800 Super
18-06-2019, 08:22 AM
Offeror has achieved valid acceptances representing 90.82% of total outstanding shares. What a shame. Should have sold this two years ago.
https://links.sgx.com/FileOpen/800%20Sup...eID=563762 
25-06-2019, 02:22 PM
(18-06-2019, 08:22 AM)karlmarx Wrote: Offeror has achieved valid acceptances representing 90.82% of total outstanding shares. What a shame. Should have sold this two years ago. I have a question, if i originally rejected the offer. Now that it's reached 90%. Are my shares automatically sold?
25-06-2019, 04:11 PM
Unless the offeror has managed to secure the rights to compulsorily acquire the remaining shares from the minority shareholders, your shares will not be automatically sold.
You have the choices of accepting their offer or becoming a minority shareholder of an unlisted company. (25-06-2019, 02:22 PM)ikur1 Wrote:(18-06-2019, 08:22 AM)karlmarx Wrote: Offeror has achieved valid acceptances representing 90.82% of total outstanding shares. What a shame. Should have sold this two years ago. If by 'reject,' you mean that you did not submit the acceptance form, then you did not really 'reject,' because the offer has been extended till 8 July 2019. So if you wish to accept the offer, you still have the time to do so. Your shares will only be automatically sold if the offeror exercises their right to compulsorily acquire the remaining outstanding shares. My opinion is that a CA is likely to happen, reason being that I doubt that they will want to have any opmi shareholders. But if you do manage to become one, I will not be unduly worried, since they will need to declare dividends to pay the $30m++ loan from KKR that is used to finance this offer. My hunch is that, 4-5 years in the future when their plant operations have reached maturity, 800 Super will be re-listed again, probably positioned as a yield play. Maybe other VBs with more corporate action experience may give their inputs. |
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