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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » PAP will take over by Hemas Power

PAP will take over by Hemas Power

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1PAP will take over by Hemas Power  Empty PAP will take over by Hemas Power Fri Mar 15, 2013 8:45 pm

stockboy


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
HP WILL TAKE OVER PAP BY NEXT WEEK AT PRICE AROUND RS 3 AND 3.5.I HEARD THAT AGREEMENT HAS ALREADY SIGN . HEMAS WILL BUY AROUND 30% OF PAP AS FIRST STEP.

2PAP will take over by Hemas Power  Empty Re: PAP will take over by Hemas Power Fri Mar 15, 2013 9:02 pm

keeper

keeper
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Are you sure....?WOW good news

3PAP will take over by Hemas Power  Empty Re: PAP will take over by Hemas Power Fri Mar 15, 2013 9:04 pm

salt

salt
Vice President - Equity Analytics
Vice President - Equity Analytics
Will there be a mandatory offer?

4PAP will take over by Hemas Power  Empty Re: PAP will take over by Hemas Power Fri Mar 15, 2013 9:10 pm

stockboy


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
I DONT THINK AT FIRST STAGE THEY WILL TAKE 29.5% AT FIRST STAGE HOWEVER SHARE CAN BE MOVE DONT PANIC WAIT FOR THE ANNOUNCEMENT BY MONDAY

5PAP will take over by Hemas Power  Empty Re: PAP will take over by Hemas Power Fri Mar 15, 2013 9:43 pm

keeper

keeper
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
If it true Stockboy will GOODBOY.... Embarassed

6PAP will take over by Hemas Power  Empty Re: PAP will take over by Hemas Power Fri Mar 15, 2013 10:45 pm

Arena


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
I know it was for sale unofficially. but i dont know about Hemas.........The IPO was managed by kenanga investments..........They know the story........

7PAP will take over by Hemas Power  Empty Re: PAP will take over by Hemas Power Fri Mar 15, 2013 11:17 pm

traderathome

traderathome
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@stockboy wrote: I DONT THINK AT FIRST STAGE THEY WILL TAKE 29.5% AT FIRST STAGE HOWEVER SHARE CAN BE MOVE DONT PANIC WAIT FOR THE ANNOUNCEMENT BY MONDAY
http://en-rules.sfc.hk/en/display/display.html?rbid=3527&element_id=1711

8PAP will take over by Hemas Power  Empty Re: PAP will take over by Hemas Power Fri Mar 15, 2013 11:41 pm

traderathome

traderathome
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
If the TO is true and that an announcement will be made it seems 3.30 was the highest price during the last 12 months.

So people would want to push it to 3.5 plus right ? because there are others who have bought at higher price before 1 year.

Can any 1 shed some light on this ?

TAH

9PAP will take over by Hemas Power  Empty Re: PAP will take over by Hemas Power Fri Mar 15, 2013 11:48 pm

traderathome

traderathome
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
5. U.K. Style Takeover Rules – Mandatory
Bid – Tender Offer (The City Code)
• Rule 1 Mandatory Bid: Trigger: dominant shareholder
has already reached dominant position:
a) by buying gradually in the market or
b) by buying a dominant stake in a private deal
he must make an offer (bid) to all shareholders at the
highest price he has paid during the last year (not lower
than 6 months average)
Result: the mandatory bid treats all shareholders equal
to the highest price-seller (equal to the old dominant
shareholder)

10PAP will take over by Hemas Power  Empty Re: PAP will take over by Hemas Power Fri Mar 15, 2013 11:49 pm

mark

mark
Expert
Expert
haha smallville going to win Very Happy

11PAP will take over by Hemas Power  Empty Re: PAP will take over by Hemas Power Sat Mar 16, 2013 12:11 am

traderathome

traderathome
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
I am sure smallv is calculating the target prices .... Very Happy

12PAP will take over by Hemas Power  Empty Re: PAP will take over by Hemas Power Sat Mar 16, 2013 5:39 am

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
Stockboy,
Thanks for the news but please do not type everything in CAPS to go by forum rules.




@stockboy wrote: I DONT THINK AT FIRST STAGE THEY WILL TAKE 29.5% AT FIRST STAGE HOWEVER SHARE CAN BE MOVE DONT PANIC WAIT FOR THE ANNOUNCEMENT BY MONDAY

13PAP will take over by Hemas Power  Empty Re: PAP will take over by Hemas Power Sat Mar 16, 2013 7:45 am

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@stockboy wrote: HP WILL TAKE OVER PAP BY NEXT WEEK AT PRICE AROUND RS 3 AND 3.5.I HEARD THAT AGREEMENT HAS ALREADY SIGN . HEMAS WILL BUY AROUND 30% OF PAP AS FIRST STEP.

I don't think it will be at the above price. If it does occur I will not be surprised as the talks have been on for a long time.

However note that PAP was an extreme disappointment as the top shareholders and directors sold a lot at 8-9/=. Even Emagewise bought at 6/= and sold at 8-9/=.
Even the respected Deepal Sooriyaratchi sold his block at 8/=. Now the Berhad owns 23% with retailers owning 70+% of the stock. If a mandatory occurs, I doubt it will achieve anything given the holding loss of the current 70%. Shocked

---------------------------------------------------------------------

Closer look at Power:

I know most of you are big time speculators but I will tell you why this will occur at some point in time. You see SL has about 250 small power producers. The CEB brought out an agreement on Small Power Producers that makes the below 10MW ones run at losses. The above 10 MW can negotiate the terms of the contract.

PAP has the agreement till 2023 and hence you can't expect too much in the projections.

http://www.pucsl.gov.lk/english/wp-content/themes/pucsl/pdfs/Licensee-List.pdf



See the attachment above to see the entire list. Consolidation has to occur.


14PAP will take over by Hemas Power  Empty Re: PAP will take over by Hemas Power Sat Mar 16, 2013 8:05 am

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
@rainmaker wrote:
@stockboy wrote: HP WILL TAKE OVER PAP BY NEXT WEEK AT PRICE AROUND RS 3 AND 3.5.I HEARD THAT AGREEMENT HAS ALREADY SIGN . HEMAS WILL BUY AROUND 30% OF PAP AS FIRST STEP.

I don't think it will be at the above price. If it does occur I will not be surprised as the talks have been on for a long time.

However note that PAP was an extreme disappointment as the top shareholders and directors sold a lot at 8-9/=. Even Emagewise bought at 6/= and sold at 8-9/=.
Even the respected Deepal Sooriyaratchi sold his block at 8/=. Now the Berhad owns 23% with retailers owning 70+% of the stock. If a mandatory occurs, I doubt it will achieve anything given the holding loss of the current 70%. Shocked

---------------------------------------------------------------------

Closer look at Power:

I know most of you are big time speculators but I will tell you why this will occur at some point in time. You see SL has about 250 small power producers. The CEB brought out an agreement on Small Power Producers that makes the below 10MW ones run at losses. The above 10 MW can negotiate the terms of the contract.

PAP has the agreement till 2023 and hence you can't expect too much in the projections.

http://www.pucsl.gov.lk/english/wp-content/themes/pucsl/pdfs/Licensee-List.pdf



See the attachment above to see the entire list. Consolidation has to occur.



Yes Hemas is looking for the companies, but i don't think they will buy a company, unless they are certain they can take the control the management

15PAP will take over by Hemas Power  Empty Re: PAP will take over by Hemas Power Sat Mar 16, 2013 8:10 am

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
I will also add that PAP has 10MW capacity (though it does not operate at this). 10MW is 10,000 KWH which someone can compute.

However the gain is not on the electricity you sell but the capital cost rebate that the CEB will give you. There is a detailed document for those who want to see it.

http://www.pucsl.gov.lk/english/uncategorized/sample-event/

16PAP will take over by Hemas Power  Empty Re: PAP will take over by Hemas Power Sat Mar 16, 2013 8:14 am

knockknobbler


Manager - Equity Analytics
Manager - Equity Analytics
@rainmaker wrote:
@stockboy wrote: .
.......................
. You see SL has about 250 small power producers. The CEB brought out an agreement on Small Power Producers that makes the below 10MW ones run at losses.
............................
Would you please clarify the above statement ?
On what basis, did you arrive at that conclusion ..."run at losses " ?

17PAP will take over by Hemas Power  Empty Re: PAP will take over by Hemas Power Sat Mar 16, 2013 8:16 am

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Gaja wrote:
@rainmaker wrote:
@stockboy wrote: HP WILL TAKE OVER PAP BY NEXT WEEK AT PRICE AROUND RS 3 AND 3.5.I HEARD THAT AGREEMENT HAS ALREADY SIGN . HEMAS WILL BUY AROUND 30% OF PAP AS FIRST STEP.

I don't think it will be at the above price. If it does occur I will not be surprised as the talks have been on for a long time.

However note that PAP was an extreme disappointment as the top shareholders and directors sold a lot at 8-9/=. Even Emagewise bought at 6/= and sold at 8-9/=.
Even the respected Deepal Sooriyaratchi sold his block at 8/=. Now the Berhad owns 23% with retailers owning 70+% of the stock. If a mandatory occurs, I doubt it will achieve anything given the holding loss of the current 70%. Shocked

---------------------------------------------------------------------

Closer look at Power:

I know most of you are big time speculators but I will tell you why this will occur at some point in time. You see SL has about 250 small power producers. The CEB brought out an agreement on Small Power Producers that makes the below 10MW ones run at losses. The above 10 MW can negotiate the terms of the contract.

PAP has the agreement till 2023 and hence you can't expect too much in the projections.

http://www.pucsl.gov.lk/english/wp-content/themes/pucsl/pdfs/Licensee-List.pdf



See the attachment above to see the entire list. Consolidation has to occur.



Yes Hemas is looking for the companies, but i don't think they will buy a company, unless they are certain they can take the control the management

I can't totally agree with this. PAP is a serious power producer. The Senok and the other ones are affiliated to some PEPs with connections to the top. They won't sell out.

The mistake the CEB was the national grid concept that meant that Country load must be taken on by everyone. What is better is regional load coming from regional power producers (like Jaffna during the wartime). The current system results in wastage as power from Moneragala is nothing when it comes to Colombo ---> power is lost in transmission

18PAP will take over by Hemas Power  Empty Re: PAP will take over by Hemas Power Sat Mar 16, 2013 8:21 am

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@knockknobbler wrote:
@rainmaker wrote:
@stockboy wrote: .
.......................
. You see SL has about 250 small power producers. The CEB brought out an agreement on Small Power Producers that makes the below 10MW ones run at losses.
............................
Would you please clarify the above statement ?
On what basis, did you arrive at that conclusion ..."run at losses " ?

See my other post about the revised tarrif in Nov 2012. Anyway I think PUCSL wants to reduce the rebates given for capital costs.

This is because a few people just put pathetic turbines across a small catchment to produce electricity. They got nothing much by selling 1 MW but they got massive capital cost rebates by quoting ridiculous figures for building them............

Have you noticed that the PAP stated capital (capital raised from the IPO + initial capital) is very close to the capital raised from the IPO -> initial capital outlay to set up PAP was not as high Wink

19PAP will take over by Hemas Power  Empty Re: PAP will take over by Hemas Power Sat Mar 16, 2013 8:39 am

Kithsiri

Kithsiri
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@keeper wrote:If it true Stockboy will GOODBOY.... Embarassed
If it is not true, then how would you call him ? Shocked

20PAP will take over by Hemas Power  Empty Re: PAP will take over by Hemas Power Sat Mar 16, 2013 8:48 am

stockboy


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
I AM SURE THAT MANDATORY OFFER WILL NOT TRIGGER AT THIS STAGE . HP WILL BUY LESS THAN 29.5% .

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