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Wow, just saw that it dropped to 27.5c in Mar.
Those holding to that laughing to the bank.
Those holding to that laughing to the bank.
bwong07 ( Date: 13-Jun-2020 17:24) Posted:
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Offer will go through.......most will accept it......
I will give a yes.
It is a yes from me.
0.95 is afterall a 5 year high. Guess im voting a yes to cut my losses. Have some vested since $1.05. What are some of your thoughts?
Perennial' s controlling shareholders launch privatisation offer at 95 cents per share
Company in the news
The Edge Singapore 13/06/2020, 12:03am
SINGAPORE (June 12): Perennial Real Estate Holdings&rsquo substantial shareholders have joined forces with Chinese asset manager HOPU Fund Management Company to privatise the company.
The shareholders in concert include chairman Kuok Khoon Hong, vice chairman Ron Sim and CEO Pua Seck Guan, the company said on June 12.
The consortium, which already holds 82.43% of the company, is offering 95 cents per share and will not revise the offer. It last traded at 69 cents on June 9 before trading was halted on June 10 ahead of this announcement.
The offer is conditional upon the offerors achieving shareholding of not less than 90% in Perennial.
When so, HOPU will then fund the balance 17.57% of shares to be acquired from the minority shareholders.
&ldquo The offer represents an opportunity for shareholders to realise their investment in the Shares at a premium amidst economic uncertainty driven by the COVID-19 pandemic,&rdquo the company said.
The offerors also want greater flexibility to raise capital in support of Perennial&rsquo s future growth, giving its pipeline of large scale integrated development projects.
&ldquo The general decline in Perennial&rsquo s Share price has made it challenging to raise equity capital, compounded by the potential dilution to shareholders&rsquo interests,&rdquo the company said, adding that it has not raised funds via equity over the past five years, preferring to sell bonds instead.
&ldquo By privatising Perennial together with HOPU, the consortium believes Perennial will be able to secure a new long-term capital partner and tap on the track record and experience of HOPU and its affiliates,&rdquo the company said.
&ldquo In addition, Perennial will have greater flexibility to obtain equity funding from the Consortium and private sources, which will allow it to operate more efficiently in achieving its growth objectives,&rdquo the company added.
The privatisation offer was already hinted back in May 18, when the company said that &ldquo substantial shareholders&rdquo are &ldquo reviewing the options&rdquo , following a 14.85% surge in its share price earlier that day.
https://www.theedgesingapore.com/node/319062
https://www.theedgesingapore.com/node/319062
Right.
Condition of the offer is 90% of shares. Less than 90% offer rescind. Carry on to list on sgx.
More than 90% met. Compulsory acqusition. You must selll even if you dont want to. Is my understanding correct???
M
may i know what happened if you dont accept the offer ? i thought we have to lan lan accept the offer price ?
can some expert advise thank you !
Perennial shareholders are an envy lots as opposed to Hong Fok's.
Can u name a few take over targets???
gregtan123 ( Date: 13-Jun-2020 09:50) Posted:
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I feel all the perennial holders. I was looking at premium to last traded saga. Not sure if anyone followed the United Engineer Saga which Perennial had quite a stake in as well. Their first low ball bid failed in 2017 at 2.60. Guess their 2019 bid? The same 2.60 low bid. but b4 then they/UE transferred 4% away to the buyer then they got near majority then they up by 10 cents to 2.70 to get Oxley to FOLD then they force takeover all the shares. The NAV was 3.34 btw.
Culprits: Perennial, Yanlord, UE Board, DBS (same advisor for the offer).
This is SGX and Singapore for U, where the LOW Ball takeover is like carousell. Hence I say only buy Companies which China punks take over. Go see CWT, AVIC to name a few their takeover premium to last traded and NAV.
Culprits: Perennial, Yanlord, UE Board, DBS (same advisor for the offer).
This is SGX and Singapore for U, where the LOW Ball takeover is like carousell. Hence I say only buy Companies which China punks take over. Go see CWT, AVIC to name a few their takeover premium to last traded and NAV.
Why not just do a direct placement of shares to Hopu at 95cents if need capital for expansion, no need to do rights issue. Isn' t that what Hopu is ultimately doing anyway in this privatisation exercise, albeit with the offeror company?
If its to give investors option to exit, why have the 90% condition? This is more like a privatisation exercise. Wilmar will benefit.
fundamentalhero ( Date: 13-Jun-2020 00:19) Posted:
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Exactly.........no wonder most turn out to be traders instead of investors here........
Hai..........
Hai..........
Observers ( Date: 13-Jun-2020 06:50) Posted:
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Long term shareholder hold the share looking for multi-begger capital appreciation, turn out to be a bond-like investment.
No complaint when compared with other previous companies' buyout offers.
HEALTH CARE PLUS PROPERTY FIRM
ESSENTIALLY AND UNSHAKABLE MOAT OF BUSINESS THAT HAS PROPENSITY TO EXPONENTIAL GROWTH DUE TO HIGH GROWTH INDUSTRY AND WHAT MORE IT IS SITUATED IN POPULATION DENSED AND EMERGING ECONOMY.
CHECK PAGE 5 OF PDF FOR NAV, PG 18 OF PDF FOR BUSINESS OPERATIONS AND REACH OF BUSINESS AND HOW INCREDIBLE THE MOAT AND VALUE IT HAS PG 21 TO 25 FOR ALL THE PLANS THEY HAVE AND IN PROGRESS TO EXPLOIT THE HEALTHCARE INDUSTRY IN ASIA
https://links.sgx.com/FileOpen/Perennial_Annual%20Report%202019.ashx?App=Announcement& FileID=614842
ONE EXAMPLE?
IHH
NO $2/ SHARE, NO ACCEPT
ESSENTIALLY AND UNSHAKABLE MOAT OF BUSINESS THAT HAS PROPENSITY TO EXPONENTIAL GROWTH DUE TO HIGH GROWTH INDUSTRY AND WHAT MORE IT IS SITUATED IN POPULATION DENSED AND EMERGING ECONOMY.
CHECK PAGE 5 OF PDF FOR NAV, PG 18 OF PDF FOR BUSINESS OPERATIONS AND REACH OF BUSINESS AND HOW INCREDIBLE THE MOAT AND VALUE IT HAS PG 21 TO 25 FOR ALL THE PLANS THEY HAVE AND IN PROGRESS TO EXPLOIT THE HEALTHCARE INDUSTRY IN ASIA
https://links.sgx.com/FileOpen/Perennial_Annual%20Report%202019.ashx?App=Announcement& FileID=614842
ONE EXAMPLE?
IHH
NO $2/ SHARE, NO ACCEPT
CHECK IT FOR YOURSELF BY READING THEIR ANNUAL REPORT
CHECK THE PRIME LAND
CHECK THE NAV
WHOEVER WHO ACCEPTS ARE FOOLS
KILL THE GOOSE TO GET ONE THIRD OF THE EGG
https://links.sgx.com/FileOpen/Perennial_Annual%20Report%202019.ashx?App=Announcement& FileID=614842
NO $2 NO ACCEPT OFFER
THIS IS BASICALLY A 1/3 ARSED OFFER
CHECK THE PRIME LAND
CHECK THE NAV
WHOEVER WHO ACCEPTS ARE FOOLS
KILL THE GOOSE TO GET ONE THIRD OF THE EGG
https://links.sgx.com/FileOpen/Perennial_Annual%20Report%202019.ashx?App=Announcement& FileID=614842
NO $2 NO ACCEPT OFFER
THIS IS BASICALLY A 1/3 ARSED OFFER
ipo' ed at 70 cents. st james merger if holders remember [ share conversion on merger and sh-t terms ], upon counting average IPO holders like myself bought in at around $1.34/share
ipo holders would have lost $0.39 per share (not including inflation, brokerage fees, opportunity costs and etc)
how is this a good offer.
NOT TO MENTION THE COMPLETING PROJECTS ARE WORTH A LOT WITH HIGHER HIGH CHINA REAL ESTATE VALUES.
basically tycoons shortchanging and cheating money legally.
DO NOT ACCEPT OFFER
95 CENTS ON $1.58 NAV IS LIKE SELLING IT FOR 66% DISCOUNT ON SUPER PRIME AND VALUED PROPERTY
IF THEY ARE REALLY INTENDING TO DELIST. DELIST IT HIGHER THAN NAV NOT 66% DISCOUNT.
EVEN FOR NEW HOLDERS OR HOLDERS WHO BOUGHT CHEAP, IT IS BASICALLY SELLING YOUR PROPERTY FOR LELONG PRICE OF 66% IF ACCEPT OFFER.
if prct not good you think they will want to privatise? besides, the whole offer lacks depth or negative points because THEY KNOW SURE EARN AND BASICALLY 95 CENTS OFFER IS LIKE BUYING PROPERTY FOR 66% LELONG PRICE
MUST OFFER $1.50 / SHARE AT LEAST
it is mad.
MADLY unfair and oppressive
they have cornered this share from day 1 with high major holdings leading to close to 30% loss for IPO holders
basically used our monies free and cheap and for every dollar return only 70 cents
DO NOT SELL THIS CHEAP TO THEM
PRCT will most definitely go to $2 NAV as the land holdings are basically all prime
I personally will definitely not accept the offe
ipo holders would have lost $0.39 per share (not including inflation, brokerage fees, opportunity costs and etc)
how is this a good offer.
NOT TO MENTION THE COMPLETING PROJECTS ARE WORTH A LOT WITH HIGHER HIGH CHINA REAL ESTATE VALUES.
basically tycoons shortchanging and cheating money legally.
DO NOT ACCEPT OFFER
95 CENTS ON $1.58 NAV IS LIKE SELLING IT FOR 66% DISCOUNT ON SUPER PRIME AND VALUED PROPERTY
IF THEY ARE REALLY INTENDING TO DELIST. DELIST IT HIGHER THAN NAV NOT 66% DISCOUNT.
EVEN FOR NEW HOLDERS OR HOLDERS WHO BOUGHT CHEAP, IT IS BASICALLY SELLING YOUR PROPERTY FOR LELONG PRICE OF 66% IF ACCEPT OFFER.
if prct not good you think they will want to privatise? besides, the whole offer lacks depth or negative points because THEY KNOW SURE EARN AND BASICALLY 95 CENTS OFFER IS LIKE BUYING PROPERTY FOR 66% LELONG PRICE
MUST OFFER $1.50 / SHARE AT LEAST
it is mad.
MADLY unfair and oppressive
they have cornered this share from day 1 with high major holdings leading to close to 30% loss for IPO holders
basically used our monies free and cheap and for every dollar return only 70 cents
DO NOT SELL THIS CHEAP TO THEM
PRCT will most definitely go to $2 NAV as the land holdings are basically all prime
I personally will definitely not accept the offe