Goodpack

[opmi]

Reading through the 21pages announcement, i noticed there is no clause saying "THE OFFEROR DOES NOT INTEND TO FURTHER REVISE THE REVISED OFFER PRICE
OF S$4.05 FOR EACH OFFER SHARE" which we always see in GO.

Is this clause not applicable on SOA or is there a chance that KKR will revise the price $2.50/share if 75% voted against it.

Also, what happens if some of my Goodpack shares are bought under CPF, how do i use them to vote?

Of course, can revise the offer price. Just issue supplementary circular. Before must be before the EGM.
the vote is final.

CPF shareholders cannot vote coz their names not on register of members. Only their CPFIA agent bank can.
Don't know can give instructions for agent bank to vote.


Sent from my iPad using Tapatalk

[CityFarmer]

SOA is meant to make the entity fully owned, reorg whatever is what the offeror claim They could be asset stripping whatever behind the curtains but I digress.

No problem. They mean the same in our context. I am just using the same terminology as in CA 210.

SOA is not going to be effective in the case of say CMA because minorities likely to have more hands than the major shareholder On the other hand (pun intended) small companies can organise a lot of "own people" turn out to overwhelm the minorities. In Neratel case they underestimated whereas Meiban was a simple walkover even though I dissented

I disagree. The SOA is a double-side sword. I really doubt majority shareholder can organize enough voter, if minorities are serious to vote it down. For example, in Penguin, a small company, the number of shareholders with 1 mil shares and below are more than 8K, versus only 49 for those above 1 mil shares.

[opmi]

I disagree. The SOA is a double-side sword. I really doubt majority shareholder can organize enough voter, if minorities are serious to vote it down. For example, in Penguin, a small company, the number of shareholders with 1 mil shares and below are more than 8K, versus only 49 for those above 1 mil shares.

The GLC EGM I mentioned above, did organised/encouraged the employees/shareholders to vote FOR in the IPT AGM. A banquet hall full of them. I have the photos of them queuing to register with the GLC employee passes. No joke.

[CityFarmer]

I disagree. The SOA is a double-side sword. I really doubt majority shareholder can organize enough voter, if minorities are serious to vote it down. For example, in Penguin, a small company, the number of shareholders with 1 mil shares and below are more than 8K, versus only 49 for those above 1 mil shares.

The GLC EGM I mentioned above, did organised/encouraged the employees/shareholders to vote FOR in the IPT AGM. A banquet hall full of them. I have the photos of them queuing to register with the GLC employee passes. No joke.

I don't know much on GLC, and the EGM. I assume many employees owned the company shares, which is common, and thus the observation. It shouldn't be concluded as the employees are "organized" to vote FOR, unless further evidences exist.

At the end of the day, the employees was voting on the prospect of their own money.

[opmi]

I disagree. The SOA is a double-side sword. I really doubt majority shareholder can organize enough voter, if minorities are serious to vote it down. For example, in Penguin, a small company, the number of shareholders with 1 mil shares and below are more than 8K, versus only 49 for those above 1 mil shares.

The GLC EGM I mentioned above, did organised/encouraged the employees/shareholders to vote FOR in the IPT AGM. A banquet hall full of them. I have the photos of them queuing to register with the GLC employee passes. No joke.

I don't know much on GLC, and the EGM. I assume many employees owned the company shares, which is common, and thus the observation. It shouldn't be concluded as the employees are "organized" to vote FOR, unless further evidences exist.

At the end of the day, the employees was voting on the prospect of their own money.

Yes. the EGM 2-3 pm and Venue far away from their Office (no direct MRT).....that GLC so good to give day-off company-wide???

[AlphaQuant]

the only spanner to KKR will probably be Capital Group and Wong Ngit Liong (i think they hold close to 6% each).

[hongonn]

Bloomberg May 28, 2014 8:35 PM GMT+0800

In the Asia-Pacific region, KKR’s A$3.05 billion ($2.8 billion) proposal to buy Melbourne-based Treasury Wine Estates Ltd., whose labels include Stags’ Leap, Wolf Blass and Beringer, was rejected as too low earlier this month.

[greengiraffe]

http://www.businesstimes.com.sg/premium/...s-20140529

PUBLISHED MAY 29, 2014
KKR's $2.50 a share offer for Goodpack fair, decent: analysts
Offer price implies multiple of 17.5 times the expected earnings for 2015
BYJOYCE HOOI
joyceh@sph.com.sg @JoyceHooiBT

Loss per share came up to RM1.8 cents for the quarter, compared to loss per share of RM2.1 cents a year ago, due to an enlarged weighted average number of ordinary shares from 89,320 to 136,400 - PHOTO: SPH
GOODPACK shareholders should take the money that private equity firm KKR is putting on the table, several research houses said yesterday.
One of them, CIMB Research, called the offer of $2.50 a share for the pac-kaging logistics company "fair", while a DBS Group Research report deemed it a "decent offer price".
"While the offer price represents only 7 per cent premium to the prior closing price, we believe that investors have already largely priced in a takeover scenario," the CIMB Research report said.
In the time between Goodpack's announcement in March that a possible transaction was in the works and its announcement of the KKR offer this week, its share price climbed 15 per cent.

[grubb]

Went to read through the Meiban and Neratel offer documents. For the court meeting it says "not less than 75% in value of the Shares voted".

Is this by poll or by show of hands?

[hh488]

Somebody selling down fast.

What could be the reason? Deal is off?