Spindex Industries

[julianbream]

Under the act, u already have the right. It is very unlikely for them to challenge it and on what basis if they wish to challenge? It is pretty straight forward case at least for me. And yes, i have personally exercise this right before by writing to a company stating my right in my letter to them. Btw, i didn't engage a lawyer.

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To supplement the good answer by ghchua

A company who is exercising Section 215's mandatory acquisition, will distribute two FORMs, the infamous Form 57 and 58. The company exercises its right via Form 57, and shareholders exercise their right via Form 58.

Unless you challenge the company on the right, there is no reason for lawyer engagement, IMHO.

Thanks, ghchua and YMPL.

[Quickbeam]

The offer has closed with 72.88% tendering. Looks like it will remain listed. I am glad to see I get to remain shareholder without forcing me out.

[(cy)]

haven't seen any further update announcements by the company since the lapse of the offer. what can shareholders expect, does anyone know?

given that they did not manage to secure 90% to successfully delist the group, then it has to remain listed, I presume?

[Quickbeam]

The offer has closed, and it will remain listed.

[dydx]

From this failed GO, we know the Tan Family as the controlling shareholder is prepared to borrow quite a large sum and pay $0.85/share to take Spindex private. The Tan Family should be thinking about how to unwind the borrowings now. We also know there are 3rd-party suitors out there willing to buy the entire business, just like what has happened to arch-rival Innovalues. It appears that the next GO would likely be triggered by a 3rd-party suitor buying out the Tan Family presumably at a higher price closer to the intrinsic value of the entire business. As usual, patience is golden

[zz...]

From this failed GO, we know the Tan Family as the controlling shareholder is prepared to borrow quite a large sum and pay $0.85/share to take Spindex private. The Tan Family should be thinking about how to unwind the borrowings now. We also know there are 3rd-party suitors out there willing to buy the entire business, just like what has happened to arch-rival Innovalues. It appears that the next GO would likely be triggered by a 3rd-party suitor buying out the Tan Family presumably at a higher price closer to the intrinsic value of the entire business. As usual, patience is golden

But Tan family already said they don't want to be bought out, unless another party can get more than 50% then got better chance

[dydx]

At the close of the recent GO by the Tan Family at $0.85/share on 26Apr17, the Tan Family has managed to raise their stake in Spindex from 25.49% to now 72.4%.....
http://infopub.sgx.com/FileOpen/Close%20...eID=450507

Spindex's share price has since increased steadily and this morning hit a new high of $1.06. It appears that there are people out there betting on a set of good full-year (ending 30Jun17) results together with perhaps a much bigger final dividend (vs. last FY16: $0.023/share) coming which are expected by end-Aug, or maybe something else that is even more positive than that.

[opmi]

Maybe it is all the former k1 and Fischer shareholders getting in...hahahah

[Quickbeam]

I am happy the shares are up as it reduces the risk of the company being taken out by a low-ball bid.

[vingaard]

The bid volume increased from 3k shares to 326k shares near market close. Big boys trying to accumulate at a low price?

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