Unless management wants to maintain the company's listing which I highly doubt, I do not think there will be a revised offer. KAF public spread is below 25%. Its either you take up the offer of selling at RM2.70 and earn that 9 or 10 sens, or u hold unlisted shares when the company gets delisted. Below is a good example.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4826729

I am however surprised that the gap is still at 9 or 10 sens so I may be missing out on something. 3.4% in 2 months is amazing. I see a free money opportunity here but please correct me if you think otherwise.

Hey guys, I just made a post about this corporate exercise and I would be really grateful if you guys can share with me your opinion on this.

https://clementting.wordpress.com/2015/08/01/getting-a-1-year-fixed-deposit-rate-in-3-months/

Cheers

@hng33 Tq. Cheers =)

@hng33, link is not working =\ you mind re-pasting the link? Tq

Kenny - This is not a voluntary offer (hitting above 33%) nor is it a mandatory offer (above 50%). This is an outright purchase and it will require 90% acceptance (including the 42.46% from the current major shareholders) at one go within 21 days from the Posting Date (when the Offer Document is released to the public) failing which all of the shares will be returned. The Posting date must be approved by SC and despatched within another 21 days from 17th June. We may need to wait for a maximum of 42 days to know the result (unless extension is given).

Also, offerer can still withdraw its offer with SC's approval.

I believe it is due to the uncertainty of having 90% acceptance, SC's privatisation approval and offer withdrawal that is causing the stock to be trading at a discount from RM 3.80.

Hope that explains =)

Reason why there is "only" a profit of RM 15.23m is because there was some substantial (I think it was over RM300+ million) revaluation reserves under their equity which is then transferred into retained earnings. What this means is that it has converted RM 300+ mil from paper gain from properties to real cash.

Put it a different way, if the management did not revalue its lands and it sold its business today at the same offer, it would have profited RM 300+ mil plus another RM 15.23m. Hope that explains =)

I'm surprised the market sold it heavily over this good news. I do hope I made the right call today though... made quite an entry today. *fingers crossed*

Owh.. I think you got it confused there. That 15% you were referring to is not distribution. That money will be held in an income generating account as final retention sum. In case the disposed companies over declare their dividends to GLB, this 15% money will be reduced accordingly. See clause 2.5.3 for the explanation =)

out of curiousity, how did you come out with 15% and 40 cents?