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F&N

sg225551
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02-Apr-2013 15:56

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http://www.channelnewsasia.com/news/business/f-n-receives-notice-to-make-clear-intent/623602.html

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raymondlimtt
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02-Apr-2013 15:23

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Yells: "raymond"

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Oh gosh...infancy bird.... May I know which link u find this news ?

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equity
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02-Apr-2013 12:37

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Thanks for the reply, infancybird. Do you know whether it is possible (legal) that TCC will be allowed to delist F& N and leave the minority shareholders stuck with holding shares of a private company at their discretion or perhaps at best, only offer to buy out their shares at a price LOWER than the Offer price of $9.43?

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infancybird
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02-Apr-2013 09:37

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News in today:...

Fraser and Neave said it has been required by the SGX to inform shareholders about whether it intends to maintain its listing status by April 18 2013.

If it does not make its intention clear by that time, SGX said it will convert the trading halt of the company’s shares into a trading suspension with effect from April 19 2013.

F& N said the company is considering its options with respect to its listing status and will make an appropriate announcement in due course.

The best result is tCC split and sell all their assets and that will give themselve and all the remaining share holders big gain, may be will worth more than $11.00 . so wait till 18th April for good news. Start buying thaibev for possible asset injection from TCC/FNN. Thaibev is the gem of the future.

equity ( Date: 02-Apr-2013 00:32) Posted:

Is TCC compelled to acquire the remaining minority shareholders' stake at its general offer's price? If not, what happens to the minority shareholders if F & N is delisted? Are we stuck? Any advice?

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equity
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02-Apr-2013 00:32

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Is TCC compelled to acquire the remaining minority shareholders' stake at its general offer's price? If not, what happens to the minority shareholders if F & N is delisted? Are we stuck? Any advice?

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zanetti
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19-Feb-2013 12:42

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thanks for the reply

infancybird ( Date: 19-Feb-2013 11:50) Posted:

not to worry, TCC will acquire the balance outstanding shares at its offered price of 9.43(minus dividend 12ct) within the next 3 months...do not sell in the open mkt as u will incur commision etc charges. Just wait for their extension of deadline date which must come out within 2 days .

zanetti ( Date: 19-Feb-2013 11:29) Posted:

any seniors can advise what will happen now if I am still holding on to F& N shares ?

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infancybird
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19-Feb-2013 11:50

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zanetti ( Date: 19-Feb-2013 11:29) Posted:

any seniors can advise what will happen now if I am still holding on to F& N shares ?

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zanetti
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19-Feb-2013 11:29

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any seniors can advise what will happen now if I am still holding on to F& N shares ?

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zanetti
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19-Feb-2013 11:26

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It now owns 1.3b F& N shares. According to a release, Thai Beverage announced that the mandatory cash offer for Fraser & Neave Limited has closed as of 5.30pm (Singapore time) on 18 February 2013. Accordingly the F& N Offer is no longer open for acceptance and any acceptance received thereafter will be rejected.

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Flashstep
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07-Feb-2013 12:23

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As at 5.00 p.m. (Singapore time) on 6 February 2013, the total number of (a) F& N Shares owned, controlled or agreed to be acquired by the Offeror and parties acting in concert with it, and (b) valid acceptances to the F& N Offer, amount to an aggregate of 1,098,200,336 F& N Shares, representing approximately 76.19% of the issued share capital of the Company4.

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starlene
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05-Feb-2013 11:31

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Unlikley F& N will get delisted as not possible to get 90% with < 10% in public hands..will that apply to STXOSV that is artifically push down

starlene ( Date: 31-Jan-2013 19:54) Posted:

Paul Lee wrote:

I'm surprised that TS (obviously a seasoned trader) think he will get $9.55 + $1.20 dividend. Garlic & Butter is correct, the final amount paid to shareholders who accept TCC's offer will be reduced by the dividend paid.

Dun take my word for it. Read the offer document from TCC dated 13 Sep for yourself.

Para 2.2: If any dividend, other distribution or return of capital is declared, paid or made by the Company on or after the Offer Announcement Date, the Offeror reserves the right to reduce the Offer Price by the amount of such dividend, distribution or return of capital.

Offer announcement date: 13 Sep 12
Dividend announcement date: 16 Nov 12

One last thing: The offer has not gone unconditional. As of 28 Jan 13, only 46.13% of F& N shares has been tendered to TCC ( Source )

TCC need another 3.87% or 5,5578,840 shares to pushed it to the unconditional 50% by 4 Feb 2013. The offer will lapse if it does not become unconditional.

Considering how much TCC begin with and how much it garnered since, its not been a straightforward. So it remains to be seen that if the takeover will be a foregone conclusion.

Personally I hope the takeover fails (not vested)

Thanks for giving and sharing all yr valued opinion.Today Chaoren the thai billionaire has indicated in Biz Times he intends to keep F& N listed despite he has now slightly> 50% so unless he gets > 90% F& N will get privatised or delisted...which is unlikley...ok I agree as the offer document claimed $9.55 net off the $120 dividend but some American base investors recently garnered a significant stake of .$9,60 will it still be safe to go in at $9.55 or even $9,33(net of dividend 1 Feb) since if F& N remains listed it will definitely be > 9.55/9.33..I quote similar comments by someone in defend of STXOSV where the offer price of $1.22 is below mkt price of $1.27 or perceived valuation of a much higher value.

Haha.. Disclaimer is only the formality ... As I am not the stock analyst , not supposed to advise , I am giving my point of view . I have been benefited from a few occasions similar to this scenerio, whereby , offeror offered lower than market price and hope to garner more than 90% for delisting . Yet , finally , the stock is still listed in the market and sprung back to its fair value ...

One of the examples is Nera Tel, you could google it to find out yourself. Give yourself sometimes for it to come back to its fair value.

This counter has been in my watchlist , but have never go in until recent opportunity such as this arises....

I noticed it was fluctuating within a few cents . I am going in again if it drops further to my targeted/analysed price. And I will be going in big time.....

I quote someone from STX OSV made this comments..if applied to F& N will work??? Since Thai guy Chaoren has indicated he intends to keep F& N listed having offer.50% becomes unconditional,but unlikley he will get > 90% do F& N will remain listed and maybe price will soar from base $9.55...some american based investors have bought from > $9.60 a significant stakes will unlikley give in to the Thais..yr opinion plse

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starlene
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31-Jan-2013 19:54

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Paul Lee wrote:

I'm surprised that TS (obviously a seasoned trader) think he will get $9.55 + $1.20 dividend. Garlic & Butter is correct, the final amount paid to shareholders who accept TCC's offer will be reduced by the dividend paid.

Dun take my word for it. Read the offer document from TCC dated 13 Sep for yourself.

Para 2.2: If any dividend, other distribution or return of capital is declared, paid or made by the Company on or after the Offer Announcement Date, the Offeror reserves the right to reduce the Offer Price by the amount of such dividend, distribution or return of capital.

Offer announcement date: 13 Sep 12
Dividend announcement date: 16 Nov 12

One last thing: The offer has not gone unconditional. As of 28 Jan 13, only 46.13% of F& N shares has been tendered to TCC ( Source )

TCC need another 3.87% or 5,5578,840 shares to pushed it to the unconditional 50% by 4 Feb 2013. The offer will lapse if it does not become unconditional.

Considering how much TCC begin with and how much it garnered since, its not been a straightforward. So it remains to be seen that if the takeover will be a foregone conclusion.

Personally I hope the takeover fails (not vested)

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starlene
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31-Jan-2013 19:29

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Today Biz Times reported Chaoren the thai billionaire intends to keep F& N listed depite garnerimg slightly> 50%..so if he cant get > 90% F& N will definitely be > $9.55..same scenario as STX OSV...as what others has commented below

Haha.. Disclaimer is only the formality ... As I am not the stock analyst , not supposed to advise , I am giving my point of view . I have been benefited from a few occasions similar to this scenerio, whereby , offeror offered lower than market price and hope to garner more than 90% for delisting . Yet , finally , the stock is still listed in the market and sprung back to its fair value ...

One of the examples is Nera Tel, you could google it to find out yourself. Give yourself sometimes for it to come back to its fair value.

This counter has been in my watchlist , but have never go in until recent opportunity such as this arises....

I noticed it was fluctuating within a few cents . I am going in again if it drops further to my targeted/analysed price. And I will be going in big time.....

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Ann3332
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29-Jan-2013 23:32

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Thanks Octavia

Octavia ( Date: 29-Jan-2013 23:28) Posted:

IMO,you should be entitled to dividend.Similarly those who bought on ex-date(i.e 1st Feb) will not be getting the CD.

Ann3332 ( Date: 29-Jan-2013 23:14) Posted:

Can anyone please advise, F& N ex-date is 1st Feb. will I get dividend if sell on 1st Feb? Just want to be sure, thank you

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Octavia
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29-Jan-2013 23:28

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IMO,you should be entitled to dividend.Similarly those who bought on ex-date(i.e 1st Feb) will not be getting the CD.

Ann3332 ( Date: 29-Jan-2013 23:14) Posted:

Can anyone please advise, F& N ex-date is 1st Feb. will I get dividend if sell on 1st Feb? Just want to be sure, thank you

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Ann3332
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29-Jan-2013 23:14

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Can anyone please advise, F& N ex-date is 1st Feb. will I get dividend if sell on 1st Feb? Just want to be sure, thank you

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Octavia
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29-Jan-2013 18:21

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Fraser & Neave (F99.SG) said Tuesday that all of its board members, including Chairman Lee Hsien Yang, will resign from the company next week, making way for Thai billionaire Charoen Sirivadhanabhakdi, the largest shareholder, to restructure the board.

The nine board members decided to resign to allow Charoen's Thai company -- unlisted TCC Assets -- to have a " free hand to chart a new direction" for Fraser & Neave, a Singapore property and soft drinks conglomerate, Lee told shareholders at the company's annual general meeting.

I think it was more of a sack after what the F& N directors have earlier lean towards Heineken for the purchase of APB.Charoen is very angry.

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mediscur
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22-Jan-2013 11:50

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Aiyoyo. TCC only did 2 married deals la. 34.6m F& N at 9.55. Now TCC got 42.5%. OUE has not reverted on a counteroffer yesterday. Now if Kirin chickens out, the story ends.

BTW no married deals at 9.6 hor. Don't anyhow bomb from your rear :D

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teeth53
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21-Jan-2013 09:31

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Yells: "don't learn through life, learn to grow with life "

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Would it be TCC buying...? this married deal..??.

Last	Trades	Volume	Bid Volume	Mid	Ask Volume
9.550	4	93,018,000	0	93,018,000	0
9.700	14	39,000	39,000	0	0
9.710	32	131,000	113,000	11,000	7,000
9.720	19	45,000	18,000	0	27,000
9.730	10	51,000	32,000	0	19,000
9.740	5	12,000	11,000	0	1,000
9.750	46	489,000	0	0	489,000
TOTAL	130	93,785,000	213,000	93,029,000	543,000

infancybird ( Date: 19-Jan-2013 07:07) Posted:

Noted this move by TCC.. however please take note that the many recent married deals are done at $9.60 which is higher than the $ 9.55 and hence the buyer is not and cannot be TCC ( not allow to buy above 9.55 by take over law). Indication is that Someone is still buying at higher price thru married deal ( may be hedge fund or OUE) and a bidding war will erupt b/w the two soon on Sunday. Plan... wait for OUE to offer higher price , very likely to be $9.60

DividendsWizard ( Date: 19-Jan-2013 01:35) Posted:

$9.55

http://www.bloomberg.com/news/2013-01-18/thai-billionaire-challenges-oue-s-f-n-offer-with-increased-bid.html

http://www.businessweek.com/news/2013-01-18/thai-billionaire-challenges-oue-s-f-and-n-offer-with-increased-bid

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louis_leecs
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21-Jan-2013 08:55

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Games over soon,,90million done than finally games over this morning.....who is buyer and who is looser or win money and show hand ,,,9.am will know,,,,,,

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