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

CMCDI (133 HK): Buybacks And Management Fees Into Focus

CMCDI (133 HK)'s Proposals Light On Detail

CMCDI (133 HK): Concessions Don't Go Far Enough

CMCDI (133 HK): AGM Outcome May Provide Another Leg-Up

Quiddity Advisors

Event-Driven

China Merchants China Direct Investments / Event-Driven

China Merchants China Direct Investments (133 HK)

<ul>
<li>At the <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0620/2024062000484.pdf" target="_blank" rel="noopener">AGM yesterday</a>, <strong><a href="https://www.smartkarma.com/entities/china-merchants-china-direct-investments" target="_blank" data-smartkarma-citation="entities:6862:1" rel="noopener">China Merchants China Direct Investments (133 HK)</a></strong>'s director Elizabeth Kan was re-appointed, but by a wafer-thin margin: 29.97% of shares out FOR, and 29.44% AGAINST.</li>
<li>Stripping out Victor Chu's stake (~2%?) and China Merchant's (27.6%), or collectively ~29.6% of shares out, it's fair to say the remainder of the shareholder register wants her out. </li>
<li>CMCDI is currently trading at a 55% discount to the latest NAV (as at 31st May 2024) of <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0614/2024061400482.pdf" target="_blank" rel="noopener">HK$30.42/share</a>.  Argyle continues to add to its position. </li>
</ul>


At the AGM yesterday, China Merchants China Direct Investments (133 HK)'s director Elizabeth Kan was re-appointed, but by a wafer-thin margin: 29.97% of shares out FOR, and 29.44% AGAINST.
Stripping out Victor Chu's stake (~2%?) and China Merchant's (27.6%), or collectively ~29.6% of shares out, it's fair to say the remainder of the shareholder register wants her out. 
CMCDI is currently trading at a 55% discount to the latest NAV (as at 31st May 2024) of HK$30.42/share.  Argyle continues to add to its position. 


CMCDI (133 HK): Kan Re-Elected. But Only Just