Penguin International

[Shiyi]

Right on cue and eloquently articulated by dydx and prophecised by brattzz, the offer has been extended by 2 weeks to 6 July 2023. The current level stands at approximately 86.83%.

SOURCE: SGX Annoucement

Anybody knows how long can the offer be extended? Is the 60-day rule applied to voluntary unconditional offer?

[dydx]

Yet another CTV - the first and bigger WindFlex-32, and a hybrid-powered boat - delivered this month to German EMS Maritime Offshore..
https://www.incatcrowther.com/news/news-...-industry/

[Reenat]

The buyers have 87.83% of shares as of 5th July 2023. Another extension to 20th July 2023.

The buyers should up the offer instead of extending the offer price.

[ghchua]

Hi Reenat,

The buyers should up the offer instead of extending the offer price.

They cannot increase the offer price already, unless in a competitive situation. This is because they have already said that 83c per share is the final offer price.

[brattzz]

The buyers have 87.83% of shares as of 5th July 2023.  Another extension to 20th July 2023.

The buyers should up the offer instead of extending the offer price.

ouches, this is biased thinking,  buyer will not pay more if they can get away with paying less!

88% is really close!! hold on tight to your shares ppls!

 

[lonewolf]

ouches, this is biased thinking,  buyer will not pay more if they can get away with paying less!

88% is really close!! hold on tight to your shares ppls!

 

I have a feeling that many Penguin shareholders in this forum are still holding on.

[touzi]

I don't intend to accept the offer at current price. Even if it becomes a private company, they will still have to reward shareholders including the 2 main shareholders themselves. I doubt the acceptance level will cross 90% since most people who want to accept would have done so by now.

[ghchua]

I don't intend to accept the offer at current price. Even if it becomes a private company, they will still have to reward shareholders including the 2 main shareholders themselves. I doubt the acceptance level will cross 90% since most people who want to accept would have done so by now.

Hi touzi,

It won't be an unlisted company. As explained by me earlier, if they reach 90% acceptance, they will compulsory acquire the remaining shareholders out there and delist the company. If they cannot hit 90%, the company will remain listed on SGX.

[dydx]

2 crewboats (out of 5 under an order placed by long-standing customer Miclyn Express Offshore (MEO) Group in 2022) were delivered 2 weeks ago..
https://www.linkedin.com/posts/james-mum...member_ios

The above deliveries are confirmed in MEO's latest Jun23 edition of MEO Breeze (p11)...https://www.meogroup.com/wp-content/uploads/2023/06/MEOBreeze-Issue-22-June-2023-compressed.pdf

[sgpianolessons]

MPA calls for proposals to design, promote adoption of full-electric harbour craft in Singapore/

https://www.businesstimes.com.sg/singapo...-singapore

To recap, the Ministry of Transport requires all harbour craft operating in the Port of Singapore to be either fully electric, capable of using B100 biofuel, or compatible with net-zero fuels such as hydrogen from 2030 onwards.

Good news for Penguin?