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Estate already showed signs of not wanting to compete by selling mother shares in oder to convert warrants into mother shares, instead of increasing its holding and trigger a GO. It is showing signs of accepting the outcome that HW will get the management control eventually and it will rather sit back and relax with the existing holding and continue to be SSH and getting dividends if any from future HW Management. Who knows, it may just throw in the towel soon !!!
huattuatua ( Date: 24-Oct-2024 13:17) Posted:
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IFA report already out and the verdict is " FAIR AND REASONABLE" at 670 !!!
huattuatua ( Date: 24-Oct-2024 13:17) Posted:
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now left with lim estate vs hanwa
and awaiting the IFA and CCCs report
methinks hanwa has upper hand
and awaiting the IFA and CCCs report
methinks hanwa has upper hand
SmallSmall ( Date: 24-Oct-2024 12:48) Posted:
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Sold mostly at 665 !!! Made tons of profits easily !!! Next time I also look for TO target and join in !!! Not much risk !!! LOL
Giant8888 ( Date: 24-Oct-2024 13:10) Posted:
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Haha MS is but an arbitrage traders!
Eagle88 ( Date: 24-Oct-2024 13:05) Posted:
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This was done few days ago, by now, it should have off loaded all its holding !!!
SmallSmall ( Date: 24-Oct-2024 12:48) Posted:
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Morgan Stanely sold another 26.6 mil bring down their interest to 3.822%.
It is not over yet. But MS has started to off load and HW is the one accumulating, every day, HW is picking up at below 670 and added few percents to its holding, with time on HW' s side, sooner or later it will achieve above 50% as see no action by other competing party or parties. If HW failed to achieve above 50% by due date, it may still continue to extend and wait for weakholders to throw in until no more weakholders. Unless CCCS does not approve it, but it is very2 unlikely. Unless SSH join hands in counter offering HW at the last minute, but time is not on their side, as HW can get cheap2 below 670 from open market !!!
Giant8888 ( Date: 24-Oct-2024 11:38) Posted:
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Independent financial adviser deems offer for Dyna-Mac &lsquo fair and reasonable&rsquo
Zico Capital recommends that shareholders accept the offer
THE takeover offer for oil-and-gas contractor Dyna-Mac at S$0.67 a share has been deemed &ldquo fair and reasonable&rdquo by the independent financial adviser (IFA) of the deal.
The adviser, Zico Capital, has thus recommended that shareholders accept the offer, said a bourse filing on Wednesday (Oct 23).
In September, South Korean company Hanwha launched a voluntary conditional cash offer through a special-purpose company to take management control of Dyna-Mac at S$0.60 a share.
This was later revised to a final offer price of S$0.67 a share.
The offeror said it plans to review Dyna-Mac&rsquo s business and ensure its continuity, and to lead it to further growth and development. It does not intend for Dyna-Mac to be delisted from the Singapore Exchange (SGX).
In determining that the offer was &ldquo fair&rdquo , the IFA noted that the final offer price of S$0.67 a share is within its estimated value of between S$0.66 and S$0.80, among other factors.
The final offer price has a premium over the one-month, three-month and six-month volume-weighted price averages of the shares, prior to and including the last trading day before the offer was announced.
It also has a premium over the last traded price on the last trading day, with the shares hitting their highest price of S$0.675 after the offer was announced.
The price over the adjusted net asset value (ANAV), diluted ANAV, net tangible asset value (NTA) and diluted NTA ratios &ndash as implied by the final offer price &ndash are also above the range of the price over NAV and NTA ratios of comparable companies.
But the IFA also noted that the price-to-earnings ratio of the company, as implied by the final offer price, is within the range of, but below, the mean and median of that of comparable companies.
The enterprise value over the earnings before interest, taxes, depreciation and amortisation (Ebitda) of the company is also below the mean and median of that of comparable companies, although it was within range.
In determining that the deal was &ldquo reasonable&rdquo , the IFA noted that the final offer price represents a premium of 67.5 per cent to what the offerors paid for their stakes in the company in May 2024.
Shares of Dyna-Mac were not actively traded during the reference period, but became more actively traded after the offer was announced.
The IFA also noted that the offer presents an opportunity for shareholders to realise their investment at a premium to the prevailing share price, without incurring brokerage and other trading costs that would typically erode returns.
Meanwhile, the company&rsquo s &ldquo generally favourable&rdquo outlook and net-cash position of S$307.70 million as at Jun 30, 2024, undermines the reasonableness of the offer.
Dyna-Mac&rsquo s outlook is supported by its current order book, which was on an upward track during the period under review, and reflects sustained market demand, the IFA noted.
While the offeror said it has no intention to increase or revise this improved offer, it said on Oct 14 that it &ldquo reserves the right to do so in a competitive situation&rdquo .
Some analysts and the estate of Dyna-Mac&rsquo s late founder had earlier said the initial offer of S$0.60 per share was not compelling.
It aint over till it is over. IFA was merely validating what we all know already CEO Lim accepted because well he has to play nice to HW. But the real cards have yet to reveal. Pending CCCS ruling aside, Estate and/or third party (whether collective consortium eg. MS+Estate+?}) can still be game changers. 0.67 cts base price is more or less determined. Upside still exists. No harm wait a little
ysh2006 ( Date: 24-Oct-2024 10:36) Posted:
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Mr Eargle why Seatrium leh...DM not yet over mah...HW so long only get 29.5% still got one week plus to go ..
Hi Bro Bear, You are most welcome !!! Hope everyone who follows this stock from last year until now make lots of profits !!! At least to make profits to cover losses in other counters !!! LOL
Now my first love will be Seatrium, so will monitor this stock very closely. Unless there' s any further action in DM and future DM if under Hanwha and not delisted, or didnt go through due to whatever reasons. Will see what Hanwha will bring value to future DM Hanwha or Hanwha DM or just Hanwha Ocean???
Now my first love will be Seatrium, so will monitor this stock very closely. Unless there' s any further action in DM and future DM if under Hanwha and not delisted, or didnt go through due to whatever reasons. Will see what Hanwha will bring value to future DM Hanwha or Hanwha DM or just Hanwha Ocean???
MrBear12 ( Date: 23-Oct-2024 19:41) Posted:
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Thanks Bro!
I misread, I thought the message was MS disposed of all their holdings.
So MS still holding on to a large chunk of shares.
I misread, I thought the message was MS disposed of all their holdings.
So MS still holding on to a large chunk of shares.
newbie2019 ( Date: 24-Oct-2024 09:12) Posted:
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Here you go.
MUFJ (23 Oct)
https://links.sgx.com/1.0.0/corporate-announcements/HEIDCLJ1DW2HRPEW/0ab23dd7a2c0ab1170244a323636b14aecf9a6a4bc8fb04cb2cc75315240a583
Morgan Stanley (23 Oct)
https://links.sgx.com/1.0.0/corporate-announcements/B3AF44H5M3IPDB1I/1cee8c31bbf2132c28f5bb4f45140fe5447b306a2b9bebaa43ae9ee9514aff19
MUFJ (23 Oct)
https://links.sgx.com/1.0.0/corporate-announcements/HEIDCLJ1DW2HRPEW/0ab23dd7a2c0ab1170244a323636b14aecf9a6a4bc8fb04cb2cc75315240a583
Morgan Stanley (23 Oct)
https://links.sgx.com/1.0.0/corporate-announcements/B3AF44H5M3IPDB1I/1cee8c31bbf2132c28f5bb4f45140fe5447b306a2b9bebaa43ae9ee9514aff19
stlimst ( Date: 24-Oct-2024 08:53) Posted:
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I can' t seem to find the notification of MS has sold their holding.
SmallSmall ( Date: 23-Oct-2024 17:31) Posted:
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Precious lessons learnt about mother and son here. Hope there will be more such companies on SGX. Only disappointment was the final offer came at the lower end of 66 to 80 cents.
But thank you all for the discussions, quarrels and encouragement. Special vote of thanx to Eagle88 who has flown so often here and there and who believed in the worthiness of the company when at times I lost faith too.
Come over to some similar companies, Eagle88, you are always welcome to share a meal with a bear. You can have the choicest portions of the kill.
🐻
But thank you all for the discussions, quarrels and encouragement. Special vote of thanx to Eagle88 who has flown so often here and there and who believed in the worthiness of the company when at times I lost faith too.
Come over to some similar companies, Eagle88, you are always welcome to share a meal with a bear. You can have the choicest portions of the kill.
🐻
Exactly.
https://www.businesstimes.com.sg/companies-markets/independent-financial-adviser-deems-offer-dyna-mac-fair-and-reasonable
Dear friends, curtain falls.
Good bye!
💖 ❤ ️ 💓 🐻 🙏
https://www.businesstimes.com.sg/companies-markets/independent-financial-adviser-deems-offer-dyna-mac-fair-and-reasonable
Dear friends, curtain falls.
Good bye!
💖 ❤ ️ 💓 🐻 🙏
IFA said fair and reasonable so it said accept it lah.
According to today's release, HW only bought 4m shares at 665. So who bought the rest? Or is it just left hand pass to right hand?
Winsmallsmall ( Date: 23-Oct-2024 15:07) Posted:
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0.66-0.80,mid point is 0.73, offer price 0.67 only 0.01cents higher then the lower price ?calling this as within the range??????
Should be 0.75-0.78 right?
Winsmallsmall ( Date: 23-Oct-2024 18:23) Posted:
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