ADAMPAK

Goodbye Adampak, you have been a good solid pal.

Navis Capital launches S$110.7 million cash offer for Adampak Limited.

Navis is offering S$0.42 for each share of Adampak

My guru is not going to sell in the open market where the bid-sell is 41.5-42 cents.
Wait until ex-d on May 8, just 1 more month. Collect dividend first.
The bid-sell after x-d is likely to be 41.5-42.

In a more refined scenario, Navis will move up the bid-sell to 42.5-43 closer to May 8, and then drop it to 41.5-42 after x-d.

1 cent for holding 1 month is about 28% annualised return. No small beer.

There is a 1-cent final dividend going ex-d in May. If one were to hold on to shares in order to be entitled to the 1-c final dividend, does one then get only 41 cents when accepting the takeover offer from Navis?

Or is it still 42 cents -- the headline number? Any one can clarify this?

Yeh, I hold pacific shipping trust b4 they get privatised. What happens is they adjust their offer price downwards to reflect the dividends given out. Guess its the same for Adampak.

Thanks for your sharing, greenrookie. I wonder why don't Navis & their financial adviser & Adampak spell things out clearly in the takeover announcement?

Only 512,000 shares were traded yesterday --- & there were a no. of shares that were bought up at 42 cents which means the buyer is highly unlikely tobe Navis.

In any case, the cumulative total traded since lifting of trading halt is pathetic. I  think this is way below the expectations of Navis. Thus it is increasingly likely Navis will have to up the offer price. Anyone has same view?