Superbowl -- grossly undervalued

Hi Rock, I have no idea what Siah's motive is. But the fact that HH bought SB shares in the market at 75ct seems to point to the scenario that even if it does not garner 90% of SB shares, the takeover offer will still proceed. So delisting SB is not paramount to the offer.

I suspect that Siah and a couple of other bigger shareholders will not sell at 75ct, so 90% acceptance level will probably not be met.

I believe Siah and the other bigger shareholders had deep pocket to challenge the takeover but I don't see any counter offer coming. I had already sold off my shares. Thank Sumer for your view point.

The conviction and intention of Francis Siah are evident. With his purchase of yet another 200K shares of Superbowl at 75.5 cents, he is clearly expecting/demanding a higher offer from Hiap Hoe. In effect, he will deny HH the % that it requires to successfully delist Superbowl.

It is a good idea for us to ride on this, and not accept HH's offer of just 75 cents.

Just received letter from broker about my SB shares: "The offeror does not intend to revise the offer price."

I thought ---- eh, is it true? I have the impression all this while that Hiap Hoe did not say it would not revise offer price. Anyone can clarify?

HH has changed the pre-condition for the takeover offer for SB from 90% level to 70%, as expected. The 90% pre-condition was just a tactical move to lure more SB shareholders to sell to HH. The change in the pre-condition shows that HH is serious about the takeover, and it will not be called off.

To date, valid acceptances received is 4.21%, bringing total SB shares HH will own to 77.13%, including the shares HH bought from the market and the ones HH Holdings will sell to HH (assuming they sell all that they own).

HH reiterated that the offer price will not be raised, and I suspect they are serious about this.

SB is likely to remain a listed company post takeover offer’s closing date in March.

I will be selling at least some of my shares in SB to HH and look to re-invest in other undervalued shares.

Sumer, I guess we can be certain that HH will not raise its offer price. It has already explicitly said so in the latest announcement.

Hence, I am also certain (like u ) that more than 10% of SuperBowl minority shareholders will not sell out at 75 cents to HH. Possibly some 20% will still be holding tight, including Francis Siah/

SB will therefore remain a listed company, but it will be thinly traded.

This is a lousy situation for minority shareholders hoping for a higher value for the stock and for HH, which still has to incur listing & compliance fees.

I wonder if HH will one day relent and offer a higher price -- for ex., $1.20.
Hahaha