Author Topic: ULEVER -- UNILEVER Pakistan Limited.  (Read 27777 times)

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Offline SBM

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Re: ULEVER -- UNILEVER Pakistan Limited.
« Reply #59 on: August 13, 2013, 11:38:53 AM »

Offline SBM

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Re: ULEVER -- UNILEVER Pakistan Limited.
« Reply #60 on: March 29, 2013, 10:23:09 AM »
http://www.kse.com.pk/notices-updates/detail2.php?id=4&nid=042511


laooo 15k!

Within how much time company will buy back ULEVER shares from market... any idea???
Is it good to buy it around 12000???

Ulever has to respond to this price first.
If they agree, then they will announce a buy back time period.
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Offline Farzooq

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Re: ULEVER -- UNILEVER Pakistan Limited.
« Reply #61 on: March 29, 2013, 11:24:39 AM »
Unilever Pakistan (ULEVER): Unilever Buy Back and its implication on peers

   In a latest development regarding share buy-back and subsequent delisting of Unilever Pakistan Limited (ULEVER), the Committee formed by the KSE’s Board has recommended a minimum purchase price of PKR15,000/sh as against the sponsors’ offer price of PKR9,700/sh (up by massive 55%)

   If UOH refuses to accept the fixed purchase price of PKR15,000, Listing Regulations provide them the right to appeal this decision to Securities and Exchange Commission (SECP) within 10 days of the date of refusal

   Based on PE and PS multiples of top tier high market-cap peers only, the average TP is computed at PKR16,593/sh. Thus, relatively speaking with large cap and close comparables, any buy-back price should be at a premium to PKR16,600/sh

   Minority shareholders have already shown their dismay (according to news reports) at the buy back price offered by UOH, with two foreign funds knocking on KSE’s door to allow direct negotiations between UOH and minority shareholders

   Key local shareholders include MCB Bank with 79k shares (PKR1.2bn value at PKR15,000/sh) and Adamjee Insurance (AICL) with 26k shares (PKR395mn value)

   With total offer size likely to range between PKR32.3bn-49.9bn (for minorities only), the minority shareholders including local corporates and general public may look to redeploy proceeds from delisting into comparable FMCG and food producer companies
 
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Offline irfman

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Re: ULEVER -- UNILEVER Pakistan Limited.
« Reply #62 on: March 30, 2013, 08:39:27 AM »
http://www.kse.com.pk/notices-updates/detail2.php?id=4&nid=042511


laooo 15k!

Within how much time company will buy back ULEVER shares from market... any idea???
Is it good to buy it around 12000???

Ulever has to respond to this price first.
If they agree, then they will announce a buy back time period.

i bought 25 shares at a price of PKR  12,487.85 per share. Do let me know if this is a good price and should i hold it till de-listing offer is finalized. What will be the price appreciation in coming days

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Offline Sharjeel

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Re: ULEVER -- UNILEVER Pakistan Limited.
« Reply #64 on: March 30, 2013, 03:25:19 PM »
Neither Buy Back "Price" nor "Intention of the Company to de-list" is "Irrevocable". Therefore there are more than no chances that either the price may not be accepted or the decision to de-list is taken back all together.

One cannot ignore the proceedings up till now in this case but, above risks should be considered before taking any investment decision.

This is my personal opinion one may disagree.

Offline Zain

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Re: ULEVER -- UNILEVER Pakistan Limited.
« Reply #65 on: April 02, 2013, 11:55:29 AM »
The Arisaig Asia Consumer Fund, another minority shareholder of Unilever Pakistan, has written a letter to the Managing Director Karachi Stock Exchange, requesting that the delisting of the company should not be allowed.

‘In our view, the KSE should reject the proposed delisting because we feel the offer is disadvantageous to minority interests in the company; disadvantageous to the KSE; and potentially disadvantageous to Pakistan’s national finances,’ stated Lindsay Cooper in the letter to the KSE and SECP.

 

Similarly, he added, the offer was also disadvantageous to the KSE because it was clear that the controlling shareholder was looking to privatise the company at that cheap valuation because it felt it could be due to the fact that delisting rules in Pakistan were more lenient than they were elsewhere.

 

“In Pakistan, only 75 percent of all votes at an annual general meeting are required to pass a delisting resolution. In this case, the controlling shareholder already owns 75 percent of the company’s shares. Minority interests are clearly disadvantaged as their objections carry no weight in such circumstances,” he reasoned.


http://www.thenews.com.pk/Todays-News-3-168790-Unilevers-delisting-opposed

Offline M&M

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Re: ULEVER -- UNILEVER Pakistan Limited.
« Reply #66 on: April 02, 2013, 07:19:46 PM »
"The only true wisdom is in knowing you know nothing." - Socrates

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Offline irfman

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Re: ULEVER -- UNILEVER Pakistan Limited.
« Reply #67 on: April 02, 2013, 08:11:49 PM »
:dunno:

Bro, can u let me know what does this notice mean

http://dps.kse.com.pk/notices-updates/detail2.php?id=4&nid=042641


i) if unilever is acquiring all outstanding shares (As mentioned in the subject of the notice) then why only 199,400 shares would be purchased under the delisting arrangement. what will happen to the rest of the shares?

ii) supposedly, a share holder abstains from selling the shares to unilever, then what would happen to the holding of that shareholder. would they continue to get dividends and how would the market price of the share be determined when one chooses to sell the shares at a later stage.

iii) what would be your advice to common shareholder? whether to accept the offer or otherwise

appreciate your usual assistance.

Offline amman177

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Re: ULEVER -- UNILEVER Pakistan Limited.
« Reply #68 on: April 03, 2013, 02:22:35 PM »
Kia ulever XD hone k baad bhi 15000 p hi rahe ga??????

Offline irfman

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Re: ULEVER -- UNILEVER Pakistan Limited.
« Reply #69 on: May 01, 2013, 09:12:13 AM »
KASB Securities, an investment bank, has been appointed manager for the transaction valued at just over $500 million. Unilever will be paying its minority shareholders Rs15,000 per share, a 55% premium over its original offer of Rs9,700 per share.

The offering will remain valid from May 3 to July 1, inclusive, following which Unilever Pakistan will stand automatically delisted from all three stock exchanges in the country. Any shareholder who declines to sell will then become the shareholder in an unlisted company, a powerful motivator for virtually all minority shareholders to sell, including those opposed to the delisting.

http://tribune.com.pk/story/542620/delisting-process-unilever-appoints-kasb-to-manage-share-buy-back/

What is the difference in the rights of shareholders in public listed and unlisted company? Shareholder in both these scenarios will continue to get dividend so what's the hitch then?
« Last Edit: May 01, 2013, 01:00:44 PM by irfman »

Offline momo

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Re: ULEVER -- UNILEVER Pakistan Limited.
« Reply #70 on: May 01, 2013, 11:43:37 AM »
KASB Securities, an investment bank, has been appointed manager for the transaction valued at just over $500 million. Unilever will be paying its minority shareholders Rs15,000 per share, a 55% premium over its original offer of Rs9,700 per share.

The offering will remain valid from May 3 to July 1, inclusive, following which Unilever Pakistan will stand automatically delisted from all three stock exchanges in the country. Any shareholder who declines to sell will then become the shareholder in an unlisted company, a powerful motivator for virtually all minority shareholders to sell, including those opposed to the delisting.

http://tribune.com.pk/story/542620/delisting-process-unilever-appoints-kasb-to-manage-share-buy-back/

What is the difference in the rights of shareholders in public listed and unlisted company? Shareholder is both these scenarios will continue to get dividend so what's the hitch then?

It becomes extremely illiquid when you try to sell it. You don't have an exchange that you can sell it through.

Offline SBM

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Re: ULEVER -- UNILEVER Pakistan Limited.
« Reply #71 on: May 01, 2013, 12:52:17 PM »
KASB Securities, an investment bank, has been appointed manager for the transaction valued at just over $500 million. Unilever will be paying its minority shareholders Rs15,000 per share, a 55% premium over its original offer of Rs9,700 per share.

The offering will remain valid from May 3 to July 1, inclusive, following which Unilever Pakistan will stand automatically delisted from all three stock exchanges in the country. Any shareholder who declines to sell will then become the shareholder in an unlisted company, a powerful motivator for virtually all minority shareholders to sell, including those opposed to the delisting.

http://tribune.com.pk/story/542620/delisting-process-unilever-appoints-kasb-to-manage-share-buy-back/

What is the difference in the rights of shareholders in public listed and unlisted company? Shareholder is both these scenarios will continue to get dividend so what's the hitch then?

It becomes extremely illiquid when you try to sell it. You don't have an exchange that you can sell it through.

cdc eligibility will also be revoked.
and at these yields, whats the point of owning it  for dividends ?
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Offline Valueestimator

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Re: ULEVER -- UNILEVER Pakistan Limited.
« Reply #72 on: June 21, 2013, 11:31:17 AM »
Why the sellers r not selling all the stock in one day
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Offline SBM

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Re: ULEVER -- UNILEVER Pakistan Limited.
« Reply #73 on: August 13, 2013, 11:39:55 AM »
Why the sellers r not selling all the stock in one day

not everyone would have been aware of the buy back & delisting. Unilever is an old company, and had lots of old shareholders.
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Offline SBM

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Re: ULEVER -- UNILEVER Pakistan Limited.
« Reply #74 on: August 23, 2013, 01:22:14 PM »
http://www.kse.com.pk/notices-updates/detail2.php?id=4&nid=045900&pagesize=1&pageno=2


eps 174.5 half year
q2  123.25

dps 123.25

x date is after delisting date, so if anyone holds it till div date, they will be holding delisted share.

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