Adampak

[FFNow]

Who else is going to wait till the 11th hour to see what transpires before selling? I think I'm going to do that.

[KopiKat]

navis offer for all the shares amounts to less than $150m. anyone has peter lim's contact? is it ok to try calling him up? or maybe he is unaware of such a small cute prized gem?

If I am an interested 3rd party (if it ever exist or even sensible to do it?), what imaginary game plan should i employ?

It has to be ASAP, since the share hold by navis reaches ~60%. It should plan to acquire >10% (otherwise is a "sure-lose") or a more comfort holding of ~25% with the 1st announcement, probably with an irrevacable undertaking. The new offer price should be marginally above the navis offer price.

Then the 3rd party will occupy a good position for negotiation.

Every 1cts increase by Navis will cost 2.6 Mils. I hope my math does not fail me.

I don't think Peter Lim does takeover battles. Should contact Oei Hong Leong instead. He doesn't even need to take over to derive extra value! See NatSteel saga Part I.

[honeyclover]

Who else is going to wait till the 11th hour to see what transpires before selling? I think I'm going to do that.

already discarded e letter

[CityFarmer]

navis offer for all the shares amounts to less than $150m. anyone has peter lim's contact? is it ok to try calling him up? or maybe he is unaware of such a small cute prized gem?

If I am an interested 3rd party (if it ever exist or even sensible to do it?), what imaginary game plan should i employ?

It has to be ASAP, since the share hold by navis reaches ~60%. It should plan to acquire >10% (otherwise is a "sure-lose") or a more comfort holding of ~25% with the 1st announcement, probably with an irrevacable undertaking. The new offer price should be marginally above the navis offer price.

Then the 3rd party will occupy a good position for negotiation.

Every 1cts increase by Navis will cost 2.6 Mils. I hope my math does not fail me.

I don't think Peter Lim does takeover battles. Should contact Oei Hong Leong instead. He doesn't even need to take over to derive extra value! See NatSteel saga Part I.

Pardon me to get off track with a small story

Peter Lim and Oei HL stories are the key stories changes my perception on common share investment. I was taught to label common share investment as "scam" activity till in my thirties. After i read peter lim 's success in his high profile "divorce" case and Oei's Natsteel case. I started to change my perception and decided to dig in to understand it more, then the new journey begin...

Let's back on track, i agree, if the 3rd party ever exist and put into action, it will act like Oei, rather than Peter Lim.

[FFNow]

Who's going for AGM tomorrow?

[yeokiwi]

http://info.sgx.com/webcoranncatth.nsf/V...C004346BC/$file/Closing_Date_Reminder_Advertisement.pdf?openelement

Advertisement??? That's interesting...
In case some Adampak shareholders have forgotten that they own Adampak shares.. haha.

From 25th to 26th April, they only get 0.6% more.

[dydx]

As at 5 p.m. today (26Apr12), Navis has secured 75.71% of Adampak.....
http://info.sgx.com/webcoranncatth.nsf/V...C004346BC/$file/Dealings_Disclosures_and_Level_of_Acceptance_260412.pdf?openelement

That means Navis has to secure another 14.29% to reach the deciding and critical mark of 90%.

It is also relevant to note that when compared with the position of 75.11% as at 5 p.m. yesterday (25Apr12).....
http://info.sgx.com/webcoranncatth.nsf/V...B00403829/$file/Dealings_Disclosures_and_Level_of_Acceptance_250412.pdf?openelement
, Navis managed to secure another 0.6% today, including buying 3,000 shares from the open-market at $0.42/share (vs. buying 992,000 shares at $0.42/share yesterday).

To solicit support from Adampak's remaining shareholders, Navis has also decided to spend some extra money to put up an ad (likely to be posted in all English newspaper tomorrow) to remind them on the first deadline of their offer set at 5.30 p.m. on 29May12....
http://info.sgx.com/webcoranncatth.nsf/V...C004346BC/$file/Closing_Date_Reminder_Advertisement.pdf?openelement

It appears to me the ground is hardening and this takeover game is entering a more interesting phase!

[FFNow]

I wouldn't be surprised if most of the 14.29% of shares come from investors in this forum...

[AndrewHW]

I'm one of the minority investors and do not think we should let Navis get away with paying $0.42 for this precious cash cow. Adampak has the best balance sheet and cash-flow generation ability that I had been accumulating.

Being part of this and reading the voluntary offer document made me learn a few things:

1) If the offeror obtained above 90% of the shares, SGX may suspend the trading of the shares unless at least 10% of the shares are held by at least 500 shareholders.

2) Section 215(1) of the Companies Act, in the event that the Offeror acquires not less than 90% of the Shares, the Offeror would be entitled to exercise the right to compulsorily acquire all the Shares of Shareholders who have not accepted the Offer (“Non-Assenting Shareholders”) at a price equal to the Offer Price (“Compulsory Acquisition”).

According to my understanding: if more than 10% of the shareholders do not accept the offer, Navis would be force to keep Adampak listed. Or, they have to offer a higher price that just needs to get to the 90% tipping point after which they would then exercise the rights under Section 215(1) of the Companies Act to perform a compulsorily acquisition.

[FFNow]

According to my understanding: if more than 10% of the shareholders do not accept the offer, Navis would be force to keep Adampak listed. Or, they have to offer a higher price that just needs to get to the 90% tipping point after which they would then exercise the rights under Section 215(1) of the Companies Act to perform a compulsorily acquisition.

However, Navis doesn't want to keep the listing status of Adampak according to the documents. If they can't get 90% approval, they have to up the offer to entice the rest.