KUALA LUMPUR (June 26): The cut-off date for the proposed disposal of Kuchai Development Bhd’s (KL:KUCHAI) assets and liabilities to Sungei Bagan Rubber Company (KL:SBAGAN) in return for a 29.37% stake in Sungei Bagan has been extended by four months to October 29.
The two companies on Wednesday signed a supplemental letter for the extension, according to Kuchai and Sungei Bagan's filings with the stock exchange, which did not specify the reason for the extension.
Delisted share maybe big problem for sg Bagan, I still holding shares of Ytl land, nstp just to name a few..no dividends even annual report for delisted Share holders.
Ref. SB 4Q report (ending 30/6/24) released on 28/8/24 As in the past, GE shares are classified as investment under non-current assets. So, may i assume that SB has no intention to dispose of the shares within 1 year ? Any possibility that the shares be re-classified as current assets b4 auditor sign off his report ? ? ?
Disappointing dividend of 8c...less than 1.4% yield. My original stake already > DOUBLED so I'll hang on to as many shares as possible while awaiting my stake in Kuchai to give me more! Kuchai itself stands to receive $2.14 mil cash.
SINGAPORE (Oct 22): Great Eastern now has till Jan 24, 2025 to comply with the free float rule. The extension was announced on Monday, two days before the company’s previous deadline of Oct 23.
On Aug 2, Great Eastern said it had received approval from the Singapore Exchange Securities Trading that it had until Wednesday to explore options to restore its public float. The trading of shares in Great Eastern was suspended from 9am on July 15.
The company lost its free float on June 14, when offeror Oversea-Chinese Banking Corporation (OCBC) received 1.48 million shares — or 0.31% acceptances from shareholders — taking the bank’s total stake to 90.16%..
If SBagan accepts the offer, OCBC will be allowed to compulsorily acquire the remaining Great Eastern shares currently held out by a few Singaporean individuals.
FORMER remisier Ong Chin Woo, who fought to unlock value for minority shareholders of Great Eastern earlier this year, has begun the next stage of his campaign.
In a letter dated Nov 15, Ong asked the board of OCBC to consider distributing all the Great Eastern shares the banking group holds.
By his reckoning, OCBC shareholders could receive approximately 98 Great Eastern shares for every 1,000 OCBC shares they own. Based on Great Eastern’s last traded price, this proposed distribution would be worth just over S$2.50 per OCBC share.
OCBC in 2024 made a $1.4 billion bid to take full control of the 116-year-old insurer, its third attempt to do so since 2004. The bank held almost 94 per cent of Great Eastern after the takeover offer closed in July. That ownership level wasn’t sufficient for the insurer to delist or for OCBC to compulsorily acquire the rest of its shares.
The latest meetings signal that Singapore’s second-largest lender may still be exploring ways to secure full control of the company. OCBC can make a revised offer six months after the close of the previous offer, under the city-state’s takeover code.
“Any actions that we take will always be guided by the interests of OCBC and our shareholders,” the bank’s spokesperson said in response to queries from Bloomberg News, declining to comment on any meeting.
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dompeilee
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Posted by dompeilee > 2024-08-01 10:03 | Report Abuse
SOLD 1 lot @ $6.34 to secure my 992nd consecutive capital gain day since July 29th 2020!🤗