22-05-2012, 12:39 AM
(21-05-2012, 11:32 PM)honeyclover Wrote: [ -> ]so does it mean only after 29 may then cash flow comes in?
Nope. It means the stock cannot be traded anymore after 29 May 2012 since it would be suspended.
(21-05-2012, 11:32 PM)honeyclover Wrote: [ -> ]so does it mean only after 29 may then cash flow comes in?
(22-05-2012, 06:05 PM)FFNow Wrote: [ -> ]No, the money comes in around 10 days (excluding non-working days) after you send in the letter.
(22-05-2012, 08:27 PM)CityFarmer Wrote: [ -> ](22-05-2012, 06:05 PM)FFNow Wrote: [ -> ]No, the money comes in around 10 days (excluding non-working days) after you send in the letter.
If you are "Non-Assenting Shareholders" (you did not accept the offer after the Final Closing Date), Navis will compulsorily acquire your shares on 22 June 2012 (i.e. the Trasfer Date). Then the payment will be done after 22 June 2012.
(22-05-2012, 10:36 PM)Whaleseawit Wrote: [ -> ](22-05-2012, 08:27 PM)CityFarmer Wrote: [ -> ](22-05-2012, 06:05 PM)FFNow Wrote: [ -> ]No, the money comes in around 10 days (excluding non-working days) after you send in the letter.
If you are "Non-Assenting Shareholders" (you did not accept the offer after the Final Closing Date), Navis will compulsorily acquire your shares on 22 June 2012 (i.e. the Trasfer Date). Then the payment will be done after 22 June 2012.
So does that mean that one cannot hold on to the shares of the private firm? Just curious, do you know if PE firms such as Navis will usually attempt to restructure the company and re-list it again eventually?
Because if one can hold on to the shares of the private firm, and there is a high chance that Navis would eventually restructure it and either sell it at a much higher valuation or re-list it, would it not be better to not have accepted this offer?
(22-05-2012, 10:36 PM)Whaleseawit Wrote: [ -> ](22-05-2012, 08:27 PM)CityFarmer Wrote: [ -> ](22-05-2012, 06:05 PM)FFNow Wrote: [ -> ]No, the money comes in around 10 days (excluding non-working days) after you send in the letter.
If you are "Non-Assenting Shareholders" (you did not accept the offer after the Final Closing Date), Navis will compulsorily acquire your shares on 22 June 2012 (i.e. the Trasfer Date). Then the payment will be done after 22 June 2012.
So does that mean that one cannot hold on to the shares of the private firm? Just curious, do you know if PE firms such as Navis will usually attempt to restructure the company and re-list it again eventually?
Because if one can hold on to the shares of the private firm, and there is a high chance that Navis would eventually restructure it and either sell it at a much higher valuation or re-list it, would it not be better to not have accepted this offer?
Quote:Just curious - assuming you remain a shareholder of Adampak group post-delisting, wouldn't it be possible for the majority shareholder (Navis) to restructure the group and move all of its key subsidiaries into another Holding Company for $1 and you will be left with a worthless shell company ?
(23-05-2012, 12:03 PM)D123 Wrote: [ -> ]Quote:Just curious - assuming you remain a shareholder of Adampak group post-delisting, wouldn't it be possible for the majority shareholder (Navis) to restructure the group and move all of its key subsidiaries into another Holding Company for $1 and you will be left with a worthless shell company ?
I think in the case of private companies, minority shareholders can get protection from the law under Companies Act Section 216. A Google search shows that there is a recent precedent for this.
Relevant links:
Companies Act: http://statutes.agc.gov.sg/aol/home.w3p
Brief facts: http://www.lexology.com/library/detail.a...49a0348c5d
Verdict: http://www.bonvests.com.sg/cms/downloads/BuyRV.pdf