We refer to the announcements dated 16 December 2016, 2 June 2017 and 18 July 2017 in relation to the Proposals. Unless otherwise defined, capitalised terms used in this announcement have the same meanings as defined in the aforesaid announcements.
On behalf of the Board of Directors of TRIplc, HLIB wishes to announce that the Company has been notified by PNHB that it has received the approval of the Securities Commission Malaysia for the proposed acquisition by PNHB of the entire issued share capital in TRIplc from PEB, being one of the conditions precedent to be fulfilled by PNHB pursuant to the conditional share sale agreement dated 16 December 2016.
Please refer to the attached file for a copy of the announcement released by PNHB dated 13 September 2017.
PUNCAK NIAGA HOLDINGS BERHAD (“PUNCAK NIAGA” OR “COMPANY”) PROPOSED ACQUISITION BY PUNCAK NIAGA OF THE ENTIRE ISSUED SHARE CAPITAL IN TRIplc BERHAD FROM PIMPINAN EHSAN BERHAD FOR A CASH CONSIDERATION OF RM210 MILLION (“PROPOSED ACQUISITION”)
We refer to the previous announcements dated 16 December 2016, 28 April 2017 and 2 June 2017 in relation to the Proposed Acquisition. For consistency, the abbreviations used throughout this announcement shall have the same meanings as defined in the announcement dated 16 December 2016. On behalf of the Board, HLIB wishes to announce that the SC had, via its letter dated 12 September 2017, approved the Company’s application seeking the approval of the SC for the Proposed Acquisition under Section 214(1) of the Capital Markets and Services Act 2007 and under the equity requirements for public listed companies, subject to the terms and conditions as set out below: (I) Terms (i) The proposed members’ scheme of arrangement between TRIplc and its shareholders which give effect to the proposed share exchange of the total number of issued shares in TRIplc with new Pimpinan Ehsan Shares on the basis of one (1) new Pimpinan Ehsan Share for every one (1) existing TRIplc Share held as at the entitlement date to be determined and announced by TRIplc; and (ii) The Proposed Acquisition by Puncak Niaga of TRIplc’s entire issued share capital, free from encumbrances together with all rights, benefits, title to, interest and entitlements from Pimpinan Ehsan for a cash consideration of RM210.0 million. (II) Conditions (i) TRIplc Group must meet the profit requirements of the SC’s Equity Guidelines of having an audited after-tax profit of at least RM6.0 million for the FYE 31 May 2017, prior to commencement of the Proposed Acquisition; and (ii) HLIB and Puncak Niaga to fully comply with the requirements of the SC’s Equity Guidelines and Bursa Securities’ Main Market Listing Requirements pertaining to the implementation of the Proposed Acquisition. This announcement is dated 13 September 2017.
As prove by market response, Puncak acquire Triplc for RM 210m or cash per share RM 3.04 for every triplc share is GOOD. Both Puncak and triplc share price move upward, its win-win.
Currently, Triplc share is under profit taking due to yesterday strong runnp 40sen, and Puncak catch up and continue move up today.
Today, portfolio restart back to accumulate all and more Triplc at total average cost around RM 1.93. These larger than earlier batch volume will target to sell when the deal is closer, with potential special dividend to be declared by triplc to sweeten the deal.
Remark: Portfolio earlier batch was carry at average cost 1.665, already sold off yesterday at average around RM 1.94 (range 1.83-1.98), lock all handsome profit, free up all capital. then swap to Puncak yesterday at 73-74.5sen, sold at 76.5sen for FAST contra gain and then today early morning, jump in all again at 78sen and sold back all at 79sen for second round FAST contra gain, before re-enter back triplc today at range 1.89-1.96 with additional capital free up from other stock.
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....
rogers123
4,018 posts
Posted by rogers123 > 2017-07-31 14:44 | Report Abuse
One day show? Later back to square one again