Pertama Holdings (Harvey Norman)

[yeokiwi]

Sh**. i think i missed another goody again!

Drizzt bro, you did a good analysis and I thought you owned some pertama shares.
Anyway, I do not think Mr Harvey will give a much better price. Probably around 70cts.

[Drizzt]

Sh**. i think i missed another goody again!

Drizzt bro, you did a good analysis and I thought you owned some pertama shares.
Anyway, I do not think Mr Harvey will give a much better price. Probably around 70cts.

hi bro, i did an analysis just didnt make a move. hope it made money for you =)

[yeokiwi]

delisting offer at 65cts. one more high dividend stock gone.

[Musicwhiz]

Business Times - 16 Jun 2011

Harvey Norman wants to take Pertama private

By LYNETTE KHOO

PERTAMA Holdings has received a formal proposal from its controlling shareholder Harvey Norman Singapore (HNS) to take the consumer electronics group private.

HNS, which, together with its subsidiary Harvey Norman Ossia (Asia) Pte Ltd (HNO), holds a 77.98 per cent stake in Pertama, has offered to buy the remaining shares it does not already own at 65 cents apiece. The stock of Pertama was last traded at 57.5 cents on June 10.

Pertama will be convening an extraordinary general meeting to seek shareholders' approval for the delisting.

Among the reasons cited for the delisting proposal are the poor trading liquidity for Pertama shares and the unlikely need of the company to raise funds in the foreseeable future.

The exit offer will be conditional upon the delisting resolution being approved by a majority of at least 75 per cent of the total issued shares held by shareholders present and voting, or the resolution not being voted against by 10 per cent or more of the total issued shares held by these shareholders.

The controlling shareholders of Pertama are not required to abstain from voting on the delisting resolution, under SGX listing rules.

HNS, an investment holding firm, is an indirect wholly owned subsidiary of Harvey Norman Holdings Limited (HNL) - an integrated retail, franchise and property firm known for its sale of consumer electronic products and furniture.

SGX-listed firm Ossia International has a 49.4 per cent deemed interest in Pertama through its associated company HNO.

(Not Vested)

[yeokiwi]

Results of the Extraordinary General Meeting
The Directors wish to announce that the resolution to approve the Delisting as set out in the
Notice of EGM dated 18 August 2011 (the “Delisting Resolution”), was not approved at the
EGM held today and accordingly, the Requisite Shareholders’ Approval, namely:
(i) the approval of the Delisting Resolution by a majority of at least 75 per cent. of the
total number of Shares excluding treasury shares held by Shareholders present and
voting, on a poll, either in person or by proxy at the EGM; and
(ii) the Delisting Resolution not being voted against by 10 per cent. or more of the total
number of Shares excluding treasury shares held by Shareholders present and voting,
on a poll, either in person or by proxy at the EGM,
was not obtained.

Hehe... now I am entitled to 5.4cts dividend for this FY.
Going forward, I suppose Mr Harvey will be more willing to dish out higher dividend yearly

wonder what will be the stock price tomorrow...

[CityFarmer]

Profit warning announcement

http://info.sgx.com/webcoranncatth.nsf/V...100316754/$file/Pertama-Profit_Guidance.pdf?openelement

The Group is expected to report a loss for Q1FY2013. The expected first quarter loss is attributable mainly to start-up expenses of new stores in Malaysia coupled with price deflation of consumer electronics products.

At the same time, company shares remain halted, and most importantly HNS has responded as follows in relation to the restoration of the free float:
- HNS does not intend to support any restoration of the free float.
- HNS does not intend, or procure its subsidiary HNO, to sell its direct interest in the Company or support any share placement to restore the free float. The Company currently does not have a share issue mandate which could be used to effect a share placement to restore the free float to above 10 per cent.

http://info.sgx.com/webcoranncatth.nsf/V...1003181A9/$file/Pertama-Free_Float_Update.pdf?openelement

In short, de-listing seems the only way out to divest for minority shareholders...

[CityFarmer]

Bye-bye another stock. The pertama stock's AR is one of the reference on retail business in Singapore, for me...

DIRECTED DELISTING OF PERTAMA HOLDINGS LIMITED

the Board of Directors of Pertama wishes to announce that Pertama will be
delisted from the Official List of the SGX-ST with effect from 9a.m. on Wednesday, 8
January 2014.

Ref: http://infopub.sgx.com/FileOpen/Delistin...eID=269875

[felixleong]

yeah, byebye to pertama
well there's still Courts and Challenger thou ^^

[chialc88]

What's the background story?
Can any sifu summaries what had I missed?

Thank you.