Posted by wisdow_wy > 2016-07-04 20:32 | Report Abuse

shareholders will be holding unlisted shares if u choose not to accept.

Posted by hw0706 > 2016-07-04 21:57 | Report Abuse

eventually there will pay all the share at 2.65 with compulsory acq.

Posted by kaikai > 2016-07-05 11:23 | Report Abuse

wisdow + hw0706 : if Hwang family holds 50+ percent and the company get delisted due to insufficient public shareholding spread . It would make their control over the company more difficult when it's a private company. "Compulsory Acquisition" in your terms can only be executed if Hwang's family shareholdings surpass 90%. Please read the offer document before commenting and confusing investors here.

Posted by kaikai > 2016-07-05 11:24 | Report Abuse

It's really sad that amongst investors community, many don't even understand the terms set out in the offer letter and accepting the offer blindly !

Posted by wisdow_wy > 2016-07-05 12:42 | Report Abuse

kaikai...please read carefully..."THEY DO NOT INTEND TO MAINTAIN LISTING" they don't need to maintain their listing status now which they already achieve their intention. I don't understand what do you mean by "make their control over the company more difficult".

You left out one very important note, please read Non-Interested Director's recommendation. Can you please enlighten us, who is the Non-Interested Director? It's a very straight-forward scenario.

Posted by firehawk > 2016-07-05 22:56 | Report Abuse

this make me recall MBf fin. ... a few years ago, MBf finance boss (an Indian) also want to delist MBf fin. due to insufficient public shareholding spread ... he made the offer twice (in a few years time), the 1st. offer failed and in the 2nd. offer, he had to revised the offer to higher price .... sometimes to delist an insufficient public shareholding spread is not easy .....

those interested could search for the saga ;-)

Posted by nnMM > 2016-07-06 11:21 | Report Abuse

:( i hold mbf last time...the first round shareholder still can vote against during egm....we manage to block the delist. then second round tan sri used this delisting way......forcing shareholders to accept by using public spread way....haizzzzzz.....

Posted by nnMM > 2016-07-06 11:23 | Report Abuse

hlcap also same....small shareholders always on the losing side unless can hold like dr.yu

Posted by firehawk > 2016-07-06 12:29 | Report Abuse

the 1st. round he offered 0.80 ... the 2nd. round he offered 1.50 and later revised to 1.775, for me this was good enough!

to delist a counter is not so simple .....

Posted by firehawk > 2016-07-08 22:22 | Report Abuse

just now, i saw HLCap announcement, until now, HLCap can't successful delisted .... i feel like more than 5 years alrdy. to delist a counter is not so simple, not even for Quek .....

Posted by nnMM > 2016-07-11 19:09 | Report Abuse

another 15mil shares transfer to hwang family....once dbs accept the offer....KO

Posted by Boon DerMaster > 2016-07-12 10:46 | Report Abuse

Guys. Should we keep holding? I just received a call from Maybank advising me to sell.

Posted by kaikai > 2016-07-12 12:07 | Report Abuse

This is my rational , you want to take a company private and there is a 2nd shareholder that holds around 27%. You feel that the right price is around say RM3, how much would you offer to the 2nd shareholder in the first round ?, if you watch "Pawn Star", the rule is always to make your first offer at 10-20% below your target price so that the seller would "meet you in the middle".

Anyway, if you understand Company Act, even all the minority accepts the offer, Hwang's family shareholding is still below 3/4 which means that can't pass any special resolutions. This is significant bottleneck in restructuring or controlling the company under private entity. The only reason now that the company may be delisted may be due to "public shareholding spread" rule imposed by Bursa and not because Hwang family "DO NOT INTEND TO MAINTAIN LISTING". with a mediocre 50-60% no single shareholders can delist the company.

For illiterate investors who asked me to "please read carefully", it's better that you understand the game before you join the game !

Posted by kaikai > 2016-07-12 12:09 | Report Abuse

firehawk and nnMM highlighted a very good case study of HLC, Dr Yu holds 8% of HLC and with that he can denied QLC in delisting the company. Dr Yu is considered a minority in this case.

Posted by kaikai > 2016-07-12 12:26 | Report Abuse

For the benefit of all, you can decide whether to accept or not to accept on the 20th July. The Joint Offerors shall announce any revision of extension of offer at least 2 days before the closing date - which falls on the 21st July.

Posted by Hk Wong > 2016-07-14 15:54 | Report Abuse

revise offer

Posted by Desimondo > 2016-07-14 20:13 | Report Abuse

i wont accept such a peasant amount for this, please revise offer. I have been a long term shareholder!

Posted by George Wong > 2016-07-18 15:46 | Report Abuse

When the payment will be send to those who had submitted the shares to the receiver?

Posted by asdf > 2016-07-19 01:25 | Report Abuse

George

10 days after the first closing or after it becomes unconditional.
This was stated in their letter of offer.

Posted by nnMM > 2016-07-20 12:06 | Report Abuse

kaikai.....when is the offer revision?

Posted by firehawk > 2016-07-20 15:28 | Report Abuse

probably no offer revision!

Posted by 15% to 20% > 2016-07-20 16:05 | Report Abuse

Thanks Kai Kai for the info. But i would want to make it clearer on the 90%, it is not just hold more than 90%, it is the acceptance rate 90% (excluding offeror shares)..... . . . .


kaikai wisdow + hw0706 : if Hwang family holds 50+ percent and the company get delisted due to insufficient public shareholding spread . It would make their control over the company more difficult when it's a private company. "Compulsory Acquisition" in your terms can only be executed if Hwang's family shareholdings surpass 90%. Please read the offer document before commenting and confusing investors here.
05/07/2016 11:23


===========
In the event the Joint Offerors receive valid acceptances of not less than 9/10 in the nominal value of the Offer Shares (EXCLUDING EXCLUDING EXCLUDING EXCLUDING EXCLUDING EXCLUDING EXCLUDING EXCLUDING EXCLUDING EXCLUDING EXCLUDING EXCLUDING EXCLUDING EXCLUDING HCM Shares already held by the Joint Offerors and the PACs at the date of the Offer), the Joint Offerors intend to invoke the provisions of Section 222(1) of
the CMSA, subject to Section 224 of the CMSA, to compulsorily acquire any remaining Offer Shares for which valid acceptances have not been received prior to the Closing Date.

==============


Info: Based on annual report. DBS Vickers Securities (Malaysia) Pte Ltd 60,000,000 23.51%

Posted by nnMM > 2016-07-20 19:22 | Report Abuse

As the public shareholding spread of HCM is less than 10% of its total listed shares (excluding treasury shares), pursuant to Paragraph 16.02(2) of the Listing Requirements, Bursa Securities shall suspend the trading of the securities of HCM immediately upon the expiry of 30 market days from the date of this announcement. The suspension will be effected on 2 September 2016, being the market day immediately following the expiry of 30 market days from the date of this announcement.


Once the suspension pursuant to Paragraph 16.02(2) of the Listing Requirements is effected, it will only be uplifted by Bursa Securities upon full compliance with the public shareholding spread requirement, where HCM must ensure that at least 25% of its total listed shares (excluding treasury shares) are in the hands of public shareholders, or as may be determined by Bursa Securities.

As of the date of this announcement, HCM has not taken any steps to increase its public shareholding spread to above 10% and neither has it formulated any rectification plan. Further, as stated in the Offer Document dated 13 June 2016, the Joint Offerors do not intend to maintain the listing status of HCM and do not intend to take any steps to address the shortfall in the public shareholding spread requirement of HCM.

Posted by nnMM > 2016-07-20 19:31 | Report Abuse

suspension of trading....

Posted by Ordinaryman > 2016-07-20 21:44 | Report Abuse

What is DBS doing?

Posted by Liek Lim > 2016-07-21 00:56 | Report Abuse

What would be happen and what are the options for those minority shareholders who still holding the shares?

Posted by wisdow_wy > 2016-07-21 09:19 | Report Abuse

indeed very literate

Posted by asdf > 2016-07-21 11:22 | Report Abuse

Liek Lim,
They become shareholders of a private company.

Posted by nnMM > 2016-07-21 11:28 | Report Abuse

yup.......haiz ....i miss out the chance to receive RM2.65 cash.....

Posted by Liek Lim > 2016-07-21 11:57 | Report Abuse

Thanks asdf!

Posted by wisdow_wy > 2016-07-21 13:43 | Report Abuse

Thanks kaikai! very valuable lesson for illiterate normal person like me. i learn a lot from you.

Posted by kaikai > 2016-07-21 14:46 | Report Abuse

IMPORTANT : For those who still want to accept you have until today (till 5pm) to complete the Bursa Depository Transfer Form (FTF010) at your ADA (your stockbroking house) and you can submit/courier the acceptance form to Agriteum Share Registration Services Sdn Bhd in 7 Days.
Address is 2nd Flr, Wisma Penang Garden, 42, Jalan Sultan Ahmad Shah 10050 Penang.

Posted by firehawk > 2016-07-21 22:26 | Report Abuse

seemed DBS doesn't accept the offer!

Posted by wisdow_wy > 2016-07-22 09:13 | Report Abuse

yes. dbs doesn't accept but still does not change the fact that those "who choose not to accept or sell" will be holding unlisted shares after 2nd of September.

Posted by asdf > 2016-07-22 09:33 | Report Abuse

Asking price is now lower than 2.65

Posted by ganasai > 2016-07-22 12:53 | Report Abuse

no need worry, company is still not private. they still need to publish out any announcement, and the agm still as usual. They cannot decide any big decision such as sell off asset or new business path.... alone, because this still need the vote from other holders such as dbs. They cannot treat the money as private. They still need to declare dividend fairly for every share holders if got dividend. In other words, they still not fully control the company. If want fully, please come out another offer price.

Posted by hw0706 > 2016-07-22 16:06 | Report Abuse

not so soon and will end up with unlisted share

Posted by ganasai > 2016-07-22 16:34 | Report Abuse

then see this family when want to full control. they take up so many shares also need money. but still not fully control. u can imagine, the situation now for them also same like last time. share got increase, but still not able full control. they cannot do what they want.

Posted by ganasai > 2016-07-22 16:41 | Report Abuse

if take up now is 6x% means still got 4x% not satisfy (just major is not public holder) or not agree current offer. Let see the show.

Posted by firehawk > 2016-07-22 16:42 | Report Abuse

stingy ppl want to take advantages from small shareholders :(

Posted by nnMM > 2016-07-22 16:48 | Report Abuse

dbs willing to go private together with hwang family. they have been working together for 20 years and part of the IB success is because of dbs. they won't go hostile with hwang family.

Posted by nnMM > 2016-07-22 16:50 | Report Abuse

this take over offer was well planned and strategized.

Posted by nnMM > 2016-07-22 17:00 | Report Abuse

in fact dbs has board representative in hwang cap. if they want to make noise they already made earlier.....haizzzzzzzz....what to do...small shareholders :(

Posted by ganasai > 2016-07-22 17:30 | Report Abuse

let see the good show lah. dbs is Singapore very well known organization. if they accept offer, they will follow on reasonable price and let the whole process visible to public. wont be diam diam private together.

Posted by ganasai > 2016-07-22 17:34 | Report Abuse

besides, do u think family got enough cash to absorb the share or just using loan? how about using loan but still not fully control company? then how to pay back is using loan? use your brain.

Posted by ganasai > 2016-07-22 17:36 | Report Abuse

those sell on 2.4, really.......

Posted by ganasai > 2016-07-22 17:44 | Report Abuse

one word, stock market really tricky. Who can see the clear picture, he/she is the winner. Of course timing also an issue. u can hold how long, longer u can earn more.

Posted by nnMM > 2016-07-22 17:58 | Report Abuse

not everyone can hold unlisted shares for long. what if they need cash?

Posted by ganasai > 2016-07-22 18:04 | Report Abuse

This is question, for those use margin, then sorry lah. 2.65 price, then accept loh. different people, got different situation, as long as u still earn then ok loh. accept or not accept, justify yourself.

Posted by nnMM > 2016-07-22 18:04 | Report Abuse

the family received RM2.625 cash dividend from 2014 until 2015 on their 30%++ shares. So meaning that the 34% they bought now can be paid using cash. They can easily do so by just reinvesting their dividend.