Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

HK Type 4 license through Ballingal Investment Advisors Ltd. 

I'm a highly experienced sell-side analyst with in excess of 22 years of covering Asia Pacific equities, the past 19 years immersed in event strategies encompassing M&A risk arbitrage, directional long/short, stub trades and restructuring.  

My background also includes accountancy (liquidation/bankruptcy/receivership) earlier in my career and as a chief financial officer of a global commodity company based in the US and Mexico.

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

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<p>Back on the 31 August this year, mobile virtual service operator <a href="https://www.smartkarma.com/entities/amaysim-australia-ltd" target="_blank" data-smartkarma-citation="entities:24288:1" rel="noopener">Amaysim Australia (AYS AU)</a> <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02274320-2A1246479?access_token=83ff96335c2d45a094df02a206a39ff4" target="_blank" rel="noopener">announced</a> a Share Sale Agreement (SSA) to sell Click Energy Group, its energy business, to <a href="https://www.smartkarma.com/entities/agl-energy-ltd" target="_blank" data-smartkarma-citation="entities:554:1" rel="noopener">AGL Energy Ltd (AGL AU)</a> for A$115mn, in cash. The divestment was <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02287479-2A1253306?access_token=83ff96335c2d45a094df02a206a39ff4" target="_blank" rel="noopener">completed</a> on the 30 September. </p>
<p>This was followed on the 2 November by them <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02303308-2A1260667?access_token=83ff96335c2d45a094df02a206a39ff4" target="_blank" rel="noopener">entering</a> into an SSA to sell their mobile ops to Optus Mobile for A$250mn, in cash. Should the sale complete, AYS expected to distribute between A$207.2mn - A$225.7mn (A$0.67-A$0.73/share) via three tranches. The distribution will include a fully franked dividend of A$0.26/share.</p>
<h3>The New News</h3>
<p>AYS has now <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02322235-2A1270211?access_token=83ff96335c2d45a094df02a206a39ff4" target="_blank" rel="noopener">announced</a> <a href="https://www.smartkarma.com/entities/wam-capital-ltd" target="_blank" data-smartkarma-citation="entities:29122:1" rel="noopener">WAM Capital Ltd (WAM AU)</a> is offering AYS shareholders the choice of A$0.695/share in cash, or A$0.833/share in WAM scrip, or a combination of both, in an off-market takeover.</p>
<p>The offer has limited conditionality - shareholder approval of the mobile ops to Optus, and the standard regulatory approvals. And no MACs.</p>
<p>Evidently, WAM has its sights set on the fully franked payout from the Optus sale.</p>
<p>AYS' board unanimously recommends the Offer.</p>
<p>More below the fold.</p>
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Back on the 31 August this year, mobile virtual service operator Amaysim Australia (AYS AU) announced a Share Sale Agreement (SSA) to sell Click Energy Group, its energy business, to AGL Energy Ltd (AGL AU) for A$115mn, in cash. The divestment was completed on the 30 September. 
This was followed on the 2 November by them entering into an SSA to sell their mobile ops to Optus Mobile for A$250mn, in cash. Should the sale complete, AYS expected to distribute between A$207.2mn - A$225.7mn (A$0.67-A$0.73/share) via three tranches. The distribution will include a fully franked dividend of A$0.26/share.
The New News
AYS has now announced WAM Capital Ltd (WAM AU) is offering AYS shareholders the choice of A$0.695/share in cash, or A$0.833/share in WAM scrip, or a combination of both, in an off-market takeover.
The offer has limited conditionality - shareholder approval of the mobile ops to Optus, and the standard regulatory approvals. And no MACs.
Evidently, WAM has its sights set on the fully franked payout from the Optus sale.
AYS' board unanimously recommends the Offer.
More below the fold.








Amaysim/WAM: A Question Of Franking Credits

amaysim Australia

Amaysim/WAM: A Question Of Franking Credits