Dutech -- will there be higher takeover offer?

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06 Jul 2021 08:03 - 06 Jul 2021 08:09 #25805 by BNN
Dutech privatisation:
1. 2 independent directors -- Dr Hedda Juliana im Brahm-Droege and Mr Christoph Hartmann -  disagree with IFA recommendation to accept 40-cent offer. Too low lah.
Both are  connected to the Droege Group.

2. Droege Capital GmbH holds 8.8%, and is a stumbling block to delisting by the Offeror (ie CEO Dr Liu). Another subst. shareholder Robert Stone holds 6.5%. 

Together they can block the privatisation by preventing Offeror from achieving 90% threshold.

Many shaeholders not happy either. Just look at the low acceptance offer as at 22 June 2021 -- only 46.19% takeup, including controlling shareholder.  U know 40 cents is not going to cut it.

3. The Offeror has explicitly stated it does not intend to maintain the listing status of the Company. 

4. Likely, in my view, Offeror will nego with Droege and agree on a higher offer price. This potential offer price (45 cents? 50 cents? 55 cents? ) will then apply to all other shareholders.  Hoping... dyor

Currently the closing date is 5.30 p.m. (Singapore time) on 16 July 2021. It can be extended by Offeror
Last edit: 06 Jul 2021 08:09 by BNN.

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13 Jul 2021 12:30 #25814 by BNN
Offer document states, offer closing date is 16 July but it will remain open for another 14 days. (So that takes us to the end of July!)

Also, any revision to offer price will apply to all who have accepted the (lowball) offer of 40 cents. 

 

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13 Jul 2021 14:34 #25815 by hh488
Notice share price still stuck at around 40 ct.  If likely to re-neg again, there should be momentum to drive the price higher, say 45-50 ct.  How come not?

 

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14 Jul 2021 13:51 #25817 by BNN
Some people are buying 40.5 cents , even 41 cents on the belief that Droeger & Robert Stone will nego with Dutech CEO for a higher price. The 2 own 15% , can block privatisation plan of CEO.

If offer price is raised from 40 cents, the higher price will be applicable to every shareholder, even those who have accepted the offer.  

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15 Jul 2021 23:11 #25819 by Joes
Offeror has given a final price of 43.5 cents. Lower than i expected but it's still a nice 7+% gain for a couple of days of owning the stock.

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