On the 17th July, Hung Hon Man, Get Nice (64 HK)‘s chairman (& founder) offered HK$4/share, comprising a HK$2 consideration + HK$2 special dividend. Terms appear not to be final.
Terms are also low-balled. A 17.6% premium to undisturbed. And a 62.8% discount to NAV. However, minorities are indifferent when perusing past AGM voting.
The Scheme Booklet is now out, with a 26th October Scheme Meeting, and expected payment on the 16th November. The IFA (Veda Capital) concluded “fair and reasonable“.
Get Nice (64 HK) is illiquid. Look away now if this is not your thing.
Trade:
Trading wide at a 3.6%/31.1% gross/annualised spread.
It is what it is. This is as good as it will get for minorities.
If illiquid arbs are your bag, I’d be picking up shares here.