Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

The despatch of <a href="https://www.smartkarma.com/entities/19341" target="_blank" data-smartkarma-citation="entities:19341:1">Television Broadcasts Ltd (511 HK)</a>'s Offer Document has been delayed thrice since TLG’s <a href="http://www.hkexnews.hk/listedco/listconews/SEHK/2017/0307/LTN20170307602.pdf" target="_blank">"bid"</a> failed to materialise.The last two despatch delays hinged on when the Takeovers and Mergers Panel (the “Panel”) would rule on the whitewash waiver. That Panel hearing, originally tabled for the 5 April, has been rescheduled for the 27 April.In this note, I detail why the whitewash waiver is required, recent decisions handed down by the Panel and whether or not this could jeopardise the outcome of the buyback/partial offer.

The despatch of Television Broadcasts Ltd (511 HK)'s Offer Document has been delayed thrice since TLG’s "bid" failed to materialise.The last two despatch delays hinged on when the Takeovers and Mergers Panel (the “Panel”) would rule on the whitewash waiver. That Panel hearing, originally tabled for the 5 April, has been rescheduled for the 27 April.In this note, I detail why the whitewash waiver is required, recent decisions handed down by the Panel and whether or not this could jeopardise the outcome of the buyback/partial offer.

Hong Kong

Winfull Group Holdings Limited is an investment holding company. The Company engages in investment and trading, and property development.

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Winfull Group Holdings (183 HK)

TVB - Whitewash Musings

The despatch of Television Broadcasts Ltd (511 HK)'s Offer Document has been delayed thrice since TLG’s "bid" failed to materialise.The last two...

David Blennerhassett

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