Examples of Peoples Shares in a sentence
Intention of the Offeror in relation to business of Peoples We should draw the Peoples Independent Shareholders’ attention that, if the Offeror receives valid acceptances of the Share Offer for not less than 90% of the disinterested Peoples Shares, the Offeror intends to apply the provisions of the Companies Ordinance to compulsorily acquire any remaining Peoples Shares and to apply for a de-listing of Peoples Shares from the Stock Exchange pursuant to Rule 6.15 of the Listing Rules.
Peoples Shares held by Peoples Independent Shareholders who have not accepted the Offers will be subject to compulsory purchase on exercise of the compulsory acquisition rights by the Offeror.
On the basis of EBITDA of Peoples for the year ended 31 December 2004 of approximately HK$535 million and 743,641,019 Peoples Shares in issue as at 31 December 2004, the Share Offer Price represents a EV/EBITDA of 6.33 times.
We should draw the Peoples Independent Shareholders’ attention the fact that, if the Offeror does not receive valid acceptances of the Share Offer for at least 90% of the disinterested Peoples Shares, the Offeror reserves its right, at its absolute discretion, to waive this condition of the Share Offer.
The dividend yield of Peoples Shares based on the Share Offer Price of 6.81% was approximately 49.34% higher than that of SmarTone.
P/BV The audited net asset value of Peoples and issued share capital was HK$1,105.93 million and 743,641,019 Peoples Shares as at 31 December 2004 respectively.
P/E Based on the net profit attributable to the Peoples Shareholders for the year ended 31 December 2004 of approximately HK$251.61 million and 743,641,019 Peoples Shares in issue as at 31 December 2004, the earnings per Peoples Share were approximately HK$0.34.
As at the Latest Practicable Date, there were 743,641,019 Peoples Shares in issue and 492 outstanding Peoples Options involving 50,650,000 Peoples Shares.
As such, Peoples will not enjoy the possible benefits from CMHK as claimed under the section headed ‘‘Reason and benefits for the Offers’’ contained in the ‘‘Letter from the Financial Advisers’’ and the Peoples Independent Shareholders may not be able to realise their investment at a price equivalent to the Share Offer Price given the Peoples Shares are mostly traded below the Share Offer Price with relatively low liquidity.
We are of the view that the premiums represented by the Share Offer Price over the historical trading prices of Peoples Shares as shown in the table above are either within the range of or comparable to that of the Recent Deals.