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F & N
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F&N
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Octavia
Elite |
23-Jul-2013 09:57
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CIMB note that FNN shares have commenced “ex” trading and believe that more clarity from TCC/Thai Bev on its plans to 1) restructure FNN’s F& B and property businesses and 2) restore the stock’s public float will be the key milestones to watch for and could catalyse the stock. House slash our SOP estimates from $10.94 to $7.60, largely to account for the capital reduction. House FY14-15 core EPS numbers are cut by 3-6%. (still based on a 20% discount to its property RNAV) is now lower. We estimate that investors will be getting its property business at an implied discount to RNAV of 37% – among the widest in the sector. Maintain Outperform. |
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kahdeve
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22-Jul-2013 11:24
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not all at. very confuse. ??hold or sell f& n if still vested? | ||
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Jasonsouza77
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22-Jul-2013 10:44
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thanks for the info...
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kahdeve
Member |
22-Jul-2013 10:37
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capital reduction of $3.28 in cash. Ex date today 22 Jul Payable 31 Jul | ||
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Jasonsouza77
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22-Jul-2013 10:08
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woke up in the morning to a nasty shock...does anyone know the reason for the massive drop? is it a time to buy or just watch..thanks everyone,,:) |
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Octavia
Elite |
18-Jul-2013 20:58
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The Board wishes to announce that TCC Assets Limited (" TCCA" ) and Thai Beverage Public Company Limited (" ThaiBev" ) have informed the Company today of the following:
(a) TCCA has not been able to dispose of the Company’s shares with a view to restoring the public float during the Initial Period, due to the following: (i) TCCA was in discussions with potential investors on the disposal of the Company's shares during the Initial Period, but was unable to undertake the disposal as market conditions became unfavourable and (ii) the ongoing Review, which may lead to an evaluation of possible corporate actions by the Company (b) accordingly, a request has been made to the Singapore Exchange Securities Trading Limited (" SGX-ST" ) for a further extension of time until 31 December 2013 to restore the public float of the Company, in view of the current market conditions and the time required for the Company and its advisers to complete and evaluate the Review (c) further to the discussions with the SGX-ST and assurances given by TCCA to the SGX-ST: (i) the Company has been allowed an additional and final period of up to 31 December 2013 to restore its public float and (ii) trading of the Company's shares will continue during the abovementioned period beyond 19 July 2013. The Company will update shareholders as and when it has further information regarding the restoration of the public float of the Company. |
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Octavia
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17-Jul-2013 11:37
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FNN: proposed capital reduction of $3.28 in cash has been approved by the High Court. Ex date on 22 Jul Payable 31 Jul | ||
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teeth53
Supreme |
16-Jul-2013 18:25
Yells: "don't learn through life, learn to grow with life " |
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 FNN-Notice-of-Books-Closure-for-Proposed-Capital-Reduction-16.07.13.pdf
Notice is hereby given that the Transfer Books and Register of Members of the Company will be closed from 5.00 p.m. on 24 July 2013 (the “Books Closure Date”) for the purpose of determining the entitlements of Shareholders under the Capital Reduction. |
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orangejuice01
Member |
05-Jul-2013 10:42
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Stock price After returning $3.28/shares would be key as owner has 90% - absolute control. Can take it private which is a major risk to minority shareholders. Like to see how the minimum float is to be restored, after throwing in the investment & bank loans for the acquisition.Most likely the bankers have already agreed and committed to take up the free float one way or another... |
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GorgeousOng
Elite |
05-Jul-2013 09:21
Yells: "Hehehaha...enjoy life n live to the fullest..." |
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19 July...is getting nearer n nearer... I am waiting...Cheers! | ||
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krisluke
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05-Jul-2013 09:16
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Fraser and Neave (F& N) (SGX: F99) announced after the market close on 28 June 2013 that a special resolution on a proposed capital reduction plan was unanimously passed at the Extraordinary General Meeting held on the same day.
The capital reduction exercise involves returning $3.28 per share to shareholders as part of the company’s proceeds from selling Asia Pacific Breweries to Heineken N.V. last year. The exercise totals around S$4.7 billion. F& N will make an announcement in due course on exactly when it will take place, once all necessary approvals are obtained. It is expected that the cash distribution will be paid to shareholders on or about 31 July 2013. On the same day, the conglomerate also announced that it will appoint advisers to study and review alternative strategic options to unlock shareholder value. This may involve a segregation of its property-related businesses from its non-property related businesses. Furthermore, F& N announced yesterday that it had appointed two separate Chief Executive Officers – one to oversee the beer department and the other to manage the non-alcoholic beverage division. All these follow a long corporate tussle that involved F& N, Thai Beverage Public Company Limited (SGX: Y92) and Overseas Union Enterprises Limited (OUE) (SGX: LJ3) from September 2012 to January 2013. On 13 September 2012, Thai Beverage and TCC Assets Limited issued an announcement to a mandatory conditional cash offer for F& N at S$8.88 per share. The mandatory conditional cash offer was triggered after TCC acquired about 1.37% of F& N between S$8.80 to S$8.88 per share, bringing the combined interest of TCC and Thai Beverage in F& N to 30.36%. On 15 November 2012, OUE entered the fray. It made a voluntary conditional cash offer at S$9.08 per share for all the shares of F& N. On 18th January 2013, TCC and Thai Beverage upped the ante by offering S$9.55 per share. On 21st January 2013, OUE withdrew its offer. TCC and Thai Beverage now control 90.28% of F& N. F& N is still quoted on the Singapore Exchange after it decided to keep its listing status. The approval to remain listed was granted by SGX on 19 April 2013. F& N has three months – until 19 July 2013 – to restore its public float to at least 10% and this would entail a disposal of around 4.7 million shares. |
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GorgeousOng
Elite |
02-Jul-2013 16:42
Yells: "Hehehaha...enjoy life n live to the fullest..." |
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F&N begins integration with ThaiBev
Author: kiasutrader | Publish date: Tue, 2 Jul 12:18 | >> Read article in Blog website F&N begins integration with ThaiBev. Fraser and Neave (F&N) has begun the process of integrating with Thai Beverage Public Co by creating two senior appointments. Ng Jui Sia, the chief executive of F&N's Malaysia-listed F&N Holdings Bhd, has been appointed as CEO for non-alcoholic beverages. Huang Hong Peng has been named CEO for beer. F&N, which also has businesses in property and in publishing, announced that it was looking into strategic options that could include splitting the property and non-property businesses. F&N shares closed at $8.73 on Monday, up by 1.7 per cent or 15 cents, before the new appointments were announced. (Business Times) |
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Octavia
Elite |
29-Jun-2013 22:56
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Charolen has until 19 July to convince new instituitonal players to take up his stake so that he can restore the freefloat of FNN. |
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Octavia
Elite |
29-Jun-2013 22:52
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Singapore's Fraser and Neave Ltd said on Friday it is considering separating its property-related businesses from its soft drinks, food and other operations.
" (F& N) wishes to announce that the company will appoint advisers to study and review alternative strategic options available to the company to unlock shareholder value," it said in a stock market filing. " This may involve a segregation of its property-related businesses from its non-property related businesses." Thai billionaire Charoen Sirivadhanabhakdi won control of the Singapore company in January after a bidding war with a group led by Overseas Union Enterprise Ltd. - Reuters |
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kahdeve
Member |
12-Jun-2013 21:26
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Anyone can advise on tis counter? i hv some lots at 9+, wat will it be after the pay out? |
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Tys5115
Member |
28-May-2013 13:01
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any chance of either privatization or spin off a reit for FNN? | ||
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starlene
Elite |
21-May-2013 11:56
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FNN’s 2Q13 saw 17% yoy core EPS growth, thanks to its F& B and property units. Many overseas development projects will be completed to underpin a stronger 2H13. FNN has also announced that it will return S$4.73bn in cash to shareholders via capital reduction. 2H13 core earnings formed --% of our and consensus’s full-year estimate. We deem this as in line given the stronger anticipated 2H. We maintain our core EPS estimates and SOP-based target price. Our pro forma RNAV estimate after the cash distributions is around S$7.75. At current levels, we estimate investors will be getting its property business at an implied discount to RNAV of 43%. Maintain Outperform | ||
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Octavia
Elite |
13-May-2013 23:34
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Fraser & Neave (FNN) reported solid fiscal second quarter profit before interest and tax of S$163.6 million, up 71% y-o-y. But profit after tax for the quarter (S$66 million, down 48% y-o-y) was negatively affected by the one-time charge of S$72 million that arose from the general cash offer.
Likewise, its food and beverage unit registered solid earnings growth, with PBIT increasing twofold, due to improved demand for its products, better marketing execution and lower input costs. An interim dividend of 3.5 cents per share was also declared. Following the disposal of its entire interest in Asia Pacific Breweries (APB) in November 2012 for S$5.6 billion, FNN announced that its plans to return approximately 84% of its proceeds (S$4.7 billion) back to shareholders. This translates to S$3.28 per share.The remaining S$0.9 billion would be retained, bringing down FNN’s net gearing to 17.3%, compared to 27.4% (pre APB sale) in the previous financial year. Post its S$3.28 per share capital distribution, the net asset value (NAV) of FNN would correspondingly be reduced from S$8.80 per share to S$5.52 per share. The proposed capital distribution is likely to be well received by the market, providing strong signals that FNN and its parent company Thai Beverage Pcl could introduce further restructuring exercises. Other key catalysts for the stock would include potential synergistic business opportunities with Thai Beverage Pcl over the medium to long term. Overall, its underlying businesses performed well,with its property unit posting strong earnings, up 21% y-o-y, buoyed by strong rental income and progressive revenue recognition of pre-sold residential projects in Singapore. |
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oldflyingfox
Master |
13-May-2013 21:52
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After pay out, the NAV will also drop at the same level, same to the share price. All these are expected. | ||
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Tys5115
Member |
13-May-2013 21:44
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no big reaction or strong interest in F& N despite the $3.28 payout today ???? | ||
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