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some fireworks today. Out of total vol 1.421m - all were done at 74c, vs 53k at 73.5c. Today's buyers not going to sell to HH at 75c for sure.
slowly move 1 tick up. 74 vs 74.5.
Besides Siah Ooi Choe Francis there is another minority shareholder to watch, i.e. Morph Investment Ltd. The latter is a private fund focused on under-valued stocks that are target for privatisation. Its portfolio investment include Lion Teck Chiang, Guthrie GTS, former Courts, Stamford Land and Singapura Finance.
Hopefully Suerbowl can cross > 80c soon.
like that no hope of a substantial shareholder
> 5% giving a counter offer at higher price.
Background check: Siah Ooi Cheo Francis
He was the ex-MD of Lamipak Industries in Singapore. Was once a corporate high flier & featured in New York Times articles, but subsequently hit the rock & declared bankrupt in 1986 (27 yrs ago) for owing $120m to 20 banks here. Since then been discharged from bankruptcy.
He can't be on the side of Teo family to accept a lousy 75c-offer. Thus I expect SB px to start moving up from today.
DYODD - opposite scenario is this: IF offer price is not revised upward then SB may fall.
Besides the husband & wife team (5.258%) there are 2 others big minorities, viz. Morph Investment (2.81%) and Pang Heng Kwee (1.13%) - assuming the last 2 are still vested per annual report.
1) Husband (Siah Ooi Choe Francis) direct interest in Elinton P/L + deemed interest in Wife (Geraldine Tan Wan Cher). They have been accumulating SB shares over the years, so not so easy for them to accept 75c-offer.
Previous Holdings at 20/3/2013: 11.800m (3.63%) per annual report
Previous Holdings at 7 Oct 2013: 16.120m (4.951%)
Latest Holdings at 8 Oct 2013: 17.120m (5.258%)
2) Morph Investment at 20/3 : 9.137m (2.81%) per annual report
3) Pang Heng Kwee at 20/3: 3.67m (1.13%) per annual report
Bottomline is this: The above minority holding nearly 10% is likey to reject the 75c-offer. Thus with other minorities, the minimum 90% to delist SB may not be achieved.
Decision-time: Buy more SB shares tomorrow? there are risk either way, not straight forward. DYODD.
there is a 3rd party holding more than 5% of superbowl,
hard time for hiap hoe.
has to increase the offer price
no choice.
take over $0.75 cents but some fool selling
$0.735.
75c is way too low lor. They taking advantage of the weak sentiment. I was expecting $1 or more.
Jackpot2010 ( Date: 07-Oct-2013 21:39) Posted:
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HH offer 75c to privatise S/Bowl.
Don't sell too fast. Can hit 80c, offer is too low.
Tomorrow still on trading halt pending full reply to sgx later on.....don't know when?
Question 1: Are you aware of any information not previously announced concerning you (the issuer), your subsidiaries or associated companies which, if known, might explain the trading? - If yes, the information must be announced immediately.
" The Company is exploring potential corporate restructuring opportunities. Subsequent to this announcement, the Board will make additional announcement(s) via SGXNet to provide an update on any such corporate transactions before the lifting of the trading halt."
Hiap Hoe oso halted at 3.05pm. High chance making an offer to privatise SB. Good luck.
Pauperman ( Date: 01-Oct-2013 12:53) Posted:
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SGX query on share price up. but expect a template reply: " Do not know of any circumstances..." . bcos Hiap Hoe not halted, continue to trade = means takeover is not now.
If just bought then Hold, RNAV of SBL is more than $1.30 by most conservative estimates (due to ZSP Hotel revaluation n other retail properties gain).
discover this jewel late but manage to get in before the halt. hehe.... something big coming?
63c - All-time High. Only few of us interested in value investing. Family feud recently settled out-of-court but no details released yet.
I believe a restructuring of the group is coming, M& A of HH & SBL.
price and volumn are higher than yesterday.
something brewing.
its on the move to new high.
hiap hoe will follow also.
on your radar screen please.
going to move.
Director/CEO buying at $0.490.
more good news coming.
from hope to waiting for it to happen.
just cross my fingers and wait.
Went up today in a down market.