Posted by Huatlar > 2017-12-15 08:33 | Report Abuse

If DH convert all the WB he holding if that enough 67%

Posted by PenguinDad > 2017-12-15 08:41 | Report Abuse

Huatlar, hope that they convert WB and more cash in HOVID. Share the success with those shareholders that support HOVID when they are still in HOT WATER.

Posted by kevin5059 > 2017-12-15 09:04 | Report Abuse

I'm not really sure how the 67% make up. I thought there are only two threshold in Malaysia SC rule?? 90% and 75%. Can someone explain what is means by 67%?? What the differences between 67% to 75%.

Posted by Czarll > 2017-12-15 09:16 | Report Abuse

他们的目的应该说是收票而不是收购。

Posted by multi530 > 2017-12-15 09:20 | Report Abuse

last time QL's condition of acceptance to take over Lay Jong was just more than 50%. so why now HSS's only 67% could it

Posted by Czarll > 2017-12-15 09:20 | Report Abuse

浮动票已经不多了，剩下的多数是价值投资者或者说是持有一段时间的价值投资者，这群的票最难得就算提高到0.45也未必得到，因为2014年接手的基金很多。他们没有必要冒这个险，因为可提高到0.45也得不了多少票

Posted by multi530 > 2017-12-15 09:20 | Report Abuse

may be with 67% plus fully convertion of warranty =75%??

Posted by PenguinDad > 2017-12-15 09:21 | Report Abuse

Czarll, 100% agree with you.

Posted by Czarll > 2017-12-15 09:22 | Report Abuse

已经接受的上了宝贵的一课，票被骗走了

Posted by PenguinDad > 2017-12-15 09:25 | Report Abuse

multi530, calculated before with 100% WB convert still less than the target. hope that they contribute to HOVID by converting the WB. There will be more cash and cash eq. in the financial statement.

Posted by kevin5059 > 2017-12-15 09:25 | Report Abuse

100% warrant conversion will not give them 75%, but will definitely get them 67%.

Posted by Syndicates > 2017-12-15 10:11 | Report Abuse

can achieve 67.81% if he convert all of his warrant, not including those has been accepted under this offer.

Posted by PenguinDad > 2017-12-15 10:25 | Report Abuse

If 100% convert that would means at least RM55mil going into cash and cash eq for exercise price of RM0.18

Posted by hoplanner > 2017-12-15 12:22 | Report Abuse

At bursa LINK you can obtain up-to-date of how much the Offerers have acquired so far.
Can someone help to provide what % now. Bursa link needs registration lah.

Posted by Czarll > 2017-12-15 13:25 | Report Abuse

convert warrant juz for kick for gool. they won't 100% convert by their money,use share buy back also make their percentage up.

Posted by Wuzy > 2017-12-15 13:37 | Report Abuse

Including today, David's investment team still got 10 days to collect till 75%, right?

Posted by Hafid > 2017-12-15 14:50 | Report Abuse

Final Reminder to Remisier's

*KINDLY ACCEPT and PROCEED TO ACCEPT HOVID OFFER*

Have Confirmed with Company Registrar

No more offer in short term / near future

Thank you

Posted by simon2020 > 2017-12-15 16:03 | Report Abuse

For those who have changed their minds and wanted their shares back from HSS in order to continue trading on Bursa for a better price in future, before he accepts your offer (turns unconditional) on 29 Dec., since with only 67%, HSS can't apply for Hovid's delisting, 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 75% reduced to 67% announced on 14 December, you have 8 days until 22 December 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-announcem...
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 multi530 > 2017-12-15 16:14 | Report Abuse

finally but no choice to hold it for long term. ha ha ha

Posted by multi530 > 2017-12-15 16:20 | Report Abuse

foresee this coming AGM, will be a lot of shareholders vote against resolution

Posted by sitia > 2017-12-15 18:16 | Report Abuse

When offers become unconditional, Hovid need to return back the shares right? Unfortunately, the waiting time for the returns is long.

I hope we see the open market will give a better price for Hovid, and JO will be buying to accumulate more.

Posted by PenguinDad > 2017-12-15 18:21 | Report Abuse

I offerors want to keep the shares that they accumulated that why lower the acceptance condition since they can't reach 75%

Posted by sitia > 2017-12-15 18:23 | Report Abuse

For those who want to withdraw the acceptance, this is the address:-

Tricor Investor & Issuing House Services Sdn. Bhd. KL
Mon- Fri (9pm to 6pm)
Phone: 03-27839275
Person in-charged: Ms Rachel Chua / Mr Jake Too

Documents required:
1. Formal letter to withdraw the acceptance offer by JO. Original letter need to send to TRICOR
2. You can email a copy first in advance. (Original still be required)
3. Another additional letter (copy by Tricor) needed to sign and send together with your physical letter.

Posted by PenguinDad > 2017-12-15 18:23 | Report Abuse

rather than return the accumulated shares to the acceptance that sign up earlier becos the HOVID worth more

Posted by PenguinDad > 2017-12-15 18:24 | Report Abuse

unless the next few days still can't reach 67%.

Posted by sitia > 2017-12-15 20:19 | Report Abuse

Penguindad, by 67% achieved by JO, then it will be unconditional.

We all need to surrender our shares right?

Posted by simon2020 > 2017-12-15 22:27 | Report Abuse

If reach 67%, then it will be unconditional and those who have accepted HSS's offer earlier will be paid 38 sens per share within 10 days after 29 Dec.

Since cannot delist, those who have not accepted HSS's offer can continue to trade on Bursa..or after HSS "show hand" on 27 Dec., 2 days before the last closing date...can chose to accept HSS's offer by 29 Dec. or continues to trade on Bursa...

Posted by Hafid > 2017-12-16 09:20 | Report Abuse

now its 62% level of acceptance. if it reaches 67% the company will
start paying those shareholders that have accepted the 38 cts offer.

2. Only if it reaches 90% Then its a mandatory takeover. shareholders will
get the 38cts per share.

3. if acceptance is between 75-90 %, Company can apply for delisting.
Bursa will notify shareholders the last trading day. The risk here is you can
sell it on the market before last trading day provided there are buyers in the market.
PLEASE NOTE if u cannot sell , you might end up holding the shares of a company no longer
listed at the exchange.

Posted by noah > 2017-12-16 09:43 | Report Abuse

Hafid:
3. if acceptance is between 75-90 %, Company can apply for delisting.
Bursa will notify shareholders the last trading day. The risk here is you can
sell it on the market before last trading day provided there are buyers in the market.
PLEASE NOTE if u cannot sell , you might end up holding the shares of a company no longer
listed at the exchange.
----

Please get your facts straight first before posting misleading info over here.

Posted by taitaumau > 2017-12-16 10:25 | Report Abuse

For Sharing purpose only,

Where there is No Compulsory Acquisition (exclude take-over offer or corporate proposal), then

For a company to make request for withdrawal of its listing status,
Bursa Securities may ensure that compliance be made with Listing Requirements Para 16.06, under which a dissenting holder is given an exist offer (the last resort for him to part his share, failing which he will be holding unlisted share)

Listing Requirements can be read from Bursa Website - Regulation

Posted by simon2020 > 2017-12-16 11:17 | Report Abuse

Thanks for confirming that the level of acceptance as of 16/12 is only 62%.

1% of Hovid is approximately 10 millions shares, so in order to obtain 5% to reach 67%, HSS needs 50 million shares. The daily open market purchase by HSS ranges from 0.958 to 3.70 million shares. With 9 market days left to 29 Dec., HSS needs to race to collect at least 5.56 million shares daily to achieve it. The fastest way to obtain the 5% shares outstanding, is to increase the open market purchase price above 38 sens. This is cheaper than making a general share price increase (Offer Price) for 67% (target) - 33.72% (HSS original shares) = 33.28% (public shares)."

The next milestones to lookout for:
1. AGM on Tuesday (19/12), chance to query Hovid Mgt. on the latest developments.
2. HSS "showhand" on 27/12, 2 days before final closing date for Offer on 29/12, in order to decide on next course of action.

Quote "While it is true they may not increase the offer price above 38 sens for those who have accepted their Offer. Those shareholders who have not accepted their Offer can continue to trade on Bursa and obtain better price than 38 sens depending on market demand, as with only 67%, HSS can no longer apply to delist Hovid.

In the short term to 29 December, in order achieve at least 67% in order to keep the shares of those who have accepted HSS's offer earlier, the share price of Hovid may increase higher than 38 sens due to supply and demand situation.

1% of Hovid is approximately 10 millions shares so in order to obtain 5.71%, HSS needs 57.1 million shares. The daily open market purchase by HSS ranges from 958,000 to 3,702,500 shares. With 10 market days to 29 Dec., HSS needs to race to collect at least 5,710,000 shares daily to achieve it. The fastest way to obtain 5.71% is to increase the open market purchase price above 38 sens. This is cheaper than making a general share price increase (Offer Price) for 67% - 33.72% = 33.28% shares."

Posted by Syndicates > 2017-12-16 12:23 | Report Abuse

HSS cannot make purchase higher than 38sen lah, if he do so he must adjust his offer price to the highest price he purchased, this is rule. you can refer back to JOHAN's recent takeover offer. unless he assign proxy to buy. and 57.1million of shares is equal to 571,000 lot of shares. Do you think there's 571k lot of shares on selling queue right now?

Why HSS want to revise condition to 67% not 60% 70%, it's because if he convert warrant he owned prior to this offer (not including warrants that has been accepted under this offer), the percentage would be:

511,538,506 (being the total shares held by him and shares accepted under this offer) + 140,390,220 (number of warrant he holds prior to this offer) = 651,928,729 (number of shares he will have if he convert his warrant)

651,928,729 divided by 961,278,791 (being new total of outstanding shares after warrant conversion of HSS - 820,888,571+140,390,220) = 67.82%

There's no rule stating HSS cannot convert his own warrant for mother share (couldn't find relevant info). And assuming warrants he collected under acceptance are not belong to him, the number of warrants he can convert is 140,390,220.

If he revise condition to 70%, he possess risk of unable to receive acceptance of 2.18% before final date.

Accept the fact that HSS won't revise offer price. Possibility of new offer price from now on is small and need to have SC approval. Why would he pay extra money while he can convert his own warrant to make it deal?

Either accept the offer or keep your shares in fridge.

Posted by simon2020 > 2017-12-16 13:41 | Report Abuse

There are some loose ends here:

1. Originally 820,889,000 Hovid shares = 100%, If HSS converts 140,390,220 warrants to shares based on 1:1 basis after payment of 18 sens premium per warrant to Hovid, the total Hovid shares = 100% would be (820,889,000 + 140,390,220 = 961,279, 220 shares). In order to achieve 67%, HSS needs to collect 961,279, 220 x 0.67 = 644,057,077.4 shares).

Based on the original 820,889,000 Hovid shares, HSS only managed to collect 62% or (820,889,000 x 0.62 = 549,995,630 shares). After HSS converts his warrants, the base for % of Hovid shares has enlarged to 961,279, 220 shares. Meaning HSS needs to collect at least 67% x 961,279, 220 = 644,057,077 shares in order to achieve 67%.

Since HSS atm only has 549,995,630 shares, he need to collect another 644,057,077 - 549,995,630 = 94,061,447 shares to achieve 67% including Warrants conversion to shares. Now HSS would need to collect at least 94.06 millions shares or 10.45 million shares daily (over 9 market days) in order to achieve 67% by 29 December instead of 5 million shares daily before HSS converts his warrants. So if we are HSS, it doesn't makes sense to convert the warrants which entails a cash payment of ( 140,390,220 x 0.18 = RM25,270,240) to Hovid and also enlarge the % shares base?

"1% of Hovid is approximately 10 millions shares, so in order to obtain 5% to reach 67%, HSS needs 50 million shares. The daily open market purchase by HSS ranges from 0.958 to 3.70 million shares. With 9 market days left to 29 Dec., HSS needs to race to collect at least 5.56 million shares daily to achieve it. The fastest way to obtain the 5% shares outstanding, is to increase the open market purchase price above 38 sens. This is cheaper than making a general share price increase (Offer Price) for 67% (target) - 33.72% (HSS original shares) = 33.28% (public shares)."

2. While it is true HSS may not increase the offer price above 38 sens for those who have accepted their Offer. Those shareholders who have not accepted their Offer can continue to trade on Bursa and obtain better price than 38 sens depending on market demand, as with only 67%, HSS can no longer apply to delist Hovid.

In the short term to 29 December, in order achieve at least 67% in order to keep the shares of those who have accepted HSS's offer earlier, the share price of Hovid may increase higher than 38 sens due to supply and demand situation.

Quote" HOVID is 820,889,000 shares and HOVID-WB is 322,231,429 warrants.
55.46% of HOVID is 455,265,039 shares
71.64% of HOVID-WB is 230,846,595 warrants.
Conversion is 1 HOVID-WB for 1 HOVID @ RM0.18

Total of HOVID & HOVID-WB is 1,143,120,429
If HSS convert all HOVID-WB held to HOVID and the % is,
((455,265,039+230,846,595)/(820,889,000+230,846,595))*100
(686,116,634/1,051,735,595)*100
=65.24%"

Posted by Czarll > 2017-12-16 14:28 | Report Abuse

juz remember/remind HSS/FAJAR use money buy buy buy not free ....they have 6x% 6x% 6x% hovid share.
what they want is making money. what they want is making money.what they want is making money.
...very important so say 3 times...
what do you need to do is ,make sure you are no leave be4 they leave.

Posted by PenguinDad > 2017-12-16 18:21 | Report Abuse

Simon2020, the offer price is unlikely to increase but likely that they only want to get the shares cheap.

Posted by Daily8 > 2017-12-16 18:41 | Report Abuse

Now all of you are gambling on the table with HSS. He has the most chips in hand and you side bets are hanging there waiting FOR HIM TO place higher BETS.

WITH ONLY <5% shares to accumulate and without conversion of warrants, HSS sure WIN.

BUT BARE IN MIND TOO! Those who have bought the shares recently at 37 cents above , need to know the numbers. They will only sell at higher than 38 cents betting on open market.

IF HOVID acquired shares by HSS, cannot let them delisted, final day he will throw higher offer. I don't think this will happen too. 2 days before 29 Dec is RISKY !

Posted by Hafid > 2017-12-16 18:53 | Report Abuse

Just keep the share

Posted by Daily8 > 2017-12-16 18:54 | Report Abuse

Crazll, correct they are of all, is to make money. Now they are running out of time.

Do you think they will by higher price than 38 in open market ?

Posted by Czarll > 2017-12-16 20:02 | Report Abuse

daily8 I cant reply in English...I am very poor in english....I understand u all by google translate....

Posted by Daily8 > 2017-12-16 20:38 | Report Abuse

CzarII, 你可以写中文

Posted by sitia > 2017-12-16 20:56 | Report Abuse

>>>DAY 9 market (INCLUDING XMAS AND SAT/SUN)BEFORE 29TH DEC

Daily8,

Frankly speaking, most of us here are unhappy with JO price. 38 cents is too low. We are anticipating a better price on the last few days looking at the amount shares he will garnet from the market.

from simon2020,
assuming
Conversion is 1 HOVID-WB for 1 HOVID @ RM0.18

Total of HOVID & HOVID-WB is 1,143,120,429
If HSS convert all HOVID-WB held to HOVID and the % is,
=65.24%"

67%-62% ( Hafid now its 62% level of acceptance. if it reaches 67% the company will start paying those shareholders that have accepted the 38 cts offer. )

Left another 5%

simon2020,
"1% of Hovid is approximately 10 millions shares, so in order to obtain 5% to reach 67%, HSS needs 50 million shares. The daily open market purchase by HSS ranges from 0.958 to 3.70 million shares.

With 9 market days left to 29 Dec., HSS needs to race to collect at least 5.56 million shares daily to achieve it. The fastest way to obtain the 5% shares outstanding, is to increase the open market purchase price above 38 sens. This is cheaper than making a general share price increase (Offer Price) for 67% (target) - 33.72% (HSS original shares) = 33.28% (public shares)."

SUMMARY: BRAIN STORMING
WILL JO BUY AT HIGHER PRICE???????????

Posted by sitia > 2017-12-16 21:05 | Report Abuse

I doubt HSS will sell at 45 cts. The greater amount he need to folk out is tremendous. But is he willing in order to delist?

He put so much into this inventory and no question he will want the delisting, a SUCCESS. Am I right?

I am not asking much. A mere 42 cents price, I will be happy ord.

Posted by sitia > 2017-12-16 21:07 | Report Abuse

Syndicates

HSS cannot make purchase higher than 38sen lah, if he do so he must adjust his offer price to the highest price he purchased, this is rule. you can refer back to JOHAN's recent takeover offer. unless he assign proxy to buy. and 57.1million of shares is equal to 571,000 lot of shares. Do you think there's 571k lot of shares on selling queue right now?

Why HSS want to revise condition to 67% not 60% 70%, it's because if he convert warrant he owned prior to this offer.

Your comment MAKES SO MUCH SENSE TOO. GIVE ME SHIVER NOW. THINKING....

Posted by stockraider > 2017-12-16 21:34 | Report Abuse

RAIDER JUST GIVE U ALL A SIMPLE ADVICE LOH....!!
JUST WITHDRAWL UR ACCEPTANCE MAH....!!

U WOULD MAKE MUCH MORE MONIES DOING THAT LOH....!!
THE OFFER PARTY IS DESPERATE AND PLAY DIRTY, THEY KNOW THEIR TAKEOVER WILL FAILED, SO THEY LOWER THE HURDLE RATE LOH...!!
THEY DESPERATELY WANT UR STOCK LOH....!!

IT IS VERY OBVIOUS LOH....!!
BCOS HOVID IS REALLY VALUABLE LOH...!!

DO NOT LET THEM PREY ON U MAH...!!
DO NOT LET THEM CHANGE THE RULE LOH..!!

HIT THEM BACK, JUST WITHDRAWL UR ACCEPTANCE LOH...!!
FORCE THEM TO UP THE OFFER PRICE, IF THEY REALLY WANT LOH...!!

Posted by sitia > 2017-12-16 21:41 | Report Abuse

CORRECT!

DON'T SELL! JANGAN JUAL! 不要卖 !

Posted by simon2020 > 2017-12-16 21:43 | Report Abuse

Points to ponder over:

1. There are actually still 820,889,000 (assuming no conversion of more warrants) - 549,995,630 = 270,893,370 or 2,708,933 lots or 2,708k lots of free floating Hovid shares out there. The reason why out of this 2,708k lots of free floating Hovid shares, the required 571k lots (only 21.09% of free floating shares) of shares is not on selling queue, is because the current buying price is not right?

2. It doesn't makes sense for a stingy person to convert the warrants owned, which entails a cash payment of ( 140,390,220 x 0.18 = RM25,270,240) to Hovid and also enlarge the % shares base?

3. While it is true they may not increase the offer price above 38 sens for those who have accepted their Offer. Those shareholders who have not accepted their Offer can continue to trade on Bursa and obtain better price than 38 sens depending on market demand, as with only 67%, HSS can no longer apply to delist Hovid.

In the short term to 29 December, in order achieve at least 67% in order to keep the shares of those who have accepted HSS's offer earlier, the share price of Hovid may increase higher than 38 sens due to supply and demand situation.

* There are many ways to keep tabs on the % of shares HSS has from the base of 62%...
1. Any open market purchases by major shareholder (HSS) needs to be announced to Bursa.
2. AGM 19/12
3. "Showhand" day on 27/12, before making the final decision

Posted by PenguinDad > 2017-12-16 21:44 | Report Abuse

why they need to convert the warrant? becos the expiry date is next year n as you know warrant don't worth anything once close to expiry date.

Posted by PenguinDad > 2017-12-16 21:45 | Report Abuse

they have paid 0.20 will go into the drain n who wouldn't convert the warrant if need to paid for it.

Posted by sitia > 2017-12-16 21:49 | Report Abuse

simon2020,

Question is everyone know offer is finalat 38 cents. Who will want to buy higher UNLESS David Ho and Astoria themselves???

Posted by simon2020 > 2017-12-16 21:53 | Report Abuse

HOVID BERHAD-WB 2013/2018 only expires in June 2018, HSS need not convert the warrants before 29 December as :

Quote "Since HSS atm only has 549,995,630 shares, he need to collect another 644,057,077 - 549,995,630 = 94,061,447 shares to achieve 67% including Warrants conversion to shares. Now HSS would need to collect at least 94.06 millions shares or 10.45 million shares daily (over 9 market days) in order to achieve 67% by 29 December instead of 5 million shares daily before HSS converts his warrants. So if we are HSS, it doesn't makes sense to convert the warrants which entails a cash payment of ( 140,390,220 x 0.18 = RM25,270,240) to Hovid and also enlarge the % shares base? "

HSS may convert the warrants to shares after 29 December to enjoy these Potential Benefits after 29 December:
1. Dividends when declared
2. Bonus & Rights Issues (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)
3. 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!
4. Potential capital appreciation if a big Pharma invest in Hovid etc.