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There's potential for more upside to this stock.
I bought it at 36.5 cents. Should I take profit or wait for the general offer ? May I have your views please.
It climbed yesterday on hopes the voice-over-Internet company will succeed in securing another 0.8% stake in PacNet which will trigger an unconditional general offer for all shares in the Internet service provider.
MediaRing seems pretty determined about the acquisition of PacNet. There's a likelihood that MediaRing will make the offer soon, although PacNet can always reject it again.
M.Ring will have to wait..1yr unless they applied to change d rules, maybe can ask Vantage rep this Q??, or isit Vantage or Vantage friends turn to buy so that they can oso ask for two more board seat.
Very power today...
Price shot up today. Any special reason ?
Ai Ai Sir Which direction Sir this is ship is going???@#$%^&*()
Fighting on board ship, i don think this ship can set it direction on d high sea at this moment. rocking ahead Ahoe....
Latest news....MR owns 29.3% of PacNet....believes it is the largest shareholder of PN....request for 2 board seats....board reps are Koh Boon Hwee and Khaw Keng Joo.
PN will now have very little reason to deny MR the board seats....since Vantage holds 2 seats.
Now, Vantage chances of relisting on SGX is further diminished.
This is getting interesting.
Under US takeover laws, MediaRing can't mount another bid until 12 months later.
NEWS FROM SGX :ACQUISITION OF SHARES RESULTING IN PACIFIC INTERNET LIMITED BECOMING AN ASSOCIATED COMPANY .
Things should be heating up for Mediaring...now that PacNet(a company listed on Nasdaq National Market) is an associated company of Mediaring...
Hi guys,whats the take on this counter?Looks like it is taking a breather at $0.33 after when it went up from $0.315 to high of $0.35 on news that mediaring is requesting for 2 board seats after upping stake to about 29.5%(just a whisker below 30%).....
Expecting two more into Dir-ship, bring to a total of at least eight on board. Expecting at least half a million to a million less on profit for Pac-net which mean base on a high side on profit, say 10 % more (internet, VOIP and cross over business), it new Dir, it is expected to bring in at least another 100 milliom $$$ in new business, as usual they will be some staff casuallties, some retrench and some change in manageing senior staff and a change in business policy. Let see.
At least two board seat for M.Ring, then they can expect some Dir to hand in resignation letter liao.
Board battle coming so soon , but take over business will have to wait for many months to come. When big boys fight, small boys suffer.
I think this MediaRing/Pacnet story is far form over. MR has a strong management team lead by non other than Koh Boon Hwee. I am sure he has many other strategies up his sleeves which will play out sooner or later.
However, I do sympathise with the long suffering holders of Vantage shares......should MR succeed in getting 2 board seats, it may affect the chances for Vantage to relist on the SGX. On hindsight, they should have accepted the takeover battle offer by Vantage's major shareholders and Simon Cheong last year.
After the failed takeover bid for PacNet, MediaRing has increased its stake in the firm to 26%. Now, MediaRing wants 2 seats on PacNet's board. Vantage already has 2 seats.
Lee Pineapple Company has been steadily increasing its stake. It's now a major shareholder with a 8.75% stake. Lee Pineapple Company is deemed to be interested in the shares held by Paramount Assets Investments, its wholly owned subsidiary.
Why is a food company buying a stake in a tech company? Where's the synergy? Is Paramount Assets set up just to buy Mediaring shares? Or are they holding stakes in other tech companies too?
The rights reached 16.5cts and Mediaring appears to be rebounding.
I guess that the rights will fall to around 16cts and the mother share will fall correspondingly.