All minority shareholders need to be united to vote against the acquisition by Aspire Insight. Lets do the maths:EPF have let say 10% of Kian Joo, and EPF cannot vote because it is an interested party. So only 90% of shares can vote. For the proposal to fail, assuming all the 90% attended the EGM, we need to have 90% x 25% = 22.5% vote.Can-One now has 32.9% shares. In order to neutralise the 32.9%, we minority shareholder + See family need to only garner 11%. And we need to hope Can-One has no supporter. Any additional 1% vote for Can-One, we need additional 0.33% to vote against.So the minority shareholder need to be united. If you cannot attend EGM, send proxy and remember to mark your vote AGAINST the proposal. Dont leave it blank.
4) To approve the payment of Directors’ Fees amounting to RM632,000 in respectof the financial year ended 31 December 2013 6) To re-elect Director, Dato’ Tan Guan Cheong who retires pursuant to Article108 of the Articles of Association of the Company 7) To re-elect Director, Y.A.M. Tunku Zain Al-’Abidin Ibni Tuanku Muhriz who retirespursuant to Article 108 of the Articles of Association of the Company8)To re-elect Director, Dato’ Mah Siew Kwok who retires pursuant to Article 108of the Articles of Association of the Company.
See Teow Koon 是唯一反对的懂事,所以我会支持他,会投议程5.请没出席的人也一起履行股东职责,寄proxy form.
Kian Joo: Another See booted out. The See family is seeing their presence dwindling in the Kian Joo Can Factory Bhd (KJCF) group, having swallowed two boardroom defeats over the past two days. Teow Koon, who is against the takeover offer by Aspire, fails to get re-elected to KJCF Board. (Source: The Edge Financial Daily) - http://klse.i3investor.com/blogs/kltrader/50369.jsp
Yes, every smart investor knows that the whole exercise is a con job by some one to buy over Kian Joo assets cheap and then re list at about RM6.00 as per recent report in Edge Malaysia. However investors are not that stupid and surely demand a sale price of at least RM5.00.
bought some during the correction on FRI...since canone wanted to buy over KJ @ 3.30... expected some proxy might slowly collecting it at a discount ...
We refer to our announcement dated 29 October 2014 in respect of the above matter.
The striking out application by Kian Joo was fixed for clarification/decision on 14 November 2014. Upon further clarification and submission, the Kuala Lumpur High Court allowed Kian Joo's striking out application with costs of RM30,000. As a result, the Plaintiff's amended Writ of Summons and amended Statement of Claim have been struck out.
A classic case of what happens when siblings fight. Now they have to stick together to prevent the "fall" of 'their' company. SAD. I love KIAN JOO as it is. Hope she remains this way. I am losing all good dividends.
Sorry, shareprofit, I think you might be wrong. Any dividends paid will be deducted from that RM3.30. The last dividend paid was waived from deduction from the offer price. Some little hope, though, any increase of the offer price from possible land revaluation???????
When directors fight, the small shareholders have to grin and bear it. I guess we have to wait out another year. Why Chee and EPF want to take over Kian Joo? Greedy???? Now no more dividends to be given out. I do not support the takeover.
Why Chee and EPF buy direct from Kian Joo rather than collect from the market? Of course the original owners will oppose; and the minorities suffer from share inactivity and no dividends. Will the share price collapse from all the court actions and uncertainty? A result of greed, 'revenge' and unfairness. I am frust..........
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Posted by kenrixx > 2014-03-25 00:25 | Report Abuse
25cents?