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Hi Dreamybear,
Yes you are right. The company has announced that it does not see that it will be unsuspended soon in its below announcements. They are looking for ways of a delisting or avenue for shareholders to realize value such as EAO or total delisting. So shareholders are now held captive by BW board.
https://links.sgx.com/FileOpen/2021%2011...eID=690473
While the company and advocates could have said the reason for no dividends and an offer of $1.36 is for prudence. The actions of the the 3 EDs of their pay tells a different story (there is no prudence). From the annual reports of AR 2018 vs AR 2020, the remuneration of the 3 executive directors have risen from s$12 million to s$32 million. As a proportion of the group's net profits, it was 18.6% and 23.7% for FY2018 and FY 2020 respectively. It shows their pay is growing faster than profit growth.
I don't have a solution for existing shareholders who are stuck, however, I think you will need an investor advocacy group to step in or appeal to SGX regco as shareholders. Other valuebuddies could weigh in with their experience on how minority shareholders could appeal to the board/IDs in giving them avenues to realize the value of their stake via a fair EAO or delisting offer.
Yes you are right. The company has announced that it does not see that it will be unsuspended soon in its below announcements. They are looking for ways of a delisting or avenue for shareholders to realize value such as EAO or total delisting. So shareholders are now held captive by BW board.
https://links.sgx.com/FileOpen/2021%2011...eID=690473
While the company and advocates could have said the reason for no dividends and an offer of $1.36 is for prudence. The actions of the the 3 EDs of their pay tells a different story (there is no prudence). From the annual reports of AR 2018 vs AR 2020, the remuneration of the 3 executive directors have risen from s$12 million to s$32 million. As a proportion of the group's net profits, it was 18.6% and 23.7% for FY2018 and FY 2020 respectively. It shows their pay is growing faster than profit growth.
I don't have a solution for existing shareholders who are stuck, however, I think you will need an investor advocacy group to step in or appeal to SGX regco as shareholders. Other valuebuddies could weigh in with their experience on how minority shareholders could appeal to the board/IDs in giving them avenues to realize the value of their stake via a fair EAO or delisting offer.