TeckWah

[smallcaps]

According to this announcement, Ho Bee bought 2.4 mil shares @ 35.5 cents from the market last Thursday.

http://info.sgx.com/webcoranncatth.nsf/V...F0031C2F2/$file/FORM3_Airjet_Final.pdf?openelement

TeckWah got so much volume in one day?

[D123]

According to this announcement, Ho Bee bought 2.4 mil shares @ 35.5 cents from the market last Thursday.

TeckWah got so much volume in one day?

The SGX announcement does not say when the transaction or transactions were carried out. Perhaps it could have been carried out over a few days, but reported only later? SGX historical market data and Yahoo! Finance both show only a volume of 326,000 shares traded on 30 May 13.

[smallcaps]

According to this announcement, Ho Bee bought 2.4 mil shares @ 35.5 cents from the market last Thursday.

TeckWah got so much volume in one day?

The SGX announcement does not say when the transaction or transactions were carried out. Perhaps it could have been carried out over a few days, but reported only later? SGX historical market data and Yahoo! Finance both show only a volume of 326,000 shares traded on 30 May 13.

More like need a month to accumulate that amount of shares at that price... Can drag so long before announcing change in substantial shareholder's interest?

[Nick]

I might be wrong - but I thought SSH only needed to report a change in their shareholdings when it amounts to 1% so if took 1 month to acquire sufficient shares to cross the 1% mark, the announcement will only be released at that point. Perhaps fellow buddies can verify this !

(Not Vested)

[smallcaps]

I might be wrong - but I thought SSH only needed to report a change in their shareholdings when it amounts to 1% so if took 1 month to acquire sufficient shares to cross the 1% mark, the announcement will only be released at that point. Perhaps fellow buddies can verify this !

(Not Vested)

Seems you r rite! According to these slide:

http://www.imas.org.sg/uploads/media/201...ations.pdf

Thanks!

[mosi]

I don't know what Baker & McKenzie is smoking. But I have never heard of a 1% discrete step for disclousure. But it could be just me.

In the MAS FAQ revised 23 Nov 2012, it states that:

Reporting Person:
Substantial shareholder/ unitholder of listed issuer

Types of interests to be disclosed:
Changes in percentage level of interests in voting shares/units of listed issuer

Time period for disclosure to be made:
Within two business days of him becoming aware: (a) that he is a substantial shareholder/unitholder; (b) of a change in percentage level of his interest in the listed issuer (while still remaining as a substantial shareholder/unitholder); or © that he has ceased to be a substantial shareholder/unitholder.

So according to MAS disclosure regime, a SSH can possibly squeeze in his/her purchases in 3 days and make the disclosure at the end of day 3.

In this case:
28 May: 313,000 shares
29 May: 250,000 shares
30 May: 326,000 shares
Not quite possible to buy 2.4mil within that time period.

[lanoitar]

No smoke. Singapore Companies Act Sect 83 or Securities & Futures Act Sect 136:

83.—(1) Where there is a change in the percentage level of the interest or interests of a substantial shareholder in a company in voting shares in the company, the substantial shareholder shall give notice in writing to the company stating the information specified in subsection (2) within 2 business days after he becomes aware of such a change.

...

(3) In subsection (1), “percentage level”, in relation to a substantial shareholder, means the percentage figure ascertained by expressing the total votes attached to all the voting shares in which the substantial shareholder has an interest or interests immediately before or (as the case may be) immediately after the relevant time as a percentage of the total votes attached to —
(a) all the voting shares in the company; or
(b) where the share capital of the company is divided into 2 or more classes of shares, all the voting shares included in the class concerned,
and, if it is not a whole number, rounding that figure down to the next whole number.

cif5000 elaborated in this Olam post.

[BlueKelah]

Ho Bee dunno what to do with spare cash or something brewing???

[Nick]

I don't think the buyer is the listed Ho Bee Group. Instead, it is the investment holding company majority owned by Ho Bee chief and it is called Ho Bee Holdings which also owns 70% stake in Ho Bee Group. In other words, the 14% stake in TW is a private investment from Ho Bee chief (and the Holding Company fellow investors) and not the listed Group. Please correct me if I am wrong.

(Not Vested in either)

[smallcaps]

I don't think the buyer is the listed Ho Bee Group. Instead, it is the investment holding company majority owned by Ho Bee chief and it is called Ho Bee Holdings which also owns 70% stake in Ho Bee Group. In other words, the 14% stake in TW is a private investment from Ho Bee chief (and the Holding Company fellow investors) and not the listed Group. Please correct me if I am wrong.

(Not Vested in either)

ic, he must find it undervalued then.... and not because of any synergy with listed Ho Bee's business.