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Wow if seen your post how good, just three months approx 50c up? Do you still analyse other stock like Hong Fok, Tuan Sing etc any chances ?
AttasBoss ( Date: 18-Apr-2019 20:15) Posted:
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OM available $1.18..1.69% low risk gain otw to completion.
Even better for them if the assets get revaluated and find to b higher. 120 too good for them
$1.20 is a greatest offer and historical premium
Risk and reward is fair to owner and minority shareholders.
Risk and reward is fair to owner and minority shareholders.
AttasBoss ( Date: 18-Apr-2019 20:15) Posted:
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Have to reevaluate the assets, shld b more than nav 134.
Hupsteel gets $1.20 per share offer from controlling Lim family to delist
28/06/2019, 9:00pm
SINGAPORE (June 28): The founding Lim family of Hupsteel, the trader of industrial steel products, has made an offer to buy back all the shares it does not own and delist the company.
Hercules, special purpose vehicle incorporated by the Lim family to carry out the offer, is offering $1.20 for each, says Hupsteel in a Friday night filing.
The offer will be conditional upon the offeror having received more than 90% of the issued share capital at the close of the offer.
Hercules says it has no intention of revising the offer price.
The Lim family and their respective family holding companies currently own an aggregate of 66.1 million shares, or 54.16% of Hupsteel, and have given their undertaking to accept the offer.
Based on Hupsteel&rsquo s issued share capital of some 122 million, the company is valued at $146.4 million.
In the offer document, Hercules says the offer price represents a premium of 51.90% over the last transacted price per share of $0.790 on Thursday, and a premium of 58.60% over the VWAP per share for the three-month period.
In addition, the shares &ldquo have not been transacted on the SGX-ST at or above the Offer Price since May 2013,&rdquo it adds.
Hercules says the offer presents shareholders with a compelling cash exit opportunity to liquidate and realise their investment in the shares at a premium to the prevailing market prices which would otherwise not be available given the low trading liquidity.
The controlling Lim family believes that privatising the company will give the offeror and the management of the company more flexibility to manage the business of the company, optimise the use of its management and capital resources and facilitate the implementation of any operational change.
https://www.theedgesingapore.com/news/offer/hupsteel-gets-120-share-offer-controlling-lim-family-delist
Seems like there are somne insider buying before annoucement wor.
Will miniority shareholder koh boon hwee fight for better price???
120 too cheap, should b 134 above...
Your link not working, any way company announced last night about 7 plus PM of OCBC act as agent of Lim' s family to make offer $1.20 to Hupsteel (Not Hugsteel)
| AttasBoss ( Date: 28-Jun-2019 20:52) Posted: |
Yes General offer $1.20!!!!!!!!!!!!!!!!!
AttasBoss ( Date: 18-Apr-2019 20:15) Posted:
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Trading halt!
Pending annt
Pending annt
UK.. But no much avlb info from the website or google
shk363 ( Date: 09-Jun-2019 14:46) Posted:
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this buttermere from where?
AttasBoss ( Date: 09-Jun-2019 12:27) Posted:
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Buttermere open market purchase another 111, 300@$0.75 on 3 Jun 19
AttasBoss ( Date: 04-Jun-2019 08:57) Posted:
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Buttermere capital just become substantial shh.
Let's see what's next step to harvest this cash cow
Let's see what's next step to harvest this cash cow
Agreed.
AttasBoss ( Date: 22-Apr-2019 09:14) Posted:
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patient is the key to success, looking at cash rich company, low liqudity volume, bb slowly accumulating..
Cash 38m
Net current asset 91m
NAV 163m
OS shares 122mil
NAV/share $1.34 (price now 0.78)
Investment properties fair valuation add on addition of 40mil, or $0.33 to NAV
Too much excess cash on hand, next capital reduction candidate while waiting freehold properties to be realised
TP: $1.38
Net current asset 91m
NAV 163m
OS shares 122mil
NAV/share $1.34 (price now 0.78)
Investment properties fair valuation add on addition of 40mil, or $0.33 to NAV
Too much excess cash on hand, next capital reduction candidate while waiting freehold properties to be realised
TP: $1.38