dumb8888TheContrarian, with such high NTA why are the minority so willing to settle with 85.5 cent? Ltat con job with minorities shareholders.
07/04/2023 10:30 AM
belugadid you guys receive a phone call from Boardroom Share? They called me asking if I want to take up the offer.
07/04/2023 1:12 PM
dumb8888Maybank investment whatapp me giving dateline to reply by 20th May 4pm. Still praying for higher offer price
07/04/2023 3:10 PM
TattooAgreed to dumb888, almost 50% discount on NTA, better wind up and liquidate the company, then distribute the NTA to shareholders.
07/04/2023 4:25 PM
JohnzhangAs at 3rd April , LTAT owns 74.3% only . The chance to secure at least 90% control looks very challenging. There is still about 540 mil shares in minority hands . Assuming LTAT has to revise the offer to $1.00 that will cost LTAT another $78 mil only . You think LTAT will give up the privatization because of additional $78 mil ? Minorities who have sold in open market will not be entitled to any price revision.
08/04/2023 10:08 AM
Johnzhang@beluga, I guess LTAT is trying to feel if they will achieve at least 90% .
08/04/2023 10:12 AM
JohnzhangMost minority shareholders who were willing to accept the offer would have sold in open market at the same price instead of holding out . I guess the remaining are not easily giving in without a ‘fight’. Just my view
08/04/2023 10:19 AM
JohnzhangAfter settling Boustead (hopefully at higher price), direct my fund to Bplant. I think quicker asset monetisation activities will happen in Bplant satisfying LTAT’s objective of realizing higher shareholder’s value and generating cash which are needed for paring high debts in LTAT and Boustead holdings. LTAT will effectively control 68% Bplant after Bstead privatization ( 10.6% LTAT + 57.4% thru boustead holdings). Generous dividend payout from Bplant is expect to ease LTAT and boustead debts burden. Just my view
08/04/2023 10:35 AM
dumb8888Hi Johnzhang, I intend to wait till the last moment before making any accepting offer at 85.5. Do you mind sharing with me where is the link that would show me the latest shareholding % by ltat so I can know my position better? Tqvm
08/04/2023 4:32 PM
Johnzhang Dumb8888, you may go to below link to Bursa Malaysia website . There is daily update .
chin5675what will be happen if not take up the offer?
11/04/2023 4:13 PM
JohnzhangPosting date is 23 March 1st closing date is 22 May ie 60 days from posting date. Revise offer ， if any , to be declared by 8 May ie 46 days from posting date .
12/04/2023 10:18 AM
JohnzhangIf you don’t need the cash No hurry to sell or accept the offer before 8 May. Just hold out until then to see what happens. Just my view
12/04/2023 10:20 AM
dumb8888Hmmmm.....today higher than offer price. There is a sign of urgency from ltat?
Lester TeowI think it reacted to this news: LTAT sells 112.56 million shares in Affin Bank to Sarawak state entity https://www.thestar.com.my/business/business-news/2023/04/13/ltat-sells-11256-million-shares-in-affin-bank-to-sarawak-state-entity
14/04/2023 11:37 AM
JohnzhangAs at 11 April, LTAT only secures about 75% from open market purchases and from the acceptance . Judging from today’s price movement and the very low sell orders above 85.5 sen, LTAT shall face uphill task to get 90% by the closing date . LTAT better listen to all the remaining minority, especially the corporate shareholders to close the price expectation gap. Book value of boustead is about $1.60. Realizable value of all the assets is much higher than $1.60. It is palatable for LTAT to even consider $1.20 as their gain will eventually be very huge and it doesn’t cost LTAT a bomb to up the offer for the remaining 25%.
14/04/2023 12:57 PM
Lester TeowSure they will raise the offer, but not now. They will take the chance to buy as much as they can.
Fairness of the Offer We are of the view that the Offer is NOT FAIR as the Offer Price of RM0.855 represents a discount of RM0.708 and RM0.896 or approximately 45.30% to 51.17% over the estimated value per BHB Share ranging between RM1.563 and RM1.751 derived using the SOPV methodology.
18/04/2023 8:42 AM
dumb8888Dateline to accept coming closer but still no sign of any counteroffer. Haiz....
08/05/2023 2:40 PM
markchanwhen is the last day to sell? After take over the share still be there right?
JohnzhangLook out for the announcement that the takeover offer being declared unconditional. After the offer being declared unconditional, we still have at least 14 days to accept the takeover offer . Do you own analysis and make your own decision.
15/05/2023 9:24 PM
rohank71look like LTAT can't get 90%. better pile up as it can be another FGV. don't meet public spread and price fly high.
15/05/2023 11:44 PM
rohank71or drop first and than bounce... acceptance is too low.
15/05/2023 11:47 PM
TheContrarianRead that LTAT has crossed 90% and will be delisted.
18/05/2023 9:50 AM
proudbeggarThat means that they can compulsorily aquire the balance 10 % dissenting shareholders. Those who still hold Bstead shares now no need to do anything. https://www.nst.com.my/business/2023/05/910546/ltat-firmly-track-privatise-boustead-now-owns-over-90pct-stake
18/05/2023 10:15 AM
proudbeggarNote that the offer has not yet become unconditional ( still conditional on the approval by regulatory authorities ). But very slim possibility that the whole offer could be withdrawn.
18/05/2023 11:00 AM
KensingtonThere are 2 very important dates we have to keep in mind, i.e. (i) 12 June 2023 the date on which the Offeror must fulfil the BNM Conditions, otherwise the Offer will lapse and (ii) 26 June 2023 on which the Offer will remain open if the BNM Conditions are fulfilled after the First Closing Date 22 May 2023. Of course there is a real risk that if the Offer will lapse then the market price of 85.5 sen per share cannot be sustained.
Lester TeowI am not going to sell, LTAT need Boustead to pay dividend then LTAT can pay their members every year. So i will maintain as Boustead shareholder as LTAT to receive dividend every year. Other company may have risk, but Boustead is bonded to pay dividend to LTAT
24/05/2023 8:21 AM
Lester TeowIF you need your money then sell, because this money will be locked until they offer u to sell again
24/05/2023 8:24 AM
proudbeggarNot sure if the 90 % compulsory acquisition rule applies to total number of shares in the company OR 90% of shares not held by LTAT at the time of offer ( which is 40 % or 27.2% ?)
24/05/2023 9:37 AM
Lester TeowNow definitely will be delisted, you can't sell after that, think twice if you wanna hold
24/05/2023 10:16 AM
Lester Teowthere will be no higher offer price since alr exceeded 90%
proudbeggarSUSPENSION OF TRADING BOUSTEAD HOLDINGS BERHAD Kindly be advised that trading in the securities relating to Boustead Holdings Berhad will be suspended with effect from 9.00 a.m., Tuesday, 20 June 2023, pursuant to Paragraph 16.02(3) of the Main Market Listing Requirements
ThinkerbellThe offer price 0.855 was 33% below NTA of 1.28. Initially they called a few times asking if I wanted to sell which I said “No not selling”. Yes it was snatched away and they just deposited the amount into my bank account yesterday. When I first saw the amount in the bank account I was surprised and when I login to check it was humorously stated as “Dividend payment Boustead Holdings”.
