RafflesH   

Sale of Raffles City

What will happen if :

(1) the shareholders dis-approval for the 6 cents payout ?
(2) the delisting plan fall thru ?

 

Hi Lonewolf,

Thanks for your feedback.  I will sit and wait :)

Thanks again.

Jeremy Chan

 

Hi Lonewolf, you are right about paying brokerage if one are to sell at 6c now. If Capitaland buys at 6c, then it makes sense. Do you know how many percent holdings to make it unconditional? I know that they hold about 55% shareholdings.

 

The people that are buying in at 6 cents is likley to be Capitaland. I know they still need shareholder approval for the 6 cents payout. What I dun know for sure is whether if they mopped up enough shares on the open market, they can make the exit unconditional.

awesome, if you have Raffles Holding shares, it makes no sense for you to sell at 6 cents and incurred brokerage. Once the delisting plan is confirmed, you will get your money. So unless you are in need of the money in a hurry, just sit tight.

 

The people that are buying in at 6 cents is likley to be Capitaland. I know they still need shareholder approval for the 6 cents payout. What I dun know for sure is whether if they mopped up enough shares on the open market, they can make the exit unconditional.

awesome, if you have Raffles Holding shares, it makes no sense for you to sell at 6 cents and incurred brokerage. Once the delisting plan is confirmed, you will get your money. So unless you are in need of the money in a hurry, just sit tight.

 

I have Rafffles Holdings shares.  Now that it is down to $0.06 (which is the agreed exit price), should I sell off now?  Or will it be done automatically for me?

Please advise.

Thank you.

Jeremy Chan

 

Hi, can anyone advise me again why people still buy at 6c when $60 is the exit offer ?? Don't make sense to me!

 

tks shplayer for answering my query! Cheerz!

 

chipchip66,

At 75.5 cts, ppl can still make some money.



Assume buy 20 lots at 0.755 - online trade cost is $15,152.74.

Upon redemption of cap reduction, div, sh buyback....will receive 15,200.00.

Net profit....$47.26....approx 0.3%....so, if invest for less than 1 month, still ok...if more than one mth, get more int from FD......is it worth it????....capital tied up.....opportunity cost for other counters etc.....

 

I am surprised people still go in to buy at 75.5c when 76c is the total delist price. Can peopple still make money out of the half cent??

 

Bcos RH has sold all its hotels so SGX says unless they acquire a new business or else they will have to close shop. CapitaLands being the biggest shareholder has agreed to delist it.

 

can someone explain to me why Capitaland want to delist RH? A little lost here.... didn't follow the saga.

 

Finally RH will be delisted at 76c. So, maybe tomorrow will see it go up the most to 74.5c. No more story liao!!

 

Sunday October 1, 8:31 PM

CapitaLand to pay S$0.06 a share to delist Raffles SINGAPORE, Oct 1 (Reuters) - CapitaLand , Southeast Asia's biggest developer, said on Sunday it would pay S$0.06 per share in cash to shareholders of its subsidiary Raffles Holdings to delist the company. The offer, which would value Raffles Holdings at S$128.1 million ($80.7 million), is in addition to the S$0.70 per share that Raffles Holdings expects to pay its shareholders on October 17, the two companies said in a joint statement. Raffles Holdings, former owner of Singapore's landmark Raffles Hotel, had said it will not invest in new businesses after selling Raffles City mall in March and its core hotels and resorts business in July last year.

 

Yes, it's paying $0.70 a share on or about 17 Oct. It is seeking to delist. Upon approval, shareholders will get a $0.06 exit offer.

 

Yup, but support level is 70c of course.......

 

I think this one may go down some more... not the end of it.

 

today hit a low of $0.725 before closing at 73c.

 

Ya, the price is well supported at 73c so there must be something interesting coming up!  

 

It announced book closure date (Oct 9) and its price ran up to $0.76, before closing at $0.73. It has committed to paying "up to" $0.70 per share. Any "extra" will only be determined after all the expenses to be incurred in liquidating the company. With 2,131.64m shares outstanding, every cent translates to $21.3m



None of the insiders has sold any shares, after exercising those options in the YTD, totalling 4,625,671 at $0.32.



The chase to a high of $0.76 reflects 2 possibilities - the residual value is a lot more significant than thought or it could be used as a backdoor listing by way of RTO.