If Public spread now is just 14.86%!! Means SC/Bursa's free-float requirements of at least 85% has been breached! Don't think there will be further extensions from the authorities?
BERJAYA LAND BERHAD TypeAnnouncementSubjectPUBLIC SHAREHOLDINGS SPREAD DescriptionPUBLIC SHAREHOLDING SPREAD REQUIREMENT PURSUANT TO PARAGRAPH 8.02 OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD
The Board of Directors of Berjaya Land Berhad (“BLand”) wishes to announce that the public shareholding spread of BLand is 14.86% following the acquisition of shares in BLand by Tan Sri Dato’ Seri Vincent Tan Chee Yioun, a substantial shareholder of BLand on 2 August 2019. Bursa Malaysia Securities Berhad had on 20 December 2018 approved a minimum public spread of 15%. BLand will consider appropriate steps to rectify the shortfall in public spread.
This Announcement is dated 2 August 2019.
Announcement Info
Company NameBERJAYA LAND BERHADStock NameBJLANDDate Announced02 Aug 2019CategoryGeneral Announcement for PLCReference NumberGA1-02082019-00112
Next week. Trading halt. Then followed by announcement of MGO. Looking forward. Now can kahhoeng and others lodge a complaint to all parties : SC, Bursa... ,BJLand, .. .? TQ.
At the first place, surely VT knew that if he purchased the 10.0mil today, it will trigger the 15% threshold, so he definitely has a plan on how to rectify it, of course, he will not buy at 15.7 sen then sell it lower, right? At current huge discount to NTA, what else, take advantage out of it, privatized the company with certain premium, even at 50% of 16.0 sen, it is just 24.0 sen, BUT NTA is 85.0 sen! So it is getting more interesting from now on,24.0 sen, 30 sen, 38 sen, or more at 50% discount of NTA! Cheers.
What? it is not VT selling all the while .... some others selling, until so low ..., VT also tak boleh tahan and buy, until breach the bursa listing requirements .......
To me, it doesn't matter if VT is buying or not from the market. However, it is an ISSUE when BJCorp bought from Penta at an exchange premium without a similar extended to minorities. What's more, BJCorp is ONLY buying from Penta just enough to avoid the 15% 'special' spread approved by Bursa while Penta's stake (3.324%), together with what VT's holding (84.684%), is almost 90%(88% to be exact)! To add pain to minorities, brokers have stopped considering BJLand marginable.
Date of notice 05 Mar 2019 Date notice received by Listed Issuer 05 Mar 2019
Remarks :
Direct Interest No. of Shares ------------------- ------------------ (1) PCM Industrial LP 165,734,696 (2) Penta Master Fund Ltd 1 (3) Penta Asia Long/Short Fund Ltd 451,292
VT's Circumstances by reason of which change has occurred Deemed interested by virtue of his interest in Berjaya Corporation Berhad, the ultimate holding company of Juara Sejati Sdn Bhd - Completion date of the acquisition of 230,000,000 ordinary shares pursuant to the share sale agreement dated 30 January 2019. Nature of interest Deemed Interest Direct (units) 69,150,400 Direct (%) 1.386 Indirect/deemed interest (units) 4,156,086,872 Indirect/deemed interest (%) 83.298 Total no of securities after change 4,225,237,272 Date of notice 05 Mar 2019 Date notice received by Listed Issuer 05 Mar 2019
I don't want to pour cold water here but you think he will privatize above 16 cents? Have to be realistic. His calculator anytime more canggih than anyone of us here
Vt bot direct from open market...its stated in annoucement...trying to get sc approval for 10 percent public spread...seems impossible...10% is a sensitive spot like the g u know.
VT, through press conference end of last year, had a chance to make things right. He outlined his plan on how to address issues within the group. Unfortunately, VT not only failed his minorities but his plan made those reading or listening felt that he's still the conman he used to be.
FIRST, his BODs issued statement stating that they're clueless!
We refer to the following articles that were published in today’s the Star Biz newspaper, the Sun Biz newspaper and the Edge Financial Daily entitled:-
1. Vincent Tan makes his move. Tycoon plans to take private 7-Eleven and BLand, list U Mobile and hotel business;
2. Berjaya Corp founder/executive chairman also plan to delist BLand and sell Four Seasons Hotel in Kyoto, among other corporate moves; and
3. Vincent Tan to restructure his business empire. The plan may involve privatising 7-Eleven Malaysia Holdings and Berjaya Land.
The Board of Directors of Berjaya Land Berhad (“BLand”) wishes to clarify that the abovementioned plans including the delisting plan are personal idea and strategies of Tan Sri Dato’ Seri Vincent Tan Chee Yioun who is an indirect major shareholder of BLand via his deemed controlling major shareholdings in Berjaya Corporation Berhad, the holding company of BLand.
The Board of Directors of BLand is totally not aware of and has not deliberated any of the abovementioned plans or proposals including the delisting of BLand.
This Announcement is dated 20 December 2018.
SECOND, after the proposed acquisition of Penta's stake, VT gave false impression on privatizing BJLand while further squeezed his minorities. Further discussion is on an earlier post.
On behalf of the Board of Directors of BCorp, Maybank Investment Bank Berhad wishes to announce that BCorp and its wholly-owned subsidiary, Juara Sejati Sdn Bhd, have today entered into a conditional share sale agreement with Penta Master Fund, Ltd., PCM Industrial L.P. and Penta Asia Long/Short Fund, Ltd. for the Proposed Acquisition.
Please refer to the attachment for full details of the Proposed Acquisition.
In addition, the Board of Directors of BLand wishes to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) has approved BLand’s application for acceptance of a lower Public Spread of 15% in compliance with Paragraph 8.02(1) of the Main Market Listing Requirements of Bursa Securities (“Approved Public Spread”).
Pursuant to the Approved Public Spread, BLand is required to notify Bursa Securities immediately, if in conjunction with the preparation of its semi-annual returns and/or when it becomes aware of the following:- 1.any decrease in issued share capital of BLand; and 2.any decrease in the percentage of Public Spread below 15%.
Based on the above, BLand has complied with the Approved Public Spread.
THIRD, instead of selling Kyoto Four Season first, BJLand is buying hotels in Iceland and Okinawa Four Season after the disposal of 75% Stake in T.P.C Nghi Tam Village Ltd, err... what to say? Giving the impression trying to liquidate more assets but is adding more instead?!?
The Board of Directors of Berjaya Land Berhad wishes to inform that its wholly-owned subsidiary, Berjaya Okinawa Development Co. Ltd., had entered into a hotel management agreement with Four Seasons Hotels and Resorts for the development of the Four Seasons Resort and Private Residences Okinawa on the island of Okinawa.
Please refer to the attached press release for further details.
It's important to pre-emp any hanky-panky from happening and prevent SC/Bursa from giving anymore extensions to BJCorp/BJLand by alerting all biz newspapers like the:
Btw Since BJLand/BJCorp AGM is end of the month, it's a good time for VT to announce any restructuring to BJGroup since BJMedia also needs to present a Regularisation Plan to SC on an urgent basis?
Pls exclude the foreign fund from the round of sell down. They will not act emotional as those retailers, the y have sit tight and pending for the final episode. As mentioned, the fight are in between the Syndicate and a group of retailers. For the retailers still stay, "United" together and hold tight shall be the only way to resist the impact.
Bj Land KLS Macquarie Bank Ltd. (Private Banking) AS OF 18 JUL 2018 246.00m 4.92% PENTA Investment Advisers Ltd. (Hong Kong) AS OF 05 MAR 2019 166.19m 3.32% Dimensional Fund Advisors LP AS OF 31 MAY 2019 21.96m 0.44% Dimensional Fund Advisors Ltd. AS OF 30 NOV 2018 709.73k 0.01%
The Foreign investor holding at Bj Land can be found from Bj Land : KLS, profile
From the above, can confirm that there are total of 435.5 mil, 8.70% bj land were held by foreign. Therefore, the balance of float shares in present marlet is only 328.66 mil, 6.62%. 30/07/2019 8:35 AM
Disposal n acquisition of assets are part of business operation...even bjland privatised n delisted. It will still carry on.its not like after privatised then close shop. So if vt thinks its time to privatised.he will do it whether disposal or aquisition is going on. May b vt thinks retaining kyoto 4 season n iceland hotel can add value to his singapore hotel listing. We will c wats up his sleeves at the agm.
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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....
Bettyem
655 posts
Posted by Bettyem > 2019-08-02 19:01 | Report Abuse
And only 750,000,000 million or 15% free floating BJLand shares left Vs BJCorp with 5,214,000,000 shares worth 26 sens each!