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The Board of Directors (the "Board") of Financial One Corp. (the "Company") wishes to inform the shareholders of the Company (the "Shareholders") that Mr Andre J.L. Koo, a controlling shareholder of the Company has communicated to the Company that he is contemplating making a proposal to the Company to seek for a voluntary delisting of the Company from the Official List of the Main Board of the Singapore Exchange Securities Trading Limited (the "SGX-ST") pursuant to Rules 1307 and 1309 of the listing manual (the "Listing Manual") of the SGX-ST and an exit offer to Shareholders in connection therewith ("Contemplated Transaction"). The Company has not received any delisting proposal or indication of any firm intention to make an offer for the shares of the Company (the "Shares") from Mr Andre J.L. Koo.

http://info.sgx.com/webcoranncatth.nsf/V...penelement

any idea why Financial One Corp wanna seek delist?
Taking opportunity of the current depressed price ? Just about 3 years ago they listed @ 1.15. Now may be they want to delist at a little premium over the current price ?
Still suspended. Actually what are the company and Mr Andre J.L. Koo up to ?
offers a great special situations opportunity, offer price is ridiculuously low, it is a good fundamental franchise that just got hit by US ops write off, no wonder the owner wants to delist.

Am quite sure that the offer price would be revised higher at a min at NTA
Most likely shareholders will vote for delisting but refuse to accept the exit offer. They will wait for it to re-list in Taiwan at higher prices to make a huge profit. This is very speculative and high risk !
(24-12-2010, 12:50 PM)Nick Wrote: [ -> ]Most likely shareholders will vote for delisting but refuse to accept the exit offer. They will wait for it to re-list in Taiwan at higher prices to make a huge profit. This is very speculative and high risk !

actually not high risk, the risk reward at the current price is very strong, even if they wrote off the impairment loss against equity the valuations would be much higher as their core business makes money