CH Offshore

[BlueKelah]

So many halt must be something exciting loh. Wait and see loh.

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[ngcheeki]

Falcon Energy to launch takeover offer for CH Offshore: source

SINGAPORE (Dec 11): Falcon Energy Group ( Financial Dashboard), the biggest shareholder in CH Offshore (Financial Dashboard), will launch a takeover offer for the rest of the company it doesn’t already own, according to a person with knowledge of the matter.

“It’s a general offer. Falcon wants to buy out the rest of the company,” the person told theedgemarkets.com.

Falcon Energy, which provides offshore support vessels and logistics services, owns 29.1% of CH Offshore, an operator of anchor handling tug supply (AHTS) vessels.

Shares of Falcon Energy, CH Offshore and Chuan Hup Holdings ( Financial Dashboard), which owns 23.8% of CH Offshore, are halted from trading.

“The offer price is a single-digit percentage premium over the latest share price,” the person said, declining to reveal additional details.

Falcon Energy bought its 29.1% stake in CH Offshore from Malaysia-listed Scomi Marine ( Financial Dashboard) in 2010.

Scomi Marine acquired the CH Offshore stake in 2005 from Chuan Hup.

CH Offshore operates 15 AHTS vessels, nine of which are wholly owned, according to its website.

For the quarter ended Sept 30, the company earned US$5.6 million, down from US$7.4 million a year earlier despite a 15% rise in revenue. The results in the previous quarter were boosted by a write-back of provisions.

http://www.theedgemarkets.com/sg/article...ore-source

[Louhan]

Huh? Only single-digit premium over the latest price? So unattractive offer?

Falcon Energy to launch takeover offer for CH Offshore: source

SINGAPORE (Dec 11): Falcon Energy Group ( Financial Dashboard), the biggest shareholder in CH Offshore (Financial Dashboard), will launch a takeover offer for the rest of the company it doesn’t already own, according to a person with knowledge of the matter.

“It’s a general offer. Falcon wants to buy out the rest of the company,” the person told theedgemarkets.com.

Falcon Energy, which provides offshore support vessels and logistics services, owns 29.1% of CH Offshore, an operator of anchor handling tug supply (AHTS) vessels.

Shares of Falcon Energy, CH Offshore and Chuan Hup Holdings ( Financial Dashboard), which owns 23.8% of CH Offshore, are halted from trading.

“The offer price is a single-digit percentage premium over the latest share price,” the person said, declining to reveal additional details.

Falcon Energy bought its 29.1% stake in CH Offshore from Malaysia-listed Scomi Marine ( Financial Dashboard) in 2010.

Scomi Marine acquired the CH Offshore stake in 2005 from Chuan Hup.

CH Offshore operates 15 AHTS vessels, nine of which are wholly owned, according to its website.

For the quarter ended Sept 30, the company earned US$5.6 million, down from US$7.4 million a year earlier despite a 15% rise in revenue. The results in the previous quarter were boosted by a write-back of provisions.

http://www.theedgemarkets.com/sg/article...ore-source

[BlueKelah]

Perhaps just testing response. I would have thought its chh doing the takeover hahaha.

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[sgpunter]

Single digit percentage premium is a joke...but regardless, it can only be good news for CH Offshore/Chuan Hup.

[desmondxyz]

Falcon Energy tried to rob the investors amid of oil price slump by offering low-ball deal...

[BlueKelah]

Falcon Energy tried to rob the investors amid of oil price slump by offering low-ball deal...

They should probably have waited for CH Offshore price to drop even more before offering. Having said that, I wouldn't be surprised if CHH has already agreed to sell their majority stake to Falcon Energy so they can offload before oil prices fall further.

-Already sold CHH and not vest in CHO-

[desmondxyz]

Falcon Energy tried to rob the investors amid of oil price slump by offering low-ball deal...

They should probably have waited for CH Offshore price to drop even more before offering. Having said that, I wouldn't be surprised if CHH has already agreed to sell their majority stake to Falcon Energy so they can offload before oil prices fall further.

-Already sold CHH and not vest in CHO-

FE might succeed in this offer, as minorities may give in.... btw, FE also taking its own risk, if oil price remains suppressed for a significant long period, they will be in deep Sh** also....

[Bluechipfan]

Single digit percentage premium is a joke...but regardless, it can only be good news for CH Offshore/Chuan Hup.

So the offer price can be anywhere between 0.4654 to 0.4691 if it is true. 2 days back only traded at 0.445. Might as well buy from market straight

[Louhan]

I think single-digit premium is about 4 cents above the latest price.

Single digit percentage premium is a joke...but regardless, it can only be good news for CH Offshore/Chuan Hup.

So the offer price can be anywhere between 0.4654 to 0.4691 if it is true. 2 days back only traded at 0.445. Might as well buy from market straight