SembKim   

TOLL offers to take over Semb Kimtrans

Hi ajithm, you meant they credited directly into bank account that you have stated in the CDP and not given cheque. If that is the case, i need to check my bank acct. Thks.

 

I had the money credited to my account two days back.   Perhaps, your cheque is in the mail.

 

The CDP inform us that the cheque for the compulsory aquisition of SembKim by Deusche Bank AG for and on behalf of Toll Express will be sent by post on 24/10/2007. It is already 1 week and we have not received the cheque. Whom do you approach regarding that we have not received the cheque ?

 

Anyone know when will they pay for the aquisition ? It is already more than a month.

 

The latest acceptance is now 90.66%! Over 90% mark triggers the compulsary delisting. Question is must we still submit the form to CDP? Or just hang on for further annoucement by Toll?

 

Toll advertised in today's ST Home Pg H18 that it has received 88.91% acceptance. According to the offer booklet, it will pay 80c per share if 90% accept by 5 pm31 Aug 2007, otherwise it will pay only 70c.

 

I felt that the offer will not go through on Aug 13. Toll will then either offer higher or extend the date line.

 

Who is Express Asia? Maybe they are the 'accelerating' agent for ensuring the takeover as a success. Certainly, I do hope they succeed.

 

Express Asia said they rep Toll, and they phone me today to enquire whether I had received the form. If not they would like to send to me again. Can anyone interpret their actions ?

 

I dont think Toll is allowed to buy any stock from the open market at price higher than $0.70. Pls correct if I am wrong.

 

If one buy at 78 cents and TOLL managed to obtain 90% acceptance, then still can make money 2 cents (and dont have to pay commission/brokerage charges).  Maybe TOLL is the one buying up the shares as it is still cheaper than for them to buy back at 80cents...Just my opinion.

 

Maybe Toll is buying. They sound very desparate in their prospectus.. using scare tactics like "S Kimtrans has never traded higher than 80c".

 

The problem is I certainly do not want to end up selling at 70c (when they could not achieve 90%) and I won't know if they are close. I rather sell in the market for a sure 78c then an uncertain 80c.

 

Wah, still got buy up @78 cents.

 

Quotes Toll offers to take over Semb Kimtrans

Australia's top transport group Toll Holdings has launched a takeover offer for all the remaining shares it doesn't own in mainboard-listed Sembawang Kimtrans. Toll already owns a 26 percent stake in the Singapore logistics services firm. The Australian firm is expected to seek a delisting of Sembawang Kimtrans if it succeeds in acquiring at least a 90 percent stake. Toll is offering to pay 70 cents for all remaining shares in Sembawang Kimtrans, or slightly lower than than the counter's closing price of  71 cents yesterday. But if Toll gets control of at least 90 percent, it will raise the price to 80 cents a share. This will value Sembawang Kimtrans at as much as 326 million dollars.