Wheelock Properties

[specuvestor]

My guess is IF SCGD meets all the requirement for delisting then there should be no issue with it. This is not the case of China Sky where they failed to meet SGX's compliants. It will take a while but it won't take so long that might end up screwing SCGD. Plus Simon has all the incentives to push for it.

I am not sure. Pertama met all requirements for delisting by SGX ( < 10% free float) but it is still in suspension even though the 1 year mandatory no-offer period is over for a few months.
I did not see SGX putting up any query or pushing Pertama to delist. Any clue?
If Wheelock persists, SC global will end up just like Pertama. ( < 10% free float but cannot delist via companies act)

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Logically (or at least to me), Wheelock would be in a favorable position to discuss for a better deal post-delisting. What's exactly puzzling is they have openly declare the offer to be low-ball, bought a couple more at above $1.80 and yet surprisingly tendered all last night. It's not a couple of S$100Ks which they lost because their unit cost was way above S$1.80 when they bough SCGD at a high back then.

What if SC decides to pay the ABSD and punish Wheelock??
Wheelock is basically at SC's mercy.

General Magnetics' minority shareholders know the best of being in a delisted firm.

how could SC punish Wheelock without hurting itself. Wheelock has a much bigger pocket than SC.

between SC and Wheelock, the scale is favorable to Wheelock.

Gen Mag shareholders also have big pocket but they cannot force Gen mag to liquidate neither can they force Gen mag to buy their shares at fair value.

Once SC Global is delisted, SC will call the shot on how the company is run. He can take his own sweet time to slowly extract values from SC Global without giving much(or none) to Wheelock.

I am not sure what can a minority shareholder do in a unlisted company. Any expert here??

If SGX wants to delist pertama it can happen tomorrow like it did with Gen Mag and others. They are the final say in listing rules if it is breached. I've only heard of companies requesting extension of delisting, never SGX offering extension

SCGD is different from Gen Mag because of the time bomb. That forces Simon to act swiftly to avoid value destruction TO THE MAJOR SHAREHOLDER. There is no such major issue in Gen Mag as the "staff" salary is "respectable"