12-04-2012, 10:04 AM
to all minority supporters.
look back at Lion AsiaPac in 2010.
a minority shareholder took the move to start a petition with over 50 shareholders signing it, and submitted to the company directors.
in addition, he also brought in the media to feature the petition in the Business Times and also the chinese papers.
eventually the management paid out the special dividend in between announcement dates.
there is hope, if a hero is willing to stand up
SINGAPORE - Minority shareholders of Lion Asiapac are making another push for the company to pay out special dividends. Previous calls for such distribution were ignored.
Their requests for special dividends at last year's annual and extraordinary general meetings went unheeded during the release of the company's 2009 half-year financial results last month.
Now, the minority shareholders want another extraordinary general meeting (EGM) before the release of Lion Asiapac's third quarter results on May 15.
Shareholders can request for an EGM if they hold 10 per cent of the total number of shares issued by a company - which amounts to a minimum of 4.05 million shares in Lion Asiapac's case.
However, the number of shares currently held by the minority shareholders amount to only 5 to 6 per cent.
The group is also trying to settle the issue informally through talks with the company's board of directors.
Mr Mano Sabnani, a Lion Asiapac shareholder, said: "The company has got more money than it needs. It can easily pay out 20 cents a share and still have a big cash hoard for new businesses."
Lion Asiapac, which manufactures electronic contracts and supplies scrap metal and quicklime, is a wholly-owned subsidiary of Malaysia-based Lion Group.
Minority shareholders have been asking to be rewarded for their investment after some recent positive developments.
Lion Asiapac successfully divested its subsidiary Anhui Jianghuai Automobile Co (AJAC) last year, which contributed $53 million to its net earnings of $88.5 million.
As of December 2009, Lion Asiapac's balance sheet stood at over $190 million.
Shareholders had previously petitioned Lion Asiapac's chairman Othman Wok, calling for the distribution of special dividends to boost the stock price, which is trading at a heavily-discounted 33 cents to its cash value of 47 cents.
The firm's company secretary then replied to shareholders, noting that "continuing effort is being made to explore new business opportunities in order to generate better returns for the group and enhancing shareholder value".
The reply did not specifically address the requests for special dividends.
Instead, it reiterated that "announcements will be made to, and/or approval will be sought from, the shareholders, as soon as details of any proposed project is finalised".
SINGAPORE - Minority shareholders of Lion Asiapac are making another push for the company to pay out special dividends. Previous calls for such distribution were ignored.
Their requests for special dividends at last year's annual and extraordinary general meetings went unheeded during the release of the company's 2009 half-year financial results last month.
Now, the minority shareholders want another extraordinary general meeting (EGM) before the release of Lion Asiapac's third quarter results on May 15.
Shareholders can request for an EGM if they hold 10 per cent of the total number of shares issued by a company - which amounts to a minimum of 4.05 million shares in Lion Asiapac's case.
However, the number of shares currently held by the minority shareholders amount to only 5 to 6 per cent.
The group is also trying to settle the issue informally through talks with the company's board of directors.
Mr Mano Sabnani, a Lion Asiapac shareholder, said: "The company has got more money than it needs. It can easily pay out 20 cents a share and still have a big cash hoard for new businesses."
Lion Asiapac, which manufactures electronic contracts and supplies scrap metal and quicklime, is a wholly-owned subsidiary of Malaysia-based Lion Group.
Minority shareholders have been asking to be rewarded for their investment after some recent positive developments.
Lion Asiapac successfully divested its subsidiary Anhui Jianghuai Automobile Co (AJAC) last year, which contributed $53 million to its net earnings of $88.5 million.
As of December 2009, Lion Asiapac's balance sheet stood at over $190 million.
Shareholders had previously petitioned Lion Asiapac's chairman Othman Wok, calling for the distribution of special dividends to boost the stock price, which is trading at a heavily-discounted 33 cents to its cash value of 47 cents.
The firm's company secretary then replied to shareholders, noting that "continuing effort is being made to explore new business opportunities in order to generate better returns for the group and enhancing shareholder value".
The reply did not specifically address the requests for special dividends.
Instead, it reiterated that "announcements will be made to, and/or approval will be sought from, the shareholders, as soon as details of any proposed project is finalised".
look back at Lion AsiaPac in 2010.
a minority shareholder took the move to start a petition with over 50 shareholders signing it, and submitted to the company directors.
in addition, he also brought in the media to feature the petition in the Business Times and also the chinese papers.
eventually the management paid out the special dividend in between announcement dates.
there is hope, if a hero is willing to stand up
(12-04-2012, 04:05 AM)ValueBeliever Wrote: [ -> ](11-04-2012, 11:24 PM)greengiraffe Wrote: [ -> ]Be very conservative with Chinese companies. I continued to maintain that 50% retainer at SAH should not be even considered as an eventual payout until you finally see the money. The only lucky thing is SAH is a Singapore incorporated company and BOD have to be extremely careful when handling corporate moves.
(11-04-2012, 07:37 PM)Underdogger Wrote: [ -> ]SAH has reiterated that it will distribute up to 50% of the sales proceeds upon completion of the deal.
So shareholders should not be unduly worried that money will be siphoned away
With the estimated 50mil RMB gain from the asset sales, we can expect SAH's NAV to be revalued upwards to about 19.7 cents.
So New Toyo (if full payout) will get 13.4 cents.
But not forgetting that New Toyo's FY11 EBITDA (without SAH) = $39mil, which is already higher than FY10 EBITDA with SAH ($36mil).
So any additional payout from SAH's deal is a bonus or steal
****
SUBSEQUENT EVENT
The Transaction, comprising the SWP Transaction and the GTPL Transaction, made progress subsequent to the
year ended 31 December 2011.
The China Securities Regulatory Commission granted approval of the SWP Transaction on 18 January 2012.
Subsequently, the Jiangsu provincial government issued certificates of approval on the transfer of SACPL’s equity
interest in JZAI on 19 January 2012 and on the transfer of SACPL’s equity interest in JZLM on 3 February 2012.
SACPL has fulfilled all conditions precedent to complete the SWP Transaction. The sales proceeds of RMB750
million were transferred by SWP to a designated escrow account with Bank of China. The GTPL Transaction,
conditional upon completion of the SWP Transaction, has also been substantially completed.
The preliminary estimate is that the Group will realise a net gain of approximately RMB50 million on the Transaction.
The Company intends to distribute up to 50% of the net proceeds of the Transaction upon completion, with the
distribution to be by way of dividend, capital reduction or such other manner as the Board shall conclude at a later
stage; and in respect of the remaining 50% (or more) of the net proceeds of the Transaction, the Company will
assess and explore various investment options to seek viable business opportunities in other areas of business.
Calling all Supporters of NEW TOYO, Pls attend AGM and press ID and CEO what they intend to do with the proceeds. Its clear the Co. is undervalued and what the directors want to do about improving valuation of the Co. We should not let them get away with brushing aside issue, and how NT intend to capitalize on SAH shell if 50% of the fund remain - to do what? NT is paying snr. Yen and we thus as shldrs should put press on him to be fair as such payment is coming out of Co. account. It is not just the fruit of his work, its also the sharing of our investment return.
SINGAPORE - Minority shareholders of Lion Asiapac are making another push for the company to pay out special dividends. Previous calls for such distribution were ignored.
Their requests for special dividends at last year's annual and extraordinary general meetings went unheeded during the release of the company's 2009 half-year financial results last month.
Now, the minority shareholders want another extraordinary general meeting (EGM) before the release of Lion Asiapac's third quarter results on May 15.
Shareholders can request for an EGM if they hold 10 per cent of the total number of shares issued by a company - which amounts to a minimum of 4.05 million shares in Lion Asiapac's case.
However, the number of shares currently held by the minority shareholders amount to only 5 to 6 per cent.
The group is also trying to settle the issue informally through talks with the company's board of directors.
Mr Mano Sabnani, a Lion Asiapac shareholder, said: "The company has got more money than it needs. It can easily pay out 20 cents a share and still have a big cash hoard for new businesses."
Lion Asiapac, which manufactures electronic contracts and supplies scrap metal and quicklime, is a wholly-owned subsidiary of Malaysia-based Lion Group.
Minority shareholders have been asking to be rewarded for their investment after some recent positive developments.
Lion Asiapac successfully divested its subsidiary Anhui Jianghuai Automobile Co (AJAC) last year, which contributed $53 million to its net earnings of $88.5 million.
As of December 2009, Lion Asiapac's balance sheet stood at over $190 million.
Shareholders had previously petitioned Lion Asiapac's chairman Othman Wok, calling for the distribution of special dividends to boost the stock price, which is trading at a heavily-discounted 33 cents to its cash value of 47 cents.
The firm's company secretary then replied to shareholders, noting that "continuing effort is being made to explore new business opportunities in order to generate better returns for the group and enhancing shareholder value".
The reply did not specifically address the requests for special dividends.
Instead, it reiterated that "announcements will be made to, and/or approval will be sought from, the shareholders, as soon as details of any proposed project is finalised".
SINGAPORE - Minority shareholders of Lion Asiapac are making another push for the company to pay out special dividends. Previous calls for such distribution were ignored.
Their requests for special dividends at last year's annual and extraordinary general meetings went unheeded during the release of the company's 2009 half-year financial results last month.
Now, the minority shareholders want another extraordinary general meeting (EGM) before the release of Lion Asiapac's third quarter results on May 15.
Shareholders can request for an EGM if they hold 10 per cent of the total number of shares issued by a company - which amounts to a minimum of 4.05 million shares in Lion Asiapac's case.
However, the number of shares currently held by the minority shareholders amount to only 5 to 6 per cent.
The group is also trying to settle the issue informally through talks with the company's board of directors.
Mr Mano Sabnani, a Lion Asiapac shareholder, said: "The company has got more money than it needs. It can easily pay out 20 cents a share and still have a big cash hoard for new businesses."
Lion Asiapac, which manufactures electronic contracts and supplies scrap metal and quicklime, is a wholly-owned subsidiary of Malaysia-based Lion Group.
Minority shareholders have been asking to be rewarded for their investment after some recent positive developments.
Lion Asiapac successfully divested its subsidiary Anhui Jianghuai Automobile Co (AJAC) last year, which contributed $53 million to its net earnings of $88.5 million.
As of December 2009, Lion Asiapac's balance sheet stood at over $190 million.
Shareholders had previously petitioned Lion Asiapac's chairman Othman Wok, calling for the distribution of special dividends to boost the stock price, which is trading at a heavily-discounted 33 cents to its cash value of 47 cents.
The firm's company secretary then replied to shareholders, noting that "continuing effort is being made to explore new business opportunities in order to generate better returns for the group and enhancing shareholder value".
The reply did not specifically address the requests for special dividends.
Instead, it reiterated that "announcements will be made to, and/or approval will be sought from, the shareholders, as soon as details of any proposed project is finalised".