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SHS Holdings receives EGM requisition to implement equal access share buyback at 17 cents per share
A group of SHS Holdings&rsquo 566 shareholders who claims to control 23.5% of the shares are calling for an EGM for the company to conduct equal access share buyback offer at a price of 17 cents or up to 50% premium over the average closing share price for the last five market days.
Apart from the above resolution, they are also asking the company to table another resolution on the proposed renewal of the share buyback mandate given that the recent mandate would have lapsed on April 30.
The group of shareholders consists of Stone Robert Alexander, Khoo Thomas Clive, Lee Oon Gim and more.
On the reasoning for the offer, they believe that the company has sufficient resources to undertake the offer and also a mean to reward shareholders by providing them an exit opportunity at a premium to current market price while still below the company&rsquo s NAV of 23 cents as of June 30, 2025.
The group of shareholders say that the 17 cents offer price represent about 49% premium to the average closing price over the last five trading days prior to this EGM requisition.
&ldquo If fully accepted, we estimate the total cost would be around $10,376,008, which the company can fund it given its cash and cash equivalents stood at $38.14 million as of June 30, 2025,&rdquo the group of shareholders claim.
The Board of SHS Holdings will provide further update to shareholders when there are material developments on the above requisition.
SHS Holdings shares closed at 11.4 cents on April 24.
SHS Holdings receives EGM requisition to remove independent director
A group of SHS Holdings shareholders who claim to control 21.36% of the shares are calling for an EGM to remove independent director Chua San Lye and replace with their nominee Kong Chee Keong.
As listed in its annual report, there are two other IDs, Lee Gee Aik and Ron Oong Wei Yuan. The board consists too of executive chairman Teng Choon Kiat, who controls 26.37% of the company and group CEO Henry Ng Han Kok, who holds 15.42%.
The shareholders are Stone Robert Alexander, Thomas Clive Khoo, Lee Oon Gim, Tan Siew San, Lawrence Chia Boon Hoe, Esther Lee Siew Neo, Chia Soon Joo and Toh Boon Leong.
In their requisition letter to SHS, they state that Kong is a " better fit for the company given his many years of experience in key finance roles and management, including as CEO at a listed company."
Up till 2022, Kong was CEO of Darco Water Technologies.
The shareholders did not specify in their requisition notice why they only want to remove Chua but not the other two IDs.
If Chua quits the board and Kong is appointed in his place, these shareholders will drop their EGM call.
SHS Holdings shares closed at 12 cents on Feb 2, up 3.33%.
A group of SHS Holdings shareholders who claim to control 21.36% of the shares are calling for an EGM to remove independent director Chua San Lye and replace with their nominee Kong Chee Keong.
As listed in its annual report, there are two other IDs, Lee Gee Aik and Ron Oong Wei Yuan. The board consists too of executive chairman Teng Choon Kiat, who controls 26.37% of the company and group CEO Henry Ng Han Kok, who holds 15.42%.
The shareholders are Stone Robert Alexander, Thomas Clive Khoo, Lee Oon Gim, Tan Siew San, Lawrence Chia Boon Hoe, Esther Lee Siew Neo, Chia Soon Joo and Toh Boon Leong.
In their requisition letter to SHS, they state that Kong is a " better fit for the company given his many years of experience in key finance roles and management, including as CEO at a listed company."
Up till 2022, Kong was CEO of Darco Water Technologies.
The shareholders did not specify in their requisition notice why they only want to remove Chua but not the other two IDs.
If Chua quits the board and Kong is appointed in his place, these shareholders will drop their EGM call.
SHS Holdings shares closed at 12 cents on Feb 2, up 3.33%.
Net profit after tax 4.5m for 2H2022 compared to a loss of 1.3m same period 2021.
For 12mths 2022 net profit after tax of 6m compared to a loss of 6m for 2021.
Full details :
https://links.sgx.com/1.0.0/corporate-announcements/XIIVFABPNN8TRG2W/e15a63a06eb099e0e89e18311f992550ab1157a27e76a3eceb2f4c38daa4a877
For 12mths 2022 net profit after tax of 6m compared to a loss of 6m for 2021.
Full details :
https://links.sgx.com/1.0.0/corporate-announcements/XIIVFABPNN8TRG2W/e15a63a06eb099e0e89e18311f992550ab1157a27e76a3eceb2f4c38daa4a877
Notice some funny business over here.. the ceo seems to be disposing the shares using the company money via share buyback.. is this legal?
Trading Halt , anyone any news ????
Never listen to most analysts.
They have their hidden agenda.
They have their hidden agenda.
ysh2006 ( Date: 30-May-2018 07:12) Posted:
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UOB nowsaday recommend stocks not accurate... eg Citi Env Tuan Sing TjZ Singpost etc..
ysh2006 ( Date: 28-May-2018 16:50) Posted:
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Today Philip recommended this stock in Webina said very good target 29c ,...
halleluyah ( Date: 02-Oct-2017 16:24) Posted:
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hope tis one go fr delisting too like rotary...................
1 lot marker...is bbs ready to play up?? been building base fr so long liao........
bottoming....accumulation vry long liao...waiting to b played up....
The Board of Directors (&ldquo Board&rdquo ) of SHS Holdings Ltd. (the &ldquo Company&rdquo and together with its
subsidiaries, the &ldquo Group&rdquo ) wishes to inform shareholders and investors of the Company that the Group
is expected to report a net loss for the first quarter ended 31 March 2017 (&ldquo 1Q2017&rdquo ) in its preliminary
review of the unaudited financial results for 1Q2017.
The Group&rsquo s loss is mainly due to the decrease in revenue in its core segments as a result of a decline
in demand amid adverse market conditions.
Further details of the Group&rsquo s financial performance will be disclosed in the Company&rsquo s results
announcement for 1Q2017 to be made no later than 15 May 2017.
halleluyah ( Date: 20-Apr-2017 09:10) Posted:
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watch list....seems like more contracts coming si boh??? cash rich coy....
Wow, so far so good . Everyday up SGD 0.005 good enough .
Strong buy volume, :) .
jia yu babe....show yr solar power....
sign a memorandum of understanding wth vietnamese gov to develop a 300mw solar farm....heading 28ct
halleluyah ( Date: 02-Apr-2017 20:25) Posted:
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heading 28ct soon...
Ya, super slow rise. But it' s good as it won' t fall like a rock later.
Slow uptrend chart...solar power fr the future....
Solar power branch seems to be starting to show results. Maybe will jeep soon, .21 holding strong