China Merchants Holdings Pacific

[gzbkel]

So, it means many optimistic people are holding out for a better offer?
Maybe that explains the people accumulating at 1.025.

(Already accepted)

[Alex018]

I tried to sell at 1.025 but cant. Those who trade at 1.025 are in very small volume.. like 100 share..

Sent from my SM-N920I using Tapatalk

[touzi]

No point to accept pre-unconditional, does that mean its better to dont accept the offer letter? If say I dont accept the offer and the delisting go thru, i will only be issued share certificates?

You are ensured by the Code, a 14-days period to react, upon unconditional of the GO, if it is ever achieved/declared by the Offeror.

Is that code found in the Offer Document? Is that 14 days still valid if there are less than 14 days to the end of the original offer (27-Jun)? What I can find in the Offer Document is the following :
===
Pursuant to Section 215(1) of the Companies Act, in the event that the Offeror acquires not less than 90% of the total Shares (other than those already held by the Offeror, its related corporations or their respective nominees as at the date of the Offer and excluding any Shares held by the Company as treasury shares), the Offeror will be entitled to compulsorily acquire all the Shares of the Shareholders who have not accepted the Offer (the "Dissenting Shareholders") at a price equal to the Offer Price. 

Pursuant to Section 215(3) of the Companies Act, if the Offeror acquires such number of Shares which, together with the Shares held by it, its related corporations and their respective nominees, comprise 90% or more of the total Shares, Dissenting Shareholders will have a right to require the Offeror to acquire their Shares at the Offer Price.  
===

Since there is no mention of validity in the above clauses, shouldn't it be that everything lapse when the offer ended on 27-Jun. I am still evaluating my options, but at the moment I am likely to hold out for a better offer and I am prepared to continue to own the shares when the GO does not materialize and price drop back to pre-offer.

[CityFarmer]

No point to accept pre-unconditional, does that mean its better to dont accept the offer letter? If say I dont accept the offer and the delisting go thru, i will only be issued share certificates?

You are ensured by the Code, a 14-days period to react, upon unconditional of the GO, if it is ever achieved/declared by the Offeror.

Is that code found in the Offer Document? Is that 14 days still valid if there are less than 14 days to the end of the original offer (27-Jun)? What I can find in the Offer Document is the following :
===
Pursuant to Section 215(1) of the Companies Act, in the event that the Offeror acquires not less than 90% of the total Shares (other than those already held by the Offeror, its related corporations or their respective nominees as at the date of the Offer and excluding any Shares held by the Company as treasury shares), the Offeror will be entitled to compulsorily acquire all the Shares of the Shareholders who have not accepted the Offer (the "Dissenting Shareholders") at a price equal to the Offer Price. 

Pursuant to Section 215(3) of the Companies Act, if the Offeror acquires such number of Shares which, together with the Shares held by it, its related corporations and their respective nominees, comprise 90% or more of the total Shares, Dissenting Shareholders will have a right to require the Offeror to acquire their Shares at the Offer Price.  
===

Since there is no mention of validity in the above clauses, shouldn't it be that everything lapse when the offer ended on 27-Jun. I am still evaluating my options, but at the moment I am likely to hold out for a better offer and I am prepared to continue to own the shares when the GO does not materialize and price drop back to pre-offer.

The sections are on compulsory acquisition. The Code refers to Takeovers and Mergers Code of Singapore. Refer to link below for the latest version

http://www.mas.gov.sg/~/media/resource/s...ex%202.pdf

Refer to Rules 22.6 in the document for the "14 days period".

[kevlee]

No point to accept pre-unconditional, does that mean its better to dont accept the offer letter? If say I dont accept the offer and the delisting go thru, i will only be issued share certificates?

You are ensured by the Code, a 14-days period to react, upon unconditional of the GO, if it is ever achieved/declared by the Offeror.

Is that code found in the Offer Document? Is that 14 days still valid if there are less than 14 days to the end of the original offer (27-Jun)? What I can find in the Offer Document is the following :
===
Pursuant to Section 215(1) of the Companies Act, in the event that the Offeror acquires not less than 90% of the total Shares (other than those already held by the Offeror, its related corporations or their respective nominees as at the date of the Offer and excluding any Shares held by the Company as treasury shares), the Offeror will be entitled to compulsorily acquire all the Shares of the Shareholders who have not accepted the Offer (the "Dissenting Shareholders") at a price equal to the Offer Price. 

Pursuant to Section 215(3) of the Companies Act, if the Offeror acquires such number of Shares which, together with the Shares held by it, its related corporations and their respective nominees, comprise 90% or more of the total Shares, Dissenting Shareholders will have a right to require the Offeror to acquire their Shares at the Offer Price.  
===

Since there is no mention of validity in the above clauses, shouldn't it be that everything lapse when the offer ended on 27-Jun. I am still evaluating my options, but at the moment I am likely to hold out for a better offer and I am prepared to continue to own the shares when the GO does not materialize and price drop back to pre-offer.

The sections are on compulsory acquisition. The Code refers to Takeovers and Mergers Code of Singapore. Refer to link below for the latest version

http://www.mas.gov.sg/~/media/resource/s...ex%202.pdf

Refer to Rules 22.6 in the document for the "14 days period".

Pardon my ignorance but how long will it take on average to receive the money should l accept the GO.

Thanks.

[gzbkel]

^^ Once it becomes unconditional, about 7 days.
Question is how long it takes before enough people accept to get to 90%.

My broker give a rough ballpark estimate of about 2-3 months from the time the GO is offered.

[CityFarmer]

Pardon my ignorance but how long will it take on average to receive the money should l accept the GO.

Thanks.

You can read the offer doc, page v of detail. We are at the stage A now. Typically, the doc has answers for FAQs...

http://infopub.sgx.com/FileOpen/Offer%20...eID=407072

(vested)

[marandaz]

^^ Once it becomes unconditional, about 7 days.
Question is how long it takes before enough people accept to get to 90%.

My broker give a rough ballpark estimate of about 2-3 months from the time the GO is offered.

The acceptance rate is 88.82% right now... Very close. I doubt they need to extend the offer at this rate.

[Bibi]

^^ Once it becomes unconditional, about 7 days.
Question is how long it takes before enough people accept to get to 90%.

My broker give a rough ballpark estimate of about 2-3 months from the time the GO is offered.

The acceptance rate is 88.82% right now... Very close. I doubt they need to extend the offer at this rate.

They need another ~21million shares in order to achieve 90%. Looking at the miserable few hundreds to 1k plus lots traded everyday, seems might not become unconditional by date due. Maybe towards end of next week we will be able to tell more accurately   . Date due for my CPF bought shares is 22 June. Funny for CPF bought shares, they mention offer is considered to be accepted by default.

[CityFarmer]

^^ Once it becomes unconditional, about 7 days.
Question is how long it takes before enough people accept to get to 90%.

My broker give a rough ballpark estimate of about 2-3 months from the time the GO is offered.

The acceptance rate is 88.82% right now... Very close. I doubt they need to extend the offer at this rate.

They need another ~21million shares in order to achieve 90%. Looking at the miserable few hundreds to 1k plus lots traded everyday, seems might not become unconditional by date due. Maybe towards end of next week we will be able to tell more accurately   . Date due for my CPF bought shares is 22 June. Funny for CPF bought shares, they mention offer is considered to be accepted by default.

CPF is holding the shares in custodian account. Custodian account is typically taking care of corporate actions, on behalf of its account holder by default.