bearish
Asia Cement (743 HK): 26th August Vote. Shareholders Should Reject Terms
556 Views04 Aug 2024 07:05
The Offer price is wrong. Given how shareholders voted at this year's AGM and last year's AGM, I'd expect this Scheme to be voted down. Avoid.
What is covered in the Full Insight:
- Introduction to the Offer
- Conclusions on the Offer
- Vote and Payment Timeline
- IFA Report Analysis
- Recap of Offer Terms & Details
Boomeranged on Mon, 26 Aug 2024 20:40
The Scheme failed. No surprises there. The Offer price was rubbish. 30.58% of total disinterested shares votes against the transaction, well in excess of the 10% limit. Asia Cement (1102 TT) is required to wait 12 months before reloading. Preferably with a considerably higher Offer price. Expect the share price to re-test April's multi-year low tomorrow.
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