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SABANA REIT

luckyplate
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03-Apr-2023 12:13     
 
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 Alert Admin 		AGM for sabana Coming next ...
Do advise how you want to vote for and against some of the resolutions .. Any buffet ??
 
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PhillipTan
Supreme
01-Apr-2023 18:06     
 
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 Alert Admin 		ESR will not be allowed to vote if they are parties in the merger proposal
Valore might not necessarily follow ESR suggestions too
If Valore wants to be part of the merger, I don' t think they will be allowed to vote as well
If you do not wish this to happen, keep buying more Sabana shares and then vote no
 

luckyguy3      ( Date: 31-Mar-2023 12:37) Posted:

Next, ESR reits talks with Valore and then launch take over/merger with Sabana with Valore agreeing to vote in support  smiley  . Last time merger failed with 66%, now with Valore extra more than 10% of votes, can liao
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luckyguy3
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31-Mar-2023 12:37     
 
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 Alert Admin 		Next, ESR reits talks with Valore and then launch take over/merger with Sabana with Valore agreeing to vote in support  smiley  . Last time merger failed with 66%, now with Valore extra more than 10% of votes, can liao
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kt3152
Supreme
31-Mar-2023 10:37     
 
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 Alert Admin 		Got additional 21% of excess taken by offerer....

katak88      ( Date: 31-Mar-2023 09:56) Posted:

Allocation of excess units of acceptance of partial offer had been completed.

Online check on CDP holdings show that units of Sabana Reits partial offer acceptance had been debited from CDP holdings on 30 Mar 2023 (yesterday) and payment should be due today (31 Mar).   

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katak88
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31-Mar-2023 09:56     
 
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 Alert Admin 		Allocation of excess units of acceptance of partial offer had been completed.

Online check on CDP holdings show that units of Sabana Reits partial offer acceptance had been debited from CDP holdings on 30 Mar 2023 (yesterday) and payment should be due today (31 Mar).   
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Joelton
Supreme
30-Mar-2023 15:52     
 
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 Alert Admin
Volare&rsquo s partial offer for Sabana Reit closes with need to scale back acceptances
 
VOLARE Group&rsquo s partial offer to acquire an additional 10 per cent of Sabana Industrial Real Estate Industrial Trust (Sabana Reit) at S$0.465 per unit closed on Mar 24, after receiving valid acceptances representing about 27.7 per cent of issued units in the Reit.
 
Under the partial offer terms, the offeror is only permitted to acquire the offer units comprising 109,612,132 units in Sabana Reit.
 
It was announced late on Tuesday (Mar 28) that some 51,424,456 units were tendered in respect of their relevant percentage offer units, which may be accepted in full by Volare.
 
Another 251,901,891 units were in respect of excess units which were tendered in acceptance of the partial offer.
 
As the excess units tendered for acceptance exceed the number of offer units, they will be accepted on a prorated basis up to a number which will be equal to the number of offer units &ndash though in a manner which minimises the number of new odd-lot unit holdings.
 
A temporary odd-lot trading counter for the trading of board lots of one unit each, will be open from Apr 5 to May 5 after the settlement of the consideration of the offer units.
 
Volare, which held 5.4 per cent of issued units in Sabana Reit before launching its partial offer earlier this year in January, is a Swiss entity with various businesses. The group previously said it was seeking to acquire a larger stakeholding in the Reit to diversify its business away from fossil fuels, and build up its real estate portfolio.
 
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katak88
Master
29-Mar-2023 10:13     
 
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 Alert Admin

Volare&rsquo s partial offer for Sabana Reit closes with need to scale back acceptances

 
WED, MAR 29, 2023 - 09:49 AM
 
Under the partial offer terms, the offeror is only permitted to acquire the offer units comprising 109,612,132 units in Sabana Reit.
PHOTO: SABANA INDUSTRIAL REIT
 

VOLARE Group&rsquo s partial offer to acquire an additional 10 per cent of Sabana Industrial Real Estate Industrial Trust (Sabana Reit) at S$0.465 per unit closed on Mar 24, after receiving valid acceptances representing about 27.7 per cent of issued units in the Reit.

Under the partial offer terms, the offeror is only permitted to acquire the offer units comprising 109,612,132 units in Sabana Reit.

It was announced late on Tuesday (Mar 28) that some 51,424,456 units were tendered in respect of their relevant percentage offer units, which may be accepted in full by Volare.

Another 251,901,891 units were in respect of excess units which were tendered in acceptance of the partial offer.

As the excess units tendered for acceptance exceed the number of offer units, they will be accepted on a prorated basis up to a number which will be equal to the number of offer units &ndash though in a manner which minimises the number of new odd-lot unit holdings.

A temporary odd-lot trading counter for the trading of board lots of one unit each, will be open from Apr 5 to May 5 after the settlement of the consideration of the offer units.

Volare, which held 5.4 per cent of issued units in Sabana Reit before launching its partial offer earlier this year in January, is a Swiss entity with various businesses. The group previously said it was seeking to acquire a larger stakeholding in the Reit to diversify its business away from fossil fuels, and build up its real estate portfolio.

Units of  Sabana Reit : M1GU 0%  were trading flat at S$0.44 as at 9.30 am on Wednesday.
 
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katak88
Master
27-Mar-2023 11:19     
 
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 Alert Admin 		Payment of the Ex-Distribution Offer Price, $0.4504 in cash ($0.465-$0.0146).
 
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EdmundC
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21-Mar-2023 17:02     
 
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 Alert Admin 		last week was due to FTSE rebalancing on Friday.

losing steam now.

 
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asianguy
Senior
16-Mar-2023 21:28     
 
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 Alert Admin 		Share price closed 45.5 cents today, higher than offer price of 45 cents. So its better to sell direct on the market !
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PhillipTan
Supreme
15-Mar-2023 15:34     
 
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 Alert Admin 		Yes, they are giving higher dividends

But how about share price?
On a 1 year time line, Sabana dropped by a couple of cents
ESR dropped by around 20-25 percent

I don' t think there is a stock split though
Movements in share price is another factor other than just dividends
 

luckyguy3      ( Date: 15-Mar-2023 14:19) Posted:

The 66% voted yes last time despite all the negative comments, negative responds from the Quartz
and other minority shareholders. I would think with all the negative publicity last time, 33% would be voting yes
but ended up still 66% voted yes.

So I would still expect the 66% to vote yes this time..

And u linked to the recent dropped in Sabana dividend while ESR-LOGOS dividend went up.
Why suddenly sabana dividend dropped  and ESR-LOGOS dividend went up this year?

The 66% can be easily convinced to vote yes to merger with ESR by telling them Sabana reit dividend is dropping and as a small entitiy, there is no future etc
dividend will only drop all the way.

 

PhillipTan      ( Date: 12-Mar-2023 16:19) Posted:

Cannot edit after posting
What I meant was 
I believe those who were allowed to vote are ordinary shareholders
So 66.7% of those who voted yes should be ordinary shareholders like us
I belong to the 33.3% that voted no though lol
 
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Observers
Elite
15-Mar-2023 15:25     
 
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 Alert Admin 		ESR hand fast leg fast do capital raising, looks like JIT only for the US financial/banking sector fallout?
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luckyguy3
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15-Mar-2023 14:19     
 
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 Alert Admin 		The 66% voted yes last time despite all the negative comments, negative responds from the Quartz
and other minority shareholders. I would think with all the negative publicity last time, 33% would be voting yes
but ended up still 66% voted yes.

So I would still expect the 66% to vote yes this time..

And u linked to the recent dropped in Sabana dividend while ESR-LOGOS dividend went up.
Why suddenly sabana dividend dropped  and ESR-LOGOS dividend went up this year?

The 66% can be easily convinced to vote yes to merger with ESR by telling them Sabana reit dividend is dropping and as a small entitiy, there is no future etc
dividend will only drop all the way.

 

PhillipTan      ( Date: 12-Mar-2023 16:19) Posted:

Cannot edit after posting
What I meant was 
I believe those who were allowed to vote are ordinary shareholders
So 66.7% of those who voted yes should be ordinary shareholders like us
I belong to the 33.3% that voted no though lol
 

PhillipTan      ( Date: 12-Mar-2023 16:16) Posted:

I think Volare is not allowed to make any purchase within 6 months from the offer
So I think a merger won' t take place anywhere within 6 months from now

66.7% that voted for the merger previously were shareholders like us
Whether Volare allowed to vote for merger next time, I don' t know, since ESR guys and other shareholders holding almost 25% aren' t allowed
But even if they are, they have to hope that these same people who voted yes previously will all continue to do so
The margin of error of 1.7% is very small and the exercise can be costly if failed
I voted no previously and I have increase my holdings by around another 25% to date
If all those who voted no, will continue to vote no and are increasing their shareholding too, I think achieving the 75% vote could be difficult

 
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luckyguy3
Master
15-Mar-2023 14:14     
 
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 Alert Admin 		Volare need not team up with ESR to launch a bid for Sabana. If they team up with ESR, then they cannot vote

So Volare can vote for the take offer if they are not teaming up with ESR BUT they can vote for " yes"  
privately after some secret agreement reached with ESR.

So the Volare' s 10% purchase is strange in a way. Why buy 10% and not launch a take over, why 10%

The only thing I can think of is the 66% agreeing to the take over by ESR last time.

66+10 = 76% > 75% needed lo

 

PhillipTan      ( Date: 12-Mar-2023 16:16) Posted:

I think Volare is not allowed to make any purchase within 6 months from the offer
So I think a merger won' t take place anywhere within 6 months from now

66.7% that voted for the merger previously were shareholders like us
Whether Volare allowed to vote for merger next time, I don' t know, since ESR guys and other shareholders holding almost 25% aren' t allowed
But even if they are, they have to hope that these same people who voted yes previously will all continue to do so
The margin of error of 1.7% is very small and the exercise can be costly if failed
I voted no previously and I have increase my holdings by around another 25% to date
If all those who voted no, will continue to vote no and are increasing their shareholding too, I think achieving the 75% vote could be difficult

 

luckyguy3      ( Date: 10-Mar-2023 20:13) Posted:

http://www.straitstimes.com/business/companies-markets/shareholders-vote-down-sabana-reit-esr-reit-proposed-merger

Sabana Reit said 66.7 per cent of its shareholders had backed the proposal to amend its trust deed, but this was below the 75 per cent required for a merger vote to proceed. ESR-Reit managers and others holding 24.6 per cent of Sabana Reit were not allowed to vote.
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EdmundC
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14-Mar-2023 18:15     
 
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 Alert Admin 		Do not think Volare is with ESR. 

But make sense to just tender the shares at 45 cents when current share price only 43, 43.5 cents.

Especially when market is so bad now, AIMS, keppel, mapletree etc all trading at much lower price. Can also buy back Sabana later if you are optimistic about the future.

Now that the offer is unconditional, means they definitely have to buy the shares which are successfully tendered so its super safe.






 
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PhillipTan
Supreme
12-Mar-2023 16:19     
 
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 Alert Admin 		Cannot edit after posting
What I meant was 
I believe those who were allowed to vote are ordinary shareholders
So 66.7% of those who voted yes should be ordinary shareholders like us
I belong to the 33.3% that voted no though lol
 

PhillipTan      ( Date: 12-Mar-2023 16:16) Posted:

I think Volare is not allowed to make any purchase within 6 months from the offer
So I think a merger won' t take place anywhere within 6 months from now

66.7% that voted for the merger previously were shareholders like us
Whether Volare allowed to vote for merger next time, I don' t know, since ESR guys and other shareholders holding almost 25% aren' t allowed
But even if they are, they have to hope that these same people who voted yes previously will all continue to do so
The margin of error of 1.7% is very small and the exercise can be costly if failed
I voted no previously and I have increase my holdings by around another 25% to date
If all those who voted no, will continue to vote no and are increasing their shareholding too, I think achieving the 75% vote could be difficult

 

luckyguy3      ( Date: 10-Mar-2023 20:13) Posted:

http://www.straitstimes.com/business/companies-markets/shareholders-vote-down-sabana-reit-esr-reit-proposed-merger

Sabana Reit said 66.7 per cent of its shareholders had backed the proposal to amend its trust deed, but this was below the 75 per cent required for a merger vote to proceed. ESR-Reit managers and others holding 24.6 per cent of Sabana Reit were not allowed to vote.
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PhillipTan
Supreme
12-Mar-2023 16:16     
 
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 Alert Admin 		I think Volare is not allowed to make any purchase within 6 months from the offer
So I think a merger won' t take place anywhere within 6 months from now

66.7% that voted for the merger previously were shareholders like us
Whether Volare allowed to vote for merger next time, I don' t know, since ESR guys and other shareholders holding almost 25% aren' t allowed
But even if they are, they have to hope that these same people who voted yes previously will all continue to do so
The margin of error of 1.7% is very small and the exercise can be costly if failed
I voted no previously and I have increase my holdings by around another 25% to date
If all those who voted no, will continue to vote no and are increasing their shareholding too, I think achieving the 75% vote could be difficult

 

luckyguy3      ( Date: 10-Mar-2023 20:13) Posted:

http://www.straitstimes.com/business/companies-markets/shareholders-vote-down-sabana-reit-esr-reit-proposed-merger

Sabana Reit said 66.7 per cent of its shareholders had backed the proposal to amend its trust deed, but this was below the 75 per cent required for a merger vote to proceed. ESR-Reit managers and others holding 24.6 per cent of Sabana Reit were not allowed to vote.

luckyguy3      ( Date: 10-Mar-2023 20:12) Posted:

Valore now becomes a major shareholders with it' s extra shares. Then wait they combine with ESR to launch another buy out :)

Last time ESR failed, I think they got 66%?. This time if Valore with it' s 10% extra shares supports ESR in launching another take over, I think most Sabana reit holders can say bye bye to their shares liao. 

Dun u all think is a coincident that Salore is buying 10% extra shares?

66% + 10% = 76% > 75% required
 


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cobrajr
Veteran
11-Mar-2023 18:11     
 
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 Alert Admin 		Thank you

pkli899      ( Date: 10-Mar-2023 19:35) Posted:

No, cobrajr.
Will be based on allotment ratio they adopt.
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EdmundC
Member
10-Mar-2023 20:18     
 
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 Alert Admin 		they got website 

https://www.partialoffersabana.com/

download the FAT or FAA forms depending on where your shares are

or used cdp electronic to tender if shares in CDP. Much easier

 

pkli899      ( Date: 10-Mar-2023 19:39) Posted:

U should have received the circular
together with a form which u can feel in the number u wish to tender.

kkboy1      ( Date: 10-Mar-2023 17:52) Posted:

How to submit the tender?
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luckyguy3
Master
10-Mar-2023 20:13     
 
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 Alert Admin 		http://www.straitstimes.com/business/companies-markets/shareholders-vote-down-sabana-reit-esr-reit-proposed-merger

Sabana Reit said 66.7 per cent of its shareholders had backed the proposal to amend its trust deed, but this was below the 75 per cent required for a merger vote to proceed. ESR-Reit managers and others holding 24.6 per cent of Sabana Reit were not allowed to vote.

luckyguy3      ( Date: 10-Mar-2023 20:12) Posted:

Valore now becomes a major shareholders with it' s extra shares. Then wait they combine with ESR to launch another buy out :)

Last time ESR failed, I think they got 66%?. This time if Valore with it' s 10% extra shares supports ESR in launching another take over, I think most Sabana reit holders can say bye bye to their shares liao. 

Dun u all think is a coincident that Salore is buying 10% extra shares?

66% + 10% = 76% > 75% required
 

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