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

Aveo: Take Advantage of the Lull To Take a Second Crack

Brookfield's Offer For Aveo May Just Get Up

Aveo's Offer To Get Up After Huge Writedown

Quiddity Advisors

Event-Driven

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<a href="https://www.smartkarma.com/entities/aveo-group" target="_blank" data-smartkarma-citation="entities:9390:1" rel="noopener">Aveo Group (AOG AU)</a> and Brookfield <a href="https://www.asx.com.au/asxpdf/20190814/pdf/447g86zg2q15l1.pdf" target="_blank" rel="noopener">entered</a> into a Scheme Implementation Deed on the 14 August, such that Brookfield will undertake to buy all Aveo shares at $2.195/share (inclusive of the FY19 annual distribution of A$0.045/share, now gone ex), the price first referenced on the <a href="https://www.asx.com.au/asxpdf/20190806/pdf/4477sx41bz8f6q.pdf" target="_blank" rel="noopener">6 August</a>, and a 28% premium to the undisturbed price of $1.71/share on the 12 February. 
A scrip consideration was also available, provided a minimum scrip threshold of 10% of shares out elected for this option.
Major shareholder <a href="https://www.smartkarma.com/entities/mulpha-international-bhd" target="_blank" data-smartkarma-citation="entities:13490:1" rel="noopener">Mulpha International (MIT MK)</a>, with 24.38%, has now <a href="http://www.bursamalaysia.com/market/listed-companies/company-announcements/6322761" target="_blank" rel="noopener">announced</a> it has elected for a combination of cash and scrip consideration under the Offer, electing scrip in respect of 94.9mn shares, or 16.3% of shares out.
That election remains subject to FIRB approval, which is expected to be provided by the 31 October statutory deadline.
The Scheme Meeting is expected to be held on the 6 November. Mulpha will vote its entire stake in favour of the Scheme.
This deal should get up, but it is not without risk - 10.6% of the register is in the hands of two investors who became substantial shareholders after the Scheme was announced. The Offer Price is final.
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Aveo Group (AOG AU) and Brookfield entered into a Scheme Implementation Deed on the 14 August, such that Brookfield will undertake to buy all Aveo shares at $2.195/share (inclusive of the FY19 annual distribution of A$0.045/share, now gone ex), the price first referenced on the 6 August, and a 28% premium to the undisturbed price of $1.71/share on the 12 February. 
A scrip consideration was also available, provided a minimum scrip threshold of 10% of shares out elected for this option.
Major shareholder Mulpha International (MIT MK), with 24.38%, has now announced it has elected for a combination of cash and scrip consideration under the Offer, electing scrip in respect of 94.9mn shares, or 16.3% of shares out.
That election remains subject to FIRB approval, which is expected to be provided by the 31 October statutory deadline.
The Scheme Meeting is expected to be held on the 6 November. Mulpha will vote its entire stake in favour of the Scheme.
This deal should get up, but it is not without risk - 10.6% of the register is in the hands of two investors who became substantial shareholders after the Scheme was announced. The Offer Price is final.


Aveo's Offer One Step Closer To Getting Done