becoming a substantial holder , page-16

Hi Szaba Interesting scenario but in the absence of Form 3 by Mr Lim or anybody else from Genting stating they have a deemed interest in the 92,305,165 CS shares then we must assume they don't control them in any way.. so a back door deal would have to be done

Now, i'm in recovery mode from yesterdays festivities so forgive me if you find minor discrepancies in figures but I'll give it me best shot.

OK ......... Lets say Mr Lim has the bonds and converts them into 150,000,000 shares as you said, then takes up the Options, another 10,750,000 add the Genting total of 70,078,000 shares to date
Grand total of 221,153,000
Currently we have 577,219,997 shares on issue
Add MR Lim’s converted shares 150,000,000
So the shares on issue would then be 727,219,997
That would give Mr Lim (Genting) 30.41% …. Then what ……… forced take over is triggered and Genting have to come up with another 21% (+/-)

Now, being my post I will assume.. PB the board and RA will hold steadfast, so that will require MR Lim to get all of the CS voting rights on side and over Half the retail investors, highly unlikely but possible, and that’s assuming PB and the board sit passively whilst the takeover was in progress.

It’s is an interesting scenario but way out there IMO. We need to assume ALL bonds are in Lim’s hands, CS back the take over, remembering they have enjoyed a very profitable relationship with PB & Linc for a long time, and then on top of that Lim (Genting) get half of the long term die hard share holders on side, (keep in mind all the delisting crap we have endured wont make it easy for them)

I would suggest it would take a min $6-$7 sp offer IMO to entice, and even then would be a 50/50 gamble ......... Genting would only move if the Odds are on their side ...and lets not forget Genting share holders would have to approve their board paying what amounts to a massive premium in their eyes for a a cash burning speckie

Oops .... Forgot to mention the possibility of the takeover attracting a third party bidding war .......... Now that would change the odds of success considerably.

Cheers ..... J :-)

Just my dribble so DYOR