Posted by Shaken > 2014-05-06 09:59 | Report Abuse

Announcement out
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1614409

Posted by Barbarian > 2014-05-06 10:42 | Report Abuse

Very late the announcement

Posted by nsk82 > 2014-05-06 10:53 | Report Abuse

Tying up with Felda ?

http://klse.i3investor.com/blogs/valueinvestorresearchklse/51503.jsp

Posted by kllady_fidah > 2014-05-06 12:32 | Report Abuse

FIC bought 51%>>>>>>

Posted by scope8828 > 2014-05-06 12:56 | Report Abuse

Why most counter will drop after announcement? Gpacket, Hohup...why why?Encorp will be the same?

Posted by FAST_5 > 2014-05-06 12:59 | Report Abuse

yes.. hammer at top on 2nd May... will drop further

Posted by Ring > 2014-05-06 13:21 | Report Abuse

Please its not like that for Encorp, may be taken private and MSHG have to be satisfied with a fair deal n the issue is what is the price. Price was 1.53 before suspension, so 1.60 is low, may be 1.80 to 2.00 which of course i am guessing!

Posted by Ring > 2014-05-06 13:25 | Report Abuse

If you go backwards the good hearted twitters in this forum gave good hint of course followed by risk which you to take. If you want to play safe difficult lah. Let me tell u gentlemen i was loosing money n this forum make me earn some pocket money.. thanks to the good ppl of this forum.

Posted by Ring > 2014-05-06 14:29 | Report Abuse

OTHERS ENCORP BERHAD (“Encorp” or “Company”) Conditional Sale and Purchase Agreements between Lavista Sdn Bhd and Pegang Impian Holdings Sdn Bhd with Felda Investment Corporation Sdn Bhd

ENCORP BERHAD

Type Announcement
Subject OTHERS
Description ENCORP BERHAD (“Encorp” or “Company”)
Conditional Sale and Purchase Agreements between Lavista Sdn Bhd and Pegang Impian Holdings Sdn Bhd with Felda Investment Corporation Sdn Bhd



The Board of Directors of Encorp wishes to announce that it had been informed, today, by Lavista Sdn Bhd (“LSB”) and Pegang Impian Holdings Sdn Bhd (“PIHSB”), the major shareholders of the Company, that LSB and PIHSB have entered into separate conditional sale and purchase agreements with Felda Investment Corporation Sdn Bhd (“FIC”) today for the following:


(i) the disposal by LSB of 66,636,036 ordinary shares of RM1.00 each in Encorp (“Encorp Shares”), representing approximately 29.85% of the issued and paid-up share capital of Encorp as at 23 April 2014 (excluding treasury shares), 8,329,505 5-year warrants issued by Encorp (“Warrants”) and 16,659,009 5-year 6% redeemable convertible secured loan stocks with a nominal value of RM1.00 each issued by Encorp (“RCSLS”), to FIC for a total cash consideration of RM133,688,547.50 (“LSB SPA”); and


(ii) the disposal by PIHSB of 43,752,000 Encorp Shares, representing approximately 19.60% of the issued and paid-up share capital of Encorp as at 23 April 2014 (excluding treasury shares), 10,469,000 Warrants and 20,938,000 RCSLS, to FIC for a total cash consideration of RM106,027,450.00 (“PIHSB SPA”),


(collectively referred to as “Proposed Disposals”)


The LSB SPA and PIHSB SPA are inter-conditional upon each other.


Upon completion of the Proposed Disposals, FIC will hold approximately 49.45% of the issued and paid-up share capital of Encorp as at 23 April 2014 (excluding treasury shares). As such, pursuant to Section 218(2) of the Capital Markets and Services Act, 2007 and Section 9(1), Part III of the Malaysian Code on Take-Overs and Mergers, 2010, FIC will be obliged to extend a mandatory take-over offer to acquire the following:


(i) all the remaining voting shares of Encorp not already held by FIC and persons acting in concert with it (“PACs”) and such number of Encorp Shares that may be issued pursuant to the exercise of any outstanding Warrants and/or conversion of outstanding RCSLS prior to the close of the mandatory take-over offer (“Offer Shares”);


(ii) all the remaining Warrants not already held by FIC and the PACs (“Offer Warants”); and


(iii) all the remaining RCSLS not already held by FIC and the PACs (“Offer RCSLS”),


for a cash offer price of RM1.55 per Offer Share, RM0.55 per Offer Warrant and RM1.55 per Offer RCSLS.


For further details, please refer to the enclosed press notice by FIC dated 6 May 2014.


This announcement is dated 6 May 2014.

Posted by kllady_fidah > 2014-05-06 14:33 | Report Abuse

Posted by Ring > May 5, 2014 10:11 PM | Report Abuse

Of course its impossible "kllady" is trying to get some info from the horse mouth!


cash offer price of RM1.55 per Offer Share

Posted by traderman > 2014-05-06 14:34 | Report Abuse

mother close 1.53 offer price 1.55 warrant close 0.76 offer price 0.55

Posted by kllady_fidah > 2014-05-06 14:35 | Report Abuse

I blog with good intention..sharing is caring

Posted by kllady_fidah > 2014-05-06 14:36 | Report Abuse

tried to warn but was bashed.....

Posted by Ring > 2014-05-06 14:41 | Report Abuse

Sorry you are right, my average price 1.57, Is the MSHG going to agree, can anybody answer this?

Posted by kllady_fidah > 2014-05-06 14:42 | Report Abuse

sometimes we forget who in the forum.....accepted

Posted by Barbarian > 2014-05-06 14:43 | Report Abuse

reject they need 90% to push thru.

Posted by lhoong > 2014-05-06 14:46 | Report Abuse

reject it is worth at least RM3.00 to RM5.00

Posted by Ooi Teik Bee > 2014-05-06 14:48 | Report Abuse

The share is still listed in KLSE, you do not need to sell to them. Because it is a GO, they have to give a lower price. Market will adjust the price accordingly. Do not panic.
Eco World, the offer price is 1.26 (not so sure), the price still move up everyday after takeover. Let us wait and see what happen.
Thank you.

Posted by Barbarian > 2014-05-06 14:49 | Report Abuse

they will need the weighted average if consensus to go ahead is given after objection to be fair match against market valuation

Posted by Hotrod > 2014-05-06 14:49 | Report Abuse

My apologies kllady. You were right.

Mind giving advice whats the next course of action ? Hold or sell

Posted by Barbarian > 2014-05-06 14:52 | Report Abuse

OTB you still holding this share?

Posted by bracoli > 2014-05-06 14:53 | Report Abuse

Sll dy lor.. Still holding ar?

Posted by Ooi Teik Bee > 2014-05-06 15:00 | Report Abuse

Generally a listed company is taken over by another party. The listed company stock price will go up naturally. I do not see any reason Encorp can be exception.
Please do not panic, price will shoot up tomorrow.
Thank you.

Posted by dfsbipohsch > 2014-05-06 15:05 | Report Abuse

can v go in n buy now

Posted by Barbarian > 2014-05-06 15:05 | Report Abuse

kedai tutup hari ini for stock take ....kekekeke cannot buy

Posted by Barbarian > 2014-05-06 15:07 | Report Abuse

OTB will there be weighted avg for the price then??

Posted by Ooi Teik Bee > 2014-05-06 15:10 | Report Abuse

Encorp is still listed, see your price tomorrow.
Thank you

Posted by Hotrod > 2014-05-06 15:12 | Report Abuse

Don't think share price will fall in the long-run. Felda is not stupid to buy something that is worth less than 1.55. With Felda on board, Encorp will be expected to get a lot of big development projects moving forward.

If Felda's intention is to maintain Encorp as listed entity, they will push the price up so that minority shareholders will not accept the GO and thus the company can still maintain public spread of at least 25%.

Posted by Barbarian > 2014-05-06 15:15 | Report Abuse

same as SPSetia

Posted by Barbarian > 2014-05-06 15:16 | Report Abuse

reject reject

Posted by Barbarian > 2014-05-06 15:41 | Report Abuse

if we reject then they have no mandate to take private until price is right

Posted by Barbarian > 2014-05-06 15:49 | Report Abuse

one of the reason i can think of that price normally go up is that the principal company acquire at low price and would also benefit if it goes up to the desired price thru accumulation in large qty faster than us. So when the market decide to sell there are still demand which will bring down the price

Posted by cherry tomato > 2014-05-06 15:53 | Report Abuse

http://www.theedgemalaysia.com/business-news/288233-flash-felda-investment-corp-acquires-4945-stake-in-encorp-triggers-mgo.html

Posted by tonylim > 2014-05-06 16:59 | Report Abuse

.

Posted by chengyee > 2014-05-06 17:18 | Report Abuse

Hi Tonylim, how are you doing? :-)

Posted by shareguru > 2014-05-06 17:27 | Report Abuse

Buy if got weakness tomorrow due to contra players unloading

Posted by BC475654 > 2014-05-06 17:27 | Report Abuse

The offer price of RM 1.55 is agreed between 3 parties(Felda,Lavista and Pegang Impian).Treat this as if it is a DBT(direct business transection).Now,Felda with a 49.45% stake in Encorp,they are obliged to extend a mandatory take-over offer(MGO).The balance 50.59% shareholders reserve the right to accept /reject the offer.Encorp net asset per share as at 31/12/2013 was MR 1.51 with a declared dividend of 3 sen to be paid on 10/7.At 1.55 and with 3 sen dividend to be paid to Felda,the offer price is 1.52 which is a mere1 sen above the net asset value!
In reture,Felda will be laughing all the way to the bank with potential profits from the followings:

Encorp has projects in hand with a combined GDV(gross development value) of about 3.5bn.
Construction division's order book is worth about 2.5bn and concessions are valued at 2.2bn.

We,the minority shareholders will have to decide the true value of Encorp!

Posted by DaMaCai > 2014-05-06 17:47 | Report Abuse

Hantam tomorrow morning..limit up

Posted by kakijudi > 2014-05-06 18:11 | Report Abuse

mother short term will see weakness, but nevertheless will be supported by the GO price of 1.55. The never have the intention to privatise the company because they want their property arm to be a listed entity, thus the low MGO offer, because they know people would not accept the offer. For the long term, this stock will be a star performer. Felda is going to inject their prime land into this listed CO.

Posted by Ring > 2014-05-06 18:40 | Report Abuse

Gentlemen correct me if i am wrong! When SIME bought 30% of E&O shares at a discounted price therefore suppose to trigger MGO but never happened so the matter was taken to court. Apparently the E&O shares went up n the matter was dropped lately. The Govt wants the general public to invest in shares but are the MSHG protected. In this respect the closing price was 1.53 but the offer is 1.55, i dont see the logic, i think this should be disputed legally. I think Mr. Ranjit Singh of Security Commission should act on this protest. By right this deal triggers a MGO. Can anybody come to defend me on this issue!

Posted by betulbetulcakap > 2014-05-06 19:18 | Report Abuse

kakakap , sudah habis cerita belum ?

Posted by Ooi Teik Bee > 2014-05-06 20:27 |

Post removed.Why?

Posted by valueinvestor18 > 2014-05-06 20:43 | Report Abuse

Very good sharing from Mr. Ooi. Many members here are subscribe to his articles and some of us suffer paper loss. Are we going to attack him? Some yes, some no. I like Mr Ooi quote "There is always never ending to learn in stock market. There is no right or wrong in stock market, it is the probability to win". Invest in share market must be ready to face with equity risk, it is the probability to win, no guarantee , no 100% win. If want safe investments, proceed with FD, that all. So invest in stocks market, be ready to be risk taker!!

Posted by Ooi Teik Bee > 2014-05-06 20:54 |

Post removed.Why?

Posted by joel > 2014-05-06 21:02 | Report Abuse

http://www.thestar.com.my/Business/Business-News/2014/05/06/Felda-Investment-to-make-takeover-offer-for-Encorp/

...Encorp is going to North ?

Posted by Ooi Teik Bee > 2014-05-06 21:05 | Report Abuse

Dear all valued members,

Please chase out this pariah, a person cannot bully all the people all the time.
Please help.
Thank you.
Ooi

Posted by tan1868 > 2014-05-06 21:13 | Report Abuse

Laughdieme contribute nothing to the forum, can admin do something to bar these kind of parasite!

Posted by tan1868 > 2014-05-06 21:20 | Report Abuse

see what i mean? dog lah cock lah thats all loughdieme and proxy bring to the forum, a parasite!

No decency at all! damn!

Posted by TLTAN > 2014-05-06 21:27 | Report Abuse

Laughdieme = Lauuuuuuuuuuuuuuuuuuuuuuuuuuu SAI

Posted by Ooi Teik Bee > 2014-05-06 22:12 | Report Abuse

Dear all valued members,

Do you want this type of forum, please do your part to condemn this coward.
I am disappointed if this type of coward exists in I3investor.com.
Please do your part.
Thank you.
Ooi