Video
Events Trades
Australia

Event Portfolio Video Update

14 May 2021
By
Shannon Rivkin provides an update on our ASX Event Portfolio trades and the companies on his watch list.

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SHOW COMMENTS / QUESTIONS (14)

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Comments

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Chad B.

Why has MAI not been covered?

Shannon Rivkin

Hi Chad,
This video covers stocks that we recommend in Rivkin Local or intend to recommend. Unfortunately, this excludes stocks where liquidity won’t allow a significant enough number of members to get set. Sadly, this has meant we couldn’t recommend MAI to all members.
Regards,
Shannon Rivkin

Chad B.

Thanks for explaining, it makes sense!

Anonymous User

Interested to understand what you think of Think Childcare Group, chances of a competing bid…?

Shannon Rivkin

Sadly I think the bidding war has already been ongoing since the first approach, and with Busy Bees now effectively declared the winner the company will have a binding deal signed soon enough. But unfortunately, it does appear the underbidder has given up on TNK.
Regards,
Shannon

Stephen Y.

WAM has announced yesterday that they will not be extending their bid for AYS. It doesn’t look like it will be possible to get the major distribution (including the franking credits) and then accept the bid. Any thoughts on what members still holding AYS should do?

Shannon Rivkin

Hi Stephen, I wrote an update on this today which I am attaching below. Regards, Shannon Rivkin While we recommended members accept the WAM Capital (WAM) offer early in the bid (2 February), we have kept a watching brief on the situation with several members still holding the stock. The logic in holding was that AYS would pay its initial distribution (and the franking credits that come with it) and accept the WAM offer after with the value of the franking credits a bonus. The original record date for the initial distribution was for 12 March (and expiry of the… Read more »

Anthony D.

Following this mornings announcement of a 2.5c dividend being added to the existing $1 offer, have you any view on whether the VTH takeover is likely to go through unimpeded, or is this sweetener suggesting there is a likelihood of some resistance to the transaction from some key shareholders?

Shannon Rivkin

Hi Anthony,
My first thought was that maybe there were some shareholders pushing for a sweetener and, while that could be true, I don’t think there is much of a chance this deal could be blocked with Primewest on board already. So, my best guess is it’s just some good negotiating by the VTH board.
Regards,
Shannon Rivkin

Paul L.

Hi Shannon can I have your thoughts on the DWS takeover, Thanks.

Shannon Rivkin

Hi Paul,
I’ve done some work on DWS and while I think it’s likely to go through without any problems, I think the odds of a competing bid but my main concern is that the deal has a condition that DWS’ current debt doesn’t exceed its current level. It’s an unusual addition to the documentation and in my view gives the bidder an easy out in a difficult environment, so with a very skinny arbitrage on offer I decided against recommending DWS.
Regards,
Shannon

Robyn K.

The sound cut out after CDC

Shannon Rivkin

Hi Robyn,

I will record another version and have it available first thing on Monday morning. Sorry for the inconvenience.

Regards,
Shannon Rivkin

Robyn K.

Thanks for that.

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