Offer for FHT is in….
+ S$ 0.70 all-cash. + Acquirer is Frasers Property (FP).
+ As of noon today, Trading Halt is still in-force. Orders not being purged.
+ My first scan of the offer documentation:….I’ll need to be read it again - this time darn carefully. Some blatantly misleading stuff in the pack IMO, e.g. using a 7th April Share Price as the “last transacted price” on the basis it was the “last undisturbed price” - on 8th April, FHT disclosed a rather generic “Response to Media Enquiries” announcement to the SGX. I ain’t buying it.
+ Presentation Pack presents a litany of all FHT’s terrible prospects. Then why is FP aiming to acquire it? Again, I ain’t buying it.
FP needs a 75% vote of the minorities to acquire (TCC, FP, >5% Shareholders will abstain). As things stand, I’ll be among the 25%. Price is too low. I’m hoping 70 cents is just the Opening salvo. HANG ON would be my recommendation to those Vested.
Vested in FHT.
+ S$ 0.70 all-cash. + Acquirer is Frasers Property (FP).
+ As of noon today, Trading Halt is still in-force. Orders not being purged.
+ My first scan of the offer documentation:….I’ll need to be read it again - this time darn carefully. Some blatantly misleading stuff in the pack IMO, e.g. using a 7th April Share Price as the “last transacted price” on the basis it was the “last undisturbed price” - on 8th April, FHT disclosed a rather generic “Response to Media Enquiries” announcement to the SGX. I ain’t buying it.
+ Presentation Pack presents a litany of all FHT’s terrible prospects. Then why is FP aiming to acquire it? Again, I ain’t buying it.
FP needs a 75% vote of the minorities to acquire (TCC, FP, >5% Shareholders will abstain). As things stand, I’ll be among the 25%. Price is too low. I’m hoping 70 cents is just the Opening salvo. HANG ON would be my recommendation to those Vested.
Vested in FHT.
RBM, Retired Botanic MatSalleh