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The boss was very kind I guess, took the company private, at least minor shareholders can get back money.
NextEvolution ( Date: 23-Mar-2018 08:12) Posted:
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Now thinking back in 2016, Otto Marine took company private actually saved many shareholders money, at 32c a share.
http://www.straitstimes.com/business/companies-markets/otto-marine-announces-delisting-deal
The company just went into judicial management and seems going under for good with its massive debts of $1.16 billion
http://www.singaporelawwatch.sg/slw/headlinesnews/118306-otto-marine-goes-under-judicial-management.html#sthash.oyeRQHNk.dpbs
http://www.straitstimes.com/business/companies-markets/otto-marine-announces-delisting-deal
The company just went into judicial management and seems going under for good with its massive debts of $1.16 billion
http://www.singaporelawwatch.sg/slw/headlinesnews/118306-otto-marine-goes-under-judicial-management.html#sthash.oyeRQHNk.dpbs
So lucky! You gets to keep the Cert! I never seen how a sahre cert looks like. Can post?
jm2212 ( Date: 03-Dec-2016 18:22) Posted:
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I didn't accept the delisting offer and they sent me share cert last month.....and then I received a cheque yesterday stating that is compulsory take over....where got such thing?
Contagion is the keyword. FYI a lot of marine workers already sent back to their home towns. Working Contract stopped or not renewed.
Why? If you ask me why. Probably you ask yourself why. DYODD.
Long kang stock also this counter otto marine probably.
Buy ah buy ah.
when every one fear you buy ah. Think again.
Take The papers put as wall papers...
Why? If you ask me why. Probably you ask yourself why. DYODD.
Long kang stock also this counter otto marine probably.
Buy ah buy ah.
when every one fear you buy ah. Think again.
Take The papers put as wall papers...
i' m not vested in this counter. just want to say that it is very difficult to overturn the delisting. based on below info, they mentioned ' weighted shareholding' . unless those retail investors who turn up at the EGM hold a lot of shares, otherwise not much of a chance to overturn
the face of Otto CEO looks scheming to me. 0.32 is too low. some of you might have bought at much higher price. Did they say what happens for vthose not taking up the offer? i think the offer price is not the volume weighted average price, otherwise it may be higher than 0.32.
Meanwhile they' ve just banked close to a million...
Otto Marine withdraws Hoe Leong liquidation application
Apologies for the typo, EGM is on Wed 14 Sep, 1000 AM.
Room 300-301 Suntec Singapore International Convention and Exhibition Centre
1 Raffles Boulevard
Singapore 039593
For all those minority shareholders who are free tomorrow Wed, 13 Sep, we should attend the EGM and block the delisting resolution.
This can only be achieved if at least 10 % of shareholders (weighted shareholding) present at the EGM vote against it.
Bite his offer, also in the losing streak and dun really get much out of it.
If it goes down the drain, I am still happy, rather then selling to a opportunistic vulture.
Winlost ( Date: 01-Sep-2016 11:06) Posted:
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I read that the buyer is one of OM executive director, and also the boss of Ocean International Captial.
This chap must has seen OM future potential in the long run, take this opportunity to grab it cheaply when is in dire strait.
Won a contract wroth US$7.5 mil....
so you will keep it or just sell away from market?
Winlost ( Date: 01-Sep-2016 11:04) Posted:
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If sucessful & otto marine delisted...how?
Single cents you also cant get?
calvino ( Date: 01-Sep-2016 10:24) Posted:
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I tore it up and dump in the rubbish bin
Winlost ( Date: 01-Sep-2016 10:13) Posted:
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will you sign up for the exit offer letter?
Shishi ( Date: 25-Aug-2016 22:04) Posted:
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Just received two of their books, one being the exit offer book. But nowhere can i find the form. Why they do things half past six? So what can i do now?
The risk is that if the takeover is not successful, the share price will drop back to 0.2+... the price b4 the announcement.
Winlost ( Date: 15-Aug-2016 10:06) Posted:
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Have all of you recieved the offer letter? When was that?