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Real-Time news about E-Pay Asia (London Stock Exchange): 0 recent articles
|boadicea: Those who accepted the shares offer and had their new holding in GHL sold as an ineligible holder, will today have received their A$ cheque in settlement.
The result is 27.0464 Acents per GHL, equivalent to 74.3776 cents per EPY share, as against the 40 cents offered in cash. Well worth the wait and slight uncertainty at the back of one's mind.
The equivalent price in ringgits is about 0.8 per GHL share or 2.2rgts per EPY. The current price in rgts is 1.03 per GHL so on that comparison it doesn't look so good and there's obviously a lot of money to be made in churning this stuff through the financial system ..... but not for the punters!
The cheque is dated 10th April, so I assume that on either immediate or 3 day settlement, the trade occurred on or after 7th April and CGT gain/loss falls in 2014/15.|
|boadicea: The current comparison between the cash and the share option appears nonsensical due to the rapid escalation of the GHL share price since the offer was formulated.
Without wanting to seem paranoid, I would ask whether the GHL valuation is being pumped up to discourage people from opting for the cash? In that case it will not hold up after the deal has gone through.
On the other hand, is this deal a company maker for GHL that more than justifies its price rise?... in which case the paper offer is preferable.
I feel very much in the dark on this matter and there seem little encouragement to attempt a sale on ASX from what has been written above.
However, there is a poster on another thread who regularly operates on ASX and I might ask if he can suggest the best route to take.|
|freddie ferret: Below is a copy and paste from the bidders statement from GHL. I think it is arguably the case that the offer price of 40c is obsolete. It will be interesting to see what the boards independent committee have to say.
The Cash Consideration values EPY at approximately AUD22.8 million based on the total issued 56,930,320
EPY Shares as at the date of this Bidder's Statement.
The Cash Consideration of AUD0.40 per EPY Share was arrived at after taking into consideration, amongst
others, the following:
(a) the range of traded market prices of EPY Shares of AUD0.315 to AUD0.38 for the past one month up to
2 October 2013, being the latest practicable date prior to the finalisation of the Offer proposal; and
(b) the earnings potential of EPY.
The Cash Consideration represents a premium of AUD0.025 or 6.67% to the closing price of EPY Shares of
AUD0.375 on 2 October 2013 (being the latest practicable date prior to the finalisation of the Offer proposal).|
|freddie ferret: I have been thinking along the lines of timing, how long do we have?
I think the answer to this is quite a long time.
RESPONSE TO TAKEOVER OFFER
GHL Systems Berhad (
) has announced that it intends to make an off
market takeover offer
) to acquire all the shares in e
pay Asia Limited (
GHL will offer cash consideration
of A$0.40 per EPY share. As an alternative, shareholders will
have the choice to elect to receive 2.75 GHL shares per EPY share held, which will be listed on
Bursa Malaysia Securities Berhad.
As GHL is associated with several EPY directors and EPY's majo
r shareholder, an independent
board committee (
) comprised of Directors that are not participating insiders, consisting of Mr
CY Chin (Chairman) and Mr Thomas Schnitker, has been formed.
The IBC will:
evaluate the Offer;
appoint an independent expert
to prepare an independent expert's report to opine on
whether the Offer is fair and reasonable; and
oversee the preparation of a target's statement on behalf of EPY responding to GHL's
bidder's statement. The target's statement will contain the IBC's recom
relation to the Offer as well as an independent expert's report.
Shareholders are advised to take no action in relation to the Offer until EPY issues its target's
statement containing a formal recommendation in relation to the Offer as well as
expert's report. This is not expected to occur until December 2013.
The Offer is not expected to close until January 2014 at the earliest and therefore shareholders will
have sufficient time to consider the Offer.
The IBC has approved B
aker & McKenzie as the company's legal adviser in relation to the Offer.
If shareholders have any queries please contact the Company Secretary
Robert Lees on his
Direct line +612 9299 9580, mobile 0411494406 or by email: [email protected]
I think the conclusion to the above, taken from the EPY announcement on the 7th Oct, is that we wait until the report of the Independent EPY committee, consisting of their non execs, this is not due until December.
Given that the EPY and GHL share prices have both advanced substantially since the offer I think the deliberations of that committee could be interesting.|
|monkey puzzle: Freddie,
Quite some document there.
Key thing I saw was the potential to change the scrip offer based on the higher ghl share price so we might get alot less shares?
Whats an illegible foreign shareholder?
Feels like it might be better to sell ebfore the offer closes to get best value?|
|pomp circumstance: Surely EPH share price is now just linked to that of GHL
What currency are GHL shares valued in? Ringit? 3 to the AUD?
whatever GHL does EPH is going to do.
GHL 0.735 = .244 AUD
according to the offer 1 EPY = 2.75
so .244 * 2.75 = 0.67 AUD which is about the EPY current share price|
|monkey puzzle: results out
Modest gains in revenues, profits and eps...big tax hit as tax free status ended. Share price unchanged.|
|monkey puzzle: Seems like everyone has given up here?
Prelims out today, make of it what you will....Chairman's statement not exactly uplifting I have to say but business seems to be ticking over at least.
Share price has had a bit of run up recently as well.
Currently Bid 18c v Ask 19c
Here are the results:
|monkey puzzle: How on earth can it be a "stitch up"? They potential buyer has made a significantly higher offer than Loh did. If anyone was "stitching us up" it was Loh. Btw, did you notice the clause that provides Loh with a one-off payment of $1.8m ASD to not complete with the Malayasian business for 2 years?
You may not be happy with the actual value being paid for the Malaysian business but it is what it is in awful markets and looking back at the share price history this is good news for all of us compared with the last year or so when we down at 12c a share on the market etc.
We will receive 22c a share and still have our shares in EPY going forwards that can be sold after the deal closes.|
|buywell2: EPY share price holding stable of late bodes well methinks
Keep up the good work Freddie|
E-Pay Asia share price data is direct from the London Stock Exchange