Super Group

[iphone88]

You sell now need to incur comm.
You reply back letter to angmo buyer's bank, you will get $1.3 nett.

reply letter only earmarked your share. cant get your money back immediately.

 

[lanzhu60]

Any idea if didn't sold to Ang mo buyer or on market ,wat will happen to our share holdings ?

 

[iphone88]

u will get ur money back when this stock is delisted.
which means u will get ur money back later.

 

[sgdividends]

Hi guys,

Super group has a voluntary conditional cash offer.

My shares are custodise with POEMS.

I accepted the cash offer through poems as they relayed the offer to me.

It's very weird that my shares are sold and no longer available in my account and money is given back to me.

How come can like that when it is a conditional offer and the deadline to get acceptance is not yet met ...Who knows the acquirer may not get enough at the deadline and the offer laspse.

Can someone explain if anything is wrong with the process ?

Thanks

 

[addict951]

Hi guys,

Super group has a voluntary conditional cash offer.

My shares are custodise with POEMS.

I accepted the cash offer through poems as they relayed the offer to me.

It's very weird that my shares are sold and no longer available in my account and money is given back to me.

How come can like that when it is a conditional offer and the deadline to get acceptance is not yet met ...Who knows the acquirer may not get enough at the deadline and the offer laspse.

Can someone explain if anything is wrong with the process ?

Thanks

Wait, you mean Philip Sec take your shares and gave you back $1.3 alrdy??
Faster go put esavers liao

 

[GGsg168]

Hi guys,

Super group has a voluntary conditional cash offer.

My shares are custodise with POEMS.

I accepted the cash offer through poems as they relayed the offer to me.

It's very weird that my shares are sold and no longer available in my account and money is given back to me.

How come can like that when it is a conditional offer and the deadline to get acceptance is not yet met ...Who knows the acquirer may not get enough at the deadline and the offer laspse.

Can someone explain if anything is wrong with the process ?

Thanks

lol

it is correct.

it will become unconditional when the acceptance closed.

 

[sgdividends]

Wait, you mean Philip Sec take your shares and gave you back $1.3 alrdy??
Faster go put esavers liao

Yes the cash is available for withdrawal.

Its neither good nor bad for me but its a matter of principle and professionalism as im accepting an offer from the acquirer NOT POEMS who is simply relaying a message from me. It could actually be bad as if a competing acquirer comes, there could be a bidding war......

Its definitely a good thing for POEMs as they have an option to just buy from me when the price goes above 1.30 ( and it did!) and sell it for a profit for themselves! If it doesnt go up , they just dont buy from me and wait for the acquistion to go through. Its risk free for them!

 

[Asphodeli]

Hi guys,

Super group has a voluntary conditional cash offer.

My shares are custodise with POEMS.

I accepted the cash offer through poems as they relayed the offer to me.

It's very weird that my shares are sold and no longer available in my account and money is given back to me.

How come can like that when it is a conditional offer and the deadline to get acceptance is not yet met ...Who knows the acquirer may not get enough at the deadline and the offer laspse.

Can someone explain if anything is wrong with the process ?

Thanks

that's very odd, even SCB doesn't do this.

 

[chowck]

Hi guys,

Super group has a voluntary conditional cash offer.

My shares are custodise with POEMS.

I accepted the cash offer through poems as they relayed the offer to me.

It's very weird that my shares are sold and no longer available in my account and money is given back to me.

How come can like that when it is a conditional offer and the deadline to get acceptance is not yet met ...Who knows the acquirer may not get enough at the deadline and the offer laspse.

Can someone explain if anything is wrong with the process ?

Thanks

since you've accepted the cash offer, your shares in Poem will be debited so that you're not allowed to sell them. That why you could not find them anymore. Should the takeover offer not successful, Poem should credit the shares back to you. This is how I interpreted.

 

[Garlic & Butter]

on 15th March 5pm, the offer had turned unconditional. so POEMS didn't do anything wrong.
on the other hand, i was told SCB will only submit instructions to CDP on its closing date, which is 19 Apr. As the official closing date is 25 Apr, means SCB holders only get cash in May

 

[sgdividends]

on 15th March 5pm, the offer had turned unconditional. so POEMS didn't do anything wrong.
on the other hand, i was told SCB will only submit instructions to CDP on its closing date, which is 19 Apr. As the official closing date is 25 Apr, means SCB holders only get cash in May

Why unconditional? The threshold hit?

 

[sgdividends]

since you've accepted the cash offer, your shares in Poem will be debited so that you're not allowed to sell them. That why you could not find them anymore. Should the takeover offer not successful, Poem should credit the shares back to you. This is how I interpreted.

Ok but I'm able to withdraw the cash...So if takeover not successful, I pass them the cash?

Quite weird. New experience

 

[Swiftyz]

Yeah anyone got explanation to why we already got our cash and it became unconditional before the deadline?

 

[Asphodeli]

Yeah anyone got explanation to why we already got our cash and it became unconditional before the deadline?

Conditional means the offer will be withdrawn if it doesn't meet a requirement. Usually is 50% of the shares on the market. For companies with small amount of free float, and the offerors have > 50%, usually this "conditional" thing is procedural la.

The key thing to note is the point at which it goes "unconditional", meaning that the deal is on, and they will try to acquire up to 90% so that they have the right to take all your shares in exchange for cash. If they acquire up to, say, 75%, then they LLST and have to either (a) remain listed, or (b) delist the company and you will be come shareholders in a private company.

Tiagong very few companies are benevolent to retail investors who hold shares in a private company, and you will very likely get no dividends, and it is extremely hard to dispose of the shares too.

For the cash, I dunno man. I think it's because of the clause stated in the document that, once they get your offer, they will pay you the cash either (a) 7 days after the closing date, or (b) 7 days after they received your offer.

 

[sgdividends]

Thanks all and asphodeli..Also good lah..Pay fast

 

[Swiftyz]

Conditional means the offer will be withdrawn if it doesn't meet a requirement. Usually is 50% of the shares on the market. For companies with small amount of free float, and the offerors have > 50%, usually this "conditional" thing is procedural la.

The key thing to note is the point at which it goes "unconditional", meaning that the deal is on, and they will try to acquire up to 90% so that they have the right to take all your shares in exchange for cash. If they acquire up to, say, 75%, then they LLST and have to either (a) remain listed, or (b) delist the company and you will be come shareholders in a private company.

Tiagong very few companies are benevolent to retail investors who hold shares in a private company, and you will very likely get no dividends, and it is extremely hard to dispose of the shares too.

For the cash, I dunno man. I think it's because of the clause stated in the document that, once they get your offer, they will pay you the cash either (a) 7 days after the closing date, or (b) 7 days after they received your offer.

Alright. Thanks for the explanation!

 

[lanzhu60]

Alright. Thanks for the explanation!

Hi guys ,I'm holding via scb ,would like to know ,if wana accept e offer ,by when do i need to submit ? Another option is to sell off via market n incur charges ?

 

[Garlic & Butter]

Hi guys ,I'm holding via scb ,would like to know ,if wana accept e offer ,by when do i need to submit ? Another option is to sell off via market n incur charges ?

SCB response closes 19 Apr 5pm
If you elect today, also will not get $ immediately (should receive by may 1st week) as they told me will only submit to custodian when offer closes

 

[lanzhu60]

SCB response closes 19 Apr 5pm
If you elect today, also will not get $ immediately (should receive by may 1st week) as they told me will only submit to custodian when offer closes

Ok . But if dt elect ,other choice is til sell via market n incur comm charges right ? If hold on ,wat will happen ?

 

[thegodfather]

feel like holding for a better offer but i highly doubt there will be. they are already paying a 20% premium for super. SCB holder here. so anyone here accepting also?