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 26 years of covering Asia Pacific equities, the past 20 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

Qube (QUB AU): Trading Tight To Macquarie's Firm Offer

Quiddity Advisors

Event-Driven

<ul>
<li>On the 16th February, logistics and infrastructure play <a href="https://www.smartkarma.com/entities/qube-holdings-ltd" target="_blank" data-smartkarma-citation="entities:958:1" rel="noopener">Qube Holdings (QUB AU)</a> announced the Macquarie Asset Management-led consortium had firmed an Offer at A$5.20/share, the same price as the NBIO.</li>
<li>Terms back out a 27.8% premium to undisturbed. And ~14.5x FY25 EV/EBITDA. Fully franked dividends up to A$0.40/share permitted, but will be netted. An $0.0535/share interim dividend has been paid.</li>
<li>
<a href="https://announcements.asx.com.au/asxpdf/20260423/pdf/06ysp7svlmftgn.pdf" target="_blank" rel="noopener">The Scheme Booklet is now out</a>, with a Scheme Meeting on the 16th June, and expected implementation on the 28th July 2026. The IE (Grant Samuel) says "fair &amp; reasonable".</li>
</ul>


On the 16th February, logistics and infrastructure play Qube Holdings (QUB AU) announced the Macquarie Asset Management-led consortium had firmed an Offer at A$5.20/share, the same price as the NBIO.
Terms back out a 27.8% premium to undisturbed. And ~14.5x FY25 EV/EBITDA. Fully franked dividends up to A$0.40/share permitted, but will be netted. An $0.0535/share interim dividend has been paid.

The Scheme Booklet is now out, with a Scheme Meeting on the 16th June, and expected implementation on the 28th July 2026. The IE (Grant Samuel) says "fair &amp; reasonable".


Qube (QUB AU): 16th June Vote On MAM's Scheme