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(17-11-2018, 02:32 PM)ghchua Wrote: (17-11-2018, 01:04 PM)opmi Wrote: in first Vard delisting EGM, I feel that the service providers and the IDs sided with the Company(controlled by Offeror) when minorities tried to adjourn with the circular discrepancy.
I remembered there was some arguments but in the end, they decided not to adjourn the EGM on account that the circular discrepancy will not result in a change in opinion on the IFA recommendation - i.e. the exit offer will still be deemed as not fair but reasonable even if the numbers for SembCorp Marine had been corrected.
In LTC Corp case, the argument is that the proposed consultation for change in delisting rules might affect the outcome of the vote at the EGM. Although the IFA opinion is that the exit offer is fair and reasonable, one of the proposed change is that the controlling shareholder cannot vote in the delisting resolution. Since the controlling shareholder holds more than 88% of LTC Corp, it is quite a significant event and the basis for adjournment is there.
OK. this development is good. Thanks!
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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26-11-2018, 02:57 PM
(This post was last modified: 26-11-2018, 03:01 PM by MOV.)
http://infopub.sgx.com/FileOpen/LTC_Upda...eID=535156
Trying 2nd time for EGM and probably ready to push through...should SGX have suspended all delistings resolutions until its consultation and new rules are completed??
(Not a recommendation to buy or sell, just stating facts)
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So mano managed to throw smoke bomb to the board successfully last time?
Did sgx co re reply on the use of that enforceable clause in company act?
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dont know if previously disclosed. never follow the LTC delisting
LTC owned the other 50%
Proposed disposal by the Company of its entire 11,517,999 ordinary shares in Angkasa Amsteel Pte Ltd ("AAPL"), representing approximately 50% of the share capital of AAPL to Daehan Steel Co. Ltd. for a cash consideration of SGD26.65 million (equivalent to approximately RM80.90 million)
http://www.bursamalaysia.com/market/list...ts/6029361
http://disclosure.bursamalaysia.com/File...TTACHMENTS
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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Announcement Title *
CHANGE OF NAME OF SUBSIDIARY
Description
The Board of Directors of Lion Teck Chiang Limited (the "Company") wishes to announce that its subsidiary,
Angkasa Hong Leong Pte Ltd has changed its name to Angkasa Amsteel Pte. Ltd. with effect from 1 July 2011.