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13-05-2023, 01:18 AM
(This post was last modified: 13-05-2023, 01:20 AM by dreamybear.)
The IFA advice is out and I have extracted some parts for the benefit of vested VB. I am not vested.
NAV is abt $1.5 and range of values per share is abt 50%. I guess a question is also whether the share price will trade at/above the range of values stated.
What really hits home(to me) is the "power" of majority shareholdings.
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Lian Beng Offeree Circular
https://links.sgx.com/FileOpen/LBG%20-%2...eID=758982
"....Based on the Existing Share Capital of 499,689,200 Shares as at the Latest Practicable Date, the adjusted NAV per Share is approximately S$1.5283.....
....with the 72.18% shareholding, the Concert Party Group can pass all resolutions on matters in which they do not have an interest at future general meetings of Shareholders including resolutions on dividend payments by the Company....
...we are of the opinion that, as of the date hereof, the terms of the Offer, on balance, are not fair and not reasonable. Accordingly, we advise the Independent Directors to recommend Shareholders to reject the Offer.....
... This gives us a range of value of between S$0.75 and S$0.85 per Share ..."
NAV is abt $1.5 and range of values per share is abt 50%. I guess a question is also whether the share price will trade at/above the range of values stated.
What really hits home(to me) is the "power" of majority shareholdings.
--------------------------------------
Lian Beng Offeree Circular
https://links.sgx.com/FileOpen/LBG%20-%2...eID=758982
"....Based on the Existing Share Capital of 499,689,200 Shares as at the Latest Practicable Date, the adjusted NAV per Share is approximately S$1.5283.....
....with the 72.18% shareholding, the Concert Party Group can pass all resolutions on matters in which they do not have an interest at future general meetings of Shareholders including resolutions on dividend payments by the Company....
...we are of the opinion that, as of the date hereof, the terms of the Offer, on balance, are not fair and not reasonable. Accordingly, we advise the Independent Directors to recommend Shareholders to reject the Offer.....
... This gives us a range of value of between S$0.75 and S$0.85 per Share ..."