Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Yorkey Optical International Cayman / Event-Driven

<ul>
<li>After reassessing <a href="https://www.smartkarma.com/entities/yorkey-optical-international-cayman" target="_blank" data-smartkarma-citation="entities:12407:1" rel="noopener">Yorkey Optical International (2788 HK)</a>'s property interest, Jones Lang LaSalle's revised NAV increases to $0.94/share, from $0.818/share as at June 30, compared to the cancellation price of $0.88/share.</li>
<li>David Webb, whose holding in Yorkey is sufficient to disrupt the Scheme vote, assessed an increase in the NAV of HK$0.365/share when properties were booked to market.</li>
<li>Note: the Offer Price has still not been declared final.</li>
</ul>


After reassessing Yorkey Optical International (2788 HK)'s property interest, Jones Lang LaSalle's revised NAV increases to $0.94/share, from $0.818/share as at June 30, compared to the cancellation price of $0.88/share.
David Webb, whose holding in Yorkey is sufficient to disrupt the Scheme vote, assessed an increase in the NAV of HK$0.365/share when properties were booked to market.
Note: the Offer Price has still not been declared final.


Yorkey Optical (2788 HK): JLL Meets Asia Optical And Webb Halfway... Sort Of...

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When <a href="https://www.smartkarma.com/entities/yorkey-optical-intl-cayman" target="_blank" data-smartkarma-citation="entities:12407:1" rel="noopener">Yorkey Optical Intl Cayman (2788 HK</a> <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2021/1015/2021101501288.pdf" target="_blank" rel="noopener">announced</a> an Offer on the 15 October, by way of a Scheme, from <a href="https://www.smartkarma.com/entities/asia-optical-co-inc" target="_blank" data-smartkarma-citation="entities:11214:1" rel="noopener">Asia Optical Co (3019 TT)</a> at $0.88/share (not declared final), I wrote in <a href="https://skr.ma/irBvc" target="_blank" rel="noopener">Yorkey Optical (2788 HK)'s Scheme: What Will Webb Do?</a> a bump in terms cannot be ruled out.
In <a href="https://skr.ma/EPj6W" target="_blank" rel="noopener">Yorkey Optical (2788 HK): Webb Bumps... Will Asia Optical?</a>, it became self-evident this required a bump from Asia Optical otherwise it was a non-starter. 
And now we have new information which makes me even more confident this needs a bump. And still shares trade well below terms. Get involved.
More below the fold. 
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When Yorkey Optical Intl Cayman (2788 HK announced an Offer on the 15 October, by way of a Scheme, from Asia Optical Co (3019 TT) at $0.88/share (not declared final), I wrote in Yorkey Optical (2788 HK)'s Scheme: What Will Webb Do? a bump in terms cannot be ruled out.
In Yorkey Optical (2788 HK): Webb Bumps... Will Asia Optical?, it became self-evident this required a bump from Asia Optical otherwise it was a non-starter. 
And now we have new information which makes me even more confident this needs a bump. And still shares trade well below terms. Get involved.
More below the fold. 





Insight Provider, CrossASEAN Research

Nicolas Van Broekhoven

Insight Provider

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Thematic (Sector/Industry)

Having been on the buy-side for nearly fifteen years my focus and preference have always been small- and midsize companies ("SMidcaps"). One aspect of investing in these SMidcaps is that corporate governance is a serious issue, particularly in Asia.When legendary fund manager Anthony Bolton (Fidelity) decided to <a href="https://www.theguardian.com/money/2009/nov/26/anthony-bolton-chinese-fund-fidelity" target="_blank">come out of retirement in 2009 </a>and open a China fund he attracted lots of attention and capital. Given the Fidelity brand name he surely had the resources to build a team of the best…

Having been on the buy-side for nearly fifteen years my focus and preference have always been small- and midsize companies ("SMidcaps"). One aspect of investing in these SMidcaps is that corporate governance is a serious issue, particularly in Asia.When legendary fund manager Anthony Bolton (Fidelity) decided to come out of retirement in 2009 and open a China fund he attracted lots of attention and capital. Given the Fidelity brand name he surely had the resources to build a team of the best…

When Small-Cap Companies Refuse to Meet Investors: Watch Out

Hong Kong

Magnus Concordia Group Limited operates printing business. The Company prints and sells art books, packaging boxes, children's books, and other related products. Magnus Concordia Group also offers property services, securities investment, and trading services.

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Magnus Concordia Group (1172 HK)

Yorkey Optical (2788 HK): JLL Meets Asia Optical And Webb Halfway... Sort Of...

I still believe Asia Optical needs to bump, at least at, or slightly above the reassessed NAV, even if Webb considers that revised NAV falls short.

David Blennerhassett

Yorkey Optical (2788 HK): Time To Buy

Shares trade at a 6% gross spread. Get involved. I don't expect a revised offer of ~HK$1.19/share, around Webb's adjusted NAV. But ~HK$1.00 is...

David Blennerhassett

When Small-Cap Companies Refuse to Meet Investors: Watch Out

Having been on the buy-side for nearly fifteen years my focus and preference have always been small- and midsize companies ("SMidcaps"). One aspect...

Nicolas Van Broekhoven

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