Author: tfwee

 

Thomson – SGX

PRIVATE INVESTOR PETER LIM MAKES GENERAL OFFER FOR THOMSON MEDICAL CENTRE LIMITED

Offer at $1.75 a share triggered by deal to buy Cheng family’s controlling stake Offer values Thomson Medical Centre at approximately $513 million

29 October 2010, Singapore – Sasteria Pte Ltd, an investment holding company controlled by private investor Peter Lim, today said it is making a mandatory conditional cash offer for SGX mainboard-listed Thomson Medical Centre Limited (Thomson Medical).

The mandatory conditional offer is triggered by a married deal between Sasteria and the largest shareholder and founder of Thomson Medical, Dr Cheng Wei Chen and his family. Under the deal, the latter sold their 39.34% stake in Thomson Medical to the former at the offer price of S$1.75 a share.

Under the Singapore Code on Takeovers and Mergers, the cash offer will be extended to the remaining issued shares and is conditional on Sasteria acquiring more than 50% of Thomson Medical.

The offer price of $1.75 represents a 62% premium over the last traded price of Thomson Medical, and values the company at approximately $513 million. It is also the highest share price the company has ever been valued at since it went public in 2005.

Mr Peter Lim said: “Thomson Medical is a leading healthcare service provider in Singapore for obstetrics, gynaecology and paediatric services. Given the growing population and affluence in the region, there will be increasing demand for private healthcare services. Singapore is a regional hub for such services  and Thomson Medical is well-placed to tap on this demand. We believe it has potential to develop further as a regional healthcare company.”

Thomson – SGX

PRIVATE INVESTOR PETER LIM MAKES GENERAL OFFER FOR THOMSON MEDICAL CENTRE LIMITED

Offer at $1.75 a share triggered by deal to buy Cheng family’s controlling stake Offer values Thomson Medical Centre at approximately $513 million

29 October 2010, Singapore – Sasteria Pte Ltd, an investment holding company controlled by private investor Peter Lim, today said it is making a mandatory conditional cash offer for SGX mainboard-listed Thomson Medical Centre Limited (Thomson Medical).

The mandatory conditional offer is triggered by a married deal between Sasteria and the largest shareholder and founder of Thomson Medical, Dr Cheng Wei Chen and his family. Under the deal, the latter sold their 39.34% stake in Thomson Medical to the former at the offer price of S$1.75 a share.

Under the Singapore Code on Takeovers and Mergers, the cash offer will be extended to the remaining issued shares and is conditional on Sasteria acquiring more than 50% of Thomson Medical.

The offer price of $1.75 represents a 62% premium over the last traded price of Thomson Medical, and values the company at approximately $513 million. It is also the highest share price the company has ever been valued at since it went public in 2005.

Mr Peter Lim said: “Thomson Medical is a leading healthcare service provider in Singapore for obstetrics, gynaecology and paediatric services. Given the growing population and affluence in the region, there will be increasing demand for private healthcare services. Singapore is a regional hub for such services  and Thomson Medical is well-placed to tap on this demand. We believe it has potential to develop further as a regional healthcare company.”

SPAUSNET – SGX

AER rejects significant price rises by Victorian electricity distributors. SPAUSNET is one for the electricity distributors.

For more detail, click here

SPAUSNET – SGX

AER rejects significant price rises by Victorian electricity distributors. SPAUSNET is one for the electricity distributors.

For more detail, click here

SPAUSNET-BT

SP Ausnet files defence in Victoria, Australia

SP AusNet said on Friday that it has filed its defence with the Supreme Court of Victoria concerning the Feb 7, 2009, Black Saturday bushfire known as the Kilmore East fire.

SP AusNet denies it was negligent and claims that its conduct was at all times reasonable as well as in compliance with technical regulations.

The company is facing a class action with more than 600 claimants against it. The action claims that proper maintenance and correctly identifying a damaged power line could have avoided the Kilmore East fire.

SP AusNet has also made counterclaims against several parties: the Department of Sustainability and Environment, the State of Victoria (Victoria Police), the Country Fire Authority and a contracted inspector of electricity assets.

The purpose of the counterclaim is to join other parties where they may be relevant to the Court's consideration of the causes and consequences of the Kilmore East fire.

If SP AusNet's defence of the claim is successful, the counterclaim will become irrelevant and will not be pursued.