Further updates...
Cyclone - 3
safetyfirst - 6
nitro - 1
koh_52 - 2
ngcheeki - 1
ichew - 2
Kyle - 1
Behappyalways - 4
Best price - 1
CY09 - 1
www - 1
kbl - 3
total = 26
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 ?
Pls include 1 vote from me. Thank you all for the initiatives.
Hi guys, I cannot support the letter that includes the bonus warrants. We better be clear in what we want and stay focus. Giving out bonus warrants is the reverse of share buybacks in that it dilutes the eps.
The whole purpose of pushing for a share buy back is so that shareholders can benefit from the hoard of cash in lieu of a big dividend.
What's more as suggested by someone to issue bonus at a lower price; this was mooted by 1 shareholder(maybe the same guy again) in one of the AGM and was booed by other shareholders. So I can see what the mkt reaction will be like if it is introduce. I can understand why. here you have a company that is in net-net position with lots of cash and asking for $ with a discounted warrants....sounds a bit like those s-chips isn't it?
So for transparency sake I will write the letter too but I will change the part on the warrants to be AGAINST it if you guys want to go ahead on the letter as is.
tks for the effort nevertheless.
as a further suggestion, I think shareholder who send in their letter to put down how many shares they own.
I agree with Jacmar against the idea of issuing bonus warrants. Further to his point in dilution of EPS, my concern will be coughing out more money if you have a reasonable amount of holdings in the first place.
Cheers.
(04-03-2014, 08:03 AM)Jacmar Wrote: [ -> ]Hi guys, I cannot support the letter that includes the bonus warrants. We better be clear in what we want and stay focus. Giving out bonus warrants is the reverse of share buybacks in that it dilutes the eps.
The whole purpose of pushing for a share buy back is so that shareholders can benefit from the hoard of cash in lieu of a big dividend.
What's more as suggested by someone to issue bonus at a lower price; this was mooted by 1 shareholder(maybe the same guy again) in one of the AGM and was booed by other shareholders. So I can see what the mkt reaction will be like if it is introduce. I can understand why. here you have a company that is in net-net position with lots of cash and asking for $ with a discounted warrants....sounds a bit like those s-chips isn't it?
So for transparency sake I will write the letter too but I will change the part on the warrants to be AGAINST it if you guys want to go ahead on the letter as is.
tks for the effort nevertheless.
as a further suggestion, I think shareholder who send in their letter to put down how many shares they own.
Good morning Jacmar san and All.
I will use the first draft.
**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 suggestions.
Thank You.
Yours Sincerely**
Hi guys
I think the main issue is that we all agree that the company is undervalued and the Board and management should actively do something about it. It is ok if some shareholders are uncomfortable with the bonus warrants as shareholders need to throw in more cash in the future to prevent dilution of stake.
Let's try to get more shareholders to sign in and we will try to send out the letter together maybe on Thursday or Friday. Those shareholders who agrees with us but came to know of the letter late could add their name and send it to the company even if it is after Friday. Just to let the Board and Management know that many shareholders are concern with their investment in Sing Holdings.
In my email to the company, I will put my shareholdings next to my name. I will try to get a Top 10 shareholder in the company to sign up.
Tks for agreeing to my proposal. You can add my name to it now. Also if everyone is comfortable I will forward a copy of the letter to "The Edge" magazine to let them know that there is proxy fight ala not the same league as Icahn vs apple. See if they are willing to take it up and publish it. can someone send the same to Business Tines.
Updates
Cyclone - 3
safetyfirst - 6
nitro - 1
koh_52 - 2
ngcheeki - 1
ichew - 2
Kyle - 1
Behappyalways - 4
Best price - 1
CY09 - 1
www - 1
kbl - 3
Swinger - 1
Jacmar - 1
total = 28
there are still many people sitting by the fence waiting to reap......
(04-03-2014, 09:39 AM)Behappyalways Wrote: [ -> ]Updates
Cyclone - 3
safetyfirst - 6
nitro - 1
koh_52 - 2
ngcheeki - 1
ichew - 2
Kyle - 1
Behappyalways - 4
Best price - 1
CY09 - 1
www - 1
kbl - 3
Swinger - 1
Jacmar - 1
total = 28
there are still many people sitting by the fence waiting to reap......
hi all,
Please count me in : 1
Thank you very much for the effort.
my fren support 1 vote.
total heads count by VB = 30