relevant document(s) received after 5.30 p.m. (Singapore time) on the Closing Date will not be accepted.

[Shiyi]

PIL 19Mar2021@60.75%

Reminder letter (link)

Closing Date:
Acceptances of the Offer should be received by 5.30 p.m. (Singapore time) on 24 March 2021 or such later date(s) as may be announced from time to time, by or on behalf of the Offeror.

All FAAs, FATs and/or other relevant document(s) received after 5.30 p.m. (Singapore time) on the Closing Date will not be accepted.

The offeror has announced that the offer price will not be revised.

[¯|_(ツ)_/¯]

PIL@68.02%

Thanks valuebuddies.

Indeed, the Financial Adviser wishes to announce, for and on behalf of the Offeror, that the Offeror does not intend to increase the Offer Price. Therefore, in accordance with Rule 20.2 of the Singapore Code on Take-overs and Mergers (the "Code"), the Offeror will not be allowed to subsequently amend the terms of the Offer, including the Offer Price, in any way.

The Closing Date of the Offer is extended from 5.30 p.m. (Singapore time) on 24 March 2021 to 5.30 p.m. (Singapore time) on 7 April 2021 (or such later date(s) as may be announced from time to time, by or on behalf of the Offeror).

https://links.sgx.com/FileOpen/Project%2...eID=653002



It had been an excellent ride for me on Fairy Penguin.

First time vested 30+ and sold at 60+.
Second time vested at 40+ and sold yesterday at 65.

Looking forward to be vested again as I think that PIL is in good shape under J&J leadership.

[¯|_(ツ)_/¯]

PIL 24Mar2021@75.68%

https://links.sgx.com/FileOpen/Project%2...eID=653150

as at 6.00 p.m. (Singapore time) on 24 March 2021, the total number of (a) Shares owned, controlled or agreed to be acquired by the Offeror and persons acting in concert with it and (b) valid acceptances of the Offer, amount to an aggregate of 166,623,012 Shares, representing approximately 75.68% of the total number of Shares in the Company.

[Mushy]

The offer had been extended to 7 April on Tue night, but last night business times and some brokerages reported that the offer had closed yesterday.

https://www.businesstimes.com.sg/compani...ter-market

[lonewolf]

Amendment note: An earlier version of the article stated that the offer had closed on March 24. On March 23, Penguin had announced that the offer closing date was extended from March 24 to April 7. The article has been amended to reflect the correct closing date.

[new-comer1]

I can foresee they will keep on extending the offer period so that shareholders who are fed up will eventually sell their shares and J&J will achieve 90%...

Can it be done ?

[ghchua]

I can foresee they will keep on extending the offer period so that shareholders who are fed up will eventually sell their shares and J&J will achieve 90%...

Can it be done ?

The answer is no. There are certain rules in place in terms of milestone events for any takeover offers. The final date is normally 4 months after dispatch of offer document. If the offeror couldn't acquire 90% of the offer shares by then in order to commerce compulsory acquisition, the offer will lapse.