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Your margin account shares will not be shown in CDP. Only the cash bought ones will reflect in CDP.
There should be 30000 shares in L&T margin portfolio and 34000 in CDP. Total 64000.
There should be 30000 shares in L&T margin portfolio and 34000 in CDP. Total 64000.
hope4eva ( Date: 24-Sep-2024 11:08) Posted:
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Option 2.
Did the major shareholder took option 1 or 2. Little difference to them since they will have total control over further decisions.
It is like an option for minor shareholders to take 30 cents now and lend the New Co 6 cents on good faith that they will get 18 cents back in 5 years. Why call it New Shares in the New Co that has zero characteristic of a share. Will not a Note to be bought back in 5 years at 18 cents has more security and easier to understand?
Did the major shareholder took option 1 or 2. Little difference to them since they will have total control over further decisions.
It is like an option for minor shareholders to take 30 cents now and lend the New Co 6 cents on good faith that they will get 18 cents back in 5 years. Why call it New Shares in the New Co that has zero characteristic of a share. Will not a Note to be bought back in 5 years at 18 cents has more security and easier to understand?
Can check if I choose option 1, but later the offer revised upwards, will I get the old or revised rate?
Thanks gor the reply! Idk if lim&tan is a margin account. But if they are, then why will some shares appear in cdp and some not. Cos if select option 2, they will base it on the number
Of shares I have according to cdp account. Then what about my other shares.
Very weird. I emailed lim&tan to ask.. waiting.
Entropy72 ( Date: 23-Sep-2024 21:13) Posted:
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Yes, if one did not indicate option 1 or option 2, then default is not accepting.
This means one ends up holding illiquid shares in delisted company since it is not hard to reach 90% acceptance. No assurance of dividend or new exit offers in the delisted company.
This means one ends up holding illiquid shares in delisted company since it is not hard to reach 90% acceptance. No assurance of dividend or new exit offers in the delisted company.
cmengchan ( Date: 23-Sep-2024 21:47) Posted:
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Doesn' t matter about fairness for the pre-2019 shareholders. The company Silverlake is reporting in MYR, which has depreciated at lot against SGD since then. So in fairness, the whole company is worth less in SGD value compared to pre-2019 due to currency.
On another note...
Based on what I read and understood, to hit the 90% compulsory acquisition, only need another 15.9% of total shares (90% - 74.1%) threshold to succeed. In other words, the remaining shareholders of 29.9% (100% - 74.1%), only need 61.4% of the remaining shares (15.9 div 29.9) to accept the offer, then it will be acquired, per SGX listing rules. I think the chances acquisition success is quite good.
3.4 Concert Group. As at the Latest Practicable Date, the Offeror concert group (" Concert Group" ) comprises the following individuals and entities:
(a) the Offeror and the Directors
(b) ZFPL and the ZFPL Directors
(c) Merit Sigma and the Merit Sigma Directors
(d) Ikhlas Capital Master Fund and
(e) Ikhlas Capital and the Ikhlas Capital Directors,
and the Concert Group currently holds an aggregate of 1,863,440,968 Shares, representing approximately 74.10% of the total number of issued Shares (excluding treasury shares)
10.1 Compulsory Acquisition. Pursuant to Section 215(1) of the Companies Act, if the Offeror receives valid acceptances pursuant to the Offer and/or acquires such number of Offer Shares at the close of the Offer in respect of not less than 90% of the total number of issued Shares (excluding treasury Shares and other than those already held as at the date of the Offer by the Offeror and its related corporations (or their respective nominees) or any person or body corporate falling within the meaning of Section 215(9A) of the Companies Act), the Offeror will be entitled to exercise the right to compulsorily acquire all the Shares of Shareholders who have not accepted the Offer (" Dissenting Shareholders" ) on the same terms as those offered under the Offer.
It is the intention of the Offeror to exercise its right to compulsorily acquire all the Offer Shares not acquired under the Offer at the Offer Consideration for each Offer Share, should such right be available to it.
On another note...
Based on what I read and understood, to hit the 90% compulsory acquisition, only need another 15.9% of total shares (90% - 74.1%) threshold to succeed. In other words, the remaining shareholders of 29.9% (100% - 74.1%), only need 61.4% of the remaining shares (15.9 div 29.9) to accept the offer, then it will be acquired, per SGX listing rules. I think the chances acquisition success is quite good.
3.4 Concert Group. As at the Latest Practicable Date, the Offeror concert group (" Concert Group" ) comprises the following individuals and entities:
(a) the Offeror and the Directors
(b) ZFPL and the ZFPL Directors
(c) Merit Sigma and the Merit Sigma Directors
(d) Ikhlas Capital Master Fund and
(e) Ikhlas Capital and the Ikhlas Capital Directors,
and the Concert Group currently holds an aggregate of 1,863,440,968 Shares, representing approximately 74.10% of the total number of issued Shares (excluding treasury shares)
10.1 Compulsory Acquisition. Pursuant to Section 215(1) of the Companies Act, if the Offeror receives valid acceptances pursuant to the Offer and/or acquires such number of Offer Shares at the close of the Offer in respect of not less than 90% of the total number of issued Shares (excluding treasury Shares and other than those already held as at the date of the Offer by the Offeror and its related corporations (or their respective nominees) or any person or body corporate falling within the meaning of Section 215(9A) of the Companies Act), the Offeror will be entitled to exercise the right to compulsorily acquire all the Shares of Shareholders who have not accepted the Offer (" Dissenting Shareholders" ) on the same terms as those offered under the Offer.
It is the intention of the Offeror to exercise its right to compulsorily acquire all the Offer Shares not acquired under the Offer at the Offer Consideration for each Offer Share, should such right be available to it.
It?s a fair deal to those who bought last 5 years.
To those who bought above 50 cents pre-2019, they will feel very sore about the offer.
To those who bought above 50 cents pre-2019, they will feel very sore about the offer.
cmengchan ( Date: 23-Sep-2024 20:46) Posted:
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You should check SLA transaction history in CDP. Compare against SLA transaction history in L&T and Tigertrade.
Are L&T and Tigertrades margin accounts? If so, the portfolio will not be reflected in CDP.
Are L&T and Tigertrades margin accounts? If so, the portfolio will not be reflected in CDP.
hope4eva ( Date: 23-Sep-2024 13:54) Posted:
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Long story of explanation from IFA, and the conclusion is...
Having considered the aforementioned factors set out in this letter and summarised in this section, we are of the opinion that the financial terms of the Offer are fair and reasonable. Based on our opinion, we advise the Recommending Directors to recommend that Shareholders accept the Offer.
Having considered the aforementioned factors set out in this letter and summarised in this section, we are of the opinion that the financial terms of the Offer are fair and reasonable. Based on our opinion, we advise the Recommending Directors to recommend that Shareholders accept the Offer.
Offer :
Option 1 :& ldquo Cash Consideration& rdquo : S$0.36 in cash for each Offer Share
Option 2 : Cash S$0.30 per share plus 1 new Redeemable Preference Share S$0.18
Details :
3.Circular to Share holders :
https://links.sgx.com/1.0.0/corporate-announcements/5U6U2ZD6PCA4MARE/21af99bbbcdb8ca257446b7e414262911f8aa685b04355d65d9547ee4c478de4
Closing date : 7th Oct ( 2. Circular to Shareholders)
Option 1 :& ldquo Cash Consideration& rdquo : S$0.36 in cash for each Offer Share
Option 2 : Cash S$0.30 per share plus 1 new Redeemable Preference Share S$0.18
Details :
3.Circular to Share holders :
https://links.sgx.com/1.0.0/corporate-announcements/5U6U2ZD6PCA4MARE/21af99bbbcdb8ca257446b7e414262911f8aa685b04355d65d9547ee4c478de4
Closing date : 7th Oct ( 2. Circular to Shareholders)
Hi all, I checked my lim&tan account, u have 64000 shares. My tigertrade account has 10000 shares. Yet when I checked my cdp account, it only reflects 34000 shares. Can anyone advise why? That's more than half my shares gone.
A few more hours left or it will be next Monday. Hoping for the best!
Entropy72 ( Date: 17-Sep-2024 13:15) Posted:
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Waiting for gangster move
aragosta ( Date: 15-Sep-2024 16:56) Posted:
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With delisting, you may still get dividend (no guarantees) and a potential alternate buyover offer (no guarantees it happen within 5 years though - might as well take RPS). But very illiquid ?
hope4eva ( Date: 16-Sep-2024 00:06) Posted:
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IFA must publish its recommendations within 14 days from Offer Document (published 9 Sep). So it has up till 23 Sep to do so.
From the high volume sell down after lunch today, it may be that IFA will recommend shareholders take up the offer (either cash or combi) and there will not be sweetening of offer. This is just speculation on my part - trade on own assessment.
From the high volume sell down after lunch today, it may be that IFA will recommend shareholders take up the offer (either cash or combi) and there will not be sweetening of offer. This is just speculation on my part - trade on own assessment.
If we hold and choose neither option 1 nor 2, once privatised it'll be delisted right?
So it's a compulsory choice we have to make?
halleluyah ( Date: 15-Sep-2024 14:58) Posted:
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Didn?t think of the CPF constraints. You may be right that they can only choose option 1 or to reject.
cmengchan ( Date: 12-Sep-2024 09:38) Posted:
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Oops $$$ gone in the air....i most probably will choose option 2 also...hv faith tat god will preserve our $$$....
hope4eva ( Date: 15-Sep-2024 14:35) Posted:
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Sorry I'm a bit of a noob so pls pardon me if the question sounds dumb.
If I choose option 2 amd wait for the additional 18 cents 5 years later, what if
Silverlake goes bankrupt?
Holding such unlisted security is not in the CPF Investment approved list. Will the holders from CPF, for example, be forced to sell?
If for example, if a privatization involved an share exchange to say some foreign (US, HK, etc) shares, I understand CPF Investment criteria does not include foreign securities or unlisted securities as in Silverlake's case.
If for example, if a privatization involved an share exchange to say some foreign (US, HK, etc) shares, I understand CPF Investment criteria does not include foreign securities or unlisted securities as in Silverlake's case.
Entropy72 ( Date: 12-Sep-2024 07:37) Posted:
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