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

Dragon Crown (935 HK): Offeror's IFA Report

Dragon Crown (935 HK): Offer Open To Acceptances

Quiddity Advisors

Event-Driven

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<p>Liquid chemical storage and handling outfit <a href="https://www.smartkarma.com/entities/dragon-crown-group-holdings" target="_blank" data-smartkarma-citation="entities:18919:1" rel="noopener">Dragon Crown Group (935 HK)</a> (DCG) has <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2021/1008/2021100801167.pdf" target="_blank" rel="noopener">announced</a> a pre-conditional Offer from <a href="https://www.smartkarma.com/entities/guangdong-great-river-smarter" target="_blank" data-smartkarma-citation="entities:27110:1" rel="noopener">Guangdong Great River Smarter (002930 CH)</a> (GGRS).</p>
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<p>The Offer price is HK$1.28/share, a 8.47% premium to last close, and a 20.75% premium to the average closing price over the previous 60 trading days. The Offer price will NOT be increased. No dividends are expected to be declared. </p>
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<p>The pre-conditions, which cannot be waived, include approvals from NDRC, MoC, SAFE, the Shenzhen Stock Exchange, plus shareholder approval from GGRS.</p>
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<p>The key condition to the Offer is valid acceptances of not less than 90% of shares out. Irrevocables totalling 86.91% (primarily from Ng Wai Man, the founder, chairman &amp; CEO) have been received, therefore this requires a further 3.09% to get over the line.</p>
<p>This appears a relatively clean deal. The Long Stop date for the pre-cons is the 9 February 2022.</p>
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<p>More below the fold.</p>
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Liquid chemical storage and handling outfit Dragon Crown Group (935 HK) (DCG) has announced a pre-conditional Offer from Guangdong Great River Smarter (002930 CH) (GGRS).


The Offer price is HK$1.28/share, a 8.47% premium to last close, and a 20.75% premium to the average closing price over the previous 60 trading days. The Offer price will NOT be increased. No dividends are expected to be declared. 


The pre-conditions, which cannot be waived, include approvals from NDRC, MoC, SAFE, the Shenzhen Stock Exchange, plus shareholder approval from GGRS.


The key condition to the Offer is valid acceptances of not less than 90% of shares out. Irrevocables totalling 86.91% (primarily from Ng Wai Man, the founder, chairman &amp; CEO) have been received, therefore this requires a further 3.09% to get over the line.
This appears a relatively clean deal. The Long Stop date for the pre-cons is the 9 February 2022.


More below the fold.


Guangdong Great River Smarter Logistics (002930 CH)

Dragon Crown (935 HK)'s VGO Is A Done Deal