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

<a href="https://www.smartkarma.com/entities/13273" target="_blank" data-smartkarma-citation="entities:13273:1">Macmahon Holdings Ltd (MAH AU)</a> has signed a Heads of Agreement (<a href="http://www.asx.com.au/asxpdf/20170301/pdf/43ggb877lc8g79.pdf" target="_blank">HoA</a>) with PT Amman Mineral Nusa Tenggara (AMNT), the completion of which would result in AMNT holding 40-50.1% of Macmahon on a fully diluted basis, via the issuance of shares at A$0.203/share, a 40% premium to <a href="https://www.smartkarma.com/entities/20030" target="_blank" data-smartkarma-citation="entities:20030:1">CIMIC Group Ltd (CIM AU)</a>’s offer price of A$0.145.The HoA, though non-binding and conditional in nature, underpins Macmahon’s assertion of a positive turnaround in its operations.It is now in CIMIC’s court whether it deems this agreement to be a “competing proposal”, releasing it from the 'Final Offer' binds, and opting to counter. Below the fold, we detail the HoA and CIMIC’s options.

Macmahon Holdings Ltd (MAH AU) has signed a Heads of Agreement (HoA) with PT Amman Mineral Nusa Tenggara (AMNT), the completion of which would result in AMNT holding 40-50.1% of Macmahon on a fully diluted basis, via the issuance of shares at A$0.203/share, a 40% premium to CIMIC Group Ltd (CIM AU)’s offer price of A$0.145.The HoA, though non-binding and conditional in nature, underpins Macmahon’s assertion of a positive turnaround in its operations.It is now in CIMIC’s court whether it deems this agreement to be a “competing proposal”, releasing it from the 'Final Offer' binds, and opting to counter. Below the fold, we detail the HoA and CIMIC’s options.

Macmahon Holdings

Macmahon – AMNT and the Inside Track