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Post by zuolun on Apr 27, 2015 15:50:50 GMT 7
Pacific Century ~ Ascending Triangle BreakoutPacific Century closed with an inverted hammer @ S$0.39 (+0.02, +5.4%) with 16.9m shares done on 24 Apr 2015.  Pacific Century (Weekly) ~ The Elliott Wave pattern Pacific Century (monthly) ~ Rising Wedge
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Post by roberto on May 3, 2015 14:52:50 GMT 7
Interesting developments here. Even though I'm sidelined I can feel the excitement. It seems like people are really starting to get greedy, especially if their game is a de-list offer. It's not in Li's interest to de-list at even higher prices. The stock also seems rather "cornered", and where it ends up from here is hard to say.
Fantastic profits for those who were early in the game. Good entertainment for those who want a show to watch. On-the-edge adrenaline for the ones who just boarded this train.
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Post by zuolun on Jun 3, 2015 13:00:14 GMT 7
Pacific Century: Open Letter to Board of Directors regarding recent share repurchasesAscapia Capital Pte Ltd 350 Orchard Road, #21-06 Singapore 238868 Singapore 26 May 2015 Board of Directors Pacific Century Regional Developments Limited 50 Raffles Place #35-01 Singapore Land Tower Singapore 048623 Open Letter to Board of Directors regarding recent share repurchasesDear Board, It has become apparent to us that Pacific Century Regional Developments ("PCRD") has been aggressively buying back its shares over the past few weeks, with an acquisition of 103,000 and 474,100 shares at $0.405 on 29 April 2015 and 15 May 2015 respectively, 3,137,500 shares at $0.415 to $0.425 on 20 May 2015, and 3,151,700 shares at $0.44 to $0.445 on 22 May 2015. While buying-back shares at less than intrinsic value is accretive to all shareholders, the company is reducing its free-float rapidly and will soon be at risk of breaching the 10% free-float requirement imposed by the Singapore Stock Exchange, and be required to delist the company. We believe that it is your intention to delist the company. If it is indeed your intention, we would like to request for the Board of Directors to consider to offer minority shareholders a truly fair price for their shareholdings. Precedent transactions in Singapore indicate that minority shareholders are often ignored during the delisting process. Acquirers in Singapore often appoint an “independent” financial advisor to justify the price that they want to pay and minorities often lack the resources to dispute the outcome, even though they have received an inequitable bargain. The valuation of PCRD can easily be computed by any competent analyst, as most of its assets are in liquid publicly-listed stocks such as PCCW Limited and HKT Trust. Our calculations have led us to believe that PCRD is worth at least $0.57 per share or a premium of 28% to the last on-market purchase you made on 22 May 2015. With only 14% of the freefloat outstanding, the company would only be paying a premium of $50 million for rewarding minorities shareholdings for investing alongside you for all these years. We believe that a decision by the company or its acquirers to repurchase the outstanding freefloat for a truly fair price would send a positive message to the markets that corporate governance and minority shareholders do matter to PCRD and its controlling shareholders. Sincerely, Wesley Widjaja
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