[p1acebo]

Cannot be because the floor price is already 58cts.  What the SSH can do is to slowly buy up the shares on the open market until they reach 90%

This way (buy up) is still cheaper than making a general offer for all shares @$1.15cts (NAV price)

I am definitely rejecting this super lowball offer.  Anyway I been holding this stock for years and getting between 7% to 12% dividends annually.

So waiting and getting paid is okie with me too

[p1acebo]

Share prices no gap up....no bbs interested in this stock..I think they release this news to lure in suckers to buy at current price

The fight is only between the owners, substantial holders (SSH) and the minority shareholders.

The SSH want to buy out minority shareholders (who have supported them since IPO days) with a lowball offer so they can enjoy the spoils and profits all by themselves instead of sharing with the minority shareholders. No outsiders are involved. And SIAS does not have a vested stake in their shares in the first place.

The release of the latest news is part of the due diligence process.  Kudos to SIAS and Sin Heng’s own IFA for their good work 

[p1acebo]

Sin Heng Management Team should have the balls to clarify instead of running scared

[pinkpanther]

Sin Heng Management Team should have the balls to clarify instead of running scared

I offer 58.5 cts for all the shares....

[p1acebo]

I offer 58.5 cts for all the shares....

[p1acebo]

Last night 23 April, Sin Heng sent out an announcement that the level of acceptance (SSH and minority shareholders) is at 75.92% which is just 3.55% more than a week ago @16 April where the level of acceptances was at 72.37% 

Sing Heng also blithely ignored all calls by SIAS and Business Times to clarify questions regarding their lowball offer.

At this poor take up rate by knowledgeable minority shareholders and with just 1 more week to go, the takeover bid will FAIL as they need 90% acceptance rate for the takeover bid to succeed

[pinkpanther]

Last night 23 April, Sin Heng sent out an announcement that the level of acceptance (SSH and minority shareholders) is at 75.92% which is just 3.55% more than 16 April which was at 72.37% 

Sing Heng also blithely ignored all calls by SIAS and Business Times to clarify questions regarding their lowball offer.

At this poor take up rate by knowledgeable minority shareholders and with just 1 more week to go, the takeover bid will FAIL as they need 90% acceptance rate for the takeover bid to succeed

Sell down begins when the takeover bid fails...
58cts don take ..sell down to 30cts to flush out weak holders and accumulate more for themselves 

[p1acebo]

Sell down begins when the takeover bid fails...
58cts don take ..sell down to 30cts to flush out weak holders and accumulate more for themselves 

It may go down a few cents but that’s ok, every year got good dividends payout range between 7% to 11% annually.  They have to maintain good dividends because the SSH need to pay themselves as well.

Suntec REITs shareholders also rejected the lowball offer at $1.16 then later at $1.19. The highest done then was $1.22 and now around $1.14 to $1.15 I think.  So no worries

[pinkpanther]

No volume

[p1acebo]

No volume

That’s good news!! It means the lowball offer by Sin Heng owners & SSH will fail!

Minority shareholders unite! Just do nothing and decisively reject the lowball offer @58cts

[pinkpanther]

When reach $1.15 ?

[p1acebo]

When reach $1.15 ?

SIAS recommended this revised NAV amount for Sin Heng (based on the latest Sin Heng financial reports) as a starting amount for future negotiations.

Unlikely this lowball takeover bid will succeed as left only 3 more working days and the incremental rise is just 3.55% per week.  They are now at just around 76% and need 90% for the bid to go through.

SIAS even chided Sin Heng for wasting company monies for mounting (this soon to fail) bid

If not get $1.15, just collect 5cts dividend annually lor. Also heypi heypi 

[p1acebo]

Amara Hotel SSH are way more fair and their IFA also said it was a reasonable offer. Imagine Amara’s offer price of over 70% to 75% premium over last traded prices, versus Sin Heng’s lowball offer of just a 4% to 6% premium over the recently traded prices.

A whole world of difference and shows how greedy and unfair the Sin Heng SSH and owners are.

Extracted post:
Independent financial adviser Xandar Capital had deemed the offer price of S$0.60 to be fair and reasonable.

The offer price represented a premium of 53.8 per cent over Amara’s share price of S$0.39 on Jun 15, before the company announced that its key shareholders were in talks over a possible transaction, Amethyst said.

It also represented a 70.5 per cent premium over Amara’s volume-weighted average price for the one month up to Jun 15, and a 75.4 per cent premium over the three-month period.

[p1acebo]

Even Amara’s reasonably good offer of 70% to 75% premium in early 2024 was rejected by shareholders (just missed the 90% threshold by a few % only).

Now just announced trading halt again

[p1acebo]

Tomorrow go flip table 

[Ernesto]

when the regulator is sleeping on their job expect the manipulation by these crooks.

[p1acebo]

For those going to the AGM today, remember to suan the Sin Heng SSH about their lowball offer

[p1acebo]

Read their flippant and unrepentant replies to the questions posed to them here.

https://links.sgx.com/1.0.0/corporate-an...5df878043d

[ysh02]

Tomorrow last time to sell ?....else one year later and come back.....

[p1acebo]

Tomorrow last time to sell ?....else one year later and come back.....

Take this year’s 5cts dividend first, next year $1.15 offer then sell

[p1acebo]

Tomorrow last time to sell ?....else one year later and come back.....

Amara last year offered 60cts takeover price rejected. Now today offer 89.5cts!!

Same thing will happen for Sin Heng! Reject lowball offer this year . Next year maybe offer > $1.15!!

[p1acebo]

Amara offered 60cts (already a 70% premium) and was rejected by shareholders last year. Yesterday they offered 89.5cts !!

Sin Heng’s lowball offer of 58cts (just a measly 6% premium) will surely be rejected by shareholders today too.

Let the lowball offer lapse. Wait till they come back with a reasonable offer in the coming years or just enjoy the 7-11% dividends annually. They need to keep on paying good dividends as they are paying themselves too. Plus SIAS watchdog is watching their every step.

We minority shareholders support Sin Heng since IPO days and this is how they want to treat us shareholders.

Very ungrateful, unlike Amara. Ptui Sin Heng

[p1acebo]

No $1.15 No Sell!

Let the lowball offer lapse today.

[p1acebo]

Huat Huat 

Final level of acceptance only 78%

So the lowball bid failed. Huat Ahhhh!!!!