Post Reply
81-100 of 540
We must remove the incompetent manager...
Look at the distress trending down prices....
Do your own judgement.
We cannot sit there and do nothing. Attend the EGM and cast your critical votes to remove the lousy manager!
😊 4x 'For', for me 🙌
HVRRVH ( Date: 18-Apr-2017 11:14) Posted:
|
I have received SIAS mailer to attend the dialogue on 21.4.17. Once again Sabana manager took the opportunity to emphasis the 'danger' of voting out the manager. This set the tone of the 'dialogue' and I won't be wasting time to attend. Whatever happened, I will wait for opportunity to exit this stock. Prepare to cut loss and recycle the capital for better stocks. Disappointed too that eshang and tong still keeping their card close to their heart and totally no indication what's their stand!!! If they are not coming in and if current manager continues, I don't see how the reit is going to turn around. Definitely not by buying overpriced properties to begin with. I think we all should just vote to wind up the reit and we all can move on.
Looking at the people in the S Riview, I would agree with you. These were the very same people who were not doing a very good job of overseeing the reit manager, so how can they do a good job now?
Merc85 ( Date: 15-Apr-2017 09:43) Posted:
|
Hoping can get a reply asap,... many of us are waiting to vote here !
If any investor buys 100 units of Sabana REIT today or tomorrow, will he be entitled to go to this EGM to vote ?
Sabana REIT yield now is about 7%. Not attractive compares to other REITs.
http://mystocksinvesting.com/singapore-reits/bubble-charts/singapore-reit-stock-shortlisting-bubble-charts-april-2017-pick-the-gems/
I am in view to remove the existing manager and vote for a new manager ... strategic review looks more like a show with no target timeline and clear indications...please see with your eyes open wide to know what is happening on ground ..do u still trust the existing manager??
Decide your fate of your money..
This is the time to decide on your choice...
Please be present at the upcoming egm on 28 Apr 17 and vote wisely..
Decide your fate of your money..
This is the time to decide on your choice...
Please be present at the upcoming egm on 28 Apr 17 and vote wisely..
Just like many wayangs put up by O&G coy during debt restructuring egm with bond holders & shareholders, only to end up kosong
Fully agree. why management only take action after being hit by stakeholders.
Merc85 ( Date: 15-Apr-2017 09:43) Posted:
|
without a good manager, its stock price will go down again after the meeting.
let' s see.
Article in reitsweek was pretty confusing to me. Thanks for your clarification. All 4 resolutions good with me ☺
ACTIVIST_SPEAKS ( Date: 15-Apr-2017 06:52) Posted:
|
I think the Strategic Review is a wayang show... they outline some high level goals but no date line and/or may not materilise.
Below is the para 7 of EGM notice.
7. STRATEGIC REVIEW OF SABANA REIT
On 2 February 2017, the Manager announced that it would be undertaking a strategic review of Sabana REIT (the &ldquo Strategic Review&rdquo ). In this connection, the Strategic Review Committee has been established to undertake a review of options available for Sabana REIT to enhance Unitholder value. The Strategic Review Committee comprises Mr Yong Kok Hoon (Independent Non-Executive Director, Chairman of the Strategic Review Committee), Mr Steven Lim Kok Hoong (Independent Non-Executive Director) and Mr Henry Chua (Non-Executive Director). The majority of the members of the Strategic Review Committee are independent directors.
The terms of reference of the Strategic Review Committee include the following:
(a) reviewing various options to improve the performance of Sabana REIT and
(b) sourcing and considering the proposals from potential strategic partners, and shortlisting partners who can enhance Sabana REIT&rsquo s performance in terms of: (i) ability to contribute pipeline of quality assets to Sabana REIT to improve current property portfolio mix (ii) improving the borrowing ability of Sabana REIT and (iii) ability to enhance the capability of the management team.
On 24 February 2017, the Manager announced that Morgan Stanley has been appointed as fi nancial adviser in relation to the Strategic Review. Morgan Stanley will be assisting the Strategic Review Committee in the Strategic Review and will report directly to the Strategic Review Committee.
On 1 March 2017, the Manager announced that the Strategic Review Committee, through Morgan Stanley, is in the process of making preliminary approaches to various parties to evaluate the viability of options available for its assets and business, which may include:
(a) a potential sale of the Units or assets of Sabana REIT and a sale of the Manager, and/or
(b) sourcing and considering potential strategic partners who can enhance Sabana REIT&rsquo s performance in terms of, inter alia, the following factors:
(i) ability to contribute pipeline of quality assets to Sabana REIT to improve the current property portfolio mix
(ii) improving the borrowing ability of Sabana REIT and
(iii) ability to enhance the capability of the management team.
The Strategic Review Committee has confi rmed, in an announcement on 6 March 2017, that it shall act in the best interests of all Unitholders as a whole over the interests of both the Manager and its shareholders in the event of a confl ict between the interests of (i) all Unitholders as a whole and (ii) the Manager and/or Manager&rsquo s shareholders .
The Strategic Review process is still ongoing. The Board wishes to emphasise that no defi nitive transaction has been entered into by Sabana REIT with any party and there is no assurance that any transaction will materialise from the strategic review. The Board will make appropriate announcements in the event of any material developments.
https://www.reitsweek.com/2017/04/embattled-sabana-reit-manager-calls-for-egm-amid-demands-to-step-down.html
The resolutions seem like being set up to pressurize shareholders to accept internalizing
ACTIVIST_SPEAKS ( Date: 14-Apr-2017 16:08) Posted:
|
To support the movement is akin to protect your investment. We are all have vested interest like you who do not wish to see our hard earned money has gone into the drain. So I urge all the small unitholders to protect our hard earned money by booting out the incompetent manager. Let show to the manager and SSH do not take us lightly.
mrwise ( Date: 14-Apr-2017 20:29) Posted:
|
I support your view as well.
To remain status quo and remain with lousy manager will likely push prices down again further.
Never get a lousy manager to manage the business...simple logic..and it is common sense to all.
Hope all investors think for their own interest.
It is not easy for us to get to this stage...we should not let it be waste..we have nice people here who lead this exercise for the interest of the minority small shareholders and we should all try our best to support.
To make it or not this time, shall depends on everyone support, be it small position or not, every votes count.
Please consider carefully and give your full support.
To remain status quo and remain with lousy manager will likely push prices down again further.
Never get a lousy manager to manage the business...simple logic..and it is common sense to all.
Hope all investors think for their own interest.
It is not easy for us to get to this stage...we should not let it be waste..we have nice people here who lead this exercise for the interest of the minority small shareholders and we should all try our best to support.
To make it or not this time, shall depends on everyone support, be it small position or not, every votes count.
Please consider carefully and give your full support.
HVRRVH ( Date: 14-Apr-2017 18:23) Posted:
|
Minority shareholders need to send a strong message to the manager. Our investment won' t become zero if the manager is kicked out. Putting aside differences, will Vibrant, eshang and tong let their money go to waste? Especially eshang who emerged well after activist movement started. If the current manager is kicked out, some suitable party will step up. This is not a reckless statement. I say this based on the fact that propertied under sabana are held in trust by the trustee, it is not the manager' s properties. I am sure the 2 major minority shareholders have contemplated all possible scenarios and have planned accordingly. The net change should the current manager is kicked out is exactly that, a change in manager. A new suitable manager will emerge because there are potential capable managers waiting in the wing. Do not worry about the loans. The condition imposed by lenders that loans may be recalled should there be a change in manager doesn' t mean loans will be recalled. If the current manager stay, it will do no good to the unit holders. As of now, still no update on strategic review. My mind is quite firmed up, I will send letter to DBS by Wednesday if thing remain status quote.
Kick out the manager , they are no different from parasites .
whats e rationale of wanting to push for sale? May i understand? In current market, and with the time lag to find buyers, break tenancy contracts etc... Is it even feasible? I think more cost will be incurred to pay the " incoming" manager.. Not sure if this is e best option for all shareholders.
ACTIVIST_SPEAKS ( Date: 14-Apr-2017 16:08) Posted:
|
After reading article, i feel that even internalising the mgr isn't good for shareholder but rather present a one off windfall for existing mgr. With so many properties already bought into the reit by present mgr, internalising will not solve. Best is to close down the reit to realise its nav, even at a discount.