bluedolphine..doubt so. UMWOG announcement dated 19.01.17..Section 2.2,and 6.1 ..424,635,175 UMWOG shares to be issued for ICON MGO (679,416,280 ICON shares). For every 1,600 ICON shares you get 1,000 UMWOG shares. At current UMWOG price of 0.63, ICON is worth 0.395. Another way of looking at it, at current ICON price of 0.475, then UMWOG has to go up to 0.76. If the proposal materialise at current offer conditions, then IMHO, I think better to sell 1600 ICON shares at 0.475 =RM760 and buy 1200 UMWOG shares at 0.63(RM756) than to wait for MGO where you get only 1,000 UMWOG shares.
Plse this is only my opinion, not encouragement to buy or sell..buy or sell your own decision.
Is it lenders' approval required or UMW OG minority shareholders approval as Star mentioned?
Posted by noah > Mar 5, 2017 01:29 PM | Report Abuse 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.
noah 202 posts Posted by noah > Mar 5, 2017 01:30 PM | Report Abuse
so as of now in view of there is no due diligence update. by 2 Mar 2017 the due diligence are deemed fulfilled.
Posted by noah > Mar 6, 2017 11:18 AM | Report Abuse don't think there will be any issue with lender's approval for this case. it's Ekuinas & PNB after all. just like left hand to right hand. if other corporation then yes there would be a higher risk.
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Posted by JamesPond > 2017-04-04 10:45 | Report Abuse
bluedolphine..doubt so. UMWOG announcement dated 19.01.17..Section 2.2,and 6.1 ..424,635,175 UMWOG shares to be issued for ICON MGO (679,416,280 ICON shares). For every 1,600 ICON shares you get 1,000 UMWOG shares. At current UMWOG price of 0.63, ICON is worth 0.395. Another way of looking at it, at current ICON price of 0.475, then UMWOG has to go up to 0.76. If the proposal materialise at current offer conditions, then IMHO, I think better to sell 1600 ICON shares at 0.475 =RM760 and buy 1200 UMWOG shares at 0.63(RM756) than to wait for MGO where you get only 1,000 UMWOG shares.
Plse this is only my opinion, not encouragement to buy or sell..buy or sell your own decision.