TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS Description
EASTERN & ORIENTAL BERHAD ("E&O") PROPOSED ACQUISITION BY HAMMERSMITH PROPERTIES LIMITED, A WHOLLY-OWNED SUBSIDIARY OF EASTERN & ORIENTAL PROPERTY (UK) LTD, WHICH IN TURN IS A WHOLLY-OWNED SUBSIDIARY OF E&O OF TWO OFFICE BUILDINGS KNOWN AS LANDMARK HOUSE AT HAMMERSMITH BRIDGE ROAD, LONDON W6 9EJ AND THAMES TOWER AT BLACKS ROAD, LONDON W6 9EL, UNITED KINGDOM We refer to the announcement dated 19 January 2015. Unless otherwise stated, words and phrases used in this announcement shall have the same meanings as defined in the said announcement.
The Board of Directors of E&O wishes to announce that the Proposed Acquisition has been completed on 13 March 2015.
Look at the way E&O handle STP2 process and compare this with Forest City. E&O is going thru the proper process channel of DEIA and now tender and award
E&O said the shareholders' agreement was executed simultaneously with the execution of a sale and purchase agreement, dated March 20, 2015, between Samudra and MFA for the disposal by Samudra to MFA of a 49% stake in Patsawan, or 68,600 ordinary shares of RM1 each, for RM82.37 million. Of that, RM53.92 million was consideration for the sale of the equity stake while RM28.46 million was for a loan to be advanced by MFA to Patsawan to repay an existing loan that was granted by Samudra to Patsawan. E&O expects to realise an estimated one-off gain of approximately RM48.8 million from the proposed stake disposal. "The proposed disposal is expected to contribute additional earning of approximately RM0.04 per share to the E&O Group for the financial year ending 31 March 2015. In addition, the proposed development on the land is also expected to contribute positively to the future earnings of the E&O Group," it said.
Lambito, as requested, the counter chart show a uptrend channel up to 19 Jan this year but went into ambiguity there after. Believe financial results has something to do with it also but happen at end of Feb. From step by step perspective and the key new in the summary, i gather together with the almost overbought position currently with volume that panic selling is happening. Also i see the price drag below for too long as another possibility.
Lambito, my view and opinion as follow, E&O is on an investment and growth path, this would mean many corporate exercises, S&P, JV and even expansion abroad. The rest you can read as I found much info. In my opinion and experience in a situation like this may hv turbulence in price as many expectation but if they can come together showing surplus which I believe will happen in coming results and as what you hv stated, may project something good. Leaving aside the organization strategy and future, I did a snapshot of yesterday and today while looking at the past performance in the share price against volume, my conclusion is the counter price has drag too long against the market anticipation. Technically the panic selling has subsided and turning around but unlike HapSeng and Hevea they will need to show inclination of price and volume towards the neutral region of buy rate. This will go anywhere near 50+ with step up in the 2 indicators. Good luck
Additional information, E&O maybe bullish with inclination at neutral buy rate and high volume. If it goes into overbought territory with the current increment in volume, I believe it will be run up to higher of 2.09-2.16 but if just volume increment with neutral buy rate maybe slow
Sifu Rockford come here today got heartbeat. Somemore Bursa announcement land disposal completed liao, for March closing. Bottom line sure sui sui liao
You will need another 1-2 days to be sure. In my opinion, it is a turnaround fr overbought few days ago to neutral and then down sell region. Most importantly in those position price incline with volume. I hope to see Monday low buy rate, high volume and price incline working up the buy rate chain fr there
Towards end of trading session today, a slight drop....perhaps due some 'contra' players selling off so as to avoid forced selling tomorrow. Of the view, trading will be ranging btwn 2.01 to 2.05 for whole of this week. Fundamentals still exceptionally good at E&O.
Was busy looking at Hevea to update E&O. Lambito, hope you did well in Hevea also On E&O side , today's volume is reasonable but it tells me base on the low buy rate (oversold ) that it is bottoming but not ready to move yet. As I told you 1-2 days to be sure I will update again tomorrow
Lambito, as mentioned on Monday that it is bottoming, today the rise is accompanied by volume but overheating at this point. If it can reduce the overheating and increase the buy rate again from bottom would be good.
Rockford my remisier says that the land exchange sales of RM48M will be recognise for March closing. I think thats the reason and some parts of the unbilled of RM901Million will break in for the May financial reporting. Ask me to hold tight. Thanks for your help. If not too much can help on Mudajaya also.
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....
Conmantham
2 posts
Posted by Conmantham > 2015-03-16 07:34 | Report Abuse
What happened?