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Cash 35c nav 70c...share px only 23c...foc ??
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Joshua87
Member |
02-Oct-2023 03:19
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This resolution requires 75% approval since it is a special resolution as compared to ordinary resolution where 50%+1 share will be sufficient. Hence, Dr Wong with over 40% will be able to dictate whether the resolution pass or fail. Other than trying to manipulate the share price in his favour, I can't think of any other reasons why he would do such things.
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nngeeh
Veteran |
30-Sep-2023 22:25
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Dr Wong holds around 41,402,109 shares. The number of shares that voted against the resolution was 41,405,109. It is highly likely that Dr Wong single handedly voted down the resolution. Why did the directors propose the cash distribution (with the knowledge that Dr Wong can vote down any resolution), recommends all shareholders to vote in favour of the resolution in the circular of 7 September) and then Dr Wong voted the whole resolution down?? It is natural for the share price to go to 0.235 to 0.25 range after the proposal... and this also cause new investor to buy at the range... Are there any negligent from the whole board of directors with regards to this whole episode? Anyone affected, please write in to SGX and CAD go demand an explanation | ||||
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nngeeh
Veteran |
30-Sep-2023 20:56
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Just want to be sure before I write to sgx for investigation. Only 51,000,000 shares were voted (around 51% of total outstanding available shares). Did Dr Wong vote against the resolution as he owns less than 51% if I understand correct)? | ||||
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surewin73
Member |
30-Sep-2023 11:27
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Yes, You can see seller keep coming out and I think they already know the result. Really hope SGX or CAD can do a investigation on it. WTF OWNSELF PROPOSE OWNSELF REJECT ？ ？ ？ ？ Waste money on EGM . Something is fishy.
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Ltinvestor
Member |
30-Sep-2023 10:22
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My view is that Dr Wong Kar King owes all minority shareholders a proper explanation. He was a key member of the board that recommends shareholders to vote in favour of the resolution. And yet he voted against the resolution. If you are genuinely concerned, please email you concerns to SGX email address: [email protected] The more people write in the better. |
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ysh2006
Supreme |
30-Sep-2023 05:57
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Can Sgx query company did that ? Or those who attended the EGM give some light why ?.... | ||||
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Joshua87
Member |
29-Sep-2023 22:20
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Management need to explain why WONG KAR KING who is the major shareholder holding on to more than 40%, who is also a director of the company and core management team proposed the capital reduction and then ownself voted against the resolution? Given this is a special resolution which requires 75% approval, there is no way the resolution could have been passed without the support of WONG KAR KING. This EGM is a complete waste of shareholders money and WONG KAR KING shall be held accountable and answerable to all other shareholders. | ||||
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cumzilla
Member |
29-Sep-2023 21:55
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Looks really fishy, pushed up the price then rejected the resolution. | ||||
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ysh2006
Supreme |
29-Sep-2023 21:41
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Got money also don't want 81% rejected it ... | ||||
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cumzilla
Member |
29-Sep-2023 20:43
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Resolution did not pass is it, or did I see it wrongly? | ||||
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SmallSmall
Supreme |
29-Sep-2023 11:12
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Anyone attended the EGM today? Resolution passed? | ||||
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SmallSmall
Supreme |
07-Sep-2023 19:38
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NOTICE IS HEREBY GIVEN that an extraordinary general meeting (?EGM?) of the Company will be held on Friday, 29 September 2023 at 10.00 a.m. at Kent Ridge Guild House, 9 Kent Ridge Drive Singapore 119241, for the purpose of considering and, if thought fit, passing the following special resolution:
SPECIAL RESOLUTION ? PROPOSED CAPITAL REDUCTION AND CASH DISTRIBUTION |
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investshare
Supreme |
28-Aug-2023 19:37
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What are the remaining asset? Are they good quality?
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SmallSmall
Supreme |
28-Aug-2023 16:17
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Whole exercise based on past Capital Reduction will take about 8 weeks. 2-3 weeks to give notice of EGM Another 6 weeks after EGM before the Capital Reduction can take effect. Currently the stock is trading at $0.235 which means that on an ex- cash distribution basis ($0.232), your holding cost per shares is only $0.003 despite the company still worth $0.13 per share :)
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superstartup
Supreme |
28-Aug-2023 12:47
Yells: "Enjoy doing Fundamental Research" |
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This one on watch See can get free shares (buy at cost, and get cash return = cost) Now wait for long term retailers to offload 1st
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SmallSmall
Supreme |
24-Aug-2023 13:04
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Interesting. At current price of $0.24 despite up $0.158, does it mean the company will trade at $0.0078 after its proposed capital reduction cash distribution of $0.2322 per share? Not forgetting the company' s NTA would be $0.13 after the capitalr eduction. Just goes to show how undervalued some forgotten SGX stocks are (unless of course they unlock value like in this case) |
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ysh2006
Supreme |
24-Aug-2023 11:08
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Now wants to cap reduction give back 23.22c back us....
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newbie19
Supreme |
28-Dec-2022 13:48
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Joelton
Supreme |
15-Oct-2022 20:40
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Advanced Holdings disposes of two subsidiaries for $13.8 million
Engineering services company Advanced Holdings have announced that it plans to dispose of two of its subsidiaries for a total of $13.8 million.
On Oct 14, the company announced it has entered into two non-binding term sheets to dispose of the two subsidiaries.
The subsidiaries are Advanced CAE Pte Ltd in Singapore, known in the agreement as CAE SG, and Advanced CAE Limited in China, known in the agreement as CAE CN.
CAE SG will be sold for $3.2 million, and CAE CN will be sold for $10.6 million.
CAE SG will be sold to the Singapore-incorporated company Control and Application, a private company which is involved &ldquo in the business of whole trade of a variety of goods without a dominant product and investment holding.&rdquo
As at Oct 14, the shareholder of Control and Application is a Yang Xiao Fei, who holds 2.66% of Advanced Holdings.
CAE CN will be sold off to the China-incorporated company Control and Application, a private company involved in the business of providing technical service, technical development, technical consultation, technical exchange, technology transfer and technology promotion.
Yang, along with a Xie Su Rong are the China-incorporated company&rsquo s shareholders.
The sale of CAE SG will result in a loss of $0.6 million to Advanced Holdings after a $6 million dividend distribution, and the sale of CAE CN will mean a loss of $3.4 million.
CAE SG had a book value of $9.8 million, while CAE CN had a book value of $14 million.
The proceeds from the disposal will be divested into Advanced Holdings&rsquo s other businesses, namely, agritechnology and clean energy.
Advanced Holdings explains that the proposed disposals allow it to divest its underperforming businesses and limit its risks to the prolonged uncertainty of external economic factors.
Should the disposals go through, Advanced Holdings also will improve its cash reserves and will be able to redirect its managerial efforts into existing operations, expand into other businesses and undertake new investment opportunities that may arise in future.
The company&rsquo s board says that it is an &ldquo opportune and appropriate&rdquo time for the company to dispose of its existing business for a satisfactory consideration and have a healthier cash reserve.
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MakeChanges
Elite |
07-Jan-2022 08:01
Yells: "No price is too low for a bear or too high for a bull" |
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TRADING HALT ! | ||||
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