TheContrarianTake note that Best Oracles have applied for a stay of execution of the winding up as they are appealing to the Court of Appeal. This means that the money in the trust will not be returned to the shareholders until the matter is heard by the Court of Appeal.
alexisinvestorCLIQ directors are wasting their time and money to go to the courts. Even if SC had approved their QA, it could still be rejected by shareholders in the EGM (just like Sona). Why don't the directors just move on with their life and return back the money to shareholders. Make everyone happy in the process...
hlt1110what can we do abt it? still need to hold this stock for how long?
TheContrarianYou can't do anything because even SC and Bursa are afraid. Nobody wants to be liquidator now because can get sued by Best Oracles. What I did was sold off all my Cliq shares at 69 sen months ago.
lse2016why is the distribution 73 sen for cliq? from what i understand, promoters cannot participate in the liquidation. so now there is 360.4 million in the trust account, 504752720 shares(this excludes those held by promoters)....so the distribution shud be 71.5 sen per share. why is it 73sen per share? where have i gone wrong?
lse2016or is it actually 71.5 sen per share and so the underpricing is just very little....
NorthSpring11Do not know why they dare to ask for director's fees ? why need to pay to them ? pay for them to pay for their lawyer fees to fight for against winding up. A group of rubbish directors.
NorthSpring11If no money to survive, please go to look for a job, dont like a beggar to ask for free money.
KareemabduljabbarI believe from what I read in the Bursa disclosure and also the newspapers that the board consists of independent directors and the directors who are conflicted. The conflicted directors are the original promoters who have sued the SC and been frustrating the liquidation. The independent directors been doing their job for a full and quick liquidation. If you angry your money is stuck, you should target the culprits and not the entire Board.
NorthSpring11You are right,It should be just the "best Oracles" rubbish.
TheContrarianShareholders can move a motion to sack those directors. All you need is a simple majority.
DK66Resolution 1 failed, resolution 3 passed, and resolution 2 withdrawn.
taitaumauExpected distribution to entitled shareholders
Trust Monies = 362.8 M (as at 27.9.16) Entitled shares = 484.7523 M First distribution per share = 0.7484 x 98% = 0.73345 not later than 30 days from the date of obtaining the sealed copy of the Order probably before end of october 2016
the balance 2% of the monies to Entitled Shareholders within one year from the First Distribution after deducting direct expenses related to the liquidation distribution and obtaining tax clearance.
rookieinvestor1Hi all, am totally new to SPACs. Can someone please tell me how does the liquidation process work? Once the liquidation of the company is through, investors will automatically get their money back without having to do anything? Is that how it works?
xatomicwhen is this going to be completed and cash returned to shareholders?