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221-240 of 1912
This is definitely possitive to UE shareholders . Monday should gap up to 2.60 and above.
MichaelSchenker ( Date: 23-Feb-2018 19:01) Posted:
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Read the last line of the article. Didn' t the writer realise UE is on Trading Halt today? LOL!
Oxley, UE shareholders block purchase of WBL shares from Yanlord Perennial
http://www.businesstimes.com.sg/companies-markets/oxley-ue-shareholders-block-purchase-of-wbl-shares-from-yanlord-perennial
IN A surprise turn of events, minority shareholders of United Engineers (UE), including property developer Oxley Holdings, have foiled a bid by UE' s new shareholder, Yanlord Perennial Investment (YPI), and UE' s former shareholder, OCBC, to sell their shares in WBL to UE.
Out of the 171.3 million UE shares that voted on the deal, 67.44 per cent rejected it.
Oxley has a 15 per cent stake in UE, or just over 95.7 million shares.
Oxley deputy CEO Low See Ching told The Business Times by phone: " Our board of directors requested us to appoint an independent corporate advisor to evaluate the deal as we own a substantial stake in UE.
" It took our advisor two weeks to assess the deal. They came out with a very comprehensive report that was tabled to the Oxley board to evaluate. The decision by the board was made yesterday night and the majority voted no. So we have to carry out that decision."
YPI has controlled the board of UE since late last year. It owns a 33.5 per cent stake in UE, which it purchased from the OCBC group and the OCBC Lee family for S$2.60 a share last July.
At the same time, YPI agreed to buy 10 per cent of WBL for S$2.07 a share. YPI also committed to acquire another 19.9 per cent of WBL from OCBC down the road.
In December, the new board of UE proposed that UE make a cash offer for WBL at the same price YPI had paid, " taking into account that certain WBL shareholders had publicly disclosed that they were willing to divest their shares" .
These interested person transactions required the approval of UE' s minority shareholders.
Last week, The Business Times questioned if UE was paying a fair price for WBL.
Although it' s not unusual for a large Singapore property company like UE to trade at 0.9 times book value, companies of a comparable size to WBL that develop properties in China trade at a mere 0.5 times price-to-NTA (net tangible assets).
At S$2.07 a share, UE would only receive a 21.6 per cent discount to WBL' s net asset value per share of S$2.64 at the end of last year.
Shares of United Engineers closed unchanged at S$2.56 on Friday.
Oxley, UE shareholders block purchase of WBL shares from Yanlord Perennial
http://www.businesstimes.com.sg/companies-markets/oxley-ue-shareholders-block-purchase-of-wbl-shares-from-yanlord-perennial
Fri, Feb 23, 2018 - 6:29 PM
IN A surprise turn of events, minority shareholders of United Engineers (UE), including property developer Oxley Holdings, have foiled a bid by UE' s new shareholder, Yanlord Perennial Investment (YPI), and UE' s former shareholder, OCBC, to sell their shares in WBL to UE.
Out of the 171.3 million UE shares that voted on the deal, 67.44 per cent rejected it.
Oxley has a 15 per cent stake in UE, or just over 95.7 million shares.
Oxley deputy CEO Low See Ching told The Business Times by phone: " Our board of directors requested us to appoint an independent corporate advisor to evaluate the deal as we own a substantial stake in UE.
" It took our advisor two weeks to assess the deal. They came out with a very comprehensive report that was tabled to the Oxley board to evaluate. The decision by the board was made yesterday night and the majority voted no. So we have to carry out that decision."
YPI has controlled the board of UE since late last year. It owns a 33.5 per cent stake in UE, which it purchased from the OCBC group and the OCBC Lee family for S$2.60 a share last July.
At the same time, YPI agreed to buy 10 per cent of WBL for S$2.07 a share. YPI also committed to acquire another 19.9 per cent of WBL from OCBC down the road.
In December, the new board of UE proposed that UE make a cash offer for WBL at the same price YPI had paid, " taking into account that certain WBL shareholders had publicly disclosed that they were willing to divest their shares" .
These interested person transactions required the approval of UE' s minority shareholders.
Last week, The Business Times questioned if UE was paying a fair price for WBL.
Although it' s not unusual for a large Singapore property company like UE to trade at 0.9 times book value, companies of a comparable size to WBL that develop properties in China trade at a mere 0.5 times price-to-NTA (net tangible assets).
At S$2.07 a share, UE would only receive a 21.6 per cent discount to WBL' s net asset value per share of S$2.64 at the end of last year.
Shares of United Engineers closed unchanged at S$2.56 on Friday.
EGM today , but should not be the reason for the halt ?
MichaelSchenker ( Date: 23-Feb-2018 08:47) Posted:
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But why unexpected halt?
serious ( Date: 22-Feb-2018 11:59) Posted:
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Announcing fy result today , dividend should be not less than 10 cents.
Don' t miss the boat and don' t procrastinate
desmodeus ( Date: 31-Jan-2018 22:21) Posted:
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Nta post wbl offer is $3.22
Potential of Shenyang Orchard Summer Palace and freehold Gold Coast mine not taken into account.
UE is trading now for a song
Time to accumulate before it shoots up
desmodeus ( Date: 06-Jan-2018 21:49) Posted:
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Oxley Holdings Limited has subscribed for 25.5% of the issued share capital of Pindan Capital Mermaid Beach Pty Ltd, which has acquired a 1,417 sqm site in the centre of Broadbeach and Mermaid Beach on the Gold Coast, Australia.
a coincidence?
UE has a a long Brisbane beachfront property too
a coincidence?
UE has a a long Brisbane beachfront property too
Watch for this stock which could be another GPL. Quietly the BBs are accumulating.
serious ( Date: 06-Dec-2017 12:38) Posted:
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Mkt talk that YP may sell their 37% to oxley just to bail themselves out of this deadlock .
Under valued commercial property portfolio suitable for patient capital
http://singaporepropertykaki.com/2017/11/28/this-is-not-an-online-get-rich-quick-scam-to-invest-in-commercial-property/
http://singaporepropertykaki.com/2017/11/28/this-is-not-an-online-get-rich-quick-scam-to-invest-in-commercial-property/
YP purchased :
97,000 shares @2.60 on 14/11 .
358,200 shares @2.58 on 17/11.
Very possitive sign !
97,000 shares @2.60 on 14/11 .
358,200 shares @2.58 on 17/11.
Very possitive sign !
If drop below $2, can buy and wait for next privatisation.
investshare ( Date: 16-Nov-2017 09:21) Posted:
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Finally dropped below my selling price ...
investshare ( Date: 16-Oct-2017 21:45) Posted:
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Is this a good buy now ?
I could be right?
investshare ( Date: 16-Oct-2017 21:45) Posted:
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I must admit I was wrong on this. I thought price would drop below 2.60 after offer expiry but it didn't. I sold at 2.61. :(
. .. with thee current land/home/Developers bull noises around everywhere!
thy gut' s feel WL closely, Very closely!
Round 2 should possibly jus fast fast on thee way!
good luck folks n huat ' huat ' Huat ' arh!
thy gut' s feel WL closely, Very closely!
Round 2 should possibly jus fast fast on thee way!
good luck folks n huat ' huat ' Huat ' arh!
back to unlocking values of all the parties involved.
as some one suggested that merger may be in the woods, reits is another one. asset stripping is a remote possibility because the UE brandname has equity.
good to see UE is holding well
as some one suggested that merger may be in the woods, reits is another one. asset stripping is a remote possibility because the UE brandname has equity.
good to see UE is holding well