As per our last understanding, Jobstreet has seek to revised their selling prices with SEEK. And today we have an encouraging development.

My expectation earlier will be near RM2.50. But as latest confirm via Bursa announcement, it will be roughly around RM2.62. Please read :http://www.bursamalaysia.com/market/listed-companies/company-announcements/1714221

Also the attachment here :http://announcements.bursamalaysia.com/EDMS/edmsweb.nsf/all/47EB1B90EB63291048257D390036C244/$File/Jobstreet%20Announcement%20-%20Amendment%20Letter%20-%20Final%20190814.pdf

In a nutshell, the long stop date is 31 Oct 2014, so we can expect everything finalized then. While cash distribution will be 2 months time later, which will be end of the year.

The selling consideration is now RM1890mil, much higher than earlier RM1,730mil. It is now selling around P/E 32 as updated. Also, as guided by management, cash distributed back to shareholders shall be around RM1857mil, after some RM33mil expenses related. So using this amount divided back to the fully diluted proforma share outstanding, it work out to be around RM2.60, 20cents higher than current share price near RM2.40. It is a 10% gain from price closing yesterday.

At the end, do take note Singapore Competitive Commission has 24months to study this case. Thus, if SCC has no respond after 31 Oct2014, expect some more delays or we risk to lose this deal with SCC rejection. Thus calculate your risk and expectation before taking position here.