THE INVESTMENT APPROACH OF CALVIN TAN

AT LONG LAST: LTAT OFFICIAL ACCEPTANCE FORM TO TAKE BPLANT PRIVATE IS OUT, What should you do next? Calvin Tan

calvintaneng
Publish date: Sat, 18 Nov 2023, 12:08 AM
calvintaneng
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Hi Guys,

I have An Investment Approach I which I would like to all.

Dear Investing fraternity of i3 Forum

A very happy day indeed

After two long years we now SEE a nice Rm1.55 Official Offer from LTAT to take Bplant private

Those who wish can fill in the Acceptance Form and in 10 days LTAT will bank in the CASH to your Bank Account as provided in your CDS Acc application


If not just wait for 60 days more

If by 60 days LTAT managed to garner more than 90% of Bplant shares then the MGO will become COMPULSORY and you need not do anything as your Bplant shares will be AUTOMATICALLY ACQUIRED AND RM1.55 will be BANKED IN TO YOUR BANK ACC


However, there is still a possibility LTAT might no get above 90% threshold

In that scenario LTAT Might need to OFFER A FINAL HIGHER PRICE to entice the rest by RAISING THE PRICE



NOTE:


THIS WAS WHAT HAPPENED TO BOUSTEAD PROJECT IN SINGAPORE


SEE

Boustead Singapore makes exit offer of $1.18 for Boustead Projects’ shares

Felicia Tan



Boustead Singapore makes exit offer of $1.18 for Boustead Projects’ shares
This time, the exit offer price is 23.6% higher than Boustead Projects’ last-traded price of 95.5 cents per share before its trading suspension. Photo: The Edge Singapore


Boustead Singapore has proposed an unconditional cash exit offer of $1.18 per share for shares in Boustead Projects AVM 0.00% . The move comes after the former said it will seek an extension of time from the Singapore Exchange S68 -0.21%  Regulation (SGX RegCo) to provide updates on its exit offer in September.

This time, the exit offer price is 23.6% higher than Boustead Projects’ last-traded price of 95.5 cents per share before its trading suspension. The exit offer price is also 24.2% higher than the previous offer of 95 cents per share, which closed on March 27.

It also represents around 20x and 0.9x of Boustead Projects’ consolidated earnings per share (EPS) and net asset value (NAV) per share respectively for the last financial year.

Wong Fong Fui, the chairman and group CEO of Boustead Singapore F9D 0.57%  , as well as his children, have provided irrevocable undertakings to adhere to the decision of the group’s independent shareholders at an extraordinary general meeting (EGM) to be held before the end of 2023. Boustead Singapore’s independent shareholders will then decide on whether to extend the exit offer to Wong and his children.

Wong and his children have also agreed to defer the receipt of the cash consideration due to them till six months after the close of the exit offer should they be permitted to tender their shares in Boustead Projects in connection with the exit offer.

At the close of Boustead Singapore’s previous offer on March 27, the group acquired 20.63% of Boustead Projects’ shares, bringing its stake to 75.5%. Of the remaining 24.5%, 19.99% of Boustead Projects’ shares are held by Wong and the concert parties who did not get the chance to take part in the previous offer. Another 4.51% of Boustead Projects’ shares are held by public minority shareholders who did not accept the previous offer.

See also: Boustead Projects' IFA PrimePartners calls privatisation offer 'not fair' but 'reasonable'

Of the 25.13% of Boustead Projects’ shares available for purchase during the previous offer, Boustead Singapore had acquired about 82% of the available shares, leading the former’s shares to be suspended as it was unable to meet the 10% public free-float requirement.

“The company independent directors, in consultation with their advisers, have spent considerable time and effort during the moratorium period weighing all possible delisting and privatisation options to achieve a positive outcome for all stakeholders,” reads the statement put out by Boustead Singapore on Nov 14.

“They have a fiduciary duty to protect the interests of Boustead Singapore’s minority shareholders and had to ensure that any subsequent offer would be attractive to Boustead Projects’ public minority shareholders and yet not be prejudicial to the interests of Boustead Singapore and its minority shareholders. Due to material conflicts of interest, Wong and all other interested persons have abstained from decision making on both the previous offer and the exit offer,” it adds.

As at 12.44pm, shares in Boustead Singapore are trading 1 cent higher or 1.18% at 86 cents.


1ST ATTEMPT 95 SEN FAILED

2ND ATTEMPT NOW $1.18 


OR 24.2% HIGHER


Like Boustead Malaysia - Boustead Singapore has over 100 years history

Both sitting on "Gold mine" Assets


Kind Regards

Calvin Tan


Please buy/sell after due diligence or consult your Remisier/ Fund Manager


Note:


In year 2020/21 we in Eagle Vision First Mover on Palm Oil gave a buy call on Bplant at 57 sen

After 2 years or more Bplant is now offered at Rm1.55


And we received 24 sen dividend which bring down our holding cost to 33 sen (57 sen less 24 sen dividend)


So from 33 sen to Rm1.55 Bplant is up a nice 369%


We still got Top 9 Palm oil stocks


1) SIME DARBY PLANT

2) IOI CORP

3) TAANN

4) SOP

5) FGV

6) JAYA TIASA

7) THPLANT

8) HS PLANT

9) TSH RESOURCES


Now Peter Lynch said

Buy a basket of 10 Value stocks. Even if two or three might go bankrupt never mind if one can become a 10 baggars

In Bplant case we got 369% or a 3.69 baggar

And out of 9 more Palm oil stocks will there be three that might go bankrupt? No problem

Just one Bplant can cover future loss of 3 (maximum loss is 100%)


Have a nice day

Discussions
1 person likes this. Showing 2 of 2 comments

calvintaneng

PALM OIL JEWEL: BPLANT OR BOUSTEAD PLANTATION (5254) BPLANT HAS DEEP VALUE ASSETS AND INCREASING EARNINGS, Calvin Tan Research

https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2021-04-12-story-h1563301593-PALM_OIL_JEWEL_BPLANT_OR_BOUSTEAD_PLANTATION_5254_BPLANT_HAS_DEEP_VALUE

2023-11-18 00:11

calvintaneng

Reposted Article: OIL PALM STOCKS IN Bull Run Time: Those Prepared with Biggest Capacity Will Always Excel More Than Others, Calvin Tan

https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2021-11-04-story-h1593687704-Reposted_Article_OIL_PALM_STOCKS_IN_Bull_Run_Time_Those_Prepared_with_B

2023-11-18 00:12

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