Unconditional Mandatory Take-over Offer @ 0.90 apiece is too lowlah..anyway, Mieco is going to remain listed. it's a waiting game. Will not let go until above 1.30.
How come no analysts cover this Unconditional Mandatory Take-over Offer ? At least someone did a study to inform us more instead of letting the share price locked at 0.90 for 6 months, then worked out the average of 0.90 for take-over price, not fair at all.
You need to know the rule of game before playing the game. Stock price is easily to be manipulated if the trading volume is small. Big fish can easily eat small fish like us
◦Mieco Chipboard has received an unconditional mandatory takeover offer from SYF Resources executive chairman and chief executive officer Datuk Seri Ng Ah Chai. ◦Ng, who holds substantial stakes in furniture manufacturer SYF Resources and Inch Kenneth Kajang Rubber, has offered to acquire all the remaining shares of Mieco for a cash offer price of RM0.90 a piece. ◦The mandatory offer comes after Ng entered into a conditional share sale agreement with BRDB Developments for the acquisition of 119.2 million shares of Mieco, representing approximately 56.8 percent of the total outstanding shares. ◦Ng said intends to maintain Mieco’s listed status. He, however, would have to compulsorily acquire the shares he does not own in case 90 percent of the 90.81 million Mieco shares currently not in his hands are sold to him during the takeover period.
Significance: For 2Q16, Mieco Chipboard reported a net profit of RM0.8 million from RM6.7 million previously as revenue fell 18.4 percent to RM79.3 million. It is noted that the RM0.90 per share price tag is at a discount to the volume-weighted average price (VWAP) for the six months before June 29 of RM0.92, and the VWAP for the 12-month period of RM0.97. Shares of Mieco Chipboard last traded at RM0.90 at time of writing.
later on, the share price will rally...what i experienced when i was holding OSK for a few years, but Mieco will starve you: NO DIVIDEND PAID. But just watch the show ...don't sell cheap..
Today, Mieco is riding on a good price momentum...keep it UP! The offeror should entice the shareholders to sell to him..Net Assets Per Share or NAB is 1.59. Make the price more attractive but not playing the game of pressing it down.. win-win situation!
If any individual or company wants to compete on the acquisition of shares with Datuk Ng...this idea is not bad at all.. share price will climb higher..
Nov Q results should be a good one. Time for turnaround after all the (debt) restructuring... If other furniture companies (e.g. Lihen, Hevea etc) are doing good, Mieco should be too.
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 3141 views | 3 d ago
0:17
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....
kllow
166 posts
Posted by kllow > 2016-08-18 16:33 | Report Abuse
market price is above MGO price.....interesting !