Hafary Holdings

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#31
Their warehouse is right beside the mrt tracks between Paya lebar and Eunos.

I noticed that their lights for the loading bay are always fully switched on at night with no activity going on. Given the light intensity they might be running those high powered metal halide lights.
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#31
Their warehouse is right beside the mrt tracks between Paya lebar and Eunos.

I noticed that their lights for the loading bay are always fully switched on at night with no activity going on. Given the light intensity they might be running those high powered metal halide lights.
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#32
(04-01-2015, 07:27 PM)ValueMushroom Wrote: Yup agree with you we should look at the business : )

This is one of the "trading" buy. I remember reading some years ago Warren Buffett does arbitrage trade, where he makes big bets on take over deals with high chance of completion and profit the price differences.

Think Hafary seems to fit the bill : )
With the Low family owning 37% and agreeing to sell, the 51% deal is very likely to succeed.
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#32
(04-01-2015, 07:27 PM)ValueMushroom Wrote: Yup agree with you we should look at the business : )

This is one of the "trading" buy. I remember reading some years ago Warren Buffett does arbitrage trade, where he makes big bets on take over deals with high chance of completion and profit the price differences.

Think Hafary seems to fit the bill : )
With the Low family owning 37% and agreeing to sell, the 51% deal is very likely to succeed.
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#33
(04-01-2015, 06:38 PM)ValueMushroom Wrote: I did a rough calculation, if I buy at $0.225 and accept 50% of my holdings for $0.24, I will make 3% of the initial investment and left with 50% of my holdings within 3 months which translate to 12% P.A.

The question now is whether the post offer price will drop below $0.225. With 51% of the shares acquired at $0.24, I think a strong price support will be at $0.24?

You could perhaps use leverage to multiply your gains more, a typical strategy for arbitrage transactions.
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#33
(04-01-2015, 06:38 PM)ValueMushroom Wrote: I did a rough calculation, if I buy at $0.225 and accept 50% of my holdings for $0.24, I will make 3% of the initial investment and left with 50% of my holdings within 3 months which translate to 12% P.A.

The question now is whether the post offer price will drop below $0.225. With 51% of the shares acquired at $0.24, I think a strong price support will be at $0.24?

You could perhaps use leverage to multiply your gains more, a typical strategy for arbitrage transactions.
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#34
Hi wanted to check under section 4 IRREVOCABLE UNDERTAKINGS of the announcement, the total holding of the Lows and Ching is 51.18%. Does that means it can already fulfil HSCB 51% acquisition?
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#34
Hi wanted to check under section 4 IRREVOCABLE UNDERTAKINGS of the announcement, the total holding of the Lows and Ching is 51.18%. Does that means it can already fulfil HSCB 51% acquisition?
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#35
(06-01-2015, 04:10 PM)GPD Wrote: Hi wanted to check under section 4 IRREVOCABLE UNDERTAKINGS of the announcement, the total holding of the Lows and Ching is 51.18%. Does that means it can already fulfil HSCB 51% acquisition?

Section 1.1
'...other than those already owned, controlled or agreed to be acquired by the Offeror and parties acting in concert with it as at such date.'.

They will end up with more than 51% after the whole exercise. Maybe upwards of 80%.
It’s good to have money and the things that money can buy, but it’s good, too, to check up once in a while and make sure that you haven’t lost the things that money can’t buy. –George Lorimer
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#35
(06-01-2015, 04:10 PM)GPD Wrote: Hi wanted to check under section 4 IRREVOCABLE UNDERTAKINGS of the announcement, the total holding of the Lows and Ching is 51.18%. Does that means it can already fulfil HSCB 51% acquisition?

Section 1.1
'...other than those already owned, controlled or agreed to be acquired by the Offeror and parties acting in concert with it as at such date.'.

They will end up with more than 51% after the whole exercise. Maybe upwards of 80%.
It’s good to have money and the things that money can buy, but it’s good, too, to check up once in a while and make sure that you haven’t lost the things that money can’t buy. –George Lorimer
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#36
(06-01-2015, 05:54 PM)psolhawk Wrote: They will end up with more than 51% after the whole exercise. Maybe upwards of 80%.

I don't think that is right. Based on my reading of the offer document, they can buy only up to 51% in this partial offer. Those who tender more of their shares for the offer will end up selling proportionately more depending on the actions of those who do not tender their shares.
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#36
(06-01-2015, 05:54 PM)psolhawk Wrote: They will end up with more than 51% after the whole exercise. Maybe upwards of 80%.

I don't think that is right. Based on my reading of the offer document, they can buy only up to 51% in this partial offer. Those who tender more of their shares for the offer will end up selling proportionately more depending on the actions of those who do not tender their shares.
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#37
From section 4 of the offer document, on the irrevocable undertakings, more than 70% of the issued shares have been committed. Does it mean the offer conditions have already been fulfilled?

Due to sudden sell down @ $0.22 today, I have acquired 100 lots.
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#37
From section 4 of the offer document, on the irrevocable undertakings, more than 70% of the issued shares have been committed. Does it mean the offer conditions have already been fulfilled?

Due to sudden sell down @ $0.22 today, I have acquired 100 lots.
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#38
(06-01-2015, 08:35 PM)ValueMushroom Wrote: From section 4 of the offer document, on the irrevocable undertakings, more than 70% of the issued shares have been committed. Does it mean the offer conditions have already been fulfilled?

There are two separate preconditions of interest to the offer going through i.e. sufficient voting for the offer and sufficient acceptance of the offer. Based on the irrevocable understandings, my reading is that both preconditions will be fulfilled.
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#38
(06-01-2015, 08:35 PM)ValueMushroom Wrote: From section 4 of the offer document, on the irrevocable undertakings, more than 70% of the issued shares have been committed. Does it mean the offer conditions have already been fulfilled?

There are two separate preconditions of interest to the offer going through i.e. sufficient voting for the offer and sufficient acceptance of the offer. Based on the irrevocable understandings, my reading is that both preconditions will be fulfilled.
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#39
(07-01-2015, 05:47 PM)nsengkia Wrote: There are two separate preconditions of interest to the offer going through i.e. sufficient voting for the offer and sufficient acceptance of the offer. Based on the irrevocable understandings, my reading is that both preconditions will be fulfilled.

Thanks for confirming : )

Now is waiting for offer letter to arrive.
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#39
(07-01-2015, 05:47 PM)nsengkia Wrote: There are two separate preconditions of interest to the offer going through i.e. sufficient voting for the offer and sufficient acceptance of the offer. Based on the irrevocable understandings, my reading is that both preconditions will be fulfilled.

Thanks for confirming : )

Now is waiting for offer letter to arrive.
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#40
Price went down 1 bid again, seems some players determine to push the price down......
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#40
Price went down 1 bid again, seems some players determine to push the price down......
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