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Amtek Engineering

Mandatory Conditional Cash Offer   @1.10 by Metcomp Group Holdings

 

1.

Date of change of Interest

21-05-2007

2.

Name of Registered Holder

-

3.	Circumstance(s) giving rise to the interest or change in interest	# Others
	# Please specify details	Deemed interest by virtue of being associated with CVC Capital Partners Asia Pacific II Parallel Fund - A, L.P. and CVC Capital Partners Asia Pacific II L.P. Under Section 7 of the Companies Act, Metcomp Holdings is deemed interested in all the shares in Amtek Engineering Ltd in which Metcomp Group Holdings has an interest.

4.	Information relating to shares held in the name of the Registered Holder
	No. of Shares held before the change 0   As a percentage of issued share capital 0 %   No. of Shares which are subject of this notice 135,007,230   As a percentage of issued share capital 28.81 %   Amount of consideration (excluding brokerage and stamp duties) per share paid or received 1.10     No. of Shares held after the change 135,007,230   As a percentage of issued share capital 28.81 %

 

Hi 

All the documents were lodged & details are shown on SGX website liao!

 

 

Hi Lucky168,

Hope you are right. There is still no detailed official announcement yet, But I heard the news (FM93.8) quite differently & was shocked. What I heard is this, Metcomp is a subsidiary of the private equity group (CVC Partners) and they have acquired from former chairman & executive directors of Amtek total of 28.81%. If this is true, SGX must investigate this matter seriously. Why these insders sold out at 1.10 when there are competing bids underway (as due diligence couldn't be finished so fast). The fomer chairman was charged for insider trading before and barred from Board sits (that's why "former" chairman, forced to resign then). If he don't come clean, he may go to jail. eg. Who can stop one from selling at low price to enable bidder to mount a cheap takeover and then receive under-table money elsewhere.

 

I think many are confused over the new development. But this is what I interpret personally.

1) Major shareholder Metcomp had sold 28.8% to CVC @$1.10 as per announced this morning.

2) I think the above was a different issue from what was announcement by Amtek previously. To recap, two parties had approached the Amtek board of directors directly indicating the interest in Amtek, & they are still conducting their due diligence on the company. My take is therefore their miniumum offer must exceed $1.10 to make it attractive to the board.

Any comments welcome.

 

 

Disappointing new, at $1.10 it's too low, don't sell. It doesn't make sense that the executive director & former chairman sold to CVC Capital Partners at this price ($1.10), especially when they announced earlier there were competing bids. Very puzzling! This is NOT a general offer as yet (30% trigger point not reached yet). If the general offer is $1.10, it will fail.!

 http://info.sgx.com/webcorannc.nsf/ef3ba6cb188613ea482571b2003641d3/c0ce3ecf043f817d482572e3000e8d36?OpenDocument

 

I agree.  The directors still holding on to their shares.  Possible to have a bidding war??

 

price will hover ard $1.10, but if you can recall, there are more than one party interested in Amtek.

Premium? I reckon so!

 

Price expected to move to $1.20 when trading resume. Then, towards $1.50

 

sohguanh ,

$1.10 is just a guide line for us to buy and if u wanna to ask for $1.30 or $1.40, u might accumulate all from the market the reminders of shares........then make a general offer lah........I sure will vest and support u.....Cheers!

 

Is $1.10 a fair value? I was thinking it could go on towards $1.30 - $1.50

 

Metcomp Group Holdings has entered into conditional sale and purchase agreements with existing shareholders of Amtek Engineering Ltd for off-market acquisition of an aggregate of 135,007,230 shares (28.81%) @ $1.10 in Amtek Engineering Ltd.  

 

i think this time the buyer is serious . otherwise who dare to ask sgx to halt the trading. 

positive news coming . can't wait to know the results...... 

 

WOW! hanwudi, this giving me lots of confidence.  Thanks. Good to have you around. So too, tuntan8888 and lucky168.

 

Metcomp, based in Germany, is part of Europe?s largest distributor of semiconductor and computer products, serving both the industrial and telecom markets. Seems attractive deal.

 

Yeah but never judge a book by its cover. I tried googling Metcomp and didn't have any luck finding out more about this guy. We'll just have to wait and see

 

Does this name ring a bell, METCOMP S PTE LTD?. Doesn't sound like a buyer, but never judge a book by its color. Cheers to everyone.!

http://info.sgx.com/webcorannc.nsf/ef3ba6cb188613ea482571b2003641d3/1e1ca610f39e9732482572e200803cce?OpenDocument

 

Ladies and Gentlemen, we have a TRADING HALT NOW. Keep glued to the screen and your seat.

 

lucky168, thanks.  Hope we all as lucky as your name and look forward to $1.50!!

 

Head today afternoon on the radio, that they posted good results for th last quater.  Anyone can confirm.  This may push the price higher.