Post Reply
1-3 of 3
HFL not the same as Sgx Hong Fok corp ? why so cheap at HKD 55c ?
HFL only managed to buy back 41m shares. Offer closed last week.
=> Hong Fok Corp did not managed to reach over 50% holdings in HFL.
" The Board of Directors (&ldquo Board&rdquo ) of Hong Fok Corporation Limited (&ldquo HFC&rdquo or the &ldquo Company&rdquo ) refers to its announcement of 4 February 2019 in respect of the Share Buyback Offer by HFL. Capitalised terms not defined herein shall have the same meaning as that set out in the 4 February 2019 announcement. Based on information provided by HFL, the Share Buyback Offer was completed on 14 June 2019 and HFL has received valid acceptances in respect of 41,730,585 HFL Shares (the &ldquo Buyback Shares&rdquo ) at a price of HK$0.55 for each HFL Share pursuant to the Share Buyback Offer. All HFL Shares bought back by HFL will be cancelled. As set out in the 4 February 2019 announcement, the Company did not tender its HFL Shares into the Share Buyback Offer. Accordingly, following completion of the Share Buyback Offer the Company will continue to hold, through the HFC Subsidiaries, 631,724,993 HFL Shares which represent, on cancellation of the Buyback Shares, approximately 43.54 per cent. in HFL, an increase from approximately 42.33 per cent. in HFL immediately before the Share Buyback Offer."
=> Hong Fok Corp did not managed to reach over 50% holdings in HFL.
" The Board of Directors (&ldquo Board&rdquo ) of Hong Fok Corporation Limited (&ldquo HFC&rdquo or the &ldquo Company&rdquo ) refers to its announcement of 4 February 2019 in respect of the Share Buyback Offer by HFL. Capitalised terms not defined herein shall have the same meaning as that set out in the 4 February 2019 announcement. Based on information provided by HFL, the Share Buyback Offer was completed on 14 June 2019 and HFL has received valid acceptances in respect of 41,730,585 HFL Shares (the &ldquo Buyback Shares&rdquo ) at a price of HK$0.55 for each HFL Share pursuant to the Share Buyback Offer. All HFL Shares bought back by HFL will be cancelled. As set out in the 4 February 2019 announcement, the Company did not tender its HFL Shares into the Share Buyback Offer. Accordingly, following completion of the Share Buyback Offer the Company will continue to hold, through the HFC Subsidiaries, 631,724,993 HFL Shares which represent, on cancellation of the Buyback Shares, approximately 43.54 per cent. in HFL, an increase from approximately 42.33 per cent. in HFL immediately before the Share Buyback Offer."
PQTPQK ( Date: 17-Jun-2019 11:08) Posted:
|
any chance for this to go up ? seem like stuck at this level for sometime...