Published 20 April 2007 Trans Tasman Properties Ltd will be delisted from the close of business on Friday 27 April, following SEA Holdings NZ Ltd’s compulsory acquisition notice on 16 April. Trading in Trans Tasman shares will cease on Monday 23 April. SEA made a 60c/share offer for outstanding stock on 4 April. By Monday […]
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Ferrier Hodgson to write Trans Tasman takeover report
Published 30 March 2007 Trans Tasman Properties Ltd’s independent directors have appointed Ferrier Hodgson to prepare an independent advisor’s report on SEA Holdings NZ Ltd’s new takeover offer. The directors expect the report will be sent to shareholders within the next 2 weeks. SEA launched its new bid a week ago after increasing its stake […]
Read more →SEA gets 90% of Trans Tasman and launches new bid
Published 23 March 2007 SEA Holdings NZ Ltd has increased its stake in Trans Tasman Properties Ltd to 90.61% and yesterday launched another takeover bid for the whole company. SEA, controlled by Jesse Lu, managing director of the listed SEA Holdings Ltd of Hong Kong, has been foiled in past bids but made it past […]
Read more →Unrealised Asian Growth writedown sends Trans Tasman to loss
Published 26 February 2007 NZ-listed Trans Tasman Properties Ltd, 80% owned by SEA Holdings Ltd of Hong Kong, has gone from a $4.3 million profit in 2005 to a $3.4 million after-tax loss for 2006. The company said its development profits realised on the sale of the Viaduct 1 & 2 properties in Auckland and […]
Read more →SEA makes it to 80% of Trans Tasman
Published 14 October 2006 SEA Holdings Ltd of Hong Kong made it to 80.55% of Trans Tasman Properties Ltd by the close of its takeover bid this week – a 1% increase from 6 October. SEA controlled 52.69% of Trans Tasman when it announced the bid in June at 51c/share. Trans Tasman’s independent directors unanimously […]
Read more →SEA won’t extend Trans Tasman bid again
Published 9 October 2006 Trans Tasman Properties Ltd’s major shareholder, SEA Holdings Ltd of Hong Kong, has decided not to chase the balance of shares that would enable compulsory acquisition and will close its bid this Tuesday, 10 October. SEA launched its bid on 6 July but by Friday was still just over 10% short […]
Read more →SEA crawls to 78.3% of Trans Tasman
Published 4 October 2006 SEA Holdings NZ Ltd’s stake in Trans Tasman Properties Ltd crawled up 0.55% from 7-22 September, according to the substantial securityholder notice issued on Monday. SEA, controlled by SEA Holdings Ltd of Hong Kong (managing director Jesse Lu), offered 51c/share on 6 July, raising it to 55c/share on 17 July. It […]
Read more →5 large investors holding out as SEA extends Trans Tasman bid again
Published 16 September 2006 SEA Holdings NZ Ltd has extended its takeover bid for Trans Tasman Properties Ltd again, from 15 September to Tuesday 10 October. SEA, controlled by SEA Holdings Ltd of Hong Kong (managing director Jesse Lu), offered 51c/share on 6 July, raising it to 55c/share on 17 July. On Friday it said […]
Read more →SEA at 77% of Trans Tasman
Published 7 September 2006 SEA Holdings Ltd of Hong Kong increased its stake in Trans Tasman Properties Ltd to 77.27% by 6 September under its 55c/sharetakeover offer, initially launched in June and extended to Friday 15 September. Last story: 24 August 2006: SEA extends Trans Tasman bid by 3 weeks Want to comment? […]
Read more →SEA extends Trans Tasman bid by 3 weeks
Published 23 August 2006 SEA Holdings Ltd has extended its 55c/share takeover bid for Trans Tasman Properties Ltd from today to Friday 15 September. SEA said it had acceptances giving it more than 75% of Trans Tasman, had waived the condition requiring minimum 90% acceptance and the offer was now unconditional. It actually made […]
Read more →SEA reaches 73% of Trans Tasman, which pays out arbitrator’s price of 56c to minorities
Published 18 August 2006 SEA Holdings Ltd has increased its holding in Trans Tasman Properties Ltd to 73% from the 52.65% held when it launched its takeover bid on 6 July. SEA has gone unconditional on its 55c/share takeover bid and has extended it to Wednesday 23 August. Trans Tasman also gave notice on Wednesday […]
Read more →SEA has 74.4% of Trans Tasman
Published 18 August 2006 SEA Holdings Ltd of Hong Kong (Jesse Lu) has ended the week with 74.36% of Trans Tasman Properties Ltd. The increase of 1.4% since Wednesday results from acceptances of SEA’s 55c/share takeover offer and from purchase of 680,000 shares at 56c which Trans Tasman acquired following arbitration on minority buyout rights […]
Read more →Trans Tasman makes half-year loss
Published 15 August 2006 Trans Tasman Properties Ltd made a $2.6 million net loss in the June half, down from a $6.5 million profit in 2005. The result was after deducting $2.1 million of non-operating items ($1.8 million in 2005). Shareholders’ equity was $102.4 million and reported net asset value 66c/share, a value the company […]
Read more →SEA goes unconditional in Trans Tasman bid
Published 7 August 2006 SEA Holdings NZ Ltd went unconditional on its takeover bid for Trans Tasman Properties Ltd today, waiving the condition of getting to 90% by the closing time – 5pm today – and extending the bid to Wednesday 23 August. SEA, local subsidiary of listed Hong Kong property company SEA Holdings Ltd, […]
Read more →SEA’s Trans Tasman takeover acquisitions now 3.3%
Published 4 August 2006 SEA Holdings NZ Ltd has acquired another 1.1% of Trans Tasman Properties Ltd, taking its acquisition under the current takeover bid to 3.3% and its total stake to 55.55%. Earlier stories: 1 August 2006: SEA gets 2% more of Trans Tasman 21 July 2006: Independent advisors & directors find 55c […]
Read more →SEA gets 2% more of Trans Tasman
Published 1 August 2006 SEA Holdings NZ Ltd bumped its stake in Trans Tasman Properties Ltd up to 54.47% on Monday, with 2.22% from acceptances of its 55c/share takeover offer. Earlier stories: 21 July 2006: Independent advisors & directors find 55c Trans Tasman offer acceptable 19 July 2006: New SEA offer cuts discount to […]
Read more →Independent advisors & directors find 55c Trans Tasman offer acceptable
Published 21 July 2006 Anybody still dreaming that the takeover price for Trans Tasman Properties Ltd might get closer to asset backing than market share price had their hopes dashed by the independent report on the bid, now going out to shareholders. Trans Tasman’s independent directors unanimously recommended yesterday that shareholders accept the 55c/share full […]
Read more →New SEA offer cuts discount to Trans Tasman NTA to 21%
Published 19 July 2006 Trans Tasman Properties Ltd’s controlling shareholder, Jesse Lu of Hong Kong-listed SEA Holdings Ltd, lifted his takeover bid by 4c to 55c/share on Monday. That reduces the offer discount to the 69.3c asset backing (in February) from 26.4% to 20.6%. SEA Holdings NZ Ltd director (and Trans Tasman executive chairman) Don […]
Read more →Lu’s new offer for Trans Tasman at 26% discount to NTA
Published 18 June 2006 Hong Kong controlling shareholder of Trans Tasman Properties Ltd, Jesse Lu, made a 51c/share cash takeover bid on Friday morning for the 52.69% he doesn’t already control. By the end of the day the share price had climbed 5c on market to match the offer price. It’s still well short of […]
Read more →Smaller Trans Tasman reckons it has a profitable niche in development
Published 10 May 2006 Trans Tasman Properties Ltd became a much smaller company in January with the creation of its London-listed Hong Kong offshoot, Asian Growth Properties Ltd, and it had a much smaller (and quieter) annual meeting yesterday to match. “”It will be mainly focused on New Zealand, it will be watching Australia for […]
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