Isn’t this a done deal?
Management shareholders have voting rights of over 60% “during special voting”.
(13-05-2021, 09:58 AM)TerryT Wrote: [ -> ]Isn’t this a done deal?
Management shareholders have voting rights of over 60% “during special voting”.
hi TerryT,
You should probably take a look here:
https://investor.sph.com.sg/main_shareholder.html
- Mgt shares are the same as Mgt shares when NOT voting for a director/member of staff (This means that Mr Umbrage is appointed/dismissed by Mgt shares)
- 99.9% of shares is held by public. Since Newspaper and Printing Act does not allow any single entity to own >5% of SPH, effectively no one is in control when voting to dispose a business.
Newspapers around the world are having a hard time making a profit , since the news now comes to computer in our home and to mobile phone in our hand .
So its better to sell and re-invest the funds in another sector.
(13-05-2021, 05:12 PM)john Wrote: [ -> ] (13-05-2021, 11:07 AM)Small shareholders will obviously vote against this ridiculous giving away large sums of money/property for the privilege of throwing away a part of SPH which past management/shareholders with dedicated staff had built up to become an institution which Singaporean trust and Govt anxious to preserve. But I fear the current Chairman/CEO will still be successful in this foul deed due the big shareholders will just bite tongue and vote what the Govt want. weijian Wrote: [ -> ] (13-05-2021, 09:58 AM)TerryT Wrote: [ -> ]Isn’t this a done deal?
Management shareholders have voting rights of over 60% “during special voting”.
hi TerryT,
You should probably take a look here:
https://investor.sph.com.sg/main_shareholder.html
- Mgt shares are the same as Mgt shares when NOT voting for a director/member of staff (This means that Mr Umbrage is appointed/dismissed by Mgt shares)
- 99.9% of shares is held by public. Since Newspaper and Printing Act does not allow any single entity to own >5% of SPH, effectively no one is in control when voting to dispose a business.
Does anybody know if management shareholders are eligible to vote on the demerger?
If so, do they carry the voting rights of 200 to one management share?
And does it have to gain acceptance by 75% shares or just 50.1% ?
Silly question from me, as the events unfolded so far, it seems almost inevitable. From an SGX disclosure perspective, it is done correctly? The information being disclosure so far are material and there is no EGM yet.
But I haven't heard anything from SGX. The only thing they did was halting the trading before the press conference.
This is a good read from a media professional competing in the same space about the competition that SPH is facing and what SPH can potentially do. (provided they can execute)
http://iambryanchoo.com/can-sph-be-saved/
I like this paragraph. It speaks to the type of transformation that they need, which is to be a better digital platform company instead of a better news company and the sort of
people they need.
Quote:There’s an extremely toxic mindset that flows through SPH right now. You see it in every SPH press release that accompanies their financial results. There’s that belief being paraded out that it’s not possible to run a profitable media business in this age. That is BS. And it does a disservice to all current employees of SPH. They have so many young talents who have grown disillusioned due to this lack of leadership. They want to make things work, but they can’t because their management is so resistant to change and their decisions confuse their employees.
Many years ago (around 2009) I interviewed at SPH for a role in their digital business. I was not very impressed because the guys running were former journalists and their strategy was basically "let's do what Google is doing" without being aware that they had neither the scale or the tech to do it, and no differentiator. What they ended up with was an inferior product that stood in stark contrast with Google.
StreetSine Technology Group
Singapore Press Holdings Limited (the “Company”) refers to its previous announcements in relation to the judicial management and interim judicial management applications filed by (inter alia) StreetSine Technology Group Pte Ltd (formerly known as CoSine Holdings Pte Ltd) (“SSTG”) in the Singapore High Court.
Pursuant to Rule 704(23) of the Listing Manual of the Singapore Exchange Securities Trading Limited, the Company wishes to update that there have been no material developments in relation to SSTG which have a significant impact on the Company’s current financial situation.
The Company will keep the shareholders informed of the progress of the matter and will make further announcements, when appropriate.
Stay home and stay safe, everyone.
(14-05-2021, 08:50 AM)LionFlyer Wrote: [ -> ]This is a good read from a media professional competing in the same space about the competition that SPH is facing and what SPH can potentially do. (provided they can execute)
http://iambryanchoo.com/can-sph-be-saved/
I like this paragraph. It speaks to the type of transformation that they need, which is to be a better digital platform company instead of a better news company and the sort of people they need.
Quote:There’s an extremely toxic mindset that flows through SPH right now. You see it in every SPH press release that accompanies their financial results. There’s that belief being paraded out that it’s not possible to run a profitable media business in this age. That is BS. And it does a disservice to all current employees of SPH. They have so many young talents who have grown disillusioned due to this lack of leadership. They want to make things work, but they can’t because their management is so resistant to change and their decisions confuse their employees.
Many years ago (around 2009) I interviewed at SPH for a role in their digital business. I was not very impressed because the guys running were former journalists and their strategy was basically "let's do what Google is doing" without being aware that they had neither the scale or the tech to do it, and no differentiator. What they ended up with was an inferior product that stood in stark contrast with Google.
He may have fine points regarding the survival of SPH *as a business*. I’m afraid, however, that path leads to news being an adjunct to making money. Fine examples abound of poor quality “news” organisations that publish stuff (in some cases the headlines are the main point !) just to collect eyeballs and advertising.
Singapore, as a country, needs good news organisations, preferably several. Some may say that ST has poor journalism anyway, but that doesn’t mean you gotta go the other way and not try. Good news organisations are a public good.