Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>On the 6 August, Canada's <a href="https://www.smartkarma.com/entities/silvercorp-metals-inc" target="_blank" data-smartkarma-citation="entities:25818:1" rel="noopener">Silvercorp (SVM CN)</a> offered shareholders of Western Australian-based miner <a href="https://www.smartkarma.com/entities/orecorp-ltd" target="_blank" data-smartkarma-citation="entities:8120:1" rel="noopener">OreCorp (ORR AU)</a> A$0.15 in cash and 0.0967 new Silvercorp shares, by way of a Scheme.</li>
<li>The Scheme Booklet was despatched on the 6 November with a Scheme Meeting on the 8 December. The IE viewed terms as fair. </li>
<li>Silvercorp has now <a href="https://orecorp.com.au/upload/documents/investor/asx/231122230923_231122SilvercorpandOreCorpagreetoincreasedSchemeConsiderationcurrent.pdf" target="_blank" rel="noopener">bumped</a> the cash terms to $0.19/share from $0.15/share. All other terms remain unchanged. Tim Goyder (5.14%) is now supportive. Done and done. </li>
</ul>


On the 6 August, Canada's Silvercorp (SVM CN) offered shareholders of Western Australian-based miner OreCorp (ORR AU) A$0.15 in cash and 0.0967 new Silvercorp shares, by way of a Scheme.
The Scheme Booklet was despatched on the 6 November with a Scheme Meeting on the 8 December. The IE viewed terms as fair. 
Silvercorp has now bumped the cash terms to $0.19/share from $0.15/share. All other terms remain unchanged. Tim Goyder (5.14%) is now supportive. Done and done. 


OreCorp: Silvercorp Bumps. Goyder Now Supportive

<ul>
<li>Back on the 6 August, Western Australian-based miner <a href="https://www.smartkarma.com/entities/orecorp-ltd" target="_blank" data-smartkarma-citation="entities:8120:1" rel="noopener">OreCorp Ltd (ORR AU)</a> signed a Scheme Implementation Deed with Canada's <a href="https://www.smartkarma.com/entities/silvercorp-metals-inc" target="_blank" data-smartkarma-citation="entities:25818:1" rel="noopener">Silvercorp Metals (SVM CN)</a>.</li>
<li>OreCorp shareholders are offered A$0.15 in cash and 0.0967 new Silvercorp shares - or an implied value of A$0.60 - for each OreCorp share held.</li>
<li>The Scheme Booklet is out with a shareholder vote on the 8 December. Implementation is the 22 December.</li>
</ul>


Back on the 6 August, Western Australian-based miner OreCorp Ltd (ORR AU) signed a Scheme Implementation Deed with Canada's Silvercorp Metals (SVM CN).
OreCorp shareholders are offered A$0.15 in cash and 0.0967 new Silvercorp shares - or an implied value of A$0.60 - for each OreCorp share held.
The Scheme Booklet is out with a shareholder vote on the 8 December. Implementation is the 22 December.


OreCorp/Silvercorp: 8th December Shareholder Vote

<ul>
<li>Western Australian-based miner <a href="https://www.smartkarma.com/entities/orecorp-ltd" target="_blank" data-smartkarma-citation="entities:8120:1" rel="noopener">OreCorp Ltd (ORR AU)</a> has signed a Scheme Implementation Deed with Canada's <a href="https://www.smartkarma.com/entities/silvercorp-metals-inc" target="_blank" data-smartkarma-citation="entities:25818:1" rel="noopener">Silvercorp Metals (SVM CN)</a>.</li>
<li>Assuming the Scheme is successful, OreCorp shareholders will receive A$0.15 in cash and 0.0967 new Silvercorp shares - or an implied value of A$0.60 - for each OreCorp share held.</li>
<li>A shareholder meeting is expected to be held in mid-November with implementation expected end-Nov, early-Dec. Separately, <a href="https://www.smartkarma.com/entities/perseus-mining-ltd" target="_blank" data-smartkarma-citation="entities:15306:1" rel="noopener">Perseus (PRU AU)</a> is understood to be kicking OreCorp's tyres.</li>
</ul>


Western Australian-based miner OreCorp Ltd (ORR AU) has signed a Scheme Implementation Deed with Canada's Silvercorp Metals (SVM CN).
Assuming the Scheme is successful, OreCorp shareholders will receive A$0.15 in cash and 0.0967 new Silvercorp shares - or an implied value of A$0.60 - for each OreCorp share held.
A shareholder meeting is expected to be held in mid-November with implementation expected end-Nov, early-Dec. Separately, Perseus (PRU AU) is understood to be kicking OreCorp's tyres.


OreCorp Inks Deal With Silvercorp. Perseus In The Wings?

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>Busy week in India with the adhoc changes to the <a href="https://www.smartkarma.com/entities/nifty-index" target="_blank" data-smartkarma-citation="entities:23617:1" rel="noopener">NIFTY</a>, <a href="https://www.smartkarma.com/entities/nse-nifty-next-50-index" target="_blank" data-smartkarma-citation="entities:36053:1" rel="noopener">NSE Nifty Next 50</a>, <a href="https://www.smartkarma.com/entities/s-p-bse-sensex-index" target="_blank" data-smartkarma-citation="entities:31494:1" rel="noopener">S&amp;P BSE SENSEX</a> and <a href="https://www.smartkarma.com/entities/nse-nifty-bank-index" target="_blank" data-smartkarma-citation="entities:26811:1" rel="noopener">Nifty Bank</a> due to the <a href="https://www.smartkarma.com/entities/housing-development-finance" target="_blank" data-smartkarma-citation="entities:252:1" rel="noopener">HDFC Limited</a> and <a href="https://www.smartkarma.com/entities/hdfc-bank-ltd-4b6b7a92-9087-468d-9dbe-ab169e77f014" target="_blank" data-smartkarma-citation="entities:558:1" rel="noopener">HDFC Bank</a> merger.</li>
<li>The IDX could announce the changes to the IDX30, LQ45 and IDX80 indices in the coming week, though there is no firm schedule for announcements.</li>
<li>Yet another week of inflows to the <a href="https://www.smartkarma.com/entities/tracker-fund-of-hong-kong-ltd" target="_blank" data-smartkarma-citation="entities:29257:1" rel="noopener">Tracker Fund of Hong Kong Ltd (2800 HK)</a> ETF and outflows from the <a href="https://www.smartkarma.com/entities/hang-seng-china-enterprises-index-etf" target="_blank" data-smartkarma-citation="entities:25:1" rel="noopener">Hang Seng H Share Index ETF (2828 HK)</a>. </li>
</ul>


Busy week in India with the adhoc changes to the NIFTY, NSE Nifty Next 50, S&amp;P BSE SENSEX and Nifty Bank due to the HDFC Limited and HDFC Bank merger.
The IDX could announce the changes to the IDX30, LQ45 and IDX80 indices in the coming week, though there is no firm schedule for announcements.
Yet another week of inflows to the Tracker Fund of Hong Kong Ltd (2800 HK) ETF and outflows from the Hang Seng H Share Index ETF (2828 HK). 


Index Rebalance & ETF Flow Recap: ASX, Chinext, URA, Korea Stocks, NKY

<ul>
<li>Based on prices and turnover from 10 July, there could be one deletion from the index in July. Plus there will be capping and float changes.</li>
<li>There are four stocks that meet the inclusion criteria but all are non-pure play companies and the index is already at the limit of 15 non-pure play companies.</li>
<li>There will be a large impact on a lot of stocks but the flows are not very large due to the limited assets tracking the index.</li>
</ul>


Based on prices and turnover from 10 July, there could be one deletion from the index in July. Plus there will be capping and float changes.
There are four stocks that meet the inclusion criteria but all are non-pure play companies and the index is already at the limit of 15 non-pure play companies.
There will be a large impact on a lot of stocks but the flows are not very large due to the limited assets tracking the index.


Solactive Global Uranium & Nuclear Components Index Rebalance Preview: Potential Changes

Australia

DevEx Resources Limited operates as a mineral mining company. The Company focuses on exploration and development of copper-gold, lithium, and uranium deposits. DevEx Resources offers its services in Australia.

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DevEx Resources (DEV AU)

OreCorp: Silvercorp Bumps. Goyder Now Supportive

If small, cross-border arbs are your thing, look to short Silvercorp (where available) late in the US day, and buy OreCorp early in the AU day. Or...

David Blennerhassett

OreCorp/Silvercorp: 8th December Shareholder Vote

If small arbs are your thing, and as this is a cross-border trade, look to short Silvercorp (where available) late in the US day, and buy OreCorp...

David Blennerhassett

OreCorp Inks Deal With Silvercorp. Perseus In The Wings?

As this is a cross-border trade, look to short Silvercorp (where available) late in the US day, and buy OreCorp early in the AU day. Or you may...

David Blennerhassett

Index Rebalance & ETF Flow Recap: ASX, Chinext, URA, Korea Stocks, NKY

This recap highlights Insights covering Asian index rebalances (announcements/ forecasts/ IPO Fast Entry/ M&A driven changes). We also highlight...

Brian Freitas

Solactive Global Uranium & Nuclear Components Index Rebalance Preview: Potential Changes

There could be 1 deletion for the index in July. There could be up to 3 inclusions if they are classified as pure-play companies. Impact is large...

Brian Freitas

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