(03-03-2014, 09:25 PM)Behappyalways Wrote: [ -> ]I can get 4 shareholders(better be sure not to double count)
Below is a draft. Any other suggestions or corrections? I wrote a 'mild' letter expressing our concern. Don't want to make any people lose face during the process..
once we agree to the letter format and content. We can all copy the letter and email to the company with our names included in it. I think that many people including myself would want to protect one's privacy.
3 March 2014
Sing Holdings Limited
96 Robinson Road
#10-01 SIF Building
Singapore 068899
Dear Board of Directors and Mr Lee
We are a group of shareholders writing in to express our concern with the share performance of Sing Holdings for the past few years. We are disappointed with the Board and Management inaction towards the under performance of the share price. Shareholders' call for a share buy-back has been resisted by the Board and Management as you feel that cash could be better utilised. But after so many years, we do not feel that we had benefitted from the growth of the company as much as the management.
A share buy back mandate and when exercised would send a STRONG signal that the share price is undervalued and that the Board and Management support and share the minority shareholders' concern. With the current bearish property market sentiment, we feel that there is no better use of funds than to buy one's own undervalued shares. Therefore we strongly recommend a share buy back exercise.
With positive net current assets and receivables due from The Laurels Project, we hope you would seriously consider a sizeable dividend payout to reward shareholders' trust in the Board and Management over the past few years.
We deeply appreciate your time and effort in considering these proposals.
Thank You.
Yours Sincerely
Shareholder A's name
Shareholder B's name
.....
.....
Shareholder E's name
Behappyalways: Thank you very much for the draft.
hi guys,
There is a suggestion from a shareholder.........
Is it possible that in your letter, you offer them another suggestion, as in ask them to consider what the CEO of 2nd chance did, i.e. to issue free warrants that will allow shareholders to subscribe for more shares.
They may be open to this suggestion because more money can flow into the company which seems to be what they are focusing on
hi guys,
There is a suggestion from a shareholder.........
Is it possible that in your letter, you offer them another suggestion, as in ask them to consider what the CEO of 2nd chance did, i.e. to issue free warrants that will allow shareholders to subscribe for more shares.
They may be open to this suggestion because more money can flow into the company which seems to be what they are focusing on
Cyclone - 4
safetyfirst - 4
nitro - 1
koh_52 - 2
ngcheeki - 1
ichew - 2
Kyle - 1
Behappyalways - 4
total = 19
(03-03-2014, 10:34 PM)Behappyalways Wrote: [ -> ]hi guys,
There is a suggestion from a shareholder.........
Is it possible that in your letter, you offer them another suggestion, as in ask them to consider what the CEO of 2nd chance did, i.e. to issue free warrants that will allow shareholders to subscribe for more shares.
They may be open to this suggestion because more money can flow into the company which seems to be what they are focusing on
Yes, I support the idea of free warrants.
You can count my vote in as well for the petition
For the warrants hopefully the company sets the warrants at a reasonable exercise price
(03-03-2014, 10:35 PM)Behappyalways Wrote: [ -> ]hi guys,
There is a suggestion from a shareholder.........
Is it possible that in your letter, you offer them another suggestion, as in ask them to consider what the CEO of 2nd chance did, i.e. to issue free warrants that will allow shareholders to subscribe for more shares.
They may be open to this suggestion because more money can flow into the company which seems to be what they are focusing on
Cyclone - 4
safetyfirst - 4
nitro - 1
koh_52 - 2
ngcheeki - 1
ichew - 2
Kyle - 1
Behappyalways - 4
total = 19
Oops, I have sent the email with the former draft.
I can only assemble 3 persons, including myself. One has sold out his shares, due to frustration. He thought it was better to switch to other beaten down property stock, instead of holding onto Sing Holdings.
Behappyalways san, thanks for the draft.
Cyclone - 3
safetyfirst - 4
nitro - 1
koh_52 - 2
ngcheeki - 1
ichew - 2
Kyle - 1
Behappyalways - 4
total = 18
Cyclone - 3
safetyfirst - 6 ( i found 2 more friends who own the shares)
nitro - 1
koh_52 - 2
ngcheeki - 1
ichew - 2
Kyle - 1
Behappyalways - 4
Best price - 1
CY09 - 1
total = 22
If i have made a mistake in the updating, please correct me. And perhaps, let's exercise a little patience, finalise everything first then send the draft in together, ok ?
Hi cyclone you can recall or cancel your email.
http://www.youtube.com/watch?v=oP4wfXDWPoE
I did some editing in which bonus warrants are added in the draft. In the last sentence, I change the word proposals to suggestions.
3 March 2014
Sing Holdings Limited
96 Robinson Road
#10-01 SIF Building
Singapore 068899
Dear Board of Directors and Mr Lee
We are a group of shareholders writing in to express our concern with the share performance of Sing Holdings for the past few years. We are disappointed with the Board and Management inaction towards the under performance of the share price. Shareholders' call for a share buy-back has been resisted by the Board and Management as you feel that cash could be better utilised. But after so many years, we do not feel that we had benefitted from the growth of the company as much as the management. A bonus warrants for example can be issued, rewarding shareholders while preserving cash.
A share buy back mandate and when exercised would send a STRONG signal that the share price is undervalued and that the Board and Management support and share the minority shareholders' concern. With the current bearish property market sentiment, we feel that there is no better use of funds than to buy one's own undervalued shares. Therefore we strongly recommend a share buy back exercise.
With positive net current assets and receivables due from The Laurels Project, we hope you would seriously consider a sizeable dividend payout to reward shareholders' trust in the Board and Management over the past few years.
We deeply appreciate your time and effort in considering these suggestions.
Thank You.
Yours Sincerely
Shareholder A's name
Shareholder B's name
.....
.....
Shareholder E's name
Good evening everyone.
Thank you Behappyalways San.
I can assemble 3 at the moment.
Shall we send the draft together to Boss Lee this Friday 7th?