Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

HK Type 4 license through Ballingal Investment Advisors Ltd. 

I'm a highly experienced sell-side analyst with in excess of 22 years of covering Asia Pacific equities, the past 19 years immersed in event strategies encompassing M&A risk arbitrage, directional long/short, stub trades and restructuring.  

My background also includes accountancy (liquidation/bankruptcy/receivership) earlier in my career and as a chief financial officer of a global commodity company based in the US and Mexico.

Pan-Asia Catalysts/Events

APN Property (APD AU): Scheme Booklet Out. EGM Firmed

Quiddity Advisors

Event-Driven

This morning real estate manager <a href="https://www.smartkarma.com/entities/apn-property-group-ltd" target="_blank" data-smartkarma-citation="entities:3730:1" rel="noopener">Apn Property Group (APD AU)</a> made an <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02373507-3A566928?access_token=83ff96335c2d45a094df02a206a39ff4" target="_blank" rel="noopener">announcement</a> it had entered into a Scheme with <a href="https://www.smartkarma.com/entities/dexus" target="_blank" data-smartkarma-citation="entities:403:1" rel="noopener">Dexus Property (DXS AU)</a> at a price of A$0.915/share, a 50% premium to last close.
The Offer has the unanimous backing of APN directors. In addition, APN directors holding 33% of APN's outstanding shares intend to vote in favour of the Scheme.
APN Chairman Chris Aylward has separately granted Dexus a call option equal to 19.9% of APN's shares, exercisable in the event a competing proposal is announced.
The Scheme meeting is expected to be held mid-July with implementation potentially early August. 
Board support, a hefty premium to last close, and a decade-plus high - this is priced to complete and is trading accordingly.
More below the fold.

This morning real estate manager Apn Property Group (APD AU) made an announcement it had entered into a Scheme with Dexus Property (DXS AU) at a price of A$0.915/share, a 50% premium to last close.
The Offer has the unanimous backing of APN directors. In addition, APN directors holding 33% of APN's outstanding shares intend to vote in favour of the Scheme.
APN Chairman Chris Aylward has separately granted Dexus a call option equal to 19.9% of APN's shares, exercisable in the event a competing proposal is announced.
The Scheme meeting is expected to be held mid-July with implementation potentially early August. 
Board support, a hefty premium to last close, and a decade-plus high - this is priced to complete and is trading accordingly.
More below the fold.

APN Property Group

APN Prop (APD AU): Dexus' Done Deal