yeah, i guess so, probably because popular themselves are confident they will get the required %? Well, we are trying to get them to at least make disclousre whenever they cross 80%, 85% ba..
Actually by not disclosing they seems to be sending the opposite message. The psychology of the dissenting shareholders is such that most will tender their shares if the battle is lost. By not disclosing and generating uncertainty over their actual disclosure level, they may actually embolden the dissenting shareholder to not tender their shares.
Frankly if they were confident, it really should have been an unconditional offer instead of a conditional one.
Around 240 mil out of 320 mil of shares not owned by Chou Cheng Ngok must accept the offer for it to go through...
To be precise, its 229,142,605 out of 308,851,680.
The detailed data as follow:
Total Popular Shares = 797,090,755
90% level for offer to proceed = 717,381,680
What Offeror had before launch of offer = 488,239,075
What Offeror need for offer to proceed = 229,142,605
Remaining Shares not owned by Offeror = 308,851,680
90% level required for compulsory acquisition = 277,966,512 (90% of 308,851,680)
Total Shares Offeror need for Compulsory Acquisition = 766,205,587