Dear ALL, look like today is the last day we will see Kingboard in SGX. Please correct me if I am wrong.

Bye bye, Kingboard...

The last day to trade KCF shares is expected to be 21 August 2009 @5pm.

There is a shareholder briefing in Singapore @ Jurong Country Club, Ficus Ballroom, Level 2, 9 Science Centre Road on 31 July2009 9:30am

They will be sending you a proposal in a 233 pages book....and a proxy form. And the UOB KayHain S$20 promotional article.

Is your shares, is your call lor......1K difference or 400 pack of chicken rice.....heeee...

Others Risk :

a) KBL shares will be issue in script...Welcome back to Caveman Era where dinosuar roam the land.  If lost, it will be very troublesome. If they mail you and you did not receive it.....your problem .....

b) If KBL forget to pay you your due or you forget to ask for your due.....Six years after the election date. They will be release from any further obligation to make any payment.

c) What if KBL shareholder vote down the proposal to issue new KBL....another problem....

d) They reserve the rights to amend the term and condition of the scheme.

e) By the time you receive your KBL shares, KBL share price would have move up or down....

.....and much more .....pls read the thick manual.....

Yes..I have too...

Here is the game plan :

Facts:

i) For every 1000 shares of KCF, you will get 374 shares of KBL (Ticker: 1888 : HKEX).  This is based on KBL HK$2.96.

ii) The current trading price of KBL (1888) is HK$3.79.  This effectively translate the offer price to about 27cts of KCF instead of 21cts.

iii) To privatise Kingboard Cu Fold, they ONLY need 75% approval and NOT 90% like CK Tang.  Why....based on Section 99 of the Bermuda Companies Act of 1981 and no the Republic of Singapore Companies Act....

iv) The initiator of this proposal has already at least 64% of KCF as of Jan 19.  It is like going to be sure win...

The chance of success is simply too high, with only 11% to clear the 75% approval mark. 

What I suggest you should do :

v) Type A, you have many lots, many as in 50lots or 100lots or more and still underwater.

You should consider accept the scheme and ask for KBL share in full.  Continue your struggle to recoup your loss from there. MFT in HK rated KBL as between hold to buy (2buy call and 1 hold)

Note that for every 100lots of KCF shares, will add another S$ 5000 (5cts/per share) to you wallet or purse.

vi) Type B, you have little amount of shares.  

You should consider selling at 22cts......unless you really want the extra 5cts...there are other issue with KBL....see below.

vii) Accept the scheme and ask for money of 21cts/per share is not good. you might as well as on open market.

viii) Do note that when you choose to accept the scheme, you also concede a many rights to KCF. Please read your thick manual.

ix) Wah.....so good ah....I can buy @22.5cts now ....convert share and make 4.5cts of profit in HK....!!!! You should wait long long.....indeed....really long long.  Because KBL (1888) listed in HKEX is ALSO ILLIQUID !!!  What are those bundle of Independent Auditor talk about KCF ???

So how ?

Big lots accept scheme for shares in KBL and small lot sell in SGX.

Never oppose the scheme...lor....

This is just my thought and I am NOT a qualified FA.  I happened to own some KCF shares and I have spent 15minutes and 45seconds reading the proposal. 

I think I will go to HK to play.....eeeee....so dangerous....

Finally, DO NOT ACCEPT UOB KayHain offer to sell you new KBL share in HKEX for a super promotional rate of $20 on you behalf. Because you concede your rights to sell at a predetermine price of your comfort.

You will probably get a mail like..for example.....I am very pleased to inform you that your KBL (1888) has been successfully sold for HK3.02 on the HKEX.  A cheque will be issue soon.   Thank you Sucker.....

And then, you may want to argue ...hey ....the intraday high and low is 4.02 and 2.99 respectively.  Why 3.02 and not higher.......Ooops too late....

Please comment.