18 February 2015 New Britain Palm Oil Limited ("NBPOL", the "Group" or the "Company") UPDATE ON CASH TAKEOVER OFFER FROM SIME DARBY PLANTATION
New Britain Palm Oil Limited (LSE: NBPO; POMSoX: NBO), one of the world's largest fully integrated producers of sustainable palm oil, provides the following update regarding the cash offer by Sime Darby Plantation Sdn Bhd ("Sime Darby Plantation") for all the issued and to be issued shares in NBPOL at a price of GBP 7.15 or PGK 28.79 per share (the "Offer").
Offer Declared Unconditional
Sime Darby Plantation today declared the Offer to be free from all of the conditions specified in Section 12.1 of the Offer Document dated 23 October 2014 (as amended). The Offer is now unconditional.
The Offer will remain open until 5.00 p.m. on 23 February 2015 (PNG time) for acceptances received within Papua New Guinea or 1.00 p.m. (UK time) on 23 February 2015 for acceptances received within the United Kingdom. The Offer consideration will be settled by 2 March 2015.
A full copy of the Bursa Malaysia announcement by Sime Darby Berhad (Sime Darby Plantation's ultimate parent company) can be downloaded at www.bursamalaysia.com.
The Company will continue to update its shareholders of any further material developments in connection with the Offer.
Reference is made to the announcements dated 9 October 2014, 23 October 2014, 28 November 2014, 4 December 2014, 6 January 2015, 28 January 2015, 9 February 2015 and 18 February 2015.
On behalf of Sime Darby, Maybank Investment Bank Berhad wishes to announce that the period for shareholders of NBPOL to accept the Offer expired at 5.00 p.m. (PNG time) on 23 February 2015 for acceptances received within PNG or 1.00 p.m. (UK time) on 23 February 2015 for acceptances received within the UK (“Expiry Date”).
As at the Expiry Date, SD Plantation has received valid acceptances of the Offer in respect of 149,794,781 NBPOL Shares, representing approximately 98.8% of the existing issued ordinary share capital of NBPOL.
New Britain Palm Oil Limited ("NBPOL", the "Group" or the "Company") UPDATE ON CASH TAKEOVER OFFER FROM SIME DARBY PLANTATION
New Britain Palm Oil Limited (LSE: NBPO; POMSoX: NBO), one of the world's largest fully integrated producers of sustainable palm oil, provides the following update regarding the cash offer by Sime Darby Plantation Sdn Bhd ("Sime Darby Plantation") for all the issued and to be issued shares in NBPOL at a price of GBP 7.15 or PGK 28.79 per share (the "Offer").
The Company notes today's Bursa Malaysia announcement by Sime Darby Plantation's ultimate parent company, Sime Darby Berhad, with respect to the level of acceptances received in response to the Offer. Following the closing of the Offer, total acceptances representing approximately 98.8% of NBPOL's voting shares have been received by Sime Darby Plantation.
The Offer consideration will be settled by 2 March 2015.
A full copy of the Bursa Malaysia announcement by Sime Darby Berhad can be downloaded at www.bursamalaysia.com.
The Company will continue to update its shareholders of any further material developments in connection with the Offer.
KULIM's share price closed 3.28 on 27-02-2015: Buy or sell?
To buy: If share price is expected to go up. Why go up? 1. Special dividend of RM0.3765 per ordinary share, from the disposal of 73,482,619 ordinary shares in New Britain Palm Oil Limited (“NBPOL”), for a disposal consideration of approximately GBP525.40 million, ex on 10/03/2015 and to be paid on 23/03/2015. 2. And there will be another special dividend of about the same amount as above to be paid next year. 3. Kulim expects to realise a gain on disposal of approximately RM1.56 billion. Expect next quarter financial results will be very good! 4. On 26 February 2015, the company announced that that the Disposal was completed on even date, following the receipt of the Disposal Consideration from Sime Darby Plantation. CASH GBP525.40 million @ RM 5.5 - 5.6 per Pound or about RM 3 billion! 5. (EATECH, 5259) market cap and its forthcoming 1 cents per share dividend. 6. 13,656 hectares land banks in Johor which valued mostly dated back in 1997-98. 7. Johor Corporation and its related parties portions of warrants already converted into mother shares. RM 150 million cash. 8. ...The share price is expected to go up some more on and/or before the ex-date, then adjust for the dividend, then go up some more in end of May to reflect the profit from the sale of NBPOL, then...then...then...
To sell: If share price is expected to go down. Why go down? ...To be continued...
Bugle is right. £525.4 million is about RM2.94 billion based on today's rate of RM5.60 to £1. The gain on disposal (after deducting their capital outlay) is RM1.56 billion. They think just giving 37.6 sen. And Cipta says they initially announced 75 sen dividend. What happened to the rest?
in the disposal proposal to shareholder last year, Kulim promised to distribute RM0.78 from the profit of the sale of NBPOL over 2 years period. RM0.376 is a pretty much if the RM0.78 divided by 8 quarters. There will be an addition RM80mil currency gain if calculate the present BP to RM compare to the calculation the sales prospect to shareholder last year. However, if the management do a currency hedging or some agreement within Kulim-Sime on the payment, no more extra will gain. I wonder whether Kulim have received the cash from Sime Darby or not since no announcement on the actual RM income. The share is expected to drop probably to the range of RM3.10 to RM3.05 these few days, wish market prove me wrong. :)
looyee, yes the payment is announced received otherwise Kulim wont declare diveden so soon, only question is Sime Darby paid in BP or RM or USD into Kulim's British account or Malaysia's or Caymen Island..hihihi have some laugh during the price dropping day. kiki..someone was shorting the share on 2Mar and ESOS is RM3.05...deep thinking..hmmmm...
Hey, what happened to the people who manage the Kumpulan Wang Persaraan portfolio? Almost all the selling for the past 2 weeks or so was from KWAP. Moving funds to support something else? Anyway, it's your rights to sell your share at whatever price you like. Yes, there might be some to think the way those people think, but not all and not all the time.
"You can fool some of the people all of the time, and all of the people some of the time, but you can not fool all of the people all of the time."
yup, I've seen KWSP, KWAP, LTH, PNB (ASB, ASM, AS1M) dumping good and well-managed companies like GTRONIC, PBA, PCHEM, Bursa, etc at very cheap prices for reason unknown to us. So, I'm not surprised by the move of KWAP this time. I'm waiting for next year special dividends.
DUMPING: "A standard technical definition of dumping is the act of charging a lower price for the like goods in a foreign market than one charges for the same good in a domestic market for consumption in the home market of the exporter. This is often referred to as selling at less than "normal value" on the same level of trade in the ordinary course of trade. Under the World Trade Organization (WTO) Agreement, dumping is condemned (but is not prohibited) if it causes or threatens to cause material injury to a domestic industry in the importing country."
Perhaps the idea could also be applied in stock market. Let's see who gain and who lose?
KWAP not solely selling, it sell and buy just like EPF, short and cover position or perhaps sell buy sell buy is the appropriate word. What weird things is KWAP is dumping and Kulim is doing share buy back maintaining the price. Could anyone tell the logic?
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....
scy55309
115 posts
Posted by scy55309 > 2015-02-09 22:59 | Report Abuse
congratez.......................... ^ ^