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Sorry I didn't make it clear. If the GO succeeds in acquiring at least 90% of the shares, 3 scenarios:
1. If Fincantieri wants counter to remain listed, it can do a share placement to increase the public float to more than 10%. In this case, trading as per normal (ie no suspension, trading halt etc)
2. Fincantieri can compulsorily acquire remaining shares at offer price ($1.22). Means you bo bian have to sell to them at that price even if you rejected their GO.
3. If it doesn't, remaining shareholders can force it to buy out their shares at $1.22.
In other words, worst case scenario = forced to sell your shares at $1.22. So you don't need to worry your shares will be caught in a limbo. Hope this helps.
s100125 ( Date: 20-Feb-2013 21:51) Posted:
my fear is that it will be suspended from trading when the offer closed.
suspended for how long also nobody know.
best option is to play safe and pull out. |
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Yes, in playing stocks, the most scary thing is to have a counter suspended or halted indefinitely.
Playing by the counter's chart, the sky is the limit for it to go, ie. great potential gains are possible.
Let's see how this counter plays out eventually...I am sure many should be "
Huat Aaaaarh!!!"
[
This is a neutral post (ie. NOT talking down the stock in any way)]
GorgeousOng ( Date: 20-Feb-2013 22:03) Posted:
Agree with you. I will still in the game but will not "MAU ". I do not want to miss my sampan.:))
s100125 ( Date: 20-Feb-2013 21:51) Posted:
my fear is that it will be suspended from trading when the offer closed.
suspended for how long also nobody know.
best option is to play safe and pull out. |
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With Fincantieri as a kao shan, More prospective clients will have even more confidence to award more of their multi-million dollars contracts to STX OSV from now onwards.
STXOSV $1.555 COME M
NEY COME
STX OSV has broken-out of the 20/50 SMA with huge volume. Strong trend reversal. It should be closing the 1.375 gap soon.
This circular by Ernst & Young should be issued soon: Appointment of Independent Financial Adviser The Board of Directors (the " Board" ) of the Company refers to the announcement made on
23 January 2013 (the " Offer Announcement" ) by Credit Suisse (Singapore) Limited and
Nomura Singapore Limited, for and on behalf of Fincantieri Oil & Gas S.p.A. (the " Offeror" ), a
direct wholly-owned subsidiary of Fincantieri – Cantieri Navali Italiani S.p.A., in relation to the
mandatory unconditional cash offer (the " Offer" ) by the Offeror to acquire all the issued
ordinary shares (" Shares" ) in the capital of the Company, other than those already owned,
controlled or agreed to be acquired by the Offeror, its related corporations and their
respective nominees.
The Board wishes to inform shareholders of the Company (" Shareholders" ) that it has on
28 January 2013 appointed Ernst & Young Corporate Finance Pte. Ltd. (the " IFA" ) as the
independent financial adviser to advise the Directors of the Company who are considered
independent for the purposes of the Offer (the " Independent Directors" ).
A circular containing, inter alia, the advice of the IFA and the recommendation of the
Independent Directors in relation to the Offer (the " Circular" ) will be sent to Shareholders in
due course.
In the meantime, Shareholders are advised to exercise caution when dealing in their
Shares and to refrain from taking any action in relation to their Shares which may be
prejudicial to their interests until they or their advisers have considered the
information and the recommendations of the Independent Directors as well as the
advice of the IFA set out in the Circular to be issued in due course.
Expect it to be favourable to the minority shareholders!
Agree with you. I will still in the game but will not "MAU ". I do not want to miss my sampan.:))
s100125 ( Date: 20-Feb-2013 21:51) Posted:
my fear is that it will be suspended from trading when the offer closed.
suspended for how long also nobody know.
best option is to play safe and pull out. |
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my fear is that it will be suspended from trading when the offer closed.
suspended for how long also nobody know.
best option is to play safe and pull out.
This stock shows clearly that it is no use to know about any news/fundamentals happening.
By just relying on the chart alone, money can be made.
Knowing about corporate actions, etc is in fact a liability to a trader.
GorgeousOng ( Date: 20-Feb-2013 21:03) Posted:
Which can mean we still can "play"...my advisor says it is not likely to go up to $1.70 in near term but $1.40 by end feb is possible.
iPunter ( Date: 20-Feb-2013 20:42) Posted:
Which can mean that the upside is limitless... thanks for the enlightenment...  |
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Which can mean we still can "play"...my advisor says it is not likely to go up to $1.70 in near term but $1.40 by end feb is possible.
iPunter ( Date: 20-Feb-2013 20:42) Posted:
Which can mean that the upside is limitless... thanks for the enlightenment...
prolix ( Date: 20-Feb-2013 20:08) Posted:
| I'm no shifu but Fincantieri will need to acquire at least 90% of the shares through the GO before they can delist the counter. If they dont, stx osv will remain listed like it is now. I think Fincantieri can do another GO but must wait at least one year i think. |
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Which can mean that the upside is limitless... thanks for the enlightenment...
prolix ( Date: 20-Feb-2013 20:08) Posted:
| I'm no shifu but Fincantieri will need to acquire at least 90% of the shares through the GO before they can delist the counter. If they dont, stx osv will remain listed like it is now. I think Fincantieri can do another GO but must wait at least one year i think. |
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I'm no shifu but Fincantieri will need to acquire at least 90% of the shares through the GO before they can delist the counter. If they dont, stx osv will remain listed like it is now. I think Fincantieri can do another GO but must wait at least one year i think.
Assuming the stock is ramped up tp $1.70 or above at the expiry of the general offer,
what are the options open Fincantieri before a delisting? Any fundamental sifus?
Hahaaa ! Come aeroplane come! Come yacht come! Come sampan come! $$$come come come!!!!
Octavia ( Date: 20-Feb-2013 17:03) Posted:
| basing on the pattern i think it will continue uptrend tmor. |
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basing on the pattern i think it will continue uptrend tmor.
Still holding well. No risk no return. Good luck all.
bishan22 ( Date: 19-Feb-2013 18:17) Posted:
Agreed. A good strong indicators. Dont miss this boat hor. Good luck. 
Peter_Pan ( Date: 19-Feb-2013 17:06) Posted:
| Good breakout volume today. Will be a good week for STX OSV. |
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Hope is not pump and dump action
luvkarena ( Date: 20-Feb-2013 15:46) Posted:
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Is this a good thing or bad? It seems like it's bad, why do some people thing it's a good thing?
luvkarena ( Date: 20-Feb-2013 15:32) Posted:
| OZ hedge fund kept unloading everyday and today got quite a no of married trade. There might be some bbs accumulating the shares. Hopefully it will announce bb like tamesek holding buying the shares.... :) |
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Coming!!!!!!!!!!!!
STX OSV
Three New Orders Cut EPS, TP on Low 2012 Wins
STX OSV secured three new orders for offshore subsea construction vessels with
an estimated value of NOK2.4bn (USD433m). We view the new orders positively as
the vessels are based on STX OSV’s designs and margins on these orders could
surprise on the upside. However, we lower FY13-14F EPS by 4.5% and 8.7%
respectively as 2012 new order win of NOK9.5bn was lower than our estimate of
NOK12bn. Consequently, we lower our TP from SGD2.05 to SGD1.96. Our TP is
based on 12x FY13F P/E. We believe minority shareholders should not accept the
cash General Offer from Fincantieri at SGD1.22/share as we think the offer
undervalues the stock.
Secured three OSCV orders valued at around NOK2.4bn. STX OSV secured three new
orders: i) one offshore subsea construction vessel (OSCV) (overall length of 121m and
beam of 23m) for Solstad Offshore for NOK600m (USD108m) to be delivered in 2Q2014.
The vessel will be based on STX OSV’s OSCV 03 design ii) one OSCV (overall length of
143m and beam of 25m) for Farstad Shipping for NOK800m (USD144m) to be delivered in
1Q2015. The vessel will be of STX OSV’s OSCV 07 design iii) one OSCV (overall length
of 161m and beam of 32m) for DOF Subsea to be delivered in 1Q2015. Value of this
contract was not disclosed. The vessel will be based on STX OSV’s OSCV 12 design. We
estimate the DOF order to be worth NOK1bn (USD180m).
New orders lifted unbilled order book to NOK20.1bn. As of end 3Q12, STX OSV has
an order book of NOK16.4bn. Since then, the company has secured NOK3.7bn new orders
for five offshore subsea construction vessels, lifting its unbilled order book to NOK20.1bn.
Earnings: Cut FY13-14 EPS by 4.5-8.7% on lower FY12 order win. We lower FY12 EPS
by 4.5% and FY14 EPS by 8.7% as 2012 new order win of NOK9.5bn was below our
estimate of NOK12bn. We also lower FY13 new order win from NOK15bn to NOK12bn.
We are expecting blended EBITDA margin of 12.7% in FY13.
Valuation: We cut our TP from SGD2.05 to SGD1.96 after we revised down our FY13F
EPS. Our TP is based on 12x FY13F P/E, 25% discount to our target P/E for rig builders,
and implies 58% upside from its last closing price. Key risks to our view are: i) successful
privatization by Fincantieri ii) slowdown in new orders and iii) project execution risk.
Maintain Buy: Target SGD1.96
OSK-DMG
