Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<p>On the 7th of September, Star Attraction Limited which is the Wheelock entity offering to buy out the rest of <a href="https://www.smartkarma.com/entities/3197" target="_blank" data-smartkarma-citation="entities:3197:1">Wheelock Properties (S) (WP SP)</a> (with 27 minutes remaining) <a href="http://infopub.sgx.com/FileOpen/Extension%20of%20Closing%20Date.ashx?App=Announcement&amp;FileID=524421" target="_blank">announced</a> it had extended the closing date of its Unconditional General Offer for the remaining shares to the 21st of September. At the time it had <a href="http://infopub.sgx.com/FileOpen/Levels%20of%20Acceptances.ashx?App=Announcement&amp;FileID=524528" target="_blank">acceptances</a> totalling 1.37% of shares out.</p>
<p>On Friday the 21st, with 17 minutes left on the clock, the Offeror <a href="http://infopub.sgx.com/FileOpen/Extension%20of%20Closing%20Date.ashx?App=Announcement&amp;FileID=525842" target="_blank">announced</a> an extension of its offer to 28th September. Later on Friday the level of acceptances was updated, and as of Friday 5:30pm, the Offeror had received <a href="http://infopub.sgx.com/FileOpen/Levels%20of%20Acceptances.ashx?App=Announcement&amp;FileID=525940" target="_blank">acceptances</a> for 37,068,418 shares or 3.10% of shares out.</p>
<p>That is about 13% of pre-deal minorities and less than a quarter of what it would take to get to a delisting event, which cannot be seen as resounding support for the deal. </p>
<p>Since announcement, the stock has yet to trade at or below terms. </p>
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<td colspan="3">
<h2>Insights on Smartkarma About the Takeout of <a href="https://www.smartkarma.com/entities/3197" target="_blank" data-smartkarma-citation="entities:3197:1">Wheelock Properties (S) (WP SP)</a>
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<td><strong>Date</strong></td>
<td><strong>Author</strong></td>
<td><strong>Insight</strong></td>
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<td>7Jun17</td>
<td><a href="https://www.smartkarma.com/profiles/840" target="_blank" data-smartkarma-citation="accounts:840">D Blennerhassett</a></td>
<td><a href="https://www.smartkarma.com/insights/wheelock-property-to-privatise-or-not" target="_blank" data-smartkarma-citation="insights:11295">Wheelock Properties - To Privatise or Not</a></td>
</tr>
<tr>
<td>16Jun18</td>
<td><a href="https://www.smartkarma.com/profiles/2053" target="_blank" data-smartkarma-citation="accounts:2053">Royston Foo</a></td>
<td><a href="https://www.smartkarma.com/insights/wheelock-properties-deep-value-to-be-unlocked-but-the-question-is-when" target="_blank" data-smartkarma-citation="insights:21343">Wheelock Properties – Deep Value to Be Unlocked but Question Is…when?</a></td>
</tr>
<tr>
<td>18Jul18</td>
<td colspan="2"><strong>DEAL ANNOUNCED</strong></td>
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<tr>
<td>19Jul18</td>
<td><a href="https://www.smartkarma.com/profiles/25" target="_blank" data-smartkarma-citation="accounts:25">Travis Lundy</a></td>
<td><a href="https://www.smartkarma.com/insights/wheelock-properties-to-privatise" target="_blank" data-smartkarma-citation="insights:22294">Wheelock Properties - To Privatise</a></td>
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<tr>
<td>23Jul18</td>
<td><a href="https://www.smartkarma.com/profiles/2053" target="_blank" data-smartkarma-citation="accounts:2053">Royston Foo</a></td>
<td><a href="https://www.smartkarma.com/insights/wheelock-properties-holding-out-for-a-better-offer" target="_blank" data-smartkarma-citation="insights:22390">Wheelock Properties – Holding Out for a Better Offer</a></td>
</tr>
<tr>
<td>29Aug18</td>
<td><a href="https://www.smartkarma.com/profiles/25" target="_blank" data-smartkarma-citation="accounts:25">Travis Lundy</a></td>
<td><a href="https://www.smartkarma.com/insights/wheelock-properties-not-trading-like-it-wants-to-go-at-s-2-10" target="_blank" data-smartkarma-citation="insights:23549">Wheelock Properties - Not Trading Like It Wants To Go at S$2.10</a></td>
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<td>3Sep18</td>
<td><a href="https://www.smartkarma.com/profiles/2053" target="_blank" data-smartkarma-citation="accounts:2053">Royston Foo</a></td>
<td><a href="https://www.smartkarma.com/insights/wheelock-properties-better-risk-reward-for-scalping-now" target="_blank" data-smartkarma-citation="insights:23708">Wheelock Properties – Better Risk-Reward for Scalping Now</a></td>
</tr>
</tbody>
</table>
<p>More below the fold.</p>

On the 7th of September, Star Attraction Limited which is the Wheelock entity offering to buy out the rest of Wheelock Properties (S) (WP SP) (with 27 minutes remaining) announced it had extended the closing date of its Unconditional General Offer for the remaining shares to the 21st of September. At the time it had acceptances totalling 1.37% of shares out.
On Friday the 21st, with 17 minutes left on the clock, the Offeror announced an extension of its offer to 28th September. Later on Friday the level of acceptances was updated, and as of Friday 5:30pm, the Offeror had received acceptances for 37,068,418 shares or 3.10% of shares out.
That is about 13% of pre-deal minorities and less than a quarter of what it would take to get to a delisting event, which cannot be seen as resounding support for the deal. 
Since announcement, the stock has yet to trade at or below terms. 




Insights on Smartkarma About the Takeout of Wheelock Properties (S) (WP SP)




Date
Author
Insight


7Jun17
D Blennerhassett
Wheelock Properties - To Privatise or Not


16Jun18
Royston Foo
Wheelock Properties – Deep Value to Be Unlocked but Question Is…when?


18Jul18
DEAL ANNOUNCED


19Jul18
Travis Lundy
Wheelock Properties - To Privatise


23Jul18
Royston Foo
Wheelock Properties – Holding Out for a Better Offer


29Aug18
Travis Lundy
Wheelock Properties - Not Trading Like It Wants To Go at S$2.10


3Sep18
Royston Foo
Wheelock Properties – Better Risk-Reward for Scalping Now



More below the fold.

Wheelock Properties - Offer Light, Acceptances Light, Offer Extended

Hong Kong

Wheelock Properties Ltd. operates as an holding company. The Company, through its subsidiaries, provides treasury management and investment services as well as develops and invests in property.

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Wheelock Properties (49 HK)

Wheelock Properties - Offer Light, Acceptances Light, Offer Extended

On the 7th of September, Star Attraction Limited which is the Wheelock entity offering to buy out the rest of Wheelock Properties (S) (WP SP) (with...

Travis Lundy

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)