Friends please read this headline appearing on The Star on 12th June 2012
Tuesday June 12, 2012 Final terms for ECM-K&N RM890mil merger pact likely to be set this week
...now read this
K&N Kenanga, a Kuala Lumpur-based brokerage backed by Deutsche Bank AG, would pay in cash and shares and the final terms would be set this week, said the people, who declined to be named as the information is private.
....it plainly said "final terms would be set this week"
As always I leave you all to decide, the decision is always yours.....whether to stay & hopefully for the announcement soon preferable this week or chabut & make some profits. For me I will stay to see the real BIG GAIN after having average down & bought plenty when it was 77 cents from 82 cents.....take it from me that Ambank chief Azman will not sell cheap when it's NTA is $1.23 cents.
2143 ECM ECM LIBRA FINANCIAL GRP BHD ECM-Request For Suspension
LISTING'S CIRCULAR NO. L/Q : 65198 OF 2012 Kindly be advised that at the request of the above Company, trading in its shares will be suspended with effect from 9.00 a.m., Friday, 15 June 2012 pending a material announcement. Sr. Mgr. Issuers, Listing Div.
Let's hope tomorrow morning both ECM & Kenanga will announced the merger price for ECM shares following the suspension...I take it to be around $1.10 to $1.20....anything higher than this will be a bonus.
bro chong, could u explain what happens after the merger? is it they will buy back our shares with the merger price or there will be a new counter comprising both KN/ECM with a new share price?
Brother astrowoon , most probably ECM be delisted after the merger with Kenanga listed & traded only. Yes, they will exchange our ECM shares with at least 60 cents cash & the rest most probable in Kenanga shares & the added option of Loan stocks .....whether Kenanga will maintain the name Kenanga ECM Berhad is left to be seen....maybe they will change the nae Kenanga to Kenanga ECM because of marketing reasons.
Cheers everyone & let's hope come today they will announce a merger price of $1.20 and above, perhaps $1.722 cents taking into account of ECM net worth, hee, hee, hee.....then we all can eat abalone wash down with champagne.
For those who think that they play smart & want to take a little profit & sell yesterday & a few days back & hoping to see ECM goes down to collect again, have to regret for doing so. As it is I had warn you all yesterday with the below [see below]& you all do the stupid thing to sell & hope to pick up cheap again, hee,hee, hee
Posted by chong > Jun 14, 2012 01:01 AM X
Friends please read this headline appearing on The Star on 12th June 2012
Tuesday June 12, 2012 Final terms for ECM-K&N RM890mil merger pact likely to be set this week
...now read this
K&N Kenanga, a Kuala Lumpur-based brokerage backed by Deutsche Bank AG, would pay in cash and shares and the final terms would be set this week, said the people, who declined to be named as the information is private.
....it plainly said "final terms would be set this week"
As always I leave you all to decide, the decision is always yours.....whether to stay & hopefully for the announcement soon preferable this week or chabut & make some profits. For me I will stay to see the real BIG GAIN after having average down & bought plenty when it was 77 cents from 82 cents.....take it from me that Ambank chief Azman will not sell cheap when it's NTA is $1.23 cents.
Cheers.
....now please don't try to be too smart or try to outwit others. And to those who keep criticizing to discourage others not to buy, now "eat your heart out" & you keep criticizing & not contributing & sharing here & now you suffer feel bitterness or pain as they long as you live.
For those who have faith & keep collecting to reap the benefits of a merger, you have earn yourself a BONANZA, and as some say a big angpow before Hari Raya.
Cheers & let's be patient & wait a little longer to see the takeover price & then only we celebrate.....yes, patience my friends as patience is the mother of all virtues in buying shares. I had traded for nearly 20 years & I am still surviving. Please don't think that you want the price to increase immediately as soon as you buy, forget it my friends & face reality please. Yes, you all must have seen a number of idiotic persons or members who criticize & talk nonsense the most when they said you all had been cheated by me in buying Bintai at 34 cents & above....now ask yourself what is the price of Bintai now? Yes, it's now 48.5 cents, a gain of a whopping 14.5 cents per share....that is a gain of 42.65% profit on this Bintai counter.
The same thing will happen to Smartag just like Bintai...please hold Smartag for a least 2 reports more after the commencement of the Customs Department compulsory using of Smartag RFID on containers & please please don't contra but keep for mid or long term.
what can i say. I have found a truly genuine investor in this community. Consider my failure to hold ECM as a tuition fee. No regrets. Good luck and congrats.
Ya, good comment from bro Chong, at least with your posting that some of us hang on to collect gains. Thanks again and hope to see this kind of positive post. Cheers
Haha!Finally is a good news to all members who trust our leader bro. chong.Who eat abalone and who eat porridge the answer has proven.Bro.chong not only eat abalonelah now can even eat 'FATT TIEW CHEONG'.Cheers and sharing for some other counters.
=========== K&N Kenanga has sealed the deal to purchase ECM Libra’s investment bank and stockbroking businesses for rm875 million. The purchase will be satisfied by rm 650 million and the issuance of 95 million ULS and 120 million new Kenanga shares to ECM Libra.
The price tag values at 1.27 times over is book value of rm 688 million as at Jan 31, 2012.
The total payout for the deal is 68 sen per share, while the new Kenanga shares and loan stocks are valued at 63 sen and five sen each respectively. ===========
So the total deal is: - rm 650 million cash - 95 million ULS * 0.05 = rm 4.75 million - 120 million new Kenanga shares * 0.68 = rm 81.6 million grand total: rm 736.35 million.
How much does that translate to share value of ECM?
68 cents cash payment is not bad & you also have Kenanga shares & also some Loan stocks which give interest as well......correct me if I am wrong please...thank you.
Kenanga shares may move up with the extra clients from ECM, thereby more profits & thus Kenanga shares may move up....this is just a general opinion only.
Cheers.
PS. Brother tansrihew, you are much welcome & am happy that you make some good bucks....cheers.
ECM LIBRA FINANCIAL GROUP BERHAD (“ECMLFG” OR THE “COMPANY”) • Proposed Disposal; • Proposed Business Merger; • Proposed Capital Repayment; • Proposed Share Split; and • Proposed Share Consolidation, (collectively referred to as the “Proposals”)
Announcement Details/Table Section :
On behalf of the Board of Directors of ECMLFG (“Board”), ECM Libra Investment Bank Berhad (“ECMLIB”) wishes to announce that:
(i) ECMLFG had on 15 June 2012, entered into a conditional share purchase agreement with Kenanga Investment Bank Berhad (“KIBB”) and K & N Kenanga Holdings Berhad (“KNKH”) for the proposed disposal by ECMLFG of the entire equity interest in ECMLIB to KIBB for a total disposal consideration of RM875,114,000 (“Proposed Disposal”) (“SPA”); and
(ii) Pursuant to the Proposed Disposal, ECMLIB simultaneously entered into a business merger agreement with KIBB for the proposed business merger of the businesses of ECMLIB and KIBB (“Proposed Business Merger”) (“BMA”).
The SPA and the BMA were entered into after ECMLFG and KNKH received the approvals of the Minister of Finance via a letter from Bank Negara Malaysia dated 7 June 2012 and the Securities Commission via its letter dated 12 June 2012 for the Proposed Disposal and Proposed Business Merger.
In conjunction with and arising from the above, on behalf of the Board, ECMLIB also wishes to announce that the Company proposes to undertake a capital restructuring as follows:
(i) Proposed capital repayment to the shareholders of ECMLFG comprising a total of RM442,647,000 in cash, 120,000,000 ordinary shares of RM1.00 each in KNKH and RM47,750,000 nominal value of redeemable non-convertible unsecured loan stocks of KNKH (Series A) via a reduction of the par value of the existing ordinary shares of ECMLFG by an amount to be determined, in accordance with Section 64 of the Companies Act, 1965 (“Proposed Capital Repayment”);
(ii) Proposed share split involving the subdivision of the ordinary shares in ECMLFG after the Proposed Capital Repayment, to facilitate the Proposed Share Consolidation (as defined below) (“Proposed Share Split”); and
(iii) Proposed consolidation of the ordinary shares in ECMLFG after the Proposed Share Split resulting in ECMLFG having a reduced issued and paid-up share capital taking into account the Proposed Disposal and the Proposed Capital Repayment (“Proposed Share Consolidation”),
(collectively referred to as the “Proposed Capital Restructuring”).
The details of the Proposals are set out in the attachment.
Correction on the total deal. It should be: - rm 650 million cash - 95 million ULS = rm 95 million - 120 million new Kenanga shares * 0.65 (last price) = rm 78 million grand total: rm 823 million.
K & N KENANGA HOLDINGS BERHAD (“KENANGA HOLDINGS” OR “COMPANY”) PROP (I) PROPOSED ACQUISITION BY KENANGA INVESTMENT BANK BERHAD (“KIBB”) OF THE ENTIRE ISSUED AND PAID-UP SHARE CAPITAL OF ECM LIBRA INVESTMENT BANK BERHAD (“EIBB”) FROM ECM LIBRA FINANCIAL GROUP BERHAD (“ECMLFG”) FOR AN AGGREGRATE PURCHASE CONSIDERATION OF RM875,114,000 (SUBJECT TO POST-CLOSING ADJUSTMENT) (“PROPOSED ACQUISITION”); AND (II) PROPOSED BUSINESS MERGER OF THE BUSINESSES OF KIBB AND EIBB (“PROPOSED BUSINESS MERGER”). (COLLECTIVELY REFERRED TO AS THE “PROPOSALS”) CQUISITION 1.
Old dear me. First of all thanks to Mr Chong and Mr KL Trader.
I am a retired Chartered Accountant and with 27 pages of report to digest, I have given up.
Why not make it simple. Can someone damn good there just tell me if I own 100,000 of ECM shares bought at 88 sen per share, how much value will I get from Kenanga at a later stage. Forget about the market price when the skirt suspension if=s lifted today or Monday. We need to compare whether it is worth keeping the shares or to sell at market price next.
Oh ya, and I haven't factored in the 5% interest per annum on the loan stock. An extra RM28 in interest a year based on the example above? Ok, not that material. Haha..
Brother damonjun11 , from their web site of ECM LIBRA FINANCIAL GROUP BERHAD , I got this...
ECM LIBRA FINANCIAL GROUP BERHAD consist of
ECM Libra is an investment banking group with offices in Malaysia and Labuan providing corporations and individuals with a diversified range of financial solutions and services.
The Group's activities are conducted through seven business divisions, namely:
Investment Banking Treasury Stockbroking Fund Management Futures and Options Principal Finance & Investments Premier Advisory
...so are they selling the stock broking company ONLY to Kenanga while retaining the rest of the divisions?
As brother tsejuie had pointed out that ECM is to retain ...
Quote...This is of course not including the purchase consideration retained by ECM which they are not distributing of about RM0.32 per share.
So does that ECM LIBRA FINANCIAL GROUP BERHAD will NOT be delisted and be trading still without the SHARE BROKING BUSINESS?
So, we have ECM & Kenanga trading together with ECM not being a share stocking broking firm anymore?
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 3309 views | 3 d ago
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New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
chong
3,074 posts
Posted by chong > 2012-06-14 01:01 | Report Abuse
Friends please read this headline appearing on The Star on 12th June 2012
Tuesday June 12, 2012
Final terms for ECM-K&N RM890mil merger pact likely to be set this week
...now read this
K&N Kenanga, a Kuala Lumpur-based brokerage backed by Deutsche Bank AG, would pay in cash and shares and the final terms would be set this week, said the people, who declined to be named as the information is private.
....it plainly said "final terms would be set this week"
As always I leave you all to decide, the decision is always yours.....whether to stay & hopefully for the announcement soon preferable this week or chabut & make some profits. For me I will stay to see the real BIG GAIN after having average down & bought plenty when it was 77 cents from 82 cents.....take it from me that Ambank chief Azman will not sell cheap when it's NTA is $1.23 cents.
Cheers.