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It just happened that on one particular day, some rich company decided to come and buy over their slaughtering business, and leaving the company with just a shell with some investments in China. Over time, the businesses in China were also sold off, and the company is left with just cash. According to management, they had been trying to find a good business to buy to continue the listing, but alas...

So now they have no business to continue listing.

I believe CityFarmer will be able to give better details as he did much more research than me.

(05-11-2013, 12:26 PM)NTL Wrote: [ -> ]It just happened that on one particular day, some rich company decided to come and buy over their slaughtering business, and leaving the company with just a shell with some investments in China. Over time, the businesses in China were also sold off, and the company is left with just cash. According to management, they had been trying to find a good business to buy to continue the listing, but alas...

So now they have no business to continue listing.

I believe CityFarmer will be able to give better details as he did much more research than me.

Thanks for the explanation. Now I understand.
Much appreciated.

(05-11-2013, 12:26 PM)NTL Wrote: [ -> ]It just happened that on one particular day, some rich company decided to come and buy over their slaughtering business, and leaving the company with just a shell with some investments in China. Over time, the businesses in China were also sold off, and the company is left with just cash. According to management, they had been trying to find a good business to buy to continue the listing, but alas...

So now they have no business to continue listing.

I believe CityFarmer will be able to give better details as he did much more research than me.

You have said it all, loud and clear

I wonder your reason(s) for not exits at 26 cents or above, rather keeping it till now? Hoping for a RTO?

I had actually divested majority when it was 40+c last yr, leaving only the 2lots to participate in any shows that would and will happen. As mentioned before, I did not, and still don't really dig deep into any companies before investing, or divesting in this case, so missed out the run from 40c to 60+c...

(05-11-2013, 06:04 PM)NTL Wrote: [ -> ]I had actually divested majority when it was 40+c last yr, leaving only the 2lots to participate in any shows that would and will happen. As mentioned before, I did not, and still don't really dig deep into any companies before investing, or divesting in this case, so missed out the run from 40c to 60+c...

I see. I bought at 40+ cents, after few rounds of dividend, including the 1st capital reduction distribution, with total around 37 cents. I exited around 33 cents to recycle the capital.

The exact amount of cash left in the company is S$11.397 million, or 8.4 cents per share, base on the latest announcement.

Ref: http://infopub.sgx.com/FileOpen/EliteKSB...eID=262790

Well, this show is coming to an end. Shall be watching and participating in F&N next.

The shares start trading at 13.5c, dropping to current 9c. Still above the cash level. Do these people know something else? Hmmm....

In the previous trading session, it was trading at 26c. Now at 9c. People who held shares for a RTO were paying for a retarded 17c premium. Even me, with a small and stupid brain, thinks it is a dumb deal to pay 26c to hope for a RTO

You mean the others are retarded? Isn't that a little harsh?

Maybe at this price, it will be more feasible for some company to do a RTO?

when mr mkt is manic, sell to him lor.

BTW any observations on perceived value of a clean shell company on SGX?