Someone is slowly collecting ccb shares -?JCCLor people acting in concert. It needs only another 15 mil shares to reach 75% at which point it can be delisted. All remaining minority shareholders have to sell back to them. It would be stupid to hold shares in unlisted companies
Dont need SCR. Just give VGO. I am sure most will sell back their shares. Once Jardine has 80% CCB can be delisted. The remaining would be obliged to also sell. Because nobody wants to hold share in delisted company
MBL made a strategic mistake by failing to foresee the negative market outlook in late 2019 and hence had to bite the bullet themselves. Greed was definitely at play as blocking the privatization of CCB (in an already soft market) was their myophic view. Were they even going to stick around to conduct a business turnaround if the privatization failed?
Mabel Automobile Cycle and Carriage want to take private last year. The offer was lucrative compare to Felda offer. Yet the Minority Share Holders reject the offer. CCB continue to be listed until today. This year despite Covid 19, Mercedes Benz secured fantastic Sales with more than 176% Growth QoQ and 160% YoY. Here is the latest result for Mabel Automobile Cycle and Carriage.
This is different from the previous exercise last year ie SCR. I think those who want to sell can do so at 2.40. Once enough shares are acquired by the offeror (Jardine),it will be taken private and delisted.No point holding on to delisted company
The price is FINAL, written on the offer. There is no voting like the previous exercise. Its a voluntary general offer.Its take it or leave it. I wont be waiting.Once they buy back a certain percentage (?80%),Jardine can delist the company. All the rest would be forced to sell as no one would want to own shares in unlisted company.
JCCL needs another 15million shares to reach 75%. Once it has 75% CCB can be delisted.Although the offer is unconditional, this is the aim of the exercise.So it is mopping up as much shares as possible.If there are few sellers at 2.40 in the open market it (JCCL) may buy at higher price, though offer price is the same.So it is advisable not to sell in the open market unless it is higher.
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Posted by anticonman > 2020-02-14 04:57 | Report Abuse
Privatisation con job to push CCB? Insiders sold high then said no also can?