Olh is a typical Old generation ChinaMan (extremely stingy) Will not slaughter Chicken and offer Chicken head to say he will Repent---- Believe everything to be passed to Elder Son after his passing so OskH will be his elder son and----pjd the lesser son
@FnR : I also read the news on Goodwood Park today. True, the major shareholder offers $42.81 as compared to the initial offer at $11.88. On top of that, the major shareholders together with the minorities were given dividends many times.
It is a rare occasion that the Q to buy Oskh hit 1M@ 1.53.....maybe some pjd players are stepping on both ships--some may follow Ironshirt (5 trading days left on First Extension----I think got another extension or so----olh very cunning )
There is for sure another extension as allowed by the Takeover Act.
I am not so worried about being a minority shareholder of PJDev after it is delisted. OLH may be a tough negotiator. However, as you can see, everything he do is following the Company Act and business laws. Even though it is unlisted, every related party transaction in future will be revalued by professional valuer. Nothing much to worry about.
He has offered a low price for PJDev but this is permissible by the laws. It is up to the minority shareholders to decide whether they want to accept the offer or not. If they think that the offer is unreasonable, they can reject the offer.
I see so many comments here but none making a real, concerted effort to protect their own interests'
Get in contact, an email, or set up a website, get REAL and PROPER legal corporate advice wrt takeovers/de-listing/, rights of minority shareholders etc.
Get the info out, factually, you never know there might be clueless shareholders who are still holding their mother shares/warrants. They will thank you.
Dont shoot in the dark. Dont second guess. Be proactive.
OLH n OSK are following the Company Act, business laws n SC acts properly. He can make any offer he likes n that is his right. We as the minority shareholders have our own rights whether to accept the offer or not. As I thk that the offer price is unfair and unreasonable, we execute my right to reject the offer.
I calculated based on the fact that OSK needs to acquire 90% of the shares outstanding and not already owned by OSK n PAC as at the announcement date (30/8/16). When I did the calculation, the figures from IAC was not out yet. Now, since IAC has already stated the actual percentages, that percentages are final and it is even harder for OSK to achieve that thresholds.
The daily volume is low. The announcement by OSK shows that the quantity purchased from the open market and the offer acceptance are low after 11/10/16. Those who have decided to accept the offer might have already done so before 11/10/16. The remainings are those who have decided to stay on and continue to become minority shareholders unless a fair and reasonable new offer is announced.
Eventhough extended by 4 weeks, it is not easy for OSKH to achieve 99.12% and 97.85%. The remaining shareholders are seasoned investors who will not sell at unfair and unreasonable price.
Note : WCT - a direct business transaction by Desmond Lim on 1/11/16. The Net Book Value per share is based on the latest quarterly results as at 30/6/16.
Just look at it yourself, PJ Dev is the only one where the offer price is below the Net Asset / share. If PJDev offered price is to match WCT,OSKH should offer RM2.74 for each PJDev share. The Warrant should be offered at RM1.74 per share.
The Revalued Net Asset Value (RNAV) of PJDev is RM4.60. Pls don't accept at RM1.50. OSKH is trying to blackmail the minorities by delisting the counter. Many who are worried about the delisting have already sold off their holdings. The remainings are those who know the actual value of the counter and just simply unable to accept the diliculous price.
The offer price of RM1.50 is UNFAIR and UNREASONABLE.
PJDev is the biggest beneficiary of this project. OSKH is also benefited but in a diluted form. I thk the remaining shareholders will be the biggest winners of the whole project.
Like what we had anticipated, everything owned by PJDev will still remained with PJDev. 49% of Yarra Park City sold n 51% is still owned by PJDev. The proceeds from the sales will go to PJDev.
Hi guys, I'm new I would like to ask if I'm still holding this stock, what can I do? I can't find any information from KLSE screencer, but I still received dividend on last week (7 June)
I am still holding the warrant PJDEV-WC. Called OSK, the recommendation given is not to convert to mother share as there is no buyer and also, the offer price for mother share may drop lower than RM1 hence will loss more money!
@mmlim... I used to have PJDEV-WC as well. But I managed to convert to PJDEV mother shares with the exercise price of RM1.00. That mean if you have 10k PJDEV-WC shares, you need to fork out 10k to convert the warrants to mother shares (PJDEV). Now I get a decent dividend payout from them.... it's around 0.20cent per share yearly. In my opinion, it's worth holding the PJDEV shares.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
JJchan
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Posted by JJchan > 2016-10-17 11:23 | Report Abuse
Olh is a typical Old generation ChinaMan (extremely stingy) Will not slaughter Chicken and offer Chicken
head to say he will Repent---- Believe everything to be passed to Elder Son after his passing so OskH
will be his elder son and----pjd the lesser son