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Latest Forum Topics / Silverlake Axis  Post Reply
Privatisation Offer
Entropy72
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28-Sep-2024 00:29     
 
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 Alert Admin 		Yes, quite troublesome to choose option 2. Worst of shares are in SRS or CPF IA. No digital option.

cmengchan      ( Date: 27-Sep-2024 12:21) Posted:

Just wondering. Shareholders who opt for Option 2 are required to reply with the physical form. However, the forms have already been sent to shareholders a while back. So those who buy from open market now will not have the form to select Option2, right?
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Alignment
Elite
27-Sep-2024 22:12     
 
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 Alert Admin 		If you are talking about the KYC form this can be downloaded from SGX.
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cmengchan
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27-Sep-2024 12:21     
 
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 Alert Admin 		Just wondering. Shareholders who opt for Option 2 are required to reply with the physical form. However, the forms have already been sent to shareholders a while back. So those who buy from open market now will not have the form to select Option2, right?
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bigeater
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25-Sep-2024 22:10     
 
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 Alert Admin 		During the " CA Election Period" , the Dissenting Shareholder can still choose between ooption 1 and option 2.  it is only after the CA Election Period that the Dissenting Shareholder is deemed to elect Cash Consideration.  I still hope that they don' t get 90% this time, and they will raise the offer in the next attempt. 

cmengchan      ( Date: 25-Sep-2024 08:55) Posted:

If dissenting shareholder don' t accept the offer and acquisition hits mandatory 90% mark, then dissenting shareholder will be given Option 1 only $0.36 cash. Cannot pick and choose Option 2 anymore.

In such event, each Dissenting Shareholder shall be entitled to elect either the Cash Consideration or the Combi Consideration in respect of all its Shares within the timeline as prescribed under Section 215(1A) of the Companies Act (the " CA Election Period" ). After the expiry of the CA Election Period, the Offeror intends to exercise its right to compulsorily acquire all the Offer Shares not acquired under the Offer, and Dissenting Shareholders who have failed to make an election as to the form of the consideration by the expiry of the CA Election Period shall be deemed to have elected to receive, and shall receive, the Cash Consideration in respect of all its Shares.
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cmengchan
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25-Sep-2024 17:46     
 
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 Alert Admin 		Maybe bought on margin, need to liquidate even at 355. Risky to hold.

Entropy72      ( Date: 25-Sep-2024 16:15) Posted:

Still have folks selling 355.

cmengchan      ( Date: 25-Sep-2024 16:11) Posted:

I think the chance of higher offer is lower now. $0.36 is the base level
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Entropy72
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25-Sep-2024 16:15     
 
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 Alert Admin 		Still have folks selling 355.

cmengchan      ( Date: 25-Sep-2024 16:11) Posted:

I think the chance of higher offer is lower now. $0.36 is the base level.

Entropy72      ( Date: 25-Sep-2024 14:56) Posted:

Trading 355 / 360 now. Interesting.


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cmengchan
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25-Sep-2024 16:11     
 
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 Alert Admin 		I think the chance of higher offer is lower now. $0.36 is the base level.

Entropy72      ( Date: 25-Sep-2024 14:56) Posted:

Trading 355 / 360 now. Interesting.

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Entropy72
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25-Sep-2024 14:56     
 
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 Alert Admin 		Trading 355 / 360 now. Interesting.
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Joelton
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25-Sep-2024 10:12     
 
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 Alert Admin
Offeror says Silverlake Axis privatisation bid is final with no price increase
E2I says its offer is an opportunity for shareholders who may find it difficult to exit due to low trading liquidity
 
THE voluntary unconditional offer from a group led by Silverlake Axis : 5CP 0% chairman Goh Peng Ooi to take the company private is final with no intention to raise the price, said offeror E2I on Tuesday (Sep 24).
 
This comes after E2I &ndash wholly owned by Silverlake Axis&rsquo controlling shareholder Zezz FundQ &ndash made a privatisation offer of S$0.36 in cash per share on Aug 26.
 
Alternatively, shareholders may choose to receive a combination of S$0.30 per share in cash, together with one new redeemable preference share (RPS) in the capital of E2I for each offer share. The redemption amount for the new offeror RPS is S$0.18 apiece.
 
The offer remains open for acceptance until 5.30 pm on Oct 7, unless a later date is announced by E2I.
 
Silverlake Axis earlier announced on Sep 2 its appointment of PrimePartners Corporate Finance as its independent financial adviser regarding this offer. With its advice, the company directors &ndash who are considered to be independent &ndash will then make a recommendation to shareholders about the offer, said the enterprise technology company.
 
E2I said its offer presents an opportunity for shareholders who may find it difficult to exit due to low trading liquidity.
 
Delisting and privatising the company would also provide the offeror and Silverlake Axis with greater control and management flexibility in utilising and deploying available resources, E2I added in an earlier bourse filing.
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cmengchan
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25-Sep-2024 09:11     
 
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 Alert Admin 		Agreed. I think the deal was also structured to discourage dissenting shareholders. Option 1 is technically not as superior as Option 2. Dissenting shareholder cannot choose Option 2 if they fail to keep acceptance under 90%. Even if dissenting shareholders won, the free float will likely end up slightly above 10% and will be stuck with very illiquid shares.

Entropy72      ( Date: 25-Sep-2024 09:00) Posted:

Thanks for clarifying. Investors better be clear what they want by now. Sell in open market or go for option 2. Doing neither will not be advantageous.

cmengchan      ( Date: 25-Sep-2024 08:55) Posted:

If dissenting shareholder don' t accept the offer and acquisition hits mandatory 90% mark, then dissenting shareholder will be given Option 1 only $0.36 cash. Cannot pick and choose Option 2 anymore.

In such event, each Dissenting Shareholder shall be entitled to elect either the Cash Consideration or the Combi Consideration in respect of all its Shares within the timeline as prescribed under Section 215(1A) of the Companies Act (the " CA Election Period" ). After the expiry of the CA Election Period, the Offeror intends to exercise its right to compulsorily acquire all the Offer Shares not acquired under the Offer, and Dissenting Shareholders who have failed to make an election as to the form of the consideration by the expiry of the CA Election Period shall be deemed to have elected to receive, and shall receive, the Cash Consideration in respect of all its Shares.
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Entropy72
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25-Sep-2024 09:00     
 
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 Alert Admin 		Thanks for clarifying. Investors better be clear what they want by now. Sell in open market or go for option 2. Doing neither will not be advantageous.

cmengchan      ( Date: 25-Sep-2024 08:55) Posted:

If dissenting shareholder don' t accept the offer and acquisition hits mandatory 90% mark, then dissenting shareholder will be given Option 1 only $0.36 cash. Cannot pick and choose Option 2 anymore.

In such event, each Dissenting Shareholder shall be entitled to elect either the Cash Consideration or the Combi Consideration in respect of all its Shares within the timeline as prescribed under Section 215(1A) of the Companies Act (the " CA Election Period" ). After the expiry of the CA Election Period, the Offeror intends to exercise its right to compulsorily acquire all the Offer Shares not acquired under the Offer, and Dissenting Shareholders who have failed to make an election as to the form of the consideration by the expiry of the CA Election Period shall be deemed to have elected to receive, and shall receive, the Cash Consideration in respect of all its Shares.
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cmengchan
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25-Sep-2024 08:55     
 
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 Alert Admin 		If dissenting shareholder don' t accept the offer and acquisition hits mandatory 90% mark, then dissenting shareholder will be given Option 1 only $0.36 cash. Cannot pick and choose Option 2 anymore.

In such event, each Dissenting Shareholder shall be entitled to elect either the Cash Consideration or the Combi Consideration in respect of all its Shares within the timeline as prescribed under Section 215(1A) of the Companies Act (the " CA Election Period" ). After the expiry of the CA Election Period, the Offeror intends to exercise its right to compulsorily acquire all the Offer Shares not acquired under the Offer, and Dissenting Shareholders who have failed to make an election as to the form of the consideration by the expiry of the CA Election Period shall be deemed to have elected to receive, and shall receive, the Cash Consideration in respect of all its Shares.
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Entropy72
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25-Sep-2024 08:52     
 
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 Alert Admin 		Those who want to get option 2 can get at 36.5 this morning as speculators bow out with announcement of no sweeter offer.

Entropy72      ( Date: 24-Sep-2024 18:31) Posted:

No better offer in the pipeline. Announced today.
Either take one of the 2 options or risk holding to illiquid share if delisted.

If accepted, payment will be made within 7 business days from acceptance.

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Entropy72
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24-Sep-2024 23:56     
 
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 Alert Admin 		Only need 75% approval plus IFA opinion that exit offer is fair for voluntary delisting to proceed. Those who did not accept will be stuck.

If reached 90%, offeror can compulsory acquire all remaining shares whether they like it or not. Then the remaining shareholders must choose between option 1 or option 2

bigeater      ( Date: 24-Sep-2024 23:42) Posted:

If they don' t get 90%, they will still have to be listed

Entropy72      ( Date: 24-Sep-2024 18:31) Posted:

No better offer in the pipeline. Announced today.
Either take one of the 2 options or risk holding to illiquid share if delisted.

If accepted, payment will be made within 7 business days from acceptance.


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bigeater
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24-Sep-2024 23:42     
 
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 Alert Admin 		If they don' t get 90%, they will still have to be listed

Entropy72      ( Date: 24-Sep-2024 18:31) Posted:

No better offer in the pipeline. Announced today.
Either take one of the 2 options or risk holding to illiquid share if delisted.

If accepted, payment will be made within 7 business days from acceptance.

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Entropy72
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24-Sep-2024 18:31     
 
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 Alert Admin 		No better offer in the pipeline. Announced today.
Either take one of the 2 options or risk holding to illiquid share if delisted.

If accepted, payment will be made within 7 business days from acceptance.
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Entropy72
Master
24-Sep-2024 16:25     
 
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 Alert Admin 		Sorry, Bro. You got to check with L&T whether your SLA was bought on cash or margin.

hope4eva      ( Date: 24-Sep-2024 15:48) Posted:

But all 64800 shares were bought with cash so how come not reflected on cdp? I'm confused

Entropy72      ( Date: 24-Sep-2024 13:15) Posted:

Your margin account shares will not be shown in CDP. Only the cash bought ones will reflect in CDP.

There should be 30000 shares in L&T margin portfolio and 34000 in CDP. Total 64000
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hope4eva
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24-Sep-2024 15:48     
 
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 Alert Admin 		But all 64800 shares were bought with cash so how come not reflected on cdp? I'm confused

Entropy72      ( Date: 24-Sep-2024 13:15) Posted:

Your margin account shares will not be shown in CDP. Only the cash bought ones will reflect in CDP.

There should be 30000 shares in L&T margin portfolio and 34000 in CDP. Total 64000.

hope4eva      ( Date: 24-Sep-2024 11:08) Posted:

Thanks gor the reply! Idk if lim&tan is a margin account. But if they are, then why will some shares appear in cdp and some not. Cos if select option 2, they will base it on the number Of shares I have according to cdp account. Then what about my other shares. Very weird. I emailed lim&tan to ask.. waiting.
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Aeonfcuks
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24-Sep-2024 13:42     
 
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 Alert Admin 		Haha just checking only, I am hoping for a higher offer.

halleluyah      ( Date: 24-Sep-2024 13:16) Posted:

bro Aeon, why din sell 38ct at open mkt since u r choosing option 1 which pd 36ct?? it has been many days ago trading at 0.375/0.38....

Aeonfcuks      ( Date: 24-Sep-2024 11:30) Posted:

Can check if I choose option 1, but later the offer revised upwards, will I get the old or revised rate?
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halleluyah
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24-Sep-2024 13:16     
 
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 Alert Admin 		bro Aeon, why din sell 38ct at open mkt since u r choosing option 1 which pd 36ct?? it has been many days ago trading at 0.375/0.38....

Aeonfcuks      ( Date: 24-Sep-2024 11:30) Posted:

Can check if I choose option 1, but later the offer revised upwards, will I get the old or revised rate?
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