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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » AAIC big parcel @ 128 Now in rs.88 At market

AAIC big parcel @ 128 Now in rs.88 At market

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Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
@Harry82 wrote:Around 38 %
mandatory offer will call within this month.

It bought by two different companies?

Harry82


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
may move up above Rs 100.00

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
@maalinda wrote:Germany's DEG, a part of the KfW group

and

FMO, a Dutch development financier

2 parties.

All together 38 % but each has bought around 19%.

i dont see a reason for a Mandatory offer UNLESS this 2 parties connected.

Yes Friend

Harry82


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
boz very very good future Very Happy

troy


Moderator
Moderator
My broker confirmed no Mandatory offer since two parties have bought and a relationship among those is not identifiable. Sorry if any one misguided by my posts and thanks Gaja for saving the day for me. Smile

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
@troy wrote:My broker confirmed no Mandatory offer since two parties have bought and a relationship among those is not identifiable. Sorry if any one misguided by my posts and thanks Gaja for saving the day for me. Smile

Wel Come Friend

If am not mistaken these two investors have long term relationship with Sri Lanka, and if am right there were the share holders of DFCC at the initial stages

Rapaport

Rapaport
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Can anyone elaborate the benefits this can have for Softlogic??

It is a company with substantial debt and their restructuring with their hospitals and now AAIC is a little confusing.

Hmmmmmmmmmmm

Cheers!

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
@Rapaport wrote:Can anyone elaborate the benefits this can have for Softlogic??

It is a company with substantial debt and their restructuring with their hospitals and now AAIC is a little confusing.

Hmmmmmmmmmmm

Cheers!

I feel this transaction also executed with the intention of reducing the debt, also on of this companies giving loan to Softlogic capital with the option to convert as shares in the years to come if am not mistaken.

Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
then why they bought at high price ?

VISA


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
You might be right but read

FMO interim report for 2012. (page 6)

http://www.fmo.nl/investorrelations

They have joint office with DEG in Johannesburg. i assume this is the same DEG your are talking about

What is the definition of connected parties is very interesting



"In the beginning of 2012 FMO opened a joint office with DEG in Johannesburg. Our local presence will strengthen our sourcing capacity and will enhance our service to clients in Southern Africa. During the first half of 2012 we have actively explored opportunities and worked on new initiatives to catalyze funds with other Development Finance Institutions and/or commercial parties which will be continued in the second half of 2012."

Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Parent company is same

salt

salt
Vice President - Equity Analytics
Vice President - Equity Analytics
Establishment cause for mandatory offer is difficult in this case as two entities are not linked officially.

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
@Harry82 wrote:Parent company is same

Friend from where u got this info?

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
@VISA wrote:You might be right but read

FMO interim report for 2012. (page 6)

http://www.fmo.nl/investorrelations

They have joint office with DEG in Johannesburg. i assume this is the same DEG your are talking about

What is the definition of connected parties is very interesting



"In the beginning of 2012 FMO opened a joint office with DEG in Johannesburg. Our local presence will strengthen our sourcing capacity and will enhance our service to clients in Southern Africa. During the first half of 2012 we have actively explored opportunities and worked on new initiatives to catalyze funds with other Development Finance Institutions and/or commercial parties which will be continued in the second half of 2012."

I feel having a joint office is will not lead to say both are related parties, also if they are related parties they must know the impact of acquiring more than 30%

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
http://www.cse.lk/cmt/upload_cse_announcements/251362638960_.pdf

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
So softlogic sheds 38% @ 128... ohhh

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
At about Rs 6 per share profit after holding for more than 1 year. Guess it is better than paying higher interest rates on finance costs.




@smallville wrote:So softlogic sheds 38% @ 128... ohhh

knockknobbler


Manager - Equity Analytics
Manager - Equity Analytics
FMO is from Netherlands and DEG is from Germany. These are Institutions set up respective Governments to to promote industrial growth in developing countries.
I don't think they can be classified as related parties.

In Sri Lanka, both Institutions worked with NDB and DFCC since 1980's. Even in their operations in Sri Lanka they work closely ,and sometimes have funded jointly.

VISA


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
the point is on relation to jurisdiction in Sri lanka. even 2 entities in EU can be single entity in sri lanka. the point is in south Africa they are working like a single entity(that can be also questionable). in Sri lanka it might be or it might be not. That is why definition is important and that is upto our regulators to decide.

Just an opinion

knockknobbler


Manager - Equity Analytics
Manager - Equity Analytics
There is clear evidence to conclude that the two buyers are not related parties ,as per local regulations. .
Prior to this transaction market price of AAIC had been around 80/-s and even after the crossing , not much of a price change at main board. Yesterday's closing was around 84/-.
The crossing took pace at 128/- and if they are connected parties they have to make a mandatory offer at 128/-. The details of the crossing was known to the market yesterday, (to brokers , by 10.00 AM ?) and immediately the price should surge to around 128/-. That didn't happen .That implies there is no mandatory offer, which proves buyers are not related parties as per SEC rules.

If i am wrong , the price should surge to around 128/- today. Watch out !!!
( I assumed 38% is above the threshold for mandatory offer , correct ?)



Last edited by knockknobbler on Fri Mar 08, 2013 9:03 am; edited 1 time in total (Reason for editing : last sentence added .)

stockboy


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
SEC looking for possibilities to call for mandatory offer at AAIC if both INVESTED parties have direct or indirect relationship

knockknobbler


Manager - Equity Analytics
Manager - Equity Analytics
@stockboy wrote: SEC looking for possibilities to call for mandatory offer at AAIC if both INVESTED parties have direct or indirect relationship

If you have credible evidence be watchful,(if you don't mind,tell us also !). If they have to make a mandatory offer the price would be @ 128/-. Now there is a huge price gap.Good opportunity !!!

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