Why OSK announced 5 sen dividend before the Q results?
This might link to the offer to take over PJDH.
OSK take-over offer for PJDH closed at 5.00 p.m. (Malaysian time) on Monday, 21 November 2016. However if one wished to exercise his rights in accordance with subsection 223(1) of the CMSA after the Closing Date, one could serve the Offeror a notice to acquire his PJ Development Shares and/ or Warrants, whereby such acquisition is to be done on the same terms as the Offer (including at the same offer price of RM1.50 for each PJ Development Share and RM0.50 for each Warrant) as set out in the Offer Document. To give the Offeror notice, one had to complete, sign and return to the Offeror the form of notice which must reach the Offeror not later than 5.00 p.m. (Malaysian time) on Wednesday, 22 February 2017, which was not less than three (3) months from the First Closing Date or the Closing Date, if the Offer had been extended, as the case might be.
I guess this unusual dividend announcement 1 day before the PJDH deadline could be a last minute inducement for diehard PJDH to swap over to OSK.
Arising from acquisitions after delisting of PJDH, OSK effective interest in shares and warrants of PJDH increased from 96.42% to 96.73% and from 90.60% to 91.42% respectively as at 21 February 2017. (The statistics are obtained from the latest Q OSK report).
PJDH is therefore still not 100% owned by OSK despite being delisted.
JJChan, if you are a mature person, please don't talk nonsense and tried to misrepresent others. The remaining 3.27% share holders and 8.58% warrant holders of PJD (the minorities) are not, as you put it, "always asking his money back from PJD".
On the other hand, they are long-term investor. They had the chance to sell to OSK or in the open market, but they opted not to. Now, OSK may pay them fair and reasonable sum to buy them out, if OSK so wishes. The Melbourne Square project belongs to PJD, which although delisted, is still in business. Please wait till the end to draw your conclusion. Thanks.
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Posted by boon1515 > 2017-02-10 23:10 | Report Abuse
OLH of course will be the major beneficiary of this stock, check the OSK-WC and OSK shares he holding and his son holding =)