how can they take ICON offline now and make it a cash cow for UMWOG.. don't forget when they listed ICON take money from the market and they need to give back to public first???
for a short time possible but then oil & gas industry is moving up trend and better QR will support further up prices after that...to me if UMWOG can be priced at 0.80 which is much worse shape than ICON, prices for ICON will move up faster to this target
UMWOG will submit circular in 4 months time, if approved by Bursa in 2-3 months, EGM 1 month, easily 7-8 months before takeover will be conducted. that's how long you should prepare to hold if you want that 50c
This stock rallied because it is valued at 50 sen in the proposed merger. Imagine if the merger can't proceed, the price sure drop. Noted that the proposal has condition precedents, one of them is lenders' approval. In addition, sometime, if there is any findings in the due diligence, that 50 sen value can be revised.
offshore: This stock rallied because it is valued at 50 sen in the proposed merger. Imagine if the merger can't proceed, the price sure drop. Noted that the proposal has condition precedents, one of them is lenders' approval. In addition, sometime, if there is any findings in the due diligence, that 50 sen value can be revised 02/03/2017 16:49
--------- Please read the announcement conditions in detail.
The parties acknowledge that if UMW-OG and/or HOSB does not issue the notice that the due diligence is satisfactory, and does not otherwise notify the other party that the due diligence is not satisfactory within four (4) weeks from 2 February 2017, the Conditions Precedent relating to due diligence are deemed fulfilled.
Only CPs relating to due d deemed fulfilled if no notice within 4 weeks. Still need lenders' approval. Not just Icon's lenders, but lenders of UMWOG and Orkim as well.
but still not worth to wait for a 6% upside at 0.470 price now. the downside will be huge if the deals is called off. although the chances are small, but there are still chance
IMHO if the proposed MGO by UMWOG is materialised, then it is likely that ICON shareholders will also lose out. Based on the announcements, the MGO is via a share swap of which ICON is valued at 0.50 and UMWOG at 0.80. Meaning if you have 1600 icon shares, you get 1000 UMWOG shares. The current price of UMWOG is 0.63, i.e. your 1600 ICON shares is worth only RM630 ...39.5sen
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PeterNg
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Posted by PeterNg > 2017-02-03 10:38 | Report Abuse
ICON Number of Share : 1.177b