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

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

My previous comment.
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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.

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.

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.

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.

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

Good info and tqqq

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.

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.

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.

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.

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.

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

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

Hahahaha. LOusy stock

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.

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

any updates on tis counter?

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

Trading in PJD to be suspended tomorrow - STARBIZ page 3

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

due to what reason?

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

Suspended. Any Sifu here can update the latest ?

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.

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

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

call pjdev hq they will answer u

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

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.