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sohguanh, for your information, if I sell my 43,000 Amtek through my broker, there will be a brokerage of $131.24, clearing fee $18.74, SGX fee 43.52, 5%gGST $7.68 ( total =$161.18) Direct to CVC, I'll have to pay handling charges to my broker.
sohguanh, no need to pay brokerage charges but you may have to pay some handling charges. The problem will be the delay in payment by the buyer. You may ask your broker such things.
When the CVC buy back from us at $1.10 do we still have to pay the sell transaction brokerage charges? If need pay then may as well sell off ourselves. If no need pay then wait for them to send the form can save on $25++ correct?
This means the bidder (CVC) is obliged to buy from u @ 1.10 (ie unconditional) but at this moment, you r not 'forced' to sell until CVC reach 90% holdings when they can take Amtek private (ie delist).
New announcement of Mandaory Unconditional as the Offeror has obtained 54% of total shares. Does that mean all we small shareholders are now FORCED to sell to the Offeror at their asking price? They will mail us the form to fill in and then submit?
Would be better IF CVC deal is called off....but because they've bought over 50%, offer is now UNconditional. More likely is: UP offer 'cos of low pickup or announcing other competing bids...
Maybe to increase the price !!!
CVC to call off acquisition..................
TRADING HALT (5 Jun) !
http://info.sgx.com/webcorannc.nsf/ef3ba6cb188613ea482571b2003641d3/7c4051156c2fc4df482572f0007fee3e?OpenDocument
Deloittes hv been appointed as Independent financial adviser, but is merely a mouthpiece of the majority shareholders - of no use to us.
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_6D90CAF6FECDF322482572E90042C654/$file/AppointmentOfIFA.pdf?openelement
Today CVC bought about 3.6m average is 1.099. Still far less than it needs to meet.
I hold within this week before their deadline. haha
I think today last min buy-in @ $1.10 with high volume of 1.8m shares.
CVC getting desperate?
Very quiet. But up a cent to 1.10. I believe no more sellers left @ 1.09 after today.
| Last | Trades | Volume | BuyVol | Mid | SellVol |
| 1.090 | 55 | 736,000 | 700,000 | 0 | 36,000 |
| 1.100 | 6 | 3,602,000 | 0 | 0 | 3,602,000 |
| TOTAL | 61 | 4,338,000 | 700,000 | 0 | 3,638,000 |
hope for white knight.
keep your fingers crossed!
Rather disappointing, nobody pushing it today. I'm confused whether to hold on or sell n move on.! The scenario here is similar to First Engineering Ltd, whereby the latter's acceptance was only 85%. Difference is that Amtek is even worse, 56.9% as of yesterday. Obviously CVC will not be able to secure the 90% mark to take it private. But what's going to happen after, will it fall below $1.10 if CVC did not continue supporting it after offer closed. Though I believe CVC is intent to take it private so that they can stripped its assets and sell it piecemeals to others at higher prices later on. Any views to share?
CVC Group already secured 56.9% of Amtek as at yesterday.
Today volume for Amtek is only 965 lots, so assuming they are the only buyer for this entire volume, what they secured is definitely less than 58%.
Next week has only 4 working days, how much more can they secure? Whoever wanted to sell has already sold off during the last 2-3 days.
Let's wait for the drama to unfold.
Let's lion open big mouth and ask the company who wanna buy Amtek to DOUBLE their bid and we see how. Maybe that will attract sellers hahahah
at the rate they are going, unlikely to hit 90% by 4Jun
cannot even reach 60% now since no >5% shareholders pledge to sell to them
goes to show how misery the price is !
Ya not many sellers left @ 1.10. Most of the contrarians already exit. Up to 24 May, CVC Group secured ONLY 56.9% of Amtek, so unlikely to reach the min. 90% mark to take it private. They only pick up another 300 lots in morning trade so far.
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_AE02848067395281482572E6000E2213/$file/DealingDisclosure_post25May2007.pdf?openelement
practically no seller at $1.10?
what does that imply?