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Thot if buyers buy from the market at higher prices, they have to revise the offer price of $3.38.
jumpstart ( Date: 15-Jul-2017 11:38) Posted:
In due course, if you still hold the shares, a letter will be sent to you for you to accept the offer with a return envelop, You must sign to accept the offer so as to meet at least 90% shareholders acceptance to privatise. If 90% shareholders acceptance is reached, then you just need to wait for their process and the money of $3.38 per share will be credited into your account.
However, if 90% acceptance is not reached, the privatisation if off. Then we have to see what will be the buyer' s action. Buyer may increase bid or give up privatisation, or buyer may buy more shares in the market (can be higher price than $3.38) so as to reach the 90%.
subra1969 ( Date: 15-Jul-2017 09:07) Posted:
| hello friends, can one of you explain how the transaction will be completed for retail investors? I mean for common retail investors if they donot sell now. will the process automatically take care of the sale and money deposited into our account @ S$3.38 per share? or should we ( retail investors ) take any action like filling up a form and sending to the registrar etc., etc., Sorry if this is a basic question. |
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In due course, if you still hold the shares, a letter will be sent to you for you to accept the offer with a return envelop, You must sign to accept the offer so as to meet at least 90% shareholders acceptance to privatise. If 90% shareholders acceptance is reached, then you just need to wait for their process and the money of $3.38 per share will be credited into your account.
However, if 90% acceptance is not reached, the privatisation if off. Then we have to see what will be the buyer' s action. Buyer may increase bid or give up privatisation, or buyer may buy more shares in the market (can be higher price than $3.38) so as to reach the 90%.
subra1969 ( Date: 15-Jul-2017 09:07) Posted:
| hello friends, can one of you explain how the transaction will be completed for retail investors? I mean for common retail investors if they donot sell now. will the process automatically take care of the sale and money deposited into our account @ S$3.38 per share? or should we ( retail investors ) take any action like filling up a form and sending to the registrar etc., etc., Sorry if this is a basic question. |
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Thank for pump STI above 3300
Starship ( Date: 14-Jul-2017 22:02) Posted:
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hello friends, can one of you explain how the transaction will be completed for retail investors? I mean for common retail investors if they donot sell now. will the process automatically take care of the sale and money deposited into our account @ S$3.38 per share? or should we ( retail investors ) take any action like filling up a form and sending to the registrar etc., etc., Sorry if this is a basic question.
Don't think that the investor refers to the shareholder.
Starship ( Date: 14-Jul-2017 22:02) Posted:
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Agreed, thanks to the investors here for your encouragement and wisdom. Finally, we fought hard and overcame the agony, Congratulations to everyone!
Firstly congrats to those who held firmly on ( I know who you are, but the list is too long..)
The price is acceptable though not spectacular. That is why there was no mention of it being
the final price. GIC is also open to anyone who can offer higher than the Chinese, and am
watching closely the moves by P. singer.
Thanks again for the mental support from some of the contributors here.
The wordings are all draft by lawyers.....so in layman term .....Under the scheme meeting ( which will be send out to shareholders on the detail I believe) IF ( that is IF ) any other higher offer that is given to GIC ( that is above 3.38 plus the 6 c dividend ) ...and IF Chinese Gp do and cannot match this higher offer......GIC can reserve its right to sell to this higher offer.
Actually this is a great move by GIC....telling the angmoh...if u can afford more than 3.38, its still yours...dont compliant.
Hard to say if they will counter bid w higher offer....let see. as I dont plan to sell in the meantime.
nea03177 ( Date: 14-Jul-2017 22:47) Posted:
Don't understand the part about GIC can have option to accept a higher offer than the Chinese Consortium's offer. Thought the undertaking is irrevocable
Clipper ( Date: 14-Jul-2017 16:36) Posted:
| Agreed with FATABA. GIC has ' bird' in hand with the $3.38 offer and can accept higher counter offer. The dividend and 8-9 cents premium to current price is worth the wait. The only only issue is the waiting time for the completion and payment may be several weeks. Hopefully, the Chinese will not have any trouble getting funds out from China to pay for this purchase. Atleast this consortium is reasonable compared to the UE case. |
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Don't understand the part about GIC can have option to accept a higher offer than the Chinese Consortium's offer. Thought the undertaking is irrevocable
Clipper ( Date: 14-Jul-2017 16:36) Posted:
| Agreed with FATABA. GIC has ' bird' in hand with the $3.38 offer and can accept higher counter offer. The dividend and 8-9 cents premium to current price is worth the wait. The only only issue is the waiting time for the completion and payment may be several weeks. Hopefully, the Chinese will not have any trouble getting funds out from China to pay for this purchase. Atleast this consortium is reasonable compared to the UE case. |
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http://www.businesstimes.com.sg/companies-markets/hot-stock-glp-jumps-22-to-s330-with-s338share-bid-on-the-tabletanakow ( Date: 14-Jul-2017 21:51) Posted:
You mean GIC has the rights and authority to stop investor from accepting a higher bid?
Starship ( Date: 14-Jul-2017 21:49) Posted:
Until before the Scheme Meeting:
" GIC' s undertaking, however, allows the investor to accept a higher competing bid if it comes along before the scheme meeting."
Scheme Meeting
Details of the Scheme Meeting to be convened will be contained in the Scheme Document which is expected to be dispatched to shareholders in due course.
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You mean GIC has the rights and authority to stop investor from accepting a higher bid?
Starship ( Date: 14-Jul-2017 21:49) Posted:
Until before the Scheme Meeting:
" GIC' s undertaking, however, allows the investor to accept a higher competing bid if it comes along before the scheme meeting."
Scheme Meeting
Details of the Scheme Meeting to be convened will be contained in the Scheme Document which is expected to be dispatched to shareholders in due course.
gopguppy ( Date: 14-Jul-2017 20:43) Posted:
| It is a cool move by GIC to accept the chinese offer, and yet leave the door open for higher bids. Do we know by when this option will expire |
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Until before the Scheme Meeting:
" GIC' s undertaking, however, allows the investor to accept a higher competing bid if it comes along before the scheme meeting."
Scheme Meeting
Details of the Scheme Meeting to be convened will be contained in the Scheme Document which is expected to be dispatched to shareholders in due course.
gopguppy ( Date: 14-Jul-2017 20:43) Posted:
It is a cool move by GIC to accept the chinese offer, and yet leave the door open for higher bids. Do we know by when this option will expire?
Atom99 ( Date: 14-Jul-2017 19:46) Posted:
| Will there be any counterbidder(s) for GLP |
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Just a thought for hedge. Consider buying perennial and Yanlord becos if they get UE o the cheap they have synergies in SG and China and medium term will be positive for their share price. I am Long term vested in YLL, PER and GLP. As these are my preferred Long term china plays/ healthcare and both trading at 0.5 P/B. If GLP Indeed pays off, my two-way hedge to buy UE below 2.60 in case of improved offer, and add the acquiring stocks.
This is what i posted on UE yesterday, i do like Perennial as a healthcare china play. ( am in the healhcare line). Anyway. huat and many congrats to all those who saw this to the end. I sweated it out and my last 10 buys of GLP were 2.70' s - 2,80s in July only to get a big shock on 12th July. We should all attend the shareholder approval meeting AND meet up for a drink to celebrate afterwards.
moron101 ( Date: 14-Jul-2017 20:13) Posted:
| Really a happy-ending story for most of the investors. Time to identify the next buyout target & move on... Anyone to recommend? |
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It is a cool move by GIC to accept the chinese offer, and yet leave the door open for higher bids. Do we know by when this option will expire?
Atom99 ( Date: 14-Jul-2017 19:46) Posted:
Will there be any counterbidder(s) for GLP ?
gopguppy ( Date: 14-Jul-2017 19:09) Posted:
WOW!! I was on the plane in the afternoon and when I landed into Singapore in the evening and saw the announcement, I am living in a different world now! GLP committee and GIC did not fail the retail investors.
The only thing is why 9 months to hold till Apr 2018? I know this timeline is the longest it can take, but this LONG period may have many investors sell in the open market. Opportunity Cost. I do not intend to sell before XD, but not sure I will hold it even beyond this year.
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Really a happy-ending story for most of the investors. Time to identify the next buyout target & move on... Anyone to recommend?
No $3.50 no sell
Atom99 ( Date: 14-Jul-2017 19:46) Posted:
Will there be any counterbidder(s) for GLP ?
gopguppy ( Date: 14-Jul-2017 19:09) Posted:
WOW!! I was on the plane in the afternoon and when I landed into Singapore in the evening and saw the announcement, I am living in a different world now! GLP committee and GIC did not fail the retail investors.
The only thing is why 9 months to hold till Apr 2018? I know this timeline is the longest it can take, but this LONG period may have many investors sell in the open market. Opportunity Cost. I do not intend to sell before XD, but not sure I will hold it even beyond this year.
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Will there be any counterbidder(s) for GLP ?
gopguppy ( Date: 14-Jul-2017 19:09) Posted:
WOW!! I was on the plane in the afternoon and when I landed into Singapore in the evening and saw the announcement, I am living in a different world now! GLP committee and GIC did not fail the retail investors.
The only thing is why 9 months to hold till Apr 2018? I know this timeline is the longest it can take, but this LONG period may have many investors sell in the open market. Opportunity Cost. I do not intend to sell before XD, but not sure I will hold it even beyond this year.
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WOW!! I was on the plane in the afternoon and when I landed into Singapore in the evening and saw the announcement, I am living in a different world now! GLP committee and GIC did not fail the retail investors.
The only thing is why 9 months to hold till Apr 2018? I know this timeline is the longest it can take, but this LONG period may have many investors sell in the open market. Opportunity Cost. I do not intend to sell before XD, but not sure I will hold it even beyond this year.
What do you expect them to do? It's easier just to close eyes since it's hard to proof. Old trick by the rich and powerful to pull off a quick one like this all the time and they don't really care who suffer as long as they are not the ones. You die is better than I die....their motto in life. SGX to investigate? Lol 😂 even my toes are laughing 😂
FATABA ( Date: 14-Jul-2017 17:48) Posted:
Agreed,,,,, saw a filing Elliot just announce they increased in their shares ....all bot on 12th Jul ) so perfect timing
Will SGX do anything or investigate ? No ....they prefer to sleep
beltrance ( Date: 14-Jul-2017 17:43) Posted:
yeah i was wondering too when i saw how price dived and then suddenly trade halt. must be insiders knowing that a deal was in the make and selling some at lower price hoping retail investors would panic and also sell bringing the price down even more. dump the price and then buy again at 2.70. imagine how much profit they made in a few hours and retail investors who panicked are now probably sick of misery. very dubious practices !
wondering if SGX will investigate this.. |
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Why all selling? I still holding my 300 lots.
lynmin0197 ( Date: 14-Jul-2017 16:46) Posted:
I also sold all at 3.30, waited a long time.
Thanks GIC and the Chinese, bye bye GLP.
Agreed that $$$ in the pocket is safer and can go invest in others :)
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