Why Yu Fu do not buy all present seller until 58 cts,which will save them a lot of money to be privatised, unless Fu Yu is trying to unload their 70%, hoping more Buyers will queue at 54 ctss,,,Could be trying to create a dumping campaign, hopefully not ???
In HOVID case , announcement of takeover was on 10-10-17 and advisor recommended shareholders to accept the offer on 9-11-17. It is reasonable to assume the whole process should be around 2 months and payment less than 3 months.
We refer to our announcement dated 7 December 2017 in relation to the receipt of a letter from Fu Yu Corporation Limited, on behalf of Fu Yu Investment Pte Ltd requesting the Company to undertake a selective capital reduction and repayment exercise pursuant to Section 116 of the Companies Act, 2016.
The Board of Directors of LCTH has appointed RHB Investment Bank Berhad as the Principal Adviser for the Proposed SCR.
If RHB factored the appreciation of the JB land and the hidden agenda of the future planned expansion by Fu Yu, the offer price should be more than 58 cts,,,,
No way out. Cannot push up the price as HOVID. 'They' will make sure the price will be below 0.58, making the offer at 0.58 is very attractive! At this moment 'all' agreed to the Fu Yu offer.
Giving NTA price is not fair as LCTH has built a lot of tangibles and intangibles assets and goodwill , transparent or non transparent hidden by Fu Yu, which could be good or bad...
On behalf of the Board, RHB Investment Bank Berhad wishes to announce that the Company had on 4 January 2018 written to the Board of Directors of Fu Yu Corporation Limited to request for an extension of time from 5 January 2018 up to 19 January 2018 for LCTH to respond to Fu Yu Corporation Limited with its decision as to whether to take steps to implement the Proposed SCR and to recommend the Proposed SCR to the shareholders of LCTH for consideration.
- hopefully, Fu Yu will agree to the proposed extension of time
On behalf of the Board, RHB Investment Bank Berhad wishes to announce that Fu Yu Corporation Limited had vide its letter dated 5 January 2018, resolved to grant the Company an extension of time from 5 January 2018 until 19 January 2018 to respond to Fu Yu Corporation Limited with its decision as to whether to take steps to implement the Proposed SCR and to recommend the Proposed SCR to the shareholders of LCTH for consideration.
Save for the extension of time for the Company to respond to Fu Yu Corporation Limited, all other terms and conditions as stated in the SCR Offer Letter remain unchanged.
why the time extension by 2 weeks to finish the assessments n make a recommendation? Is there possibility of hidden assets? or something else which cannot be confirmed? Hopefully there is some hidden assets.
We refer to the announcements dated 7 December 2017, 4 January 2018 and 5 January 2018 in relation to the Proposed SCR.
In accordance with Paragraph 3.06 of the Rules on Take-Overs, Mergers and Compulsory Acquisitions 2016, the Board (save for the interested directors who are the persons acting in concert with Fu Yu Investment Pte Ltd, being Hew Lien Lee, Tam Wai, Ho Nee Kit and Ching Heng Yang (collectively, the “Interested Directors”)), had on 8 January 2018 appointed Mercury Securities Sdn Bhd as the Independent Adviser to provide comments, opinions, information and recommendations to the Board (save for the Interested Directors) and to the entitled shareholders in respect of the Proposed SCR.
Barring any unforeseen circumstances and subject to LCTH obtaining the necessary approvals and/or consents from the relevant authorities/parties as disclosed in Section 5 of this announcement, the Proposed SCR is expected to be completed in the second quarter of 2018.
We refer to the announcements dated 7 December 2017, 14 December 2017, 4 January 2018, 5 January 2018, 8 January 2018, 10 January 2018 and 12 January 2018 in relation to the Proposed SCR.
On behalf of the Board, RHB Investment Bank wishes to announce that the Securities Commission Malaysia had, vide its letter dated 13 February 2018, informed that they have no further comments on the circular in relation to the Proposed SCR.
Type of Meeting Extraordinary General Meeting Indicator Notice of Meeting Description LCTH CORPORATION BERHAD ("LCTH") -Notice of the Extraordinary General Meeting ("EGM")
Enclosed Notice of the EGM of LCTH dated 14 February 2018 to convene the EGM on 8 March 2018. Date of Meeting 08 Mar 2018 Time 02:00 PM Venue Kayangan Suite, Pulai Springs Resort, 20KM Jalan Pontian Lama, 81110 Pulai, Johor, Malaysia Date of General Meeting Record of Depositors 02 Mar 2018
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Posted by miker > 2017-12-10 23:42 | Report Abuse
...Invoke EGM to vote against (<10%) or for (> 75%) the proposed SCR to be successful.