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

Clear Media: Done Deal From Alibaba & Co.

Clear Media: Will Minorities Now Get Robbed?

Quiddity Advisors

Event-Driven

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<p>On the 31 March, <strong><a href="https://www.smartkarma.com/entities/clear-media-ltd" target="_blank" data-smartkarma-citation="entities:10924:1" rel="noopener">Clear Media Ltd (100 HK)</a></strong>-management-led <strong>Ever Harmonic</strong> <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0331/2020033100243.pdf" target="_blank" rel="noopener">made</a> a voluntary cash offer for Clear at HK$7.12/share, a 50.21% premium to the last close of HK$4.74, and a ~87% premium if averaging the closing price for 30 days prior to the 29 November <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2019/1129/2019112901088.pdf" target="_blank" rel="noopener">announcement</a> last year, that Clear's controlling shareholder, <a href="https://www.smartkarma.com/entities/clear-channel-outdoor-holdin" target="_blank" data-smartkarma-citation="entities:5745:1" rel="noopener"><strong>Clear Channel Outdoor Cl A (CCO US)</strong></a>, with 50.91% of the company, was conducting a strategic review of its stake.</p>
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<p>The Offer is conditional on 50.1% acceptances. CCO has given an irrevocable to tender in their 50.91% holding. The Offer Price is Final. Dividends declared will be netted although none have been declared. </p>
<p>The Composite Document is <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0427/2020042700213.pdf" target="_blank" rel="noopener">out</a> this morning. The First Close is the 18 May. CCO is required to tender within 7 business days, wherein the Offer will turn unconditional.</p>
<p>Payment is 7 business days thereafter, suggesting the consideration to be paid under the Offer will be made on or before the 19 May. </p>
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<p>More below the fold.</p>
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On the 31 March, Clear Media Ltd (100 HK)-management-led Ever Harmonic made a voluntary cash offer for Clear at HK$7.12/share, a 50.21% premium to the last close of HK$4.74, and a ~87% premium if averaging the closing price for 30 days prior to the 29 November announcement last year, that Clear's controlling shareholder, Clear Channel Outdoor Cl A (CCO US), with 50.91% of the company, was conducting a strategic review of its stake.


The Offer is conditional on 50.1% acceptances. CCO has given an irrevocable to tender in their 50.91% holding. The Offer Price is Final. Dividends declared will be netted although none have been declared. 
The Composite Document is out this morning. The First Close is the 18 May. CCO is required to tender within 7 business days, wherein the Offer will turn unconditional.
Payment is 7 business days thereafter, suggesting the consideration to be paid under the Offer will be made on or before the 19 May. 


More below the fold.


Clear Media: Comp Doc Out. Done Deal. Payment 19 May