Chuck Kuhn's Asia in Photos: Vietnam Resource Investments makes $51.6 million cash bid for Keeper Resources

Monday, April 7, 2008

Vietnam Resource Investments makes $51.6 million cash bid for Keeper Resources

CALGARY — Keeper Resources Inc. (TSXV:KEE) and Vietnam Resource Investments (Holdings) Ltd. have struck a deal that will see Calgary-based Keeper acquired in a friendly takeover that values the Canadian company at C$51.6 million.
The deal is worth about $1.50 a share, the companies announced.
Vietnam Resource, also known as VRI, is an investment fund managed by Dragon Capital Management Ltd., an asset manager based in Vietnam. Keeper has operations in Canada and Vietnam.
The bid represents a 58 per cent premium over the closing share price of Keeper common shares last Nov. 7, the day before the company said it had received a buyout proposal.
With 34.4 million Keeper shares outstanding the bid values the company at about C$51.6 million.
Dragon Capital already owns about 5.76 million Keeper shares, or 17.8 per cent of the company.
Keeper's board has recommended shareholders accept the bid and senior officers and directors that together hold nearly 23 per cent of the company have agreed to tender their shares.
A take-over-bid circular containing the terms of the offer will be mailed to Keeper shareholders before April 18 and the offer is slated to expire 36 days after that.

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They say "

“I can’t say what made me fall in love with Vietnam - that a woman’s voice can drug you; that everything is so intense. The colors, the taste, even the rain. Nothing like the filthy rain in London. They say whatever you’re looking for, you will find here. They say you come to Vietnam and you understand a lot in a few minutes, but the rest has got to be lived. The smell: that’s the first thing that hits you, promising everything in exchange for your soul. And the heat. Your shirt is straightaway a rag. You can hardly remember your name, or what you came to escape from. But at night, there’s a breeze. The river is beautiful. You could be forgiven for thinking there was no war; that the gunshots were fireworks; that only pleasure matters. A pipe of opium, or the touch of a girl who might tell you she loves you. And then, something happens, as you knew it would. And nothing can ever be the same again.”
― Graham Greene, The Quiet American

Tips on Travel to Vietnam

It's always warm in Southeast Asia apart from high mountains, so leave the heavy clothing at home. Cotton and breathable fabrics are always better than synthetics -- although cotton does wrinkle a lot when traveling! December through April is roughly the dry season in that region, although it can still rain a little. December is a good time to go in terms of temperature -- cooler than in the humid summertime. Either way, wearing more clothing (shirt sleeves and long pants) is always more respectful towards the Asian culture, especially when visiting temples and rural areas.