PES pepper residential securities trust no. 21

there will be no other offers for pes

  1. 6,942 Posts.
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    There almost certainly will not be a competeing bid for PES.
    Assuming the relative % s/h remain unchanged as a result of the conversion of the Options, the acceptnaces so far are:
    Arrow - 17% approx
    Shell - 14.88%
    PES Independent Directors commitment - 11%
    Large s/h commitments - 8%

    That's 50.88% before the Takeover offer has even been printed!

    The only possible upside to the current bid is if some other s/h hold out, and AOE does not reach the 90% compulsory acquisition threshold.

    I have held the shares since IPO, and I intend to accept.

    The beauty of this offer is that we can get the CMV (pre-offer) in cash (ie $2.70), then still have a bigger number of AOE shares in our portolio.

    So we stll have exposure to the CSG big movers!

    A great result !!!

    cheers
 
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