Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

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<p>Liquid chemical storage and handling outfit <a href="https://www.smartkarma.com/entities/dragon-crown-group-holdings" target="_blank" data-smartkarma-citation="entities:18919:1" rel="noopener">Dragon Crown Group (935 HK)</a> (DCG) has <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2021/1008/2021100801167.pdf" target="_blank" rel="noopener">announced</a> a pre-conditional Offer from <a href="https://www.smartkarma.com/entities/guangdong-great-river-smarter" target="_blank" data-smartkarma-citation="entities:27110:1" rel="noopener">Guangdong Great River Smarter (002930 CH)</a> (GGRS).</p>
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<p>The Offer price is HK$1.28/share, a 8.47% premium to last close, and a 20.75% premium to the average closing price over the previous 60 trading days. The Offer price will NOT be increased. No dividends are expected to be declared. </p>
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<p>The pre-conditions, which cannot be waived, include approvals from NDRC, MoC, SAFE, the Shenzhen Stock Exchange, plus shareholder approval from GGRS.</p>
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<p>The key condition to the Offer is valid acceptances of not less than 90% of shares out. Irrevocables totalling 86.91% (primarily from Ng Wai Man, the founder, chairman &amp; CEO) have been received, therefore this requires a further 3.09% to get over the line.</p>
<p>This appears a relatively clean deal. The Long Stop date for the pre-cons is the 9 February 2022.</p>
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<p>More below the fold.</p>
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Liquid chemical storage and handling outfit Dragon Crown Group (935 HK) (DCG) has announced a pre-conditional Offer from Guangdong Great River Smarter (002930 CH) (GGRS).


The Offer price is HK$1.28/share, a 8.47% premium to last close, and a 20.75% premium to the average closing price over the previous 60 trading days. The Offer price will NOT be increased. No dividends are expected to be declared. 


The pre-conditions, which cannot be waived, include approvals from NDRC, MoC, SAFE, the Shenzhen Stock Exchange, plus shareholder approval from GGRS.


The key condition to the Offer is valid acceptances of not less than 90% of shares out. Irrevocables totalling 86.91% (primarily from Ng Wai Man, the founder, chairman &amp; CEO) have been received, therefore this requires a further 3.09% to get over the line.
This appears a relatively clean deal. The Long Stop date for the pre-cons is the 9 February 2022.


More below the fold.


Dragon Crown (935 HK)'s VGO Is A Done Deal

China

Guangdong Great River Smarter Logistics Co., Ltd. operates as a logistics company. The Company provides warehouse, loading, unloading, barrel filling, petrochemical products value added, and other services. Guangdong Great River Smarter Logistics serves customers in China and Hong Kong.

Guangdong Great River Smarter Logistics (002930 CH)

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52-week Range	0.00 - 0.00
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Dragon Crown (935 HK)'s VGO Is A Done Deal

This looks all stitched up - play the spread here. Assuming payment mid-January, I would expect DCG to trade around $1.23 on Monday, or a 4%/15%...

David Blennerhassett