PJ DEVELOPMENT-WARRANTS 10/20

KLSE: PJDEV-WC (1945WC)

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Last Price

0.50

Today's Change

0.00 (0.00%)

Day's Change

0.00 - 0.00

Trading Volume

0


11 people like this.

3,777 comment(s). Last comment by Venthaan83 2022-04-29 10:45

Posted by tnsduntalkokkk > 2016-02-12 00:13 |

Post removed.Why?

tssl74

499 posts

Posted by tssl74 > 2016-02-17 10:32 | Report Abuse

tis counter arh....sign....just hope to cover back my profit.

tssl74

499 posts

Posted by tssl74 > 2016-07-11 09:26 | Report Abuse

anyone has any updates?

tssl74

499 posts

Posted by tssl74 > 2016-07-14 11:19 | Report Abuse

lousy counter

Invest33

135 posts

Posted by Invest33 > 2016-08-30 16:02 | Report Abuse

some buying interest on this counter..........something brewing?

dief

84 posts

Posted by dief > 2016-08-31 21:40 | Report Abuse

FairnR, is this like before? If Im not interested to sell to that crook, I do nothing right? What percentage will I automatically lose my warrants?

tssl74

499 posts

Posted by tssl74 > 2016-09-04 00:15 | Report Abuse

Lastime did so but never work oso ><'

tssl74

499 posts

Posted by tssl74 > 2016-09-05 13:12 | Report Abuse

i wonder whether it would work at all by asking MSWG to organise a forum.
So tempted to just sell off at 0.50 eventhough it is quite a big loss

dief

84 posts

Posted by dief > 2016-09-05 13:15 | Report Abuse

Wat happens if i ddont sell and hold? Will it be automatically sold if pjdev reach a certain percentage?

susuan

214 posts

Posted by susuan > 2016-09-09 14:16 | Report Abuse

Emailed MrQuah last week, and no reply, as expected!!
Received the notification from PJDev and read through, but no date given re takeover deadline.

Teh_Invest

475 posts

Posted by Teh_Invest > 2016-09-26 18:34 | Report Abuse

Hi, yes same question as dief. What happen if I don't sell? Well it be an automatically selling if it reached the required percentage of take over?

Teh_Invest

475 posts

Posted by Teh_Invest > 2016-10-04 15:47 | Report Abuse

Thanks FnR. Can OSK still force to delist it if 90% of the outstanding is not acquired?

And do you think OSK will re-offer?

crossroad

124 posts

Posted by crossroad > 2016-10-05 14:33 | Report Abuse

Minimum OSK should offer same as the previous VO la... so stingy

crossroad

124 posts

Posted by crossroad > 2016-10-05 14:34 | Report Abuse

On the other hand, investors who believe in the potential of PJD can opt to sell at 50 sen and buy OSK to reap the benefits.

enid888

581 posts

Posted by enid888 > 2016-10-10 16:19 | Report Abuse

Since the offer dateline has been extended for 2 weeks, I suggest that you hold before making any decision. Probably, the offer price may be increased.

RVI123

659 posts

Posted by RVI123 > 2016-10-11 00:04 | Report Abuse

I am not selling. For those who intend to sell, you can do that later since the dateline is 25/10/16. OSK may revise if they can not get 90% threshold. Hope that you can get a more reasonable price.

RVI123

659 posts

Posted by RVI123 > 2016-10-11 21:36 | Report Abuse

As of 7/10/16 (Fri), OSK n OLH have amassed

94.31% of PJDev. They need 98.9% to trigger compulsory acquisition.

84.95% of PJDev-WC. They need 96.8% to trigger compulsory acquisition.

It is so far away from their target and unlikely for them to be successful. The main reason is due to the extremely unreasonable offer prices. It may also due to many shareholders bought their shareholdings at prices higher than RM1.50 during the run up at end of 2013 (as high as RM2.23). They are reluctant to lelong their shares.

The real value of PJDev is RM4.60, OSK n OLH must offer a more reasonable price for the minority shareholders to accept their general offer.

RVI123

659 posts

Posted by RVI123 > 2016-10-12 18:18 | Report Abuse

The first offer dateline has passed. Although the offer is extended, those who still keep the shares are those who have decided to reject the offer at RM1.50. They represent about 50% of the outstanding shareholders for both PJDev and PJDev-WC. That is very high percentage and it reflects the unfairness and unreasonableness of the offer prices.

enid888

581 posts

Posted by enid888 > 2016-10-12 18:41 | Report Abuse

The ones who worried about the delisting have already sold by today. Those remained are prepared to grow with the company.

enid888

581 posts

Posted by enid888 > 2016-10-12 18:45 | Report Abuse

The volume will remain low for the next 2 weeks.

RVI123

659 posts

Posted by RVI123 > 2016-10-15 20:53 | Report Abuse

My RNAV estimation of RM4.60 is not very far from the actual value.

RVI123

659 posts

Posted by RVI123 > 2016-10-15 20:53 | Report Abuse

Thanks FnR for the information on Goodwood Park.

It has also happened a few times in Malaysia where the major shareholder was unable to acquire 100% of the shares and the companies were delisted.

At least on 2 occasions, the delisted companies were in that situation and eventually the major shareholder offered very high price to the remaining shareholders and bought over their shareholdings.

1. Pantai Holdings Berhad
2. Saujana consolidated Berhad

RVI123

659 posts

Posted by RVI123 > 2016-10-15 20:54 | Report Abuse

On the Saujana Consolidated Berhad case, it has been commented by one of i3 user in this blog that he was paid three times the original offer price for his shares. The following is the comment from Pillay 15. You can trace back his comment.

--------------------------------------------------------------------------------------------------------------

pillay15 : Thank to RV1123 and enid888. Gives me hope to just keep the shares. It may turn out to be like Saujana.. Delisted but after a few years they gave 200% extra from the original offer price.

22/09/2016 18:19

RVI123

659 posts

Posted by RVI123 > 2016-10-16 23:01 | Report Abuse

FnR, you are right. MIDF's advise is misleading and wrong.

My previous comment.
------------------------------------------------------------------------------
MIDF has taken an easy way out.

The gave the RNAV value of PJDev at RM2.09. They used the 2015 audited account Net Asset figure (Independent Advice Circular To Shareholders, Pg 29) to calculate the RNAV.

RVI123

659 posts

Posted by RVI123 > 2016-10-16 23:01 | Report Abuse

MIDF should not use the word RNAV. It is wrong and misleading. RNAV is the net book value adjusted to the current market valuation of the properties owned by the company.

What MIDF gave was

Net Book Value Per Share Based On 2015 Audited Account And Adjusted To The Conversion Of Warrants Outstanding.

RVI123

659 posts

Posted by RVI123 > 2016-10-16 23:01 | Report Abuse

The properties of the company are still valued in the account at the historical cost when the properties were purchased.

RVI123

659 posts

Posted by RVI123 > 2016-10-16 23:02 | Report Abuse

pillay 15, thks for the valuable information on your experience in Saujana. It helps many in deciding to continue to keep the shares even though it will be delisted.

It is true that the company has to wait for another 6 months to raise a fresh offer.

Berkat

582 posts

Posted by Berkat > 2016-10-16 23:39 | Report Abuse

Good info and tqqq

enid888

581 posts

Posted by enid888 > 2016-10-17 12:16 | Report Abuse

@FnR : I also read the news on Goodwood Park today. True, the major shareholder offers $42.81 as compared to the initial offer at $11.88. On top of that, the major shareholders together with the minorities were given dividends many times.

RVI123

659 posts

Posted by RVI123 > 2016-10-18 00:51 | Report Abuse

There is for sure another extension as allowed by the Takeover Act.

I am not so worried about being a minority shareholder of PJDev after it is delisted. OLH may be a tough negotiator. However, as you can see, everything he do is following the Company Act and business laws. Even though it is unlisted, every related party transaction in future will be revalued by professional valuer. Nothing much to worry about.

He has offered a low price for PJDev but this is permissible by the laws. It is up to the minority shareholders to decide whether they want to accept the offer or not. If they think that the offer is unreasonable, they can reject the offer.

RVI123

659 posts

Posted by RVI123 > 2016-10-20 15:53 | Report Abuse

The daily volume is low. The announcement by OSK shows that the quantity purchased from the open market and the offer acceptance are low after 11/10/16. Those who have decided to accept the offer might have already done so before 11/10/16. The remainings are those who have decided to stay on and continue to become minority shareholders unless a fair and reasonable new offer is announced.

crossroad

124 posts

Posted by crossroad > 2016-10-20 16:45 | Report Abuse

the warrant holders must be prepared to convert to ord shares if the good news does not come before the expiry date of the WC.

RVI123

659 posts

Posted by RVI123 > 2016-11-02 11:57 | Report Abuse

Just go through the few current ongoing takeovers and a major shareholding purchase that took place today, then we can see how unfair OSKH's offer is.

Counter / NBV / Offer Price /Premium
Maypak / RM0.49 / RM1.00 / 104%
CenBond / RM1.40 / RM1.75 / 25%
WCT Hldg / RM2.12 / RM2.50 / 17.9%
PJ Dev / RM2.32 / RM1.50 / -35.3%

Note :
WCT - a direct business transaction by Desmond Lim on 1/11/16.
The Net Book Value per share is based on the latest quarterly results as at 30/6/16.

Just look at it yourself, PJ Dev is the only one where the offer price is below the Net Book Value / share. If PJDev offered price is to match WCT,OSKH should offer RM2.74 for each PJDev share. The Warrant should be offered at RM1.74 per share.

RVI123

659 posts

Posted by RVI123 > 2016-11-02 13:29 | Report Abuse

The Revalued Net Asset Value (RNAV) of PJDev is RM4.60. Pls don't accept at RM1.50. OSKH is trying to blackmail the minorities by delisting the counter. Many who are worried about the delisting have already sold off their holdings. The remainings are those who know the actual value of the counter and just simply unable to accept the diliculous price.

The offer price of RM1.50 is UNFAIR and UNREASONABLE

paperplane2016

21,473 posts

Posted by paperplane2016 > 2016-11-08 22:07 | Report Abuse

Hahahaha. LOusy stock

tssl74

499 posts

Posted by tssl74 > 2016-11-16 10:50 | Report Abuse

Thnks FairnReasonable.
Would really appreciate if you keep us update on how much OSK has acquired PJD & warrants from time to time.

tssl74

499 posts

Posted by tssl74 > 2016-11-22 14:54 | Report Abuse

any updates on tis counter?

crossroad

124 posts

Posted by crossroad > 2016-11-28 11:00 | Report Abuse

Trading in PJD to be suspended tomorrow - STARBIZ page 3

tssl74

499 posts

Posted by tssl74 > 2016-11-29 11:56 | Report Abuse

due to what reason?

edlim

63 posts

Posted by edlim > 2016-11-30 10:38 | Report Abuse

Suspended. Any Sifu here can update the latest ?

tssl74

499 posts

Posted by tssl74 > 2017-02-07 09:54 | Report Abuse

hopefully they can start offering the fair price very soon.
holding tis counter for way too long.

tssl74

499 posts

Posted by tssl74 > 2017-05-17 09:31 | Report Abuse

FAIRnREASONABLE
Your guess applies to warrant as well?

Posted by silver123 > 2017-12-07 10:09 | Report Abuse

Dear all, I still have shares with PJD warrant. What should I do as PJD has been delisted? Thank you.

Posted by Revv Rays 进 > 2018-01-03 00:49 | Report Abuse

Dear all, I still have shares with PJD warrant. What should I do as PJD has been delisted? Thank you. (me too any idea?) thanks

insulter

211 posts

Posted by insulter > 2018-01-30 14:20 | Report Abuse

call pjdev hq they will answer u

fattatt

8 posts

Posted by fattatt > 2019-01-24 21:50 | Report Abuse

Dear all, anybody sold their shares after delisted. What options do we have.?

Posted by silver123 > 2020-01-29 10:07 | Report Abuse

Dear all share expert , what should I do to this shares that doing to expire this end of this year. Thanks.

Posted by Chen6131 > 2020-05-08 10:50 | Report Abuse

Anyone still holding PJDWC? And if yes, what can do about it? Please advise. Thank you

tssl74

499 posts

Posted by tssl74 > 2020-08-13 15:56 | Report Abuse

"FAIRnREASONABLE"
1. if convert to PJD, will they send us the conversion form or do we call to ask?

2. How to sell to OSK?
They have to offer us right?
Or you called them?

Posted by Venthaan83 > 2022-04-29 10:45 | Report Abuse

hi guys, I used to have PJDEV-WC. But I managed to convert to PJDEV mother shares with the exercise price of RM1.00. That mean if you have 10k PJDEV-WC shares, you need to fork out 10k to convert the warrants to mother shares (PJDEV). Now I get a decent dividend payout from them.... it's around 0.20cent per share yearly. In my opinion, it's worth holding the PJDEV shares.

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