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Ha ha, after A-V-3.
Nonetheless, hv or no hv, any belated @$ also jadi loh, esp for those who alrdy got their paid stock $$$.
On d otherhand, though CO is on up trend, whether d minority share owners, eventually will get the benefited or not? A million $ question again??
ViperSTI ( Date: 31-Jul-2009 09:20) Posted:
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shplayer ( Date: 29-Jul-2009 09:02) Posted:
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Ha ha, vol now is 52??? Q Buy 16k lots, at 6.23, who r they, dun know.
Unlike CK Tang, d regulators supported Tang management to hv dialogue with d small grp shareholders on their gervences on low offer px for privatisation.
As for SPC,so far the offered px seemed reasonable n no one appeal on any public media on d objection. Basically, if ChinaOil hold d major stakes, d ball is at their court liao. D smaller investor, =/>10% hv no triumph card loh. Things can happen one, in d complex stock market trading, no elaboration is required one.
Above r solely AK views, just for sharing, no calling.
christinakohyc ( Date: 30-Jul-2009 11:35) Posted:
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Any advice whether we should accept the tender offer for SPC at $6.25 or we should keep the shares or sold at market
senecus ( Date: 29-Jul 01:09) Posted:
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Will a higher price will be offered...???
shplayer ( Date: 27-Jul-2009 15:24) Posted:
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AK,
The doc dispatched o 24 July is the independant director's recommendation to minorities. Offer doc was sent out on 10 July.
In the doc of 24 July, offer is extended to 21 Aug.
FYI
AK_Francis ( Date: 26-Jul-2009 13:14) Posted:
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The latest offered doc should reach sh holder on 24 Jul 09. The offer closing date is 5.30pm, 2 days before National Day. AK rcv it before 24 n $ alrdy banked into my bank acc by CDP on 23 Jul liao.
Counter check your CDP security account on d free holding of d SPC share, and subsequently consult your stockbroker or bank manager(for CPFIS).
alanwong12345 ( Date: 26-Jul-2009 10:03) Posted:
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Offer documents were dispatched on 10 July.
You should have received the documents by now.
If your SPC shares are under your CPF Investment account(CPFIA), then the bank which you have your CPFIA will send you a letter.
In both cases, all you need to do is fill in the relevant instructions (to accept/reject), sign and mail it back to them.
If you have not received it, then suggsts you call the secretariat (Boardroom Corp....contact can be found in the above doc link) or your CPFIA bank. Closing date of the offer is 5.30 pm 21 Aug09.
Alternatively, you can sell on the open market........but, at current price, here is a discount to the offer price and you will incur brokerage charges.
alanwong12345 ( Date: 26-Jul-2009 10:03) Posted:
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hi guys..thanks for the feedback..i guess i will most probably follow suit...do you think the market rally will continue? is it wise to enter the market now to acquire stocks?
thanks
AK_Francis ( Date: 24-Jul-2009 00:37) Posted:
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Hopes that is d blessing. CDP had banked in my sold SPC $ into my bank acc on 23 Jul liao.
Listen to d sifus, will peow some penny stocks n keep them till DJ hits 10,000????
At the offer price of $6.25, it is a fwd P/E of approx 15X and 82% premium to NAV of $3.43.
Under Keppel, SPC used to pay out generous divident....but in its recent H1 report, Petrochina is not paying interim div (1H08 - 20c).
New owners may have different outlook on how they treat minorities......so, you need to ask yourself, with the new owners, do they still meet up to your investment criteria when you bought the stock?
For me, I have always avoided China stocks........due to lack of transparancy and 'funny' business........there has been so many cases of fraud, cheating, misrepresentation of a/c....that its just not worth the risk....starting with CAO.....and many recent cases. With change of ownership, SPC is now a China stock.......whilst Petrochina is a brand name China stock, it is still a China company.
For me, I am taking this opportunity to exit.......but I may revisit it again if SPC (under its new owners) shows evidence of meeting my investment criteria again.