Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<p>Dental surgery chain <a href="https://www.smartkarma.com/entities/1300-smiles-ltd" target="_blank" data-smartkarma-citation="entities:11112:1" rel="noopener">1300 Smiles Ltd (ONT AU)</a> has <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02410735-2A1317455?access_token=83ff96335c2d45a094df02a206a39ff4" target="_blank" rel="noopener">announced</a> it has entered into a Scheme Implementation Agreement with BGH/OTPPB-backed Abano Healthcare.</p>
<p>Abano is offering $8/share to non-founder shareholders, less any special dividends.</p>
<p>Non-founder shareholders (meaning Daryl Holmes), who hold ~59.8% of shares out will receive $6.33/share. These shareholders also have the right to roll over 26.2% of their shares - or ~15.7% - and they have indicated their intention. Therefore the Scheme is for ~84% of shares out.</p>
<p>Elleston Capital, holding 7.1% of shares out, intends to vote in favour of the Scheme.</p>
<p>The Scheme is also subject to FIRB approval.</p>
<p>No definitive timetable was provided, by presumably this transaction could be wrapped up late November, early December,</p>
<p>More below the fold. </p>

Dental surgery chain 1300 Smiles Ltd (ONT AU) has announced it has entered into a Scheme Implementation Agreement with BGH/OTPPB-backed Abano Healthcare.
Abano is offering $8/share to non-founder shareholders, less any special dividends.
Non-founder shareholders (meaning Daryl Holmes), who hold ~59.8% of shares out will receive $6.33/share. These shareholders also have the right to roll over 26.2% of their shares - or ~15.7% - and they have indicated their intention. Therefore the Scheme is for ~84% of shares out.
Elleston Capital, holding 7.1% of shares out, intends to vote in favour of the Scheme.
The Scheme is also subject to FIRB approval.
No definitive timetable was provided, by presumably this transaction could be wrapped up late November, early December,
More below the fold. 

1300Smiles (ONT AU): BGH Sinks Its Teeth In

Healthcare Specialist

Winnie Wong

Thematic (Sector/Industry)

<div class="content-highlight"><p><strong>The Aussie Healthcare Daily</strong> is a summary of major news and announcements from ASX-listed healthcare companies as well as developments and trends in the healthcare industry.</p></div><div><h2>Market Highlights</h2></div><div>
<table class="table table-striped"><tbody>
<tr>
<td>Index</td>
<td>% Price Change</td>
</tr>
<tr>
<td>S&amp;P/ASX All Ordinaries</td>
<td>0.07%</td>
</tr>
<tr>
<td>S&amp;P/ASX 200</td>
<td>0.06%</td>
</tr>
<tr>
<td>ASX Small Ordinaries</td>
<td>0.11%</td>
</tr>
<tr>
<td><strong>S&amp;P/ASX 200 Health Care</strong></td>
<td>-0.13%</td>
</tr>
<tr>
<td>Top Gainer in the ASX200 Health Care index: Sigma Healthcare Ltd (SIG AU)</td>
<td>3.49%</td>
</tr>
<tr>
<td>Top Loser in the ASX200 Health Care index: <a href="https://www.smartkarma.com/entities/673" target="_blank" data-smartkarma-citation="entities:673:1">Ramsay Health Care Ltd (RHC AU)</a>
</td>
<td>-0.61%</td>
</tr>
<tr>
<td>Top by Volume in the ASX200 Health</td>
</tr>
</tbody></table>…</div>

The Aussie Healthcare Daily is a summary of major news and announcements from ASX-listed healthcare companies as well as developments and trends in the healthcare industry.Market Highlights


Index
% Price Change


S&amp;P/ASX All Ordinaries
0.07%


S&amp;P/ASX 200
0.06%


ASX Small Ordinaries
0.11%


S&amp;P/ASX 200 Health Care
-0.13%


Top Gainer in the ASX200 Health Care index: Sigma Healthcare Ltd (SIG AU)
3.49%


Top Loser in the ASX200 Health Care index: Ramsay Health Care Ltd (RHC AU)

-0.61%


Top by Volume in the ASX200 Health

…

Founder Evidente. Top rated quantitative analyst, Evidente

Sam Ferraro

Founder Evidente. Top rated quantitative analyst

Evidente

Evidente is an independent financial education firm that delivers innovative financial advice to wholesale investors, including active long only funds, hedge funds, pension funds, and sovereign wealth funds, in Australia and globally.  Drawing on academic research in asset pricing, behavioural finance and portfolio construction, Evidente provides wholesale investors with commercial solutions to stock selection and asset allocation decisions across equities and other asset classes.

Macroeconomics

<p>The Government's release&nbsp;of Re:think,&nbsp;its tax discussion paper, is a welcome development, designed to kick-start the conversation with the community on a range of reform options designed to&nbsp;achieve a simpler&nbsp;and&nbsp;streamlined&nbsp;tax system&nbsp;capable of meeting the growing needs of an ageing population.&nbsp;&nbsp;&nbsp;I discuss some of the areas raised in Re:think which are of greatest interest to equity investors: how important income and consumption taxes are to Australia's tax take in a global context,&nbsp;the prospect of the growing drag from bracket creep on household disposable incomes (discretionary retailers), the outlook for the GST (supermarket&nbsp;retailers),&nbsp;the efficacy and viability of the dividend imputation system (high yielders with predominantly domestically oriented operations), the sustainability of the concessional tax treatment of superannuation (asset managers), and the risk associated with companies that have low effective tax rates.</p>

The Government's release&nbsp;of Re:think,&nbsp;its tax discussion paper, is a welcome development, designed to kick-start the conversation with the community on a range of reform options designed to&nbsp;achieve a simpler&nbsp;and&nbsp;streamlined&nbsp;tax system&nbsp;capable of meeting the growing needs of an ageing population.&nbsp;&nbsp;&nbsp;I discuss some of the areas raised in Re:think which are of greatest interest to equity investors: how important income and consumption taxes are to Australia's tax take in a global context,&nbsp;the prospect of the growing drag from bracket creep on household disposable incomes (discretionary retailers), the outlook for the GST (supermarket&nbsp;retailers),&nbsp;the efficacy and viability of the dividend imputation system (high yielders with predominantly domestically oriented operations), the sustainability of the concessional tax treatment of superannuation (asset managers), and the risk associated with companies that have low effective tax rates.

Australia

1300 Smiles Limited offers dental services. The Company provides dental surgeries and practice management and other services to self employed dentists. 1300 Smiles serves clients in Australia.

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1300 Smiles Ltd (ONT AU)

1300Smiles (ONT AU): BGH Sinks Its Teeth In

This looks done. You have major shareholder support. You also have another substantial shareholder backing the deal. This is a highly complementary...

David Blennerhassett

Aussie Healthcare Daily: 11 Dec 2017

The Aussie Healthcare Daily is a summary of major news and announcements from ASX-listed healthcare companies as well as developments and trends in...

Winnie Wong

Taxing Times For Australia

The Government's release of Re:think, its tax discussion paper, is a welcome development, designed to kick-start the conversation with the...

Sam Ferraro

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