If it is true the fair value of the shares are between 60.0 - 65.0 cts then the minorities have no alternatives but to hold on tight to the shares and to wait the whole process to be completed till the end... Of course we want to see whether there is any turn around plan by the major shareholders...
Just check whether this is possible return all the cash on pro rata basis (including the cash after the selling off of investment properties and assets)only then Abric sell off the listing status by way of RTO?? I being told listing status worth at least 10mil
Short Term Volatility Is Expected. Once Investor digested the Shock , things will stabilised. Furthermore this is just a proposal by Controlling Shareholder but yet to get the Approval Of Majority Shareholders.
The BODs is currently controlled by the Ong family, not sure whether they already have the support of 51% of the votes By the way, some one can confirm to delist a company whether they need at least 75% support of votes or not?
9. ESTIMATED TIMEFRAME FOR COMPLETION Barring unforeseen circumstances and subject to all relevant approvals being obtained, the Proposed Distribution and Delisting is expected to be completed during the second (2nd) quarter of the calendar year 2016.
page 16 / 151 of their Annual report regarding the directors remuneration.
Since this company has no core business anymore... Why is the Ong family still withdrawing such high salaries. Millions for "running" an all cash company. Oh well, if I were him, I would happily taking the salary too.
Still wonder how the company reported loss for their latest quarter?
2015 Annual report indicated that one of the executive directors, Caroline Ong (daughter of the chairman) only attended 3 out of the 5 meetings. This could be due to her being a full time MBA student at Oxford university from Sept 2014-Sept 2015. And she got paid >400k ringgit! How can small shareholders vote to reduce the no. of executive directors? Can we vote against relecting the chairman in this coming AGM and instead vote for Mr. Pui to be on the board to protect our interests?
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....