Sending strong signals to SML minority that Temasek is not your Ah Kong to provide them Milk and can walk away without bailing SML out. Let SML files for restructuring protection. LoL
In connection with the Invocation of MAC Announcement, Keppel would like to make the following comments.
The Partial Offer was unsolicited. Keppel did not negotiate the terms of the Partial Offer including the MAC Pre-Condition. If the Partial Offer had been made, it would have involved the purchase of Shares from Offer Shareholders (as referred to in paragraph 3.1.2 of the Pre-Conditional Partial Offer Announcement). As set out in paragraph 2.3 of the Pre-Conditional Partial Offer Announcement, there was no certainty that the Pre-Conditions would be satisfied and/or waived and that the Partial Offer would be made.
Keppel has announced its Vision 2030 to guide the long-term strategy and transformation of the Company.
We continue to believe in the inherent value of Keppel’s business, and have a strong balance sheet and support from our network of banks to finance the Group’s operations and growth initiatives. We will continue to execute our Vision 2030 to realise the full value of the Company for all our stakeholders. Notwithstanding the withdrawal of the Partial Offer, we intend to engage Temasek, which remains our single largest shareholder, to explore opportunities for strategic collaboration.
FH landbank by ex Keppel Land. Current Kep Corp CEO is smart to take Keppel Land private and share goodies with Kep Corp shareholders only. Ex Keppel Land shareholders also happy with advance cash proceed. Win-win!
Stormy days ahead for Kep Corp
ReplyDeleteSomebody at Temasek finally woke up ... or came back from staycation. No need wait till 31 Aug LOL!
ReplyDeleteOr even to see the circus tomorrow at SCM EGM.
Sending strong signals to SML minority that Temasek is not your Ah Kong to provide them Milk and can walk away without bailing SML out. Let SML files for restructuring protection. LoL
DeleteI think 3 to 5 percent drop?
ReplyDeleteOver a longer period, I think 10 to 15 percent drop
Keep ready for roller coaster ride
Fri close at 5.4, today open 4.8 something.. now 4.8. So 11 % drop!
DeleteKep Corp CEO and Board can proceed with their Vision 2030 without Temasek coming in to disrupt their original Vision 2030
ReplyDeleteThe response from Kep Corp :
DeleteIn connection with the Invocation of MAC Announcement, Keppel would like to make the following
comments.
The Partial Offer was unsolicited. Keppel did not negotiate the terms of the Partial Offer including the MAC Pre-Condition. If the Partial Offer had been made, it would have involved the purchase of Shares from Offer Shareholders (as referred to in paragraph 3.1.2 of the Pre-Conditional Partial Offer Announcement). As set out in paragraph 2.3 of the Pre-Conditional Partial Offer Announcement, there was no certainty that the Pre-Conditions would be satisfied and/or waived and that the Partial Offer would be made.
Keppel has announced its Vision 2030 to guide the long-term strategy and transformation of the Company.
We continue to believe in the inherent value of Keppel’s business, and have a strong balance sheet and support from our network of banks to finance the Group’s operations and growth initiatives. We will continue to execute our Vision 2030 to realise the full value of the Company for all our stakeholders. Notwithstanding the withdrawal of the Partial Offer, we intend to engage Temasek, which remains our single largest shareholder, to explore opportunities for strategic collaboration.
FH landbank by ex Keppel Land. Current Kep Corp CEO is smart to take Keppel Land private and share goodies with Kep Corp shareholders only. Ex Keppel Land shareholders also happy with advance cash proceed. Win-win!
ReplyDelete