E-Pay Asia Share Discussion Threads

[freddie ferret] 15/1/2014 17:39

Couple of days of modest falls in GHL.

[freddie ferret] 10/1/2014 17:43

GHL up again.

[freddie ferret] 08/1/2014 17:23

Another rise in GHL softly softly catchee monkey (excuse pun), this should start to feed through into the EPY share price shortly IMHO.

[freddie ferret] 06/1/2014 16:57

GHL up again.

[freddie ferret] 27/12/2013 16:37

Thankyou Mr Monkey, it has been a pleasure, and now may I wish you a Happy New Year. Sorry to see you sell out however if it has come good for you that is the main thing. I will wait to see what GHL has in store for us and then decide what to do.

GHL have just posted a decent rise after a few bum trading sessions.

[monkey puzzle] 23/12/2013 20:18

Freddie,

Well as td delivered early on the asset transfer, thankfully, I let my shares go overnight. Been a very long and difficult road here and for a lomng time was down a huge amount....the one off dividend and GHL's bid finally allowed me to take these off the table for decent profit and a nice lump sum just in time for Xmas....never thoughtbthat day would come so I'm very happy to have had this opportunity to move on at last.

This has been the best thread I have ever known on advfn, great posters who have helped one another throughout.

Thank you

Have a great Xmas and all the very best for 2014

[freddie ferret] 23/12/2013 16:27

GHL will probably trade through Christmas it's Malaysian, currently falling off a bit. It really all depends how you read the new announcement due in Jan.

[monkey puzzle] 21/12/2013 08:30

Well how about that, good old td got my asset xfer done before xmas and my epy shares are in my trading acct.....well done them.

So decision decision......sell on sunday night or wait for the new year......probably will trade half at least anyway

Any views......

[aphrodites] 11/12/2013 15:10

Thanks Monkey & Ralph

Just received a call from Barclays.

They inform me all the information has now been sent me in the post!!!

[freddie ferret] 11/12/2013 14:48

Monkey Puzzle.

Thanks very much for the update and ASX announcement. It seems we have a period of grace through to at least the end of January which means there is still a possibility of another bidder. It also allows people to get their paperwork sorted.

Interesting that people are not receiving information from their brokers. Possibly this has been structured so a lot of UK holders get the 40c by default???

I would not put this past Simon and co.

[ralphmalph] 11/12/2013 08:52

I had my EPY shares with Sippdeal (A J Bell) and they have sent me two electronic messages concerning the bid from GHL the last one also had the option to take the cash or the shares.

I phoned them yesterday to sell the shares and they executed the order overnight. got 65 cents oz per share with dealing costs of £29.95.

[monkey puzzle] 10/12/2013 17:13

No, we got our info direct from epy and ghl...they must have approached the registar who holds my shares in Ozz, I don't have any shares with a broker but I am in the process of moving them to one in the UK.

[aphrodites] 10/12/2013 17:06

Hi Monkey

Here is the reply I received from Barclays today:

I'd like to assure you that our Corporate Actions Team spoke with the company registrar for E-Pay, and they didn't have any information to pass on to shareholders.

Our Corporate Actions Team are responsible for obtaining information about events which materially affect a company's share capital, and then passing this to any client who holds shares in that company.

If you'd like to sell shares from your Foreign Dealing Account just give our Dealing Team a call on 0800 015 4449*, and they'll be happy to help.

I'm sure you'll appreciate if the company registrar doesn't have any information to give us, then unfortunately we don't have anything to pass on to you.

Question: Should the company registrar be responsible for providing he information of the company broker? It appears Barclays have me running around in ever decreasing circles!!!!

And has anyone received anything in writing from their brokers?

[monkey puzzle] 10/12/2013 12:24

Latest update.....delayed bid etc etc.....ASIC demanding to see half year results from GHL and new documents to be issued by 24 January 2014.....buys me some time to deal in EPY shares so I'm happy at least.....

at least I think it's good news for me anyway...-;

[aphrodites] 10/12/2013 10:20

Many thanks Monkey.
Seasonal Greetings to you and all other E-Pay shareholders.

[monkey puzzle] 09/12/2013 18:47

If you haven't received any information that sounds wrong.

Epay have a formal offer from GHL for cash or scrip shares.

Whoever holds your shares needs to update you on your options asap.

Right now it looks like your best option would be sell epay shares if you can.

[aphrodites] 09/12/2013 18:34

Colleagues

I know I might appear idle but to save me going back over all posts would someone kindly update me very briefly on what is going on with E-pay.

The reason I ask is because I sent an enquiry to Barclays Bank who I bought my initial shares through. The shares are now held by their agent abroad.

I received the reply below from Barclays:

I'm emailing as promised regarding your enquiry yesterday about a corporate action for E-Pay.

I've heard from our Corporate Actions Team this morning and they've confirmed that they've had no information from either E-Pay or their company registrar to pass on to shareholders.

I'd like to assure you that if we do hear from them, and they ask for shareholders to respond, we will of course write to you.

Is this a fair response or are they advising me wrongly?

[monkey puzzle] 05/12/2013 09:24

So back to accepting the cash offer or selling the shares then by the look of things unless GHL can provide assurances re selling their scrips shares....thanks for trying and getting something back at least.

[boadicea] 05/12/2013 08:44

I have received the following answer to my query -

"GHL have to answer this question – we are not a party to the offer & acceptance process – that is between you and GHL.
"Our Target Statement is our response to our Shareholders (required under the Australian Corporations Act) – the process for Ineligible Foreign Shareholders has a couple of steps and at the end it is at GHL discretion. It requires you providing GHL with a legal assurance that accepting a scrip offer is legal in the UK, as the takeover documents are only intended to comply with Australian Law.
"Our lawyers view is that shareholders probably will not be able to provide that assurance to GHL."

So the question is not definitively answered.

The only published method of contacting GHL's representative/agent is by the telephone number given on page 4 of the original Bidder's Statement
00613 9415 4124.

The best (cheapest) way to do this is via a secondary provider which costs just 1p per minute (much cheaper than you could call your next door neighbour in UK!)
plus a standard connection charge (about 20p?). Dial
0844 8699700
and when that answers with an automated message dial
00613 9415 4124

I think one has to do it during Australian (Melbourne) office hours.

[monkey puzzle] 04/12/2013 15:28

Well done Bodicea......does seem bizarre to offer EPY shareholders scrip shares in GHL and then say uh oh but only at out discretion etc etc....and then even if you got them, you could never sell the bloody things....hopefully we can get someone to clear this up in time to make an informed decision, meanwhile I wait to see if this Australian asset transfer will ever get done for me.....

[boadicea] 04/12/2013 15:23

I have emailed [e-mail] for clarification and a positive assertion of ineligibility for UK holders and will report any answer I receive.

[boadicea] 04/12/2013 14:53

According to the 'Target's Statement (as above) the selling of foreign entitlements to Malaysian shares is not an 'Option', it's a 'Requirement' as you would be an ineligible holder.

However, this is subtly different from that in the Bidder's Statement which I have just looked up and which says (see P107 thereof) -
An Ineligible Foreign Shareholder is "Any EPY shareholder .... in a jurisdiction other than Australia .... UNLESS GHL otherwise determines (in it's absolute discretion) after being satisfied that it is not unlawful, not unduly onerous and not unduly impracticable .... to issue GHL shares to such an EPY shareholder...." etc.

The critical word of course is the 'UNLESS' (my caps) which opens up the possibility, without asserting any intention, to accept other foreign holders.
This is most indefinite and extremely unsatisfactory.

[monkey puzzle] 04/12/2013 14:04

I got it yesterday but haven't had time to read it yet after wading through the GHL tombe that I got recently....

I thought that the GHL scrip shares would be registered in your name and that you had to arrange their sale but you couldn't do that if you didn't meet the ridiculous criteria required to do that in Malaysia so I assumed that the scrip option was waste of time as I wouldn't qualify to be able to sell my GHL Malaysian shares....I don't recall seeing a nominee selling option for foreign shareholders in the GHL version....I shall read the latest EPY version tonight

[boadicea] 04/12/2013 13:59

Exactly so! I am in the same position having specially opened a Foreign Dealing add-on to my account.

Do you not have the the E-PAY ASIA 'Target's Statement'? It's an official booklet from E-Pay issued on behalf of the independent directors.

In the Q&A section there is the question
"What if I am a foreign EPY shareholder?"
Answer: "The Bidder's Statement provides that GHL will only issue GHL shares to EPY shareholders that accept the Scrip Consideration with an address in Australia. If you are an EPY shareholder who has a registered address outside of Australia and accept the Offer, the Bidder's Statement provides that your GHL shares will be sold by a nominee appointed by GHL and the proceeds of that sale forwarded to you."

The Q&A also states (paraphrasing) that by taking no action you will be left holding an Australian share which GHL intend to delist and which, if GHL obtain at least 90% acceptances, may be compulsorily acquired at the current Offer price (i.e. A$0.40).

The one thing NOT to do atm imho, is to accept the cash offer.
The sensible options seem to be either -
- Sell now at ~69cents
or
- Accept the scrip offer and wait for the resulting GHL shares to be sold automatically as above, hoping that will produce as much (sometime around the end of January on the prposed timetable) as selling now, remembering that will also save the high dealing cost of a personal sale.

However, dyor, of course.

[monkey puzzle] 04/12/2013 11:38

Are you 100% sure about that? You're definite that if I accept the scrip that they will sell my GHL shares for me....I don't recall that being an option before and I wouldn't be going through the hell that is an Australian Asset Transfer Request with TD if I knew that!