Superbowl -- grossly undervalued

More
14 Jan 2014 14:17 #18636 by sumer
Hi Rock, I have no idea what Siah's motive is. But the fact that HH bought SB shares in the market at 75ct seems to point to the scenario that even if it does not garner 90% of SB shares, the takeover offer will still proceed. So delisting SB is not paramount to the offer.

I suspect that Siah and a couple of other bigger shareholders will not sell at 75ct, so 90% acceptance level will probably not be met.

Please Log in or Create an account to join the conversation.

More
14 Jan 2014 23:07 #18645 by Rock
I believe Siah and the other bigger shareholders had deep pocket to challenge the takeover but I don't see any counter offer coming. I had already sold off my shares. Thank Sumer for your view point.

Please Log in or Create an account to join the conversation.

More
23 Jan 2014 10:35 #18847 by Big Fish
The conviction and intention of Francis Siah are evident. With his purchase of yet another 200K shares of Superbowl at 75.5 cents, he is clearly expecting/demanding a higher offer from Hiap Hoe. In effect, he will deny HH the % that it requires to successfully delist Superbowl.

It is a good idea for us to ride on this, and not accept HH's offer of just 75 cents.

Please Log in or Create an account to join the conversation.

More
28 Jan 2014 02:09 #18904 by Mel
Just received letter from broker about my SB shares: "The offeror does not intend to revise the offer price."

I thought ---- eh, is it true? I have the impression all this while that Hiap Hoe did not say it would not revise offer price. Anyone can clarify?

Please Log in or Create an account to join the conversation.

More
11 Feb 2014 13:49 - 11 Feb 2014 13:51 #19070 by sumer
HH has changed the pre-condition for the takeover offer for SB from 90% level to 70%, as expected. The 90% pre-condition was just a tactical move to lure more SB shareholders to sell to HH. The change in the pre-condition shows that HH is serious about the takeover, and it will not be called off.

To date, valid acceptances received is 4.21%, bringing total SB shares HH will own to 77.13%, including the shares HH bought from the market and the ones HH Holdings will sell to HH (assuming they sell all that they own).

HH reiterated that the offer price will not be raised, and I suspect they are serious about this.

SB is likely to remain a listed company post takeover offer’s closing date in March.

I will be selling at least some of my shares in SB to HH and look to re-invest in other undervalued shares.
Last edit: 11 Feb 2014 13:51 by sumer.

Please Log in or Create an account to join the conversation.

More
11 Feb 2014 14:09 #19072 by Mel
Sumer, I guess we can be certain that HH will not raise its offer price. It has already explicitly said so in the latest announcement.

Hence, I am also certain (like u ) that more than 10% of SuperBowl minority shareholders will not sell out at 75 cents to HH. Possibly some 20% will still be holding tight, including Francis Siah/

SB will therefore remain a listed company, but it will be thinly traded.

This is a lousy situation for minority shareholders hoping for a higher value for the stock and for HH, which still has to incur listing & compliance fees.

I wonder if HH will one day relent and offer a higher price -- for ex., $1.20.
Hahaha

Please Log in or Create an account to join the conversation.

Share Prices

Counter NameLastChange
AEM Holdings2.0400.030
AusGroup0.0380.001
Avi-Tech Electronics0.385-
Best World Int.1.360-
CEI0.970-0.010
China Sunsine0.505-
CNMC GoldMine0.270-0.005
CSE Global0.5250.010
Eagle HTrust USD0.495-0.010
Food Empire0.650-
Golden Energy0.175-
GSS Energy0.0920.002
ISDN Holdings0.205-
ISOTeam0.220-
JB Foods0.6250.020
KSH Holdings0.4000.005
Miyoshi0.029-
Moya Asia0.0760.001
Nordic Group0.300-
Oxley Holdings0.3550.005
Procurri0.3250.015
REX International0.1750.007
Riverstone1.210-0.010
Roxy-Pacific0.3650.010
Sing Holdings0.3950.005
SingMedical0.3100.020
Straco Corp.0.545-0.005
Sunningdale Tech1.250-0.010
Sunpower Group0.5500.005
The Trendlines0.103-
Tiong Seng0.200-
Uni-Asia Group0.710-
Yangzijiang Shipbldg0.980-0.005

NextInsight RSS

rss_2 NextInsight - Latest News

Online Now

We have 948 guests and no members online