Just yesterday, Jobstreet announced a revision in its sale price to Seek which below is self explanatory.


The special dividend hence is being revised to RM2.62.

One should note the following:

- post dividend distribution, the Net Asset value of Jobstreet will still be around RM0.40 per share;
- the sale has yet to be approved by Singapore's anti-competition body. Expected decision to be before 31 October 2014.
Whether I am confident of the approval? I would say yes, although this is taking longer than expected. Nevertheless the longer approval is a blessing in disguise as this allows change in purchase price by Seek.com.

Remember my article on undervaluation of Jobstreet by Seek.com. This seems to be a reprieve.