Fragrance   

Fragrance

Fragrance Group applies to delist from SGX

PROPERTY developer Fragrance Group announced on Wednesday that it has made an application to the Singapore Stock Exchange to delist the Catalist- listed company following the completion of its acquisition.

In early July, Fragrance Group' s founder and chief executive Koh Wee Meng, through offeror JK Global Treasures, made a voluntary conditional cash offer for all the issued and paid-up ordinary shares of the group at 13.8 Singapore cents per share to take the company private.

The offer price of 13.8 Singapore cents per share exceeded Fragrance' s last traded price on July 8 on the Singapore Exchange (SGX) of 11.8 cents, representing a 16.9 per cent premium. It also represents a premium of 19 per cent, 19 per cent, 20 per cent and 21.1 per cent respectively over the one-month, three-month, six-month and 12-month volume-weighted average price per share.

The offeror intended to privatise the company, as it expects Fragrance not needing to access the Singapore equity capital markets to finance its operations in the foreseeable future.

Fragrance Group' s shares closed flat at 13.7 Singapore cents on Wednesday.

 

 

Ok, I saw the PR that it is unconditional offer. Bought this share long time back when it is 20c+. Haiz.

 

Offer for Fragrance Group turns unconditional

The offer for Fragrance Group has turned unconditional as the offeror JK Global Treasures and parties acting in concert have secured over 50 per cent of the total issued shares, said the offeror on Monday.

After garnering about 91.5 per cent of the total shares with parties acting in concert as at 6pm on July 11, the offeror announced in a statement that the acquisition is now unconditional.

The offer document will be sent between 14 and 21 days from when the offer was announced, after which shareholders of Fragrance can accept the offer.

The property developer earlier announced on Friday that JK Global Treasures intends to make a voluntary conditional cash offer for all issued and paid-up ordinary shares of the group at 13.8 cents per share.

The trading halt on the counter was also lifted during the midday break in a separate announcement. As at 1.52pm, it was trading up 17 per cent or two Singapore cents at 13.8 cents.

 

 

Then you may be stuck with these shares like perpetually forever and you won' t be able to sell them on the open market anymore, if you do not take up this offer now
 

dchia78      ( Date: 12-Jul-2021 12:39) Posted: What does this mean for minority shareholders? Are we able to choose not to sell? What happens next?

 

AF global are Aspial and Frangrance JV

MarketSensors      ( Date: 09-Jul-2021 10:49) Posted: Aspial + Fragrance + AF global = 1 company ?

 

sadly another one in which the majority shareholder taking full advantage of the minority shareholders. But in this case, at least the offerer declared that they are closely associated with the majority shareholders

Starship      ( Date: 09-Jul-2021 14:37) Posted: Yet another LowBall privatisation offer in SGX Circus Maximus?

 

What does this mean for minority shareholders? Are we able to choose not to sell? What happens next?

 

Yet another LowBall privatisation offer in SGX Circus Maximus? 

 

Fragrance receives offer to be taken private at S$0.138 per share

Fragrance Group on Friday announced that JK Global Treasures intends to make a voluntary conditional cash offer for all the issued and paid-up ordinary shares of the group at 13.8 Singapore cents per share.

Shares of the property developer last closed on Thursday at 11.8 cents, with a market capitalisation of S$793 million.

The offeror JK Global Treasures and parties acting in concert with it currently hold 5.76 billion shares in Fragrance, representing an 85.8 per cent stake in the company.

JK Global Treasures' sole shareholder and director Koh Wee Meng, who is the executive chairman and chief executive of Fragrance, currently owns 74.7 per cent of Fragrance shares, while his wife Lim Wan Looi, an executive director of Fragrance, owns a 10.9 per cent stake in the company. They have provided an irrevocable undertaking to tender all of their respective shares in acceptance of the offer.

The offer price of 13.8 cents per share exceeds Fragrance' s last traded price on July 8 on the Singapore exchange (SGX) of 11.8 cents, representing a 16.9 per cent premium. It also represents a premium of 19 per cent, 19 per cent, 20 per cent and 21.1 per cent respectively over the one-month, three-month, six-month and 12-month volume-weighted average price per share.

DBS, acting as the financial adviser to JK Global Treasures, noted in a bourse filing that the offer was an " opportunity for shareholders to realise their investment at a premium without incurring brokerage fees" .

It also added that the offer " represents a unique cash exit opportunity for shareholders to liquidate and realise their entire investment at a premium to the prevailing market prices and free of brokerage costs, being an option which may not otherwise be readily available due to the low trading liquidity of Fragrance shares" . The company had an average daily trading volume of 0.002 per cent for the one-month, three-month, six-month and 12-month periods.

The offeror, with an intention to privatise the company, expects Fragrance will not need access to the Singapore equity capital markets to finance its operations in the foreseeable future, hence it " does not believe it is necessary for the company to maintain a listing on the SGX" .

As Mr Koh, who holds more than 50 per cent of Fragrance' s shares, has undertaken to accept the offer, no other general offer will be capable of turning unconditional or succeeding, DBS said.

It added that JK Global Treasures " believes that privatising the company will provide the offeror with more flexibility to manage the business of the company and its subsidiaries, optimise the use of its management and resources and facilitate the implementation of any operational change."

 

 

I see that there is a huge profit coming from their recently completed Australian projects, where profits will be realized in the 2Q or 3Q.  Was hoping to see huge price gains when the results are announced.  Haha, the Kohs are doing a takeover before the results announcement.   

 

I finally understand why from 2014 till now, Dr Koh & his wife have been increasing their holding. Is to wait for this day. The Final Day

 

THE OFFER

Offer Terms. In accordance with Section 139 of the Securities and Futures Act, Chapter 289 of Singapore and the Code and subject to the terms and conditions to be set out in the formal offer document to be issued by DBS Bank on behalf of the Offeror (the &ldquo Offer Document&rdquo ), the Offer will be made by the Offeror for all the Fragrance Shares on the following basis: 2.1.1

For each Fragrance Share: S$0.138 in cash (the &ldquo Offer Price&rdquo ).

 

Aspial + Fragrance + AF global = 1 company ?

 

Trading halt today.   
Curious to know what is the trading halt for?

 

How will covid affect this hotel chain?  I believe they had participated in SHN programme which will cushion the impact of covid.

Any thoughts from the forumers?

 

How is the room occupancy of this budget hotel  during this period?

Although the number of tourists has dropped drasticallly, is the hotel being used as an holding facility or temp housing for workers/visitors affected by COVID regulatons?

 

 

This one share price still 老 神 在 在 . Not much movement 😎

Secret_Squirrel      ( Date: 14-Jan-2020 16:58) Posted: Slowly creeping up if you look at the 3 month chart infoshare      ( Date: 08-Dec-2019 23:42) Posted: source: Business Times Fragrance Group  helmed by James Koh is one of the biggest players riding on the trend to  convert  properties to  hotels. The  group  has received provisional permission from URA to redevelop its 26-storey freehold flagship  Fragrance  Empire Building (above) into a 1,000-room  hotel

 

Slowly creeping up if you look at the 3 month chart

infoshare      ( Date: 08-Dec-2019 23:42) Posted: source: Business Times Fragrance Group  helmed by James Koh is one of the biggest players riding on the trend to  convert  properties to  hotels. The  group  has received provisional permission from URA to redevelop its 26-storey freehold flagship  Fragrance  Empire Building (above) into a 1,000-room  hotel

 

source: Business Times

Fragrance Group  helmed by James Koh is one of the biggest players riding on the trend to  convert  properties to  hotels. The  group  has received provisional permission from URA to redevelop its 26-storey freehold flagship  Fragrance  Empire Building (above) into a 1,000-room  hotel