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Chua
It is precisely this uncertainty that people are avoiding CF and probably causing the downward movement of the share. Other Chinese stocks like SinoG & CMZ are clearer in direction. if you have to choose a chinese stock you will go with the other two. So for CF, a heavy dose of patience and understanding of the underlying corporate activities is needed to stay invested. Otherwise, there are better stock to park your money out there.
chuayc1985 ( Date: 18-Apr-2013 22:31) Posted:
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What is happening?
Why prices keep falling?
China Fishery's acquisition is on condition of 50.01% so when the other acquirer achieve 50.07%. Is CF acquisition plan bound to fail?
How will CF come up with the additional ~200 mil? By rights issue again?
So many uncertainty. Can anyone help to give opinion?
China Fish has raised gross proceeds of ~S$347.88 million from the rights issue.http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_8E40069F2D9E76DC48257B4F0031B286/$file/CFGL-Results_RI_16042013.pdf?openelement
Will check if I'm allocated excess rights shares... seems unlikely to get them.
JMS213 ( Date: 16-Apr-2013 09:36) Posted:
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Thkq Blanchard,
It makes no sense to exercise and convert @ $2.10. Question is how will this change the effect of CF's acquisition ? Any comments, thanks
JMS213,
On 28 July 10, China Fish issued 26,666,666 warrants to CAP III-A Limited at a total consideration of US$1 (the " Warrants" ). Each of the Warrants carries the right to subscribe to one new ordinary share of the Company of US$0.05 each at an exercise price of S$2.10 per Warrant which is payable in United States dollar based on a fixed exchange rate in accordance with the subscription agreement entered into with CAP III-A Limited. The Warrants have not been listed or traded on the Main Board of the SGX.
I think the acquisition of Copeinca or being a substantial shareholder of Copeinca is important to China Fish.
JMS213 ( Date: 15-Apr-2013 22:10) Posted:
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ISSUANCE OF ADDITIONAL WARRANTS TO CAP III-A LIMITED ARISING FROM COMPLETION OF THE RIGHTS ISSUE
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_A946E1A402DC19B748257B4E0022A5AD/$file/CFGL-AdjustmentCarlyleWarrants_15042013.pdf?openelement
I think the expiry date of warrants is still 28 July 13?
China Fishery hedges its bets with $730m bid for Copeinca
http://www.undercurrentnews.com/2013/04/11/china-fishery-hedges-its-bets-with-730m-bid-for-copeinca/Whether CF is ultimately successful or not in the acquisition of Copeinca, this effort by CF to raise the business & financial performance of CF is very commendable & deserving the shareholders' support...明 天 会 更 好 ...
wendel ( Date: 11-Apr-2013 16:26) Posted:
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Combine the 2 pieces of news for benefit of everbody,,,
Group made a competing offer to match the bid of NOK 59.70/ share by Cermaq ASA and extended the deadline of acceptance to 10 May 2013. As of 11 Apr, China Fishery has a total aggregate holding that equal to 32.3% of Copeinca Recall over the weekend, Cermaq ASA made a voluntary cash offer of NOK 59.70/ share for Copeinca ASA, after gaining a 50.7% control of Copeinca. Cermaq achieved its 50.7% control after i) Copeinca issued new shares to Cermaq ii) several of Copeinca's major shareholders and treasury shareholders sold their stakes to Cermaq China Fish's initial plan for the acquisition of Copeinca would boost its peruvian catch quota by 10.7% in North and Central Peru, and an additional 3% of catch quota in South Peru- enabling China Fish to become the largest fishmeal co in Peru with a total of 16.9% catch quota in North and Central Peru and 14.7% in South Peru, and one of the top producers in the world.
Blanchard ( Date: 11-Apr-2013 16:03) Posted:
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Report in undercurrentnews: http://www.undercurrentnews.com/2013/04/11/china-fishery-raises-copeinca-bid-to-match-cermaqs-offer/
for your reading pleasure...
JMS213 ( Date: 11-Apr-2013 09:33) Posted:
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" Cermaq said its tender offer would be launched in late April. The group, which is 43.5% owned by the Norwegian government, will then need the approval from the Norwegian parliament for the deal, in a vote scheduled in May."
" The Dyer-Coriat family, which will own 7.5% of shares in Cermaq as part of the sale, intends to remain a long-term investor in the company, he said. The family has accepted a two year lock up period for the shares in Cermaq they receive as part of the transaction."
CF is able to make quick and decisive move, watch and see ...... don't be surprise ......
....The Board would like to announce that the Offeror will amend the terms and conditions of the Voluntary Cash Offer and will be increasing the Offer Price of the Voluntary Cash Offer from NOK53.85 to NOK 59.70, so as to match the competing bid of NOK 59.70 by Cermaq ASA...
Personally, as of current situation, I don't think CF will eventually be successful even with this revised offer. But I think CF is giving it a try...