1st thing they had not reach the point of compulsory acquisition stage loh....!!
2nd point 89.85% acceptance is very close to compulsory delisting stage of 90% they are not in position to delist Yee Lee on their own.
3rd Even they hit above 90% they still did not reach compulsory acquisition, they need to hit 95% ( meaning 90% of the share not own during the GO loh..!!}
Yeelee cannot do another privatization over the next 1 year loh...unless they give a new higher revise general offer price by tomorrow loh..!!
But 89.85% is very close, i think they will eventually in position to delist Yeelee but to compulsory acquire & privatize still unable loh..!!
If yee lee want to offer higher price there will offer long time ago. i doubt the Yee Lee will do it. Now market is so bad. so there will still offer the same price or lower down the road. maybe after 2 years.
how to limit down? Dato Lim and friends sapu almost 30% at RM2.33. Initially they just control 60%, now is 89.85%. Drop every cent will reduce his wealth by %
I think right now....they want to consolidate their position loh...!!
If i were them, i will use nominees and friendly parties to accumulate Yeelee so that in 1 yr time when i can launch another round of privatization & i will have friendly support loh...!!
I suspect they will use the company to buy back in the form of selective capital repayment to privatise instead of General Offer loh...!! The selective capital repayment require 75% of shareholders (exclude interested parties} to support loh....!!
Since they are dealing with only 10% of the rest of the shareholders, they can afford to pay more to privatise loh....!!
So do not be tempted to sell, Yeelee will trade with lack lustre for next 1 year due to poor liquidity of the stock loh..!!
Obviously they have no intention to privatise it, otherwise what is so difficult to buy the small quantity from the market before the closing date. Only they themselves know the game.
Now confirm more than 90% liao. Dato Lim angry because just 0.15% away. So now he taka some shares dump to make all ikan bilis feel regret dont accept his 2.33
Is difficult to move against the major SH most of the time as they are unethical yet powerful, together with sleeping authorities who just leave all to the unfair and imbalance market. Threw it in last minute as there is always an alternative, unless you are patient. MAA and Daiman are good examples.
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....
RainT
8,448 posts
Posted by RainT > 2019-07-03 10:46 | Report Abuse
but why YEELEE delist in KLSE
and plan to relist in other share market?
is it listing at KLSE is bad ?