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

Golden Throat (6896 HK): This One Left A Bitter Aftertaste

Asian Dividend Gems: Golden Throat Holdings

Golden Throat (6896 HK): Affirma and Founder Group Cough Up

Quiddity Advisors

Event-Driven

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<p>On the 12 August  <a href="https://www.smartkarma.com/entities/golden-throat-holdings-group" target="_blank" data-smartkarma-citation="entities:22664:1" rel="noopener">Golden Throat Holdings (6896 HK)</a>, a leading manufacturer of lozenges in China,  <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0812/2021081200754.pdf" target="_blank" rel="noopener">announced</a> an Offer from PE outfit Affirma, by way of a Scheme, at HK$2.80/share, a 55.6% premium to the undisturbed price. The Offer Price would not be increased. </p>
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<p>Both the Founder Group (61.33% of shares out) and Rollover Shareholders (12.57%) have given Affirma irrevocables, but all will need to abstain from voting at the Court Meeting.</p>
<p>This Offer looked done and the gross spread has been gradually declining over time. </p>
<p>The Scheme Document is now <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2021/1029/2021102900193.pdf" target="_blank" rel="noopener">out</a>. The Court Meeting will be held on the 30 November with expected payment on the 21 December, one week earlier than my initial forecast. The IFA considers the Offer to be fair and reasonable. </p>
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<p>More below the fold.</p>
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On the 12 August  Golden Throat Holdings (6896 HK), a leading manufacturer of lozenges in China,  announced an Offer from PE outfit Affirma, by way of a Scheme, at HK$2.80/share, a 55.6% premium to the undisturbed price. The Offer Price would not be increased. 


Both the Founder Group (61.33% of shares out) and Rollover Shareholders (12.57%) have given Affirma irrevocables, but all will need to abstain from voting at the Court Meeting.
This Offer looked done and the gross spread has been gradually declining over time. 
The Scheme Document is now out. The Court Meeting will be held on the 30 November with expected payment on the 21 December, one week earlier than my initial forecast. The IFA considers the Offer to be fair and reasonable. 


More below the fold.


Golden Throat (6896 HK): Scheme Doc Out. Court Meeting On 30 November