(Its a jaw dropping offer)

Having talked about the company in my previous posts,i will not go deep into the analysis again.

But this offer of 22.5 cents is a minority shareholder unfriendly offer.

Unfortunately, this offer will most likely go through.

1) The undertaking stands at 86.88% which means that only 3.12% is needed for the 90% hurdle for the take over to go through

2) If anyone has seen the top 20 shareholders, one will realise that Goh Seok Kee has 3.26% of the shares. If he/she has not disposed them (which is unlikely given the volume traded for the stock since 17 march has never been in millions), then the takeover offer will likely go through if he/she agrees to it.

When your name is just one word away from the executive chairman…its hard for others without any information to believe you are not affiliated…….

Why is the offer a lowball?

1) Company has 19