Superior Multi-Packaging

[Mantis]

... a scheme by the Goh Cheng Liang Familiy (current controlling shareholder of SupPack with a 39.63% stake) selling out the minority shareholders for the cheap to Crown Holdings Inc. ....

If i read correctly in Business Times, Goh's family own 40% of Crown.
Isn't this conflict of interests?

Family reputation seems at stake here.

[sportsinvestment]

I don't think that the reputation should come into it... you really think it will be affected so much?

[psolhawk]

http://info.sgx.com/webcorannc.nsf/Annou...endocument

In this latest announcement, I find it almost hilarious that the offeror has used several graphs to show how the current offer price is at a PREMIUM to past market prices. Why dont they show how much of a DISCOUNT and bargain that the offerer will be getting at this price?

I reckon they are trying to stroke shareholders' inner fear of losing out if they dont accept the offer.

[pianist]

http://info.sgx.com/webcorannc.nsf/Annou...endocument

In this latest announcement, I find it almost hilarious that the offeror has used several graphs to show how the current offer price is at a PREMIUM to past market prices. Why dont they show how much of a DISCOUNT and bargain that the offerer will be getting at this price?

I reckon they are trying to stroke shareholders' inner fear of losing out if they dont accept the offer.

The Offeror will not increase the Offer Price..why they want to say such thing upfront?
we will wait for ifa report ...hopefully it shed some light

[pianist]

suddenly today a few directors exercised their options at about 0.08-0.09 in anticipation of accepting the offer?

[corydorus]

suddenly today a few directors exercised their options at about 0.08-0.09 in anticipation of accepting the offer?

The offeror would have anticipated this and include those Options in their offer package.

[pianist]

r buddies here accepting the green color form?

[corydorus]

With Goh owning just 40% of Crown. Isn't this a huge money losing deal since they are selling out at cheap price ?
Seriously I cannot get the logic. Neither do the move benefit oneself and furthermore destroying shareholder value.

[corydorus]

The company has RNAV of 0.2955 and the offer is just 0.14 ... which shortchange minority shareholders significantly.

LETTER FROM THE IFA TO THE INDEPENDENT DIRECTORS
SGX Link

One section i am of interest is the advice given.

"Accordingly, we advise the Independent Directors to
recommend to Shareholders who are confident of the longer-term prospects of the Group to REJECT
the Offer ..."

At least there is still some independent justice around...

[pianist]

where did u read this from?
i just saw today announcement that circular will be despatched soon. if reject --> tomorrow i may scoop more at $0.14