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(15-02-2017, 05:43 PM)cyclone Wrote: 446,544 : 531,600 = 0.84
On 14 February 2017, LIE KHIN SIN acquired additional 531,600 shares for a consideration of $446,544 via market transaction.
The total number of shares held after this acqusition are 7,447,600 shares (6.46% of total number of voting shares).
It turns out to be more interesting than i thought. So instead of Tans accumulating, it's Lie KS.
I have the ticket on hand, i am going to sit on my hand and watch the show.
My views are your Gilbert & Sullivan's:
"The flowers that bloom in the spring, have nothing to do with the case".
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Yes, it is getting interesting. Someone is also trying to push the price above $0.85.
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15-02-2017, 07:53 PM
(This post was last modified: 15-02-2017, 09:01 PM by pianist.)
(15-02-2017, 05:57 PM)ksir Wrote: (15-02-2017, 05:43 PM)cyclone Wrote: 446,544 : 531,600 = 0.84
On 14 February 2017, LIE KHIN SIN acquired additional 531,600 shares for a consideration of $446,544 via market transaction.
The total number of shares held after this acqusition are 7,447,600 shares (6.46% of total number of voting shares).
It turns out to be more interesting than i thought. So instead of Tans accumulating, it's Lie KS.
I have the ticket on hand, i am going to sit on my hand and watch the show. I bought my tickets at 20cents range and still holding....watch movie lo
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44,278 : 52,400 = 0.845
On 15 February 2017, LIE KHIN SIN acquired additional 52,400 shares for a consideration of $44,278 via market transaction.
The total number of shares held after this acqusition are 7,500,000 shares (6.50% of total number of voting shares).
Specuvestor: Asset - Business - Structure.
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Ceasing to be a Substantial Shareholder
4,420,000.00 / 5,200,000 = 0.85
On 20 February 2017 Mr. Yeo Seng Chong, Executive Chairman and Chief Investment Officer of Yeoman Capital Management Pte Ltd, disposed 5,200,000 shares for a consideration of S$4,420,000.00 via off-market transaction.
Specuvestor: Asset - Business - Structure.
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Looks like the lks guy is taking it private 😀
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(21-02-2017, 06:10 PM)cyclone Wrote: Ceasing to be a Substantial Shareholder
4,420,000.00 / 5,200,000 = 0.85
On 20 February 2017 Mr. Yeo Seng Chong, Executive Chairman and Chief Investment Officer of Yeoman Capital Management Pte Ltd, disposed 5,200,000 shares for a consideration of S$4,420,000.00 via off-market transaction.
On 20 February 2017 TAN CHOO PIE @ TAN CHANG CHAI , chairman of Spindex Industries Limited, bought 5,200,000 shares at a consideration of $4,420,000.
Total number of shares held after this purchase are 33,375,670 shares ( (28.93% of total number of voting shares).
Specuvestor: Asset - Business - Structure.
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03-03-2017, 09:26 PM
(This post was last modified: 03-03-2017, 09:39 PM by dydx.)
There are 3 announcements this evening about the GO -
1. DBS (as Financial Advisor to the Offeror, Hong Wei Holdings Ltd, a SPV owned 75% by Spindex's Chairman Mr Tan Choo Pie and 25% by his son and Spindex's CEO Mr Tan Heok Ting) issued an update announcement on behalf of the Offeror that SIC has consented that the GO shall now be implemented as a mandatory general offer (instead of by way of a scheme of arrangement)....
http://infopub.sgx.com/FileOpen/Update%2...eID=442142
DBS has also informed that since the announcement of the scheme of arrangement, the Offeror has been approached by two (2) separate parties who have indicated separate interests to explore a transaction with the Offeror with a view to making an offer for the Company. This is a very interesting development, as the Offeror may now be tempted to sell their 44.68% block of Spindex shares (including 19.21% Mr Tan Choo Pie managed to acquire from some minority shareholders since the announcement of the scheme of arrangement) to one of the 2 interested parties - likely at a higher price than $0.85 that the Tans find attractive enough.
2. On behalf of Spindex's BOD, Mr Chew Heng Ching, the Lead Independent Director, issued a separate announcement to inform that the IDs had on 23Feb17 received an unsolicited letter from a third party with, inter alia, a request to conduct due diligence on the Company, but without any offer or indicative terms. The IDs have requested the third party to specify the questions to which it requires Company information....
http://infopub.sgx.com/FileOpen/Update%2...eID=442167
3. DBS has issued a new Offer Announcement outlining the terms and conditions of the GO now under a mandatory general offer at an unchanged low-ball offer price of $0.85/share and a revised Minimum Acceptance Condition of more than 50% only....
http://infopub.sgx.com/FileOpen/Offer%20...eID=442179
Now with potentially 3 other parties interested in Spindex's business, minority shareholders should just sit tight on their Spindex shares and watch how the show will evolve.
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03-03-2017, 10:09 PM
(This post was last modified: 03-03-2017, 10:11 PM by ksir.)
(03-03-2017, 09:26 PM)dydx Wrote: There are 3 announcements this evening about the GO -
1. DBS (as Financial Advisor to the Offeror, Hong Wei Holdings Ltd, a SPV owned 75% by Spindex's Chairman Mr Tan Choo Pie and 25% by his son and Spindex's CEO Mr Tan Heok Ting) issued an update announcement on behalf of the Offeror that SIC has consented that the GO shall now be implemented as a mandatory general offer (instead of by way of a scheme of arrangement)....
http://infopub.sgx.com/FileOpen/Update%2...eID=442142
DBS has also informed that since the announcement of the scheme of arrangement, the Offeror has been approached by two (2) separate parties who have indicated separate interests to explore a transaction with the Offeror with a view to making an offer for the Company. This is a very interesting development, as the Offeror may now be tempted to sell their 44.68% block of Spindex shares (including 19.21% Mr Tan Choo Pie managed to acquire from some minority shareholders since the announcement of the scheme of arrangement) to one of the 2 interested parties - likely at a higher price than $0.85 that the Tans find attractive enough.
2. On behalf of Spindex's BOD, Mr Chew Heng Ching, the Lead Independent Director, issued a separate announcement to inform that the IDs had on 23Feb17 received an unsolicited letter from a third party with, inter alia, a request to conduct due diligence on the Company, but without any offer or indicative terms. The IDs have requested the third party to specify the questions to which it requires Company information....
http://infopub.sgx.com/FileOpen/Update%2...eID=442167
3. DBS has issued a new Offer Announcement outlining the terms and conditions of the GO now under a mandatory general offer at an unchanged low-ball offer price of $0.85/share and a revised Minimum Acceptance Condition of more than 50% only....
http://infopub.sgx.com/FileOpen/Offer%20...eID=442179
Now with potentially 3 other parties interested in Spindex's business, minority shareholders should just sit tight on their Spindex shares and watch how the show will evolve.
Apparently Northstar with its Equity partners IV fund is 1 of the 3rd party partner.
------------
Northstar completes fundraising for Northstar Equity Partners IV at US$810m of capital commitments.
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Northstar group website
https://www.nsgroup.com
Getting more n more interesting indeed. My tiny-stake ticket still intact, sit on my hand to watch the show.
My views are your Gilbert & Sullivan's:
"The flowers that bloom in the spring, have nothing to do with the case".
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I think the fact that the Company has received unsolicited request by a PE fund to conduct dueD obviously with the view of possibly making an offer for the company is clearly material information in this context. Spindex' boad should have announced this development right after 23 Feb and not waited till today.
Wonder if those shareholders who sold to Tan family during this period have a legal case to pursue the delta if share prices move up on Monday.
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