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13-05-2021, 05:12 PM
(13-05-2021, 11:07 AM)Small shareholders will obviously vote against this ridiculous giving away large sums of money/property for the privilege of throwing away a part of SPH which past management/shareholders with dedicated staff had built up to become an institution which Singaporean trust and Govt anxious to preserve. But I fear the current Chairman/CEO will still be successful in this foul deed due the big shareholders will just bite tongue and vote what the Govt want. weijian Wrote:(13-05-2021, 09:58 AM)TerryT Wrote: Isn’t this a done deal?
Management shareholders have voting rights of over 60% “during special voting”.
hi TerryT,
You should probably take a look here:
https://investor.sph.com.sg/main_shareholder.html
- Mgt shares are the same as Mgt shares when NOT voting for a director/member of staff (This means that Mr Umbrage is appointed/dismissed by Mgt shares)
- 99.9% of shares is held by public. Since Newspaper and Printing Act does not allow any single entity to own >5% of SPH, effectively no one is in control when voting to dispose a business.