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MichaelSchenker Master	10-Apr-2017 18:02        MichaelSchenker About Contact  Quote this Post!
x 0   x 0  Alert Admin	Last checked, a friend already got his money back, though not exactly sure if he got it within 7 business days. Now the question is this, why would holders sell at 1.300 in the open market and incur brokerage fees when they can sell direct to the agent bank at 1.300 without incurring brokerage fees. After all, there is no significant delay in getting the funds back. Really mind-boggling! Tomorrow I will submit my form, been queueing for weeks to sell at 1.305 and the difference after deducting brokerage is just $15 if I sell direct at 1.300 MichaelSchenker      ( Date: 10-Apr-2017 09:00) Posted: Any holders got their money back? If not mistaken, it was mentioned after " 7 business days" from date of approval. I' m not sure if I have misinterpreted. Anyhow, did anybody received their money after they submitted their forms previously?  I' m still in trying to sell in the open market, but the closing date is drawing near. I need to decide soon.
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MichaelSchenker Master	10-Apr-2017 09:00        MichaelSchenker About Contact  Quote this Post!
x 0   x 0  Alert Admin	Any holders got their money back? If not mistaken, it was mentioned after " 7 business days" from date of approval. I' m not sure if I have misinterpreted. Anyhow, did anybody received their money after they submitted their forms previously?  I' m still in trying to sell in the open market, but the closing date is drawing near. I need to decide soon.
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KiLrOy Elite	24-Mar-2017 21:02        KiLrOy About Contact  Quote this Post! Style: Combined   Mood: Yells: "I buy only what I can see."
x 0   x 0  Alert Admin	I am one of the hopeful queueing to SELL @ 1.305 everyday while waiting for the date line to approach/ :)
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jeremyow Master	24-Mar-2017 09:30        jeremyow About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Passionate business investor"
x 0   x 0  Alert Admin	Thanks MichaelSchenker for your inputs too! I won' t be surprised if there were indeed quite a lot of short selling on this counter for the past 2 years as it dropped from more than $1.50 region to $0.80 region. The problem with this counter for the recent take over by JDE is that the offer price may not be good for those investors whose average holding price is more than $1.30. I won' t be surprised if that there are a good number of investors who have no choice but to tender in their shares at a loss for them as their average holding price is more than $1.30. Again, we may not know the exact reasons for the shares to be currently traded between $1.30 to $1.305 because we do not know the identity of the buyers and sellers at these prices. It could also be some silly reasons like an ignorant retail investor who still buy at these prices uninformed of the take over situation in this company currently. This is because yesterday' s trade summary only shows total of 11,200 shares bought by some people at $1.305 which could also be a possible silly mistake comitted by some ignorant investors who may not be aware of the current take over situation of Super Group and still buy at that price above the take over offer price. Anything could be possible here since we do not know the exact identity of the buyers and sellers in the transactions? MichaelSchenker      ( Date: 24-Mar-2017 08:20) Posted: Very logical explanation. Thanks buddy. There' s also a ' Coffeeshop talk' that Super shares were heavily but gradually shorted the past 2 years from the 1.50 region to 0.80 level. Not sure how it was done, on borrowed scrips perhaps? Now is ' buy back' time to make up the shortfalls.  But of course take it with a pinch of salt. The explanation by jeremyow is much more plausible and logical. jeremyow      ( Date: 23-Mar-2017 20:48) Posted: There are some possible reasons for the share price to trade at the offer price or even higher than offer price. From the trade summary of Super Group for today, at the offer price of $1.30, it is very clear that some shareholders are selling their shares to buyers who are queueing at $1.30. The shareholders could be anyone like you or me who decides to just sell off their shares in the open market instead of tendering their shares through the general offer acceptance form due to any 1001   trival reasons which may or may not make sense (e.g. more convenient to just click button to sell instead of filling form and mailing it). Or some shareholders are overseas during this period of time and not able to get someone to help them with the tendering of their shares, so they just sell off in open market which is so fast and convenient even though there is transaction charges for doing so. People are just different in the way they like to do things. From the trade summary, there is only a small number of shares bought at $1.305. Buying at more than offer price could also have few possible reasons. Some people who buy at higher than offer price of $1.30 may think that there could be still chance for a better offer in future (though for this case I think it is highly unlikely to have a better offer from JDE or another competitor comes along with a better offer as the deadline for existing shareholders to tender their shares to JDE is drawing very near). Another possible reason could be some short sellers who have been on long term shorts in Super Group when it tanked all the way down in previous year did not have chance to cover back their shorts upon the announcement of the take over. So, they have been covering their shorts until now that some short sellers who have no choice but forced to cover back their shorts at slightly higher than offer price at $1.305 especially when the deadline for the take over offer to tender the shares is very near already.
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MichaelSchenker Master	24-Mar-2017 08:20        MichaelSchenker About Contact  Quote this Post!
x 0   x 0  Alert Admin	Very logical explanation. Thanks buddy. There' s also a ' Coffeeshop talk' that Super shares were heavily but gradually shorted the past 2 years from the 1.50 region to 0.80 level. Not sure how it was done, on borrowed scrips perhaps? Now is ' buy back' time to make up the shortfalls.  But of course take it with a pinch of salt. The explanation by jeremyow is much more plausible and logical. jeremyow      ( Date: 23-Mar-2017 20:48) Posted: There are some possible reasons for the share price to trade at the offer price or even higher than offer price. From the trade summary of Super Group for today, at the offer price of $1.30, it is very clear that some shareholders are selling their shares to buyers who are queueing at $1.30. The shareholders could be anyone like you or me who decides to just sell off their shares in the open market instead of tendering their shares through the general offer acceptance form due to any 1001   trival reasons which may or may not make sense (e.g. more convenient to just click button to sell instead of filling form and mailing it). Or some shareholders are overseas during this period of time and not able to get someone to help them with the tendering of their shares, so they just sell off in open market which is so fast and convenient even though there is transaction charges for doing so. People are just different in the way they like to do things. From the trade summary, there is only a small number of shares bought at $1.305. Buying at more than offer price could also have few possible reasons. Some people who buy at higher than offer price of $1.30 may think that there could be still chance for a better offer in future (though for this case I think it is highly unlikely to have a better offer from JDE or another competitor comes along with a better offer as the deadline for existing shareholders to tender their shares to JDE is drawing very near). Another possible reason could be some short sellers who have been on long term shorts in Super Group when it tanked all the way down in previous year did not have chance to cover back their shorts upon the announcement of the take over. So, they have been covering their shorts until now that some short sellers who have no choice but forced to cover back their shorts at slightly higher than offer price at $1.305 especially when the deadline for the take over offer to tender the shares is very near already.     allright      ( Date: 23-Mar-2017 16:46) Posted: Can anyone explain why there are done deals at 1.30 and 1.305? Who would be buying? I thought the offer price is at 1.30?
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jeremyow Master	23-Mar-2017 20:48        jeremyow About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Passionate business investor"
x 0   x 0  Alert Admin	There are some possible reasons for the share price to trade at the offer price or even higher than offer price. From the trade summary of Super Group for today, at the offer price of $1.30, it is very clear that some shareholders are selling their shares to buyers who are queueing at $1.30. The shareholders could be anyone like you or me who decides to just sell off their shares in the open market instead of tendering their shares through the general offer acceptance form due to any 1001   trival reasons which may or may not make sense (e.g. more convenient to just click button to sell instead of filling form and mailing it). Or some shareholders are overseas during this period of time and not able to get someone to help them with the tendering of their shares, so they just sell off in open market which is so fast and convenient even though there is transaction charges for doing so. People are just different in the way they like to do things. From the trade summary, there is only a small number of shares bought at $1.305. Buying at more than offer price could also have few possible reasons. Some people who buy at higher than offer price of $1.30 may think that there could be still chance for a better offer in future (though for this case I think it is highly unlikely to have a better offer from JDE or another competitor comes along with a better offer as the deadline for existing shareholders to tender their shares to JDE is drawing very near). Another possible reason could be some short sellers who have been on long term shorts in Super Group when it tanked all the way down in previous year did not have chance to cover back their shorts upon the announcement of the take over. So, they have been covering their shorts until now that some short sellers who have no choice but forced to cover back their shorts at slightly higher than offer price at $1.305 especially when the deadline for the take over offer to tender the shares is very near already.     allright      ( Date: 23-Mar-2017 16:46) Posted: Can anyone explain why there are done deals at 1.30 and 1.305? Who would be buying? I thought the offer price is at 1.30?
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allright Senior	23-Mar-2017 16:46        allright About Contact  Quote this Post!
x 0   x 0  Alert Admin	Can anyone explain why there are done deals at 1.30 and 1.305? Who would be buying? I thought the offer price is at 1.30?
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jeremyow Master	16-Mar-2017 15:46        jeremyow About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Passionate business investor"
x 0   x 0  Alert Admin	You' re welcomed BillionX!  BillionX      ( Date: 16-Mar-2017 15:26) Posted: Thanks Jeremy.Your reply is more than comprehensive.
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BillionX Senior	16-Mar-2017 15:26        BillionX About Contact  Quote this Post!
x 0   x 0  Alert Admin	Thanks Jeremy.Your reply is more than comprehensive.
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jeremyow Master	16-Mar-2017 14:51        jeremyow About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Passionate business investor"
x 0   x 0  Alert Admin	Hi BillionX, there are two key words to pay attention to in this offer document. The first word is " voluntary" and the second word is " unconditional" . There are two contrasting things concerning the first word which are either a " voluntary" or " mandatory" offer. A voluntary offer is one that the offeror is not under any jurisdiction or regulation to make that offer. This means that JDE which is making the offer for Super Group' s shares is purely doing it on a voluntary/ free-will basis and not under any complusion by law or regulation to do so. A mandatory offer is one that is triggered by jurisdiction or regulation of the stock exchange that the offeror must make the offer. This may happen in the case whereby if a particular shareholder and his concerted parties hold at least 30% of the total issued voting shares of a company, they must under compulsion by law and regulation make a mandatory offer to take over the company. There are also two contrasting things concerning the second word which are either a " conditional" or " unconditional" offer. An offer is most of the time initially on a " conditional" basis meaning that the offeror will only proceed with the take over of the shares of the company provided certain conditions must be met. At this stage whereby it is " conditional" , the offer may or may not go through eventually depending on whether all conditions tied to the offer are fully met or not. Previously, the offer for Super Group' s shares were " conditional" as all conditions tied to this offer have yet to be met. But now, in the latest announcement on SGX and offer document dispatched to shareholders, obviously the offer is now " unconditional" as the % of shares now that the offeror and its concert parties have secured (provided no last minute withdrawals) is at least 50%. So, this means that all conditions concerning the offer have been fully met and the offeror has confirmed with proceeding on the take over of Super Group now. As to listing requirements by SGX, at least 10% of the total issued voting shares (excluding treasury shares and other types of non-voting shares) must be in the hands of the public in order for a company to continue to be listed. This means the public float must be at least 10% of the total issued voting shares of a company. In the event if the % falls below 10%, a company is given three months to replenish up till the minimum 10% of total issued voting shares requirement by SGX to remain listed on SGX failing which the company will be delisted. Obviously, the management of Super Group has already agreed to tender their shares to the offeror JDE, so it is highly unlikely if the % public float falls below 10% that they will replenish the minimum % shares to continue to be listed. Thus, now what remains is for minority shareholders to decide whether they want to tender their shares to the offeror. As the offeror receives more valid acceptances by the days up till the deadline, should the offeror gains at least more than 90% of the total issued voting shares, then the disconcerting shareholders who refused to tender their shares could face either of the situation that they may become shareholders of a privatised company whereby their shares are no longer traded publicly on SGX or they may still get a chance by the offeror to make offer to acquire their shares at $1.30 too. But the latter outcome may not always be a reality.  BillionX      ( Date: 16-Mar-2017 14:01) Posted: Now that the offer becomes unconditional does it mean that all Super shares will be acquired whether one accepts the offer or not.I am not familiar with the process.Also can the company be delisted even if the total shares acquired is less than 90%? Can someone please enlighten me.Thank you
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BillionX Senior	16-Mar-2017 14:01        BillionX About Contact  Quote this Post!
x 0   x 0  Alert Admin	Now that the offer becomes unconditional does it mean that all Super shares will be acquired whether one accepts the offer or not.I am not familiar with the process.Also can the company be delisted even if the total shares acquired is less than 90%? Can someone please enlighten me.Thank you
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