Posted by sitia > 2017-11-24 12:41 | Report Abuse

simon2020, ok, thanks once again.

Now, the ball is still in HSS hand. Need to see if he is able to tap the Q2. Emergency Funds...wait until 2 days before 7 December before deciding...
The date extension to 7 December didn't change anything...


Let HSS's side "showhand" on the 4 or 5 November first and then decide...


* Note: HSS will only pay those who has transferred their shares to HSS, 10 days after the Privatisation offer turns unconditional. I think HSS's offer will only turns unconditional after they achieved at least 75%. For those "Fence Sitters" it pays to wait until the last day on 7 December, before deciding, as there is no advantage to transfer their shares early, only to be trapped without the ability trade their shares on Bursa (no liquidity) in case there is a price increase in the open market from a competing offer or from new developments.


To be frank, I have signed the paper to sell my shares. I also believed, the 90% of shares will not materialized.

What should I do now?

Posted by kevin5059 > 2017-11-24 13:59 | Report Abuse

sitia, nothing you can do other than WAIT. You hand over the "ball" to HSS in person and he can choose when to serve the ball he wanted.

Posted by simon2020 > 2017-11-24 22:16 | Report Abuse

Actually for those who have changed their minds and wanted their shares back from HSS before he accepts your offer (turns unconditional) before 7 Dec., can do so in person from Tricor Investor & Issuing House Services Sdn. Bhd. at Vertical Business Suite, Avenue 3, Bangsar South, No. 8 Jalan Kerinchi, KL...

Quote" (c). withdraw his acceptance within 8 days of notification by the Joint Offerors of a revision of accepting condition"

Since the notice of revision of accepting condition from 90% reduced to 75% announced on 23 November, you have 8 days until 30 November to withdraw your acceptance (get back your shares) in person from Tricor Investor & Issuing House Services Sdn. Bhd. KL
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5612045
Refer Hovid Conditional Voluntary Take-over Offer Document Para 3 (Rights of Withdrawal by an Accepting Holder) Page 20 dated 30 Oct. 2017

Posted by sitia > 2017-11-25 07:17 | Report Abuse

Morning simon2020, after your thorough explanation unconditionally, I think it is better to withdraw the acceptance.

Posted by sitia > 2017-11-25 07:46 | Report Abuse

My Trader told me my shares been transferred to Hovid and cannot withdrawn. Is there such thing?

Posted by sitia > 2017-11-25 09:04 | Report Abuse

22 Nov 2017


Note that the acceptances pursuant to the Offer is subject to the condition that the Joint Offerors receive, on or before the Closing Date, acceptances by the Holders of the Offer Shares, which will result in the Joint Offerors holding in aggregate (together with such Shares that are already acquired,

held or entitled to be acquired or held by the Joint Offerors)

more than 75% of the total Shares.



Direct (units) 177,131,106

Direct (%) 21.58%


Date of notice 23 Nov 2017

Date notice received by Listed Issuer 24 Nov 2017

Posted by Daily8 > 2017-11-25 17:58 | Report Abuse

Sitia u need to deal with Tricor. Call on Monday.
Your tupid Trader can change lol

Posted by PeterNg > 2017-11-25 21:16 | Report Abuse

Good Explanation, Simon 2020.

Posted by PeterNg > 2017-11-25 21:18 | Report Abuse

If no good Prospective, why privatize the company.

Posted by simon2020 > 2017-11-27 09:59 | Report Abuse

Is Hovid’s takeover valuation too low?

Hovid Bhd, a pharmaceutical manufacturer that is the target of a takeover effort, has had fund managers and some shareholders miffed about its valuation.

According to them, the offer price of 38 sen per share and 20 sen per warrant, though considered fair and reasonable, has not taken into consideration the future earnings potential of the company.

As a result, one fund manager says the offer price has severely undermined the future earnings potential of Hovid.

Some shareholders are also claiming they have yet to receive any dividends as they have agreed to plough back its earnings to grow the company. Hence, the takeover attempt has had many of them feeling unhappy.

(according to latest 2017 Annual report, Hovid still has retained earnings of RM70, 395,000, Reserves of RM39,748,000 and Cash & Deposit of RM15,864,000). If all the retained earning & reserves are capitalised as Bonus shares, based on 820.889,000 shares issued, each ordinary share is entitled to RM0.1341 of the Retained Earnings and Reserves!
http://www.focusmalaysia.my/Mainstream/is-hovid-s-takeover-valuation-too-low

Posted by PenguinDad > 2017-11-27 11:15 | Report Abuse

Use for share buy back lah!

Posted by Syndicates > 2017-11-27 11:20 | Report Abuse

becoming unconditional already?

Posted by PenguinDad > 2017-11-27 11:50 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5612045

Posted by sitia > 2017-11-27 15:50 | Report Abuse

I have witdrawn the acceptance.

Posted by multi530 > 2017-11-27 16:03 | Report Abuse

sitia, what make u change ur mind

Posted by sitia > 2017-11-27 16:48 | Report Abuse

multi530, I give my thanks to simon2020 and all who use their hearts to share here.

It's a new case scenario for me on Hovid.

At first, I was thinking that, we minorities have no chance of winning it as big shareholders usually determine the decision. The small chiku like myself, what can I do? Where is my power to "negotiate" the price?
I felt , I might just as well had my shares transferred at 38 cts and go for other counters.

But then, as I read thru simon2020 comments, he gave the state of the revenues of Hovid. I have posted those questions above, and finally, decided no point of selling.

David Ho offer is low. I feel both joint offeror need to give me sincerity.

Posted by sitia > 2017-11-27 16:49 | Report Abuse

multi530, u can scroll up above. Thank you.

Posted by kevin5059 > 2017-11-27 16:55 | Report Abuse

well done sitia. Together we can push HSS for higher buying price or share with us the wealth of HOVID after full manufacturing expansion in 2018.

Posted by kevin5059 > 2017-11-27 16:57 | Report Abuse

If later day when the offerer announce that they only manage to secure 74.99% (<75%), then it must you due to your withdrawal sitia. haha.

Posted by sitia > 2017-11-27 17:04 | Report Abuse

kevin5059, I am small chiku....lol

Posted by multi530 > 2017-11-27 18:13 | Report Abuse

Sitia, HSS will blame u if 74.99%. ha ha

Posted by PenguinDad > 2017-11-27 18:30 | Report Abuse

Every day need 10mil share to reach 75%.

Posted by multi530 > 2017-11-27 18:44 | Report Abuse

today majority traded at 0.370 and abt 2m shares at 0.375

Posted by multi530 > 2017-11-27 18:46 | Report Abuse

0.37, Fajar Astoria behind the sceen?

Posted by Learntoearn > 2017-11-27 22:47 | Report Abuse

I just reject the offer today again as I hold 650,000units. The offer price is much more lower than what I expected...

Posted by Larrytrader > 2017-11-27 23:01 | Report Abuse

Wow

Posted by multi530 > 2017-11-28 08:49 | Report Abuse

good

Posted by simon2020 > 2017-11-28 11:07 | Report Abuse

'All for one and one for all, united we stand divided we fall.'

Posted by Learntoearn > 2017-11-28 13:09 | Report Abuse

Stay together n say "no"! of this kind of offer price!

Posted by sitia > 2017-11-28 16:00 | Report Abuse

received another letter from Hovid. Dated 23 Nov 2017.

Posted by PenguinDad > 2017-11-28 16:27 | Report Abuse

Sita, same as the link,
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5612045
saying the amount of share that the offerers as acquired.

Posted by Daily8 > 2017-11-28 20:52 | Report Abuse

I feel David Ho desperation.......

Posted by Huatlar > 2017-11-28 21:32 | Report Abuse

if Fajar Astoria can invest so much money in Hovid I'm sure this counter got bright future.

Posted by Learntoearn > 2017-11-29 07:53 | Report Abuse

You are right huatlar, so we should fight for our right for not accept the offer from them!

Posted by hoplanner > 2017-11-29 10:58 | Report Abuse

I remember the case of HUNZA BHD in the SCR exercise. Offered price to shareholders was way below the NAV. We said the same thing to fight for minority rights BUT sad to say, at the end of it the offerrors dictated the exercise.

Posted by smartly > 2017-11-29 11:11 | Report Abuse

if offerers don't get enough shares, they will sapu from the open market.
price will surge before the closing date

Posted by Czarll > 2017-11-29 11:41 | Report Abuse

hunza bhd 收购案第一次开价每股RM2.50. 当时RM 2.50是10年股价走势最高点。小股东拒绝。不久后有一则通告，Hunza 面对索赔诉讼。最后hunza大股东投降，将收购价提高至RM 2.90。hunza 的收购案是相对容易通过，因为hunza有檳州一片有价值的地皮，而不像hovid的是成长价值。

Posted by Czarll > 2017-11-29 11:47 | Report Abuse

最后RM2.90变成了hunza股价历史新高。。。。

Posted by sitia > 2017-11-29 12:01 | Report Abuse

How long it takes for them to transfer back the shares after I withdraw?

Posted by smartly > 2017-11-29 12:21 | Report Abuse

within 2 weeks time.

Posted by Asria > 2017-11-29 12:46 | Report Abuse

just keep the share and wait

Posted by sitia > 2017-11-29 12:49 | Report Abuse

I have submitted the withdrawal in the respective time frame. Hope no issue there.

Posted by kevin5059 > 2017-11-29 16:48 | Report Abuse

Fajar Astoria keep buying from the open market, who is the idiots who keep selling them??

Posted by sniper123 > 2017-11-29 17:00 | Report Abuse

hi simon n all hovid sifus, im still puzzled about tis privatisation. Ill like to enquire the foll:
1. Can I still sell my hovid shares after dec 7?
2. wat happens if the sp suddenly drop after dec 7 (assuming david ho acquire 75% by dec 7)??
tq

Posted by occa888 > 2017-11-29 22:06 | Report Abuse

I like where this is going

Posted by simon2020 > 2017-11-30 00:17 | Report Abuse

To answer your questions read page 7, Rights of Dissenting Holders (those who did not accept HSS offer on 7 Dec) and page 19 Para 2.4 Closing of Offer.

4.3 Rights of Dissenting Holders
(i) Notwithstanding the above and in the event the Joint Offerors decide to revise the
level of the Acceptance Condition to a lower level, if the Joint Offerors receive
acceptances from the Holders resulting in the Joint Offerors and persons acting in concert with them holding not less than nine-tenths in the value of the Shares
(including Shares already held at the date of the Offer by the Joint Offerors and
persons acting in concert with them) or Warrants (including Warrants already held at
the date of the Offer by the Joint Offerors and persons acting in concert with them) on
or before the Closing Date, a Dissenting Holder may exercise his rights, under
Section 223(1) of the CMSA, by serving a notice to require the Joint Offerors to
acquire his Offer Shares or Offer Warrants on the same terms as set out in this Offer
Document or such terms as may be agreed by the Joint Offerors and the Dissenting
Holder concerned.
(ii) If a Dissenting Holder exercises his rights under the provisions of Section 223(1) of
the CMSA, the Joint Offerors will acquire such Offer Shares or Offer Warrants in
accordance with the provisions of the CMSA, subject to Section 224 of the CMSA. In
accordance with Section 224(3) of the CMSA, when a Dissenting Holder exercises
his rights under Section 223(1) of the CMSA, the court may, on an application made
by such Dissenting Holder or by the Joint Offerors, order that the terms on which the
Joint Offerors shall acquire such Offer Shares or Offer Warrants shall be as the court
thinks fit.
(iii) Section 223(2) of the CMSA requires the Joint Offerors to give the Dissenting Holders
a notice in the manner prescribed under the rules of the rights exercisable by the
Dissenting Holders under Section 223(1) of the CMSA (“Notice to Dissenting
Holders”), within 1 month of the time the Joint Offerors have received valid
acceptances from the Holders resulting in the Joint Offerors and persons acting in
concert with them holding not less than nine-tenths in the value of the Shares
(including the Shares already held at the date of the Offer by the Joint Offerors and
persons acting in concert with them) or Warrants (including Warrants already held at
the date of the Offer by the Joint Offerors and persons acting in concert with them).
(iv) A Notice to Dissenting Holders under Section 223(2) of the CMSA may specify the
period for the exercise of the rights of the Dissenting Holders and in any event, such
period shall not be less than 3 months after the Closing Date.

Posted by simon2020 > 2017-11-30 00:21 | Report Abuse

and page 19 Closing of Offer
closing date of the Offer. Notice of such extension will be posted to you accordingly.

2.4 Closing of the Offer
(a) Where the Offer has become or is declared unconditional (i.e. if HSS managed to obtain more 75% shares on 7 December) as to acceptances on a day falling on or before the 46th day from the Posting Date, the Offer will remain open for
acceptances for at least 14 days from the date on which the Offer becomes and is declared unconditional which, in any event, shall not be later than the 60th day from the Posting Date.

(b) Where the Offer has become or is declared unconditional as to acceptances on a day falling on any day after the 46th day from the Posting Date, the Offer will remain open
for acceptances for at least 14 days from the date on which the Offer becomes and is declared unconditional which, in any event, shall not be later than the 74th day from
the Posting Date.

Without prejudice to Sections 2.4(a) and 2.4(b) and subject to Section 2 above, the Joint Offerors shall give no less than 14 days’ notice in writing to the Holders before closing the
Offer.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5585609

Posted by simon2020 > 2017-11-30 00:27 | Report Abuse

2. wat happens if the sp suddenly drop after dec 7 (assuming david ho acquire 75% by dec 7)??
tq

If you refer to 4.3 Rights of Dissenting Holders & 2.4 Closing of the Offer this question doesn't arise as you can still sell the the shares to HSS at HSS's offer price at that time. Quote " the Offer will remain open for acceptances for at least 14 days from the date on which the Offer becomes and is declared unconditional (e.g. 7 Dec) which, in any event, shall not be later than the 60th day from the Posting Date.)

*note: Those shareholders who has not transferred their shares to HSS can continue to trade on Bursa. Since HSS has paid for the shares at 38 sens each, it is in their interest to protect their capital investment by keeping the share price at a min. of 38 sens or more.

Posted by StocksWatcher > 2017-11-30 00:27 | Report Abuse

posted by kevin5059 > Nov 29, 2017 04:48 PM | Report Abuse

Fajar Astoria keep buying from the open market, who is the idiots who keep selling them??

Left hand right hand transfer gua. Just to create impression that someone is selling. If Fajar is really keen to sapu from market, price will eventually moves up, then what? Fajar need to sell to press it down below 0.38?

Ini macam how to get 75%??? Sendiri play with sendiri

Posted by Czarll > 2017-11-30 00:53 | Report Abuse

offeror can't buy higher than 0.38 from market . offer price will follow which highest price they bought .