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viruz7667 Senior	03-May-2008 14:55        viruz7667 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Published May 3, 2008 Robinson a step closer to delisting Email this article Print article Feedback ROBINSON and Company, Singapore's oldest retailer, is a step closer to being delisted from the Singapore Exchange (SGX). On Wednesday - the day that Gulf investor Al-Futtaim's voluntary conditional cash offer for Robinson closed - Al-Futtaim said that it had received valid acceptances for 82,151,404 shares, representing 95.59 per cent of the total. This includes a 29.99 per cent stake sold by Indonesia's Lippo Group on April 3. Lippo Group was Robinson's single largest shareholder. It also includes the 23.18 per cent stake pledged to Al-Futtaim earlier by Silchester International, Aberdeen Asset Management Asia and Tecity. On Jan 20, Al Futtaim made a voluntary conditional cash offer of $6.25 cash per share on condition that it obtained more than 50 per cent of Robinson's voting rights by the close of offer. On April 3, the offer price was revised to $7.20 cash per share. Trading in Robinson shares has since been suspended. Al-Futtaim said that it would exercise its right under Singapore takeover rules to buy any Robinson shares it does not own and delist the counter if its stake crossed 90 per cent. Al-Futtaim plans to finance the takeover by borrowing 70 per cent of the purchase price, Bloomberg News has reported. The Middle East company has said that it wants to use Robinson as a launch pad into South-east Asia, particularly Indonesia.
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lausk22 Veteran	03-Apr-2008 23:25        lausk22 About Contact  Quote this Post!
x 0   x 0  Alert Admin	The sale that everyone has been waiting for has arrived...Last offer $7.20.
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zhenxian Senior	18-Mar-2008 12:31        zhenxian About Contact  Quote this Post!
x 0   x 0  Alert Admin	The current market price is lower then the offer price of $7 per share. guess no one wants to take it ya
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zhenxian Senior	18-Mar-2008 12:12        zhenxian About Contact  Quote this Post!
x 0   x 0  Alert Admin	REVISION OF OFFER PRICE IN RELATION TO THE VOLUNTARY CONDITIONAL CASH OFFER FOR ALL THE ISSUED STOCKS OF THE COMPANY http://info.sgx.com/webcorannc.nsf/d21c0ed0b4a507cf482571b2003641d2/ca76dcb47f5744c34825740f0026340e?OpenDocument
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shares2007 Member	01-Mar-2008 07:56        shares2007 About Contact  Quote this Post!
x 0   x 0  Alert Admin	if the raidy hands are tied.. since they already at max possible holdings without triggering a buyout offer and that there are no other offer on the table? sold mine and ran....
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sarahlkh Senior	29-Feb-2008 10:37        sarahlkh About Contact  Quote this Post!
x 0   x 0  Alert Admin	by that time, one could buy at lower price and wait for the offer again. does that make sense?
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njpang Member	28-Feb-2008 15:15        njpang About Contact  Quote this Post!
x 0   x 0  Alert Admin	if there is going to have a counter offer, it will definitely be higher than the current offer price in order to tempt those who still hold tight to their Robinson shares. Does this make more sense?
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sarahlkh Senior	28-Feb-2008 15:07        sarahlkh About Contact  Quote this Post!
x 0   x 0  Alert Admin	why not... the least it will go is 6.25. but again who knows once the offer is rejected what the next offer might be? looking at the economy going down, and inflation continue to run, it may not be a bad idea to offload some now, especially for those that had bought at 4-5.
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njpang Member	28-Feb-2008 14:54        njpang About Contact  Quote this Post!
x 0   x 0  Alert Admin	Don't quite understand why some people disposing off below the offer price. According to the circular, ALF might counter offer if less than 90% accept the inital offer, and those who accepted ALF initial offer will get to enjoy the revised offer price if there is any. Selling in the open market will only incur commission, not unless people are expecting the takeover to fail and the price fall back to the $4-$5 range given the current market sentiment. Anyone care to shed some light on this?
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EastonBay Master	26-Feb-2008 09:40        EastonBay About Contact  Quote this Post!
x 0   x 0  Alert Admin	It is closer to the closing date of ALF's offer and no counter offer to ALF's $6.25 on offer so far. Previously some investors were betting for counter offers so there was some speculations pushing up the counter a little, close to $7. But if you notice, the trading volume have been thin with only a few hundred lots each day.   Sold mine to the market already.
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njpang Member	25-Feb-2008 21:11        njpang About Contact  Quote this Post!
x 0   x 0  Alert Admin	Any idea why Robinson dropped so much today? appreciate any comment.
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zhenxian Senior	25-Jan-2008 14:37        zhenxian About Contact  Quote this Post!
x 0   x 0  Alert Admin	well, may be now too late to chase after this stock cause it has been gone up so high for the past few days. Good luck guys:)
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EastonBay Master	25-Jan-2008 10:47        EastonBay About Contact  Quote this Post!
x 0   x 0  Alert Admin	There is a chance that investor is speculating on counter bidding at a higher price (pls not an inducement to buy/sell). Px has since move to 6.30.   Also, just want to debunk the idea the cost to Lippo is $7.90 by listing the sequence of event. Draw your own conclusion: Apr 13 2006 OCBC sold 29% to Lippo at $7.90 Aug 13 2006 Robinson announced $0.24 dividend and $1 special dividend. To me, Lippo has gotten back $1.24 in a short span of time $7.9-1.24= $6.66 (an over simplistic calculation but gives a rough picture). Thereafter, the new board said they will discontinue the high payout policy. Think savvy indonesian business are that stupid. Think again.
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EastonBay Master	25-Jan-2008 10:29        EastonBay About Contact  Quote this Post!
x 0   x 0  Alert Admin	if I remember correctly, OCBC still owns about 8%.  Btw OCBC is bidding for Straits Trading. So u might want to take that into account looking at OCBC.
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alexmay Veteran	23-Jan-2008 19:04        alexmay About Contact  Quote this Post!
x 0   x 0  Alert Admin	Anybody knows if OCBC owns Robinson? If she does what is the % Thanks, I am more interested in OCBC. They may get a winfall out of the deal?
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sarahlkh Senior	23-Jan-2008 16:27        sarahlkh About Contact  Quote this Post!
x 0   x 0  Alert Admin	hmm not too sure if wad Auric did will be worthy... since they could have offered lower price at this time. if the deal dun go through, Auric share price will be in jeopardy. if it go through, market sentiments is uncertain if it will push Auric share up. so neither here nor there situation?
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787180 Master	23-Jan-2008 14:07        787180 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Auric pacific which owns ab 29% of Robinson will be a better share to get if Lippo came out with a counter bid..besides Auric pacific pays very gd dividends..any comments  ..I'm quite tempted to buy Auric pacific at $1.30...have 50lots at $1.00 in my cpf paying very  gd dividends...I guess Auric may also call for AGM to get sahreholders'approval of whether to divest its robinson stake
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sarahlkh Senior	23-Jan-2008 11:49        sarahlkh About Contact  Quote this Post!
x 0   x 0  Alert Admin	sold already... though lippo not happy at current price, as they got at 7.9... keep $ to cover up for others...
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EastonBay Master	22-Jan-2008 19:38        EastonBay About Contact  Quote this Post!
x 0   x 0  Alert Admin	of course it is not worth the risk buying from the market now to earn that misely 3 cents per share. Add the brokerage fees and you will realise that you don't make a single cent from the deal. This is result of an efficient market. However, if Lippo is very determined to ensure they do not cease to be the single largest shareholder and counter offer at a higher price, they might be more upside to this. No one will ever know except themselves on how this drama is going to play out.   Zhenxian, I would think the Board is surprised because it comprises of mainly Lippo's people. Really ALF doesn't need the nod from Lippo's people.
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EastonBay Master	22-Jan-2008 19:30        EastonBay About Contact  Quote this Post!
x 0   x 0  Alert Admin	It is a conditional deal, i.e. if they get 50% and above, the offer holds. So far they've already gotten 23+% from Tecity, Aberdeen etc. u need to know the feud between Lippo and Ms Chew to understand why Tecity and Aberdeen are selling. Today's ST provides that story. Currently Lippo holds 29.9%. ALF is seeking another 27% from the rest of 47% shareholders, including the minority shareholder, to add up to 50%. So it is quite meaningless to say "if Robinson rejects the deal".
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