Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>On the 23 Dec 2024, tertiary health care provider <a href="https://www.smartkarma.com/entities/talkmed-group-ltd" target="_blank" data-smartkarma-citation="entities:16079:1" rel="noopener">TalkMed (TKMED SP)</a>  <a href="https://links.sgx.com/FileOpen/Press%20Release.ashx?App=Announcement&amp;FileID=828585" target="_blank" rel="noopener">announced</a> an Offer, by way of a Scheme, from Tamarind Health at S$0.456/share, a 20% premium to undisturbed.  </li>
<li>Tamarind is a Singaporean-based, pan-Asian oncology-focused group. As part of the deal, Temasek-backed 65 Equity Partners will subscribe for new shares in Tamarind.</li>
<li>
The Composite Document is now <a href="https://links.sgx.com/FileOpen/TalkMed%20-%20Composite%20Document.ashx?App=Announcement&amp;FileID=850261" target="_blank" rel="noopener">out</a>, with a Court Meeting on the 15th July, and expected payment around the 29th August. The IFA (KPMG) says "fair &amp; reasonable". </li>
</ul>


On the 23 Dec 2024, tertiary health care provider TalkMed (TKMED SP)  announced an Offer, by way of a Scheme, from Tamarind Health at S$0.456/share, a 20% premium to undisturbed.  
Tamarind is a Singaporean-based, pan-Asian oncology-focused group. As part of the deal, Temasek-backed 65 Equity Partners will subscribe for new shares in Tamarind.

The Composite Document is now out, with a Court Meeting on the 15th July, and expected payment around the 29th August. The IFA (KPMG) says "fair &amp; reasonable". 


<ul>
<li>I tally 43 - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma.</li>
<li>Two new deal were discussed on Smartkarma this week: <a href="https://www.smartkarma.com/entities/humm-group" target="_blank" data-smartkarma-citation="entities:35366:1" rel="noopener">Humm Group (HUM AU)</a> and <a href="https://www.smartkarma.com/entities/viol-co-ltd" target="_blank" data-smartkarma-citation="entities:41010:1" rel="noopener">VIOL (335890 KS)</a>.</li>
<li>Key updates/news took place on<a href="https://www.smartkarma.com/entities/santos-ltd" target="_blank" data-smartkarma-citation="entities:711:1" rel="noopener">Santos (STO AU)</a>, <a href="https://www.smartkarma.com/entities/pointsbet-holdings-ltd" target="_blank" data-smartkarma-citation="entities:29102:1" rel="noopener">PointsBet (PBH AU)</a>, <a href="https://www.smartkarma.com/entities/new-world-resources-ltd" target="_blank" data-smartkarma-citation="entities:9712:1" rel="noopener">New World Resources (NWC AU)</a>, <a href="https://www.smartkarma.com/entities/smartpay-holdings-limited" target="_blank" data-smartkarma-citation="entities:45153:1" rel="noopener">SmartPay (SMP AU)</a>, <a href="https://www.smartkarma.com/entities/dickson-concepts-intl-ltd" target="_blank" data-smartkarma-citation="entities:5052:1" rel="noopener">Dickson Concepts (113 HK)</a>, and <a href="https://www.smartkarma.com/entities/sbi-sumishin-net-bank-ltd" target="_blank" data-smartkarma-citation="entities:34572:1" rel="noopener">SBI Sumishin Net Bank (7163 JP)</a><a href="https://www.smartkarma.com/entities/sbi-sumishin-net-bank-ltd" target="_blank" data-smartkarma-citation="entities:34572:1" rel="noopener"></a>.</li>
</ul>


I tally 43 - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma.
Two new deal were discussed on Smartkarma this week: Humm Group (HUM AU) and VIOL (335890 KS).
Key updates/news took place onSantos (STO AU), PointsBet (PBH AU), New World Resources (NWC AU), SmartPay (SMP AU), Dickson Concepts (113 HK), and SBI Sumishin Net Bank (7163 JP).


(Mostly) Asia-Pac M&A: Santos, PointsBet, New World Resources, SmartPay, SBI Sumishin Net Bank, Humm

<ul>
<li>In December 2021, buy-now, pay-later outfit <a href="https://www.smartkarma.com/entities/humm-group" target="_blank" data-smartkarma-citation="entities:35366:1" rel="noopener">humm (HUM AU)</a> announced approaches from third parties to acquire all/part of the company. This was discussed in<a href="https://skr.ma/CkbrE" target="_blank" rel="noopener"> BNPL Play Hummgroup Fields Proposals</a>. </li>
<li>Six months later, a proposed sale of Humm Consumer Finance business to <a href="https://www.smartkarma.com/entities/latitude-group-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26740:1" rel="noopener">Latitude (LFS AU)</a> was terminated, before the scheduled vote, due to opposition from founder/chairman Andrew Abercrombie. </li>
<li>Now the Abercrombie Group (TAG), the family office of Andrew Abercrombie, has tabled a A$0.58/share non-binding Offer, in cash, by way of a Scheme. Abercrombie hold 26.6%.</li>
</ul>


In December 2021, buy-now, pay-later outfit humm (HUM AU) announced approaches from third parties to acquire all/part of the company. This was discussed in BNPL Play Hummgroup Fields Proposals. 
Six months later, a proposed sale of Humm Consumer Finance business to Latitude (LFS AU) was terminated, before the scheduled vote, due to opposition from founder/chairman Andrew Abercrombie. 
Now the Abercrombie Group (TAG), the family office of Andrew Abercrombie, has tabled a A$0.58/share non-binding Offer, in cash, by way of a Scheme. Abercrombie hold 26.6%.


<ul>
<li>Back on the 29th April, <a href="https://www.smartkarma.com/entities/dickson-concepts-intl-ltd" target="_blank" data-smartkarma-citation="entities:5052:1" rel="noopener">Dickson Concepts Intl (113 HK)</a>'s Chairman, Dickson Poon (&amp; relatives), holding (now) 65.77%, tabled an Offer by way of a Scheme for shares not held.</li>
<li>The family offered HK$7.20/share (best &amp; final). That compared to DC's net cash (as at 31st Mar 2025) of HK$6.92/share. Plus financial assets comprise an additional ~HK$1.92/share.</li>
<li>
The Scheme Document's now <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2025/0624/2025062400702.pdf" target="_blank" rel="noopener">out</a>, with a Court Meeting on the 18th July, and expected payment around the 12th August. The IFA (Platinum) says "fair &amp; reasonable". It is not.</li>
</ul>


Back on the 29th April, Dickson Concepts Intl (113 HK)'s Chairman, Dickson Poon (&amp; relatives), holding (now) 65.77%, tabled an Offer by way of a Scheme for shares not held.
The family offered HK$7.20/share (best &amp; final). That compared to DC's net cash (as at 31st Mar 2025) of HK$6.92/share. Plus financial assets comprise an additional ~HK$1.92/share.

The Scheme Document's now out, with a Court Meeting on the 18th July, and expected payment around the 12th August. The IFA (Platinum) says "fair &amp; reasonable". It is not.


Dickson Concept (113 HK): 18th July Vote On Poon's Low-Balled Offer

<ul>
<li>I tally 46 - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma.</li>
<li>Four new deal were discussed on Smartkarma this week: <a href="https://www.smartkarma.com/entities/santos-ltd" target="_blank" data-smartkarma-citation="entities:711:1" rel="noopener">Santos Ltd (STO AU)</a>, <a href="https://www.smartkarma.com/entities/adriatic-metals-plc" target="_blank" data-smartkarma-citation="entities:30797:1" rel="noopener">Adriatic Metals PLC (ADT AU)</a>, <a href="https://www.smartkarma.com/entities/tourism-holdings-ltd" target="_blank" data-smartkarma-citation="entities:2787:1" rel="noopener">Tourism Holdings (THL NZ)</a>, and <a href="https://www.smartkarma.com/entities/carta-holdings-inc" target="_blank" data-smartkarma-citation="entities:9634:1" rel="noopener">Carta Holdings, Inc. (3688 JP)</a>.</li>
<li>Key updates/news took place on: <a href="https://www.smartkarma.com/entities/mayne-pharma-group-ltd" target="_blank" data-smartkarma-citation="entities:757:1" rel="noopener">Mayne Pharma (MYX AU)</a>, <a href="https://www.smartkarma.com/entities/pointsbet-holdings-ltd" target="_blank" data-smartkarma-citation="entities:29102:1" rel="noopener">PointsBet Holdings (PBH AU)</a>, <a href="https://www.smartkarma.com/entities/new-world-resources-ltd" target="_blank" data-smartkarma-citation="entities:9712:1" rel="noopener">New World Resources (NWC AU)</a>, and <a href="https://www.smartkarma.com/entities/dickson-concepts-intl-ltd" target="_blank" data-smartkarma-citation="entities:5052:1" rel="noopener">Dickson Concepts Intl (113 HK)</a>.</li>
</ul>


I tally 46 - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma.
Four new deal were discussed on Smartkarma this week: Santos Ltd (STO AU), Adriatic Metals PLC (ADT AU), Tourism Holdings (THL NZ), and Carta Holdings, Inc. (3688 JP).
Key updates/news took place on: Mayne Pharma (MYX AU), PointsBet Holdings (PBH AU), New World Resources (NWC AU), and Dickson Concepts Intl (113 HK).


(Mostly) Asia-Pac M&A: Adriatic Metals, Carta, Mayne Pharma, PointsBet, Tourism Holdings

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Piedmont Lithium Limited operates as a mineral exploration company. The Company explores and develops lithium project. Piedmont Lithium also manages drill, land expansion, and sampling programs. Piedmont Lithium operates projects in the United States.

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Piedmont Lithium (PLL AU)

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