Perennial China Retail Trust (PCRT)/ St James

Perennial China Retail Trust (PCRT)/ St James: To acquire assets from Perennial Real Estate Holdings (PREH) for $1.56b, to be satisfied by an issue of St James shares at $1.1756 each. This will result in a reverse takeover (RTO), which will transform St James into an integrated real estate owner, developer and manager with assets in Singapore and China. Upon the close of the acquisition, every 50 shares of St James will consolidate into 1 share in PREH. Subjected to the completion of the acquisition, share consolidation and distribution-in-specie of St James' curent business, PREH will make a voluntary conditional offer for the remaining PCRT units it does not own (72.1%) at $0.70 each, to be satisfied via an issue of 819.8m shares at $1.1756 each. PREH intends to privatized PCRT in the event they receive >90% valid acceptances. As the final terms of the deal have not been determined, we try our best to provide a gauge on the share prices of St James and PCRT. For PCRT unitholders, Will receive $0.70/unit via the issue of PREH shares. Share price is currently trading at a 21% discount, given the preliminary stages of the 1) proposed acquisition (St James and PREH), 2) proposed share consolidation 3) approval from St James shareholders on making the offer For St James shareholders, Current share price of $0.064 indicates a 50-into-1 share consolidation into $3.20. The issue of shares for the RTO will dilute the share price closer towards the $1.1756 level.

Swissco

Swissco - Recent news was its proposal to acquire Scott and English Energy (S&E), which is in the business of owning and leasing mobile offshore drilling units and service rigs, and majority-owned by Kim Seng Holdings. Consideration of $285m will be satisfied by the issue of 452.4m consolidated Swissco shares at issue price of $0.63 each, post a 2-into-1 share consolidation exercise.

Yoma (technical)

Yoma: Counter still in consolidation and trading between the $0.70-$0.80 range, although the downward sloping Stochastics may indicate a near-term downside. Support at $0.70, followed by $0.63.

UOB (technical)

UOB: Counter still trading with its mid-term downtrend. Further downward slide may see 20MA cross below 60MA, which may portend to further downside in the near-term. Support at $19.50.

GLP (technical)

GLP: Seems to be moving towards support level of ~$2.61 (blue horizontal line), while resistance level ~$2.73 (white horizontal line). Both RSI seems moving towards oversold, while Stochastics indicate it’s in oversold territory.

Ezion (technical)

Ezion: Seems to be heading towards the 50% support level ($2.04), resistance at 38.2% ($2.133). Both RSI and Stochastics seems to be heading the direction into oversold territory.

PCRT

Perennial China Retail Trust (PCRT)/ St James Holdings: St James made a voluntary conditional offer for PCRT at $0.70 per unit, to be satisfied via the issue of 0.5954 new shares in St James post a 50-into-1 share consolidation. Post-completion, PCRT shareholders will receive 0.5954 St James shares. Theoretically calculation for PCRT shares should be: 0.5954 * $0.071 (current px of St James) * 50 (50-into-1 share consolidation) = $2.11367