Certainly you are right! But what can poor SG investors do? In the first pl, the market price should not have been so low compared to NAV of 46 cents. If the market valued it better -- at say 35-40 cents --- then the exit offer would have to be higgher.
So Look for the S-chips that are trading way below cash level and way below NAV, you ask yourself would you buy the stocks>? Don't make noise if you dare not and a delisting offer comes along that is too cheap to be true
[hr]
[Non fool 15-10-2012]:
It's a fool to accept the management's offer of 18.6 cents. The IPO price was 54 cents in 2006 and now its NAV is 46 cents. The management is taking advantage of the poor market condition of S-chip, and doesn't offer a fair value to delist the company, they just don't care about the investors loyalty all these years. Such an exit offer is shameful, it only displaces an attitude of a big bully in the market place SGX.. Independent valuers needed...
Here I'm not talking about dare or dare not... I'm voicing about fairness in the exit offer from the 3 directors who know how much Synear really worth. This peanut offer of 18.6 cents is an insult to us investors... I'm not talking of speculators or traders, even these people who have the knowledge of Synear business will understand we have to eat our humble pie if these bullies are successful in their bid...
I voted against NeraTel's Cash Offer of $0.45 per share and I'm happy about the outcome. I'll vote against the delisting of Synear Food also. This was the first S-Chip I bought in 2007, 2008 & 2009 at an average cost of $0.511 ~ Lost big if delisted at $0.185.
NextInsight
a hub for serious investors
