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

Vocus Comms (VOC AU): MIRA/​Aware’s Scheme Doc Despatched. EGM On 22 June

ASX200 Index Rebalance: VOCUS Deletion, WOW Spinoff

ASX200 Sep21 Index Rebalance Preview: Large Impact Names

Quiddity Advisors

Event-Driven

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<p>The fifth time's a charm it would seem.</p>
<p>On the 8 February, <a href="https://www.smartkarma.com/entities/vocus-communications-ltd" target="_blank" data-smartkarma-citation="entities:71:1" rel="noopener">Vocus Communications (VOC AU)</a> <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02338721-2A1279035?access_token=83ff96335c2d45a094df02a206a39ff4" target="_blank" rel="noopener">announced</a> it had received an indicative, non-binding proposal from Macquarie Infrastructure and Retail Assets Holdings (MIRA). The proposal was a Scheme at $5.50/share, a 25.6% premium to last close, valuing Vocus at ~A$3.4bn.</p>
<p>This was the fifth approach for Vocus since mid-2017.</p>
<p>MIRA <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02344819-2A1282244?access_token=83ff96335c2d45a094df02a206a39ff4" target="_blank" rel="noopener">entered into</a> a co-operation agreement with Aware Super on the 23 February to progress its proposal for Vocus via a consortium. A day later, Aware/MIRA declared a <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02345789-2A1282787?access_token=83ff96335c2d45a094df02a206a39ff4" target="_blank" rel="noopener">6.59% stake</a>.</p>
<p>Vocus and MIRA/Aware have now <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02351087-2A1285745?access_token=83ff96335c2d45a094df02a206a39ff4" target="_blank" rel="noopener">entered into</a> a Scheme Implementation Deed. The consideration under the Offer remains unchanged at $5.50/share. Vocus' board unanimously recommends the Offer. </p>
<p>The key condition to the Scheme is the shareholder vote, which is expected to be held in June, with payment estimated in July.  This is done and trading tight to terms. </p>
<p>More below the fold.</p>
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The fifth time's a charm it would seem.
On the 8 February, Vocus Communications (VOC AU) announced it had received an indicative, non-binding proposal from Macquarie Infrastructure and Retail Assets Holdings (MIRA). The proposal was a Scheme at $5.50/share, a 25.6% premium to last close, valuing Vocus at ~A$3.4bn.
This was the fifth approach for Vocus since mid-2017.
MIRA entered into a co-operation agreement with Aware Super on the 23 February to progress its proposal for Vocus via a consortium. A day later, Aware/MIRA declared a 6.59% stake.
Vocus and MIRA/Aware have now entered into a Scheme Implementation Deed. The consideration under the Offer remains unchanged at $5.50/share. Vocus' board unanimously recommends the Offer. 
The key condition to the Scheme is the shareholder vote, which is expected to be held in June, with payment estimated in July.  This is done and trading tight to terms. 
More below the fold.






Vocus Comms (VOC AU): MIRA/Aware's Done Deal