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Popoet you received share or cash from Boardroom Sunnudale registra ? said something for us to experience ?
Popoet ( Date: 09-Mar-2021 15:36) Posted:
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good luck for those who took the sunrise cert... i hope its sunset for KBH!!!
Oh no they just send us a Sunrise Tech certificate , plus little cash only.... not the full amount of $1.65. How to sell the Sunrise tech share ?
Popoet ( Date: 09-Mar-2021 15:36) Posted:
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Can i check what will happen to our money inside?
This is definitely a well timed, opportunisitc move with privy to information for a chairman to act in BAD FAITH for the shareholders....
This is the society that we have created here that many resent....#MAS
The authority should be more pro active towards all these bullying tactics by the major shareholders. In this instance worst as its the chairman!
4 TIMES HIGHER EARNING!!! KARMA IS REAL!
This is the society that we have created here that many resent....#MAS
The authority should be more pro active towards all these bullying tactics by the major shareholders. In this instance worst as its the chairman!
4 TIMES HIGHER EARNING!!! KARMA IS REAL!
Hello all, can I check if they will refund us the money automatically as the default option? I dun rmb opting for cash option. Thanks in advance!
all the lies!!!! This family business should be bar from future IPO to take advantage of public citizen money!!!! He should just go to the bank and get a loan at 5%!!!! Not a good company!!!! There are many more excellent ones that can do a better job!
Ranieri ( Date: 27-Feb-2021 09:25) Posted:
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another aztech in the making? after delisting for 40 cents, next year give 40 cents dividend?
Ranieri ( Date: 27-Feb-2021 09:25) Posted:
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Sunningdale reports FY20 earnings of $31.5 milSunningdale Tech has, for the FY2020 ended December, posted earnings of $31.5 million, almost four times higher than earnings of $8.0 million for the FY2019.
Earnings for the 2HFY2020, similarly, spiked 180.6% to $23.2 million from the 2HFY2019&rsquo s earnings of $8.3 million..........................
Source:https://www.theedgesingapore.com/capital/results/sunningdale-reports-fy20-earnings-315-mil
he is happily counting his premium from low balling!!!! This coy is now basically a family coy not the best because there are many much better more hi-tech ones in US and China with higher technology delivering much superior product quality with lower cost and faster turn over time! This kind of low baller difficult to secure business contracts. KARMA!!!!
Sunningdale to delist after scheme scrapes through with 51.2% of shareholders present in favour
SOME 51.2 per cent of Sunningdale Tech scheme shareholders present at Friday' s scheme meeting voted yes to take the mainboard-listed company private. This is just slightly over the 50 per cent threshold required for the scheme to pass.
In addition, 90.3 per cent of the scheme shares represented by votes by proxy was cast in favour of the scheme. This was comfortably above the 75 per cent threshold needed, fulfilling the second criteria for the scheme to be approved.
With the scheme to take Sunningdale private approved at the meeting, the mainboard-listed company is expected to last trade on March 8, and delist on April 20, Sunningdale said in a Friday bourse filing.
The firm will next be submitting its application to the court to sanction the scheme. It expects the court to hear the matter on March 1.
The vote outcome caps a closely-watched tussle between Sunningdale' s offeror and investors who had felt that the original offer price was too low.
In November last year, Sunningdale' s chairman Koh Boon Hwee and private equity player Novo Tellus PE Fund 2 announced that they were teaming up to take Sunningdale private at S$1.55 in cash per share via the scheme of arrangement.
However, activist investor Quarz Capital Management issued an open statement that the price was " too low" and " significantly undervalues" the firm. The offeror later raised the takeover price to S$1.65 per scheme share, up 6.5 per cent.
Subsequently, on Feb 17, Quarz pared down its stake from 8.023 per cent to 7.987 per cent, selling 69,000 shares at S$1.63 apiece. Quarz told BT then that it was " reallocating" its portfolio and focusing on companies that could benefit the most as the pandemic impact subsides.
Anw FYI for those want to change vote..found on SIAS website
SIAS has recently received calls from a few Scheme Shareholders who wish to amend their proxies. These shareholders must send in the duly executed proxy to [email protected] before 3 pm on 17 February and such proxy must state in writing &ldquo This proxy supercedes all prior proxies submitted by this shareholder&rdquo .
SIAS has recently received calls from a few Scheme Shareholders who wish to amend their proxies. These shareholders must send in the duly executed proxy to [email protected] before 3 pm on 17 February and such proxy must state in writing &ldquo This proxy supercedes all prior proxies submitted by this shareholder&rdquo .
jstrong ( Date: 16-Feb-2021 23:50) Posted:
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why only 69 lots....below offer price too $1.63
ACTIVIST investor Quarz Capital Management has reduced its stake in Sunningdale Tech just about a week before the scheduled extraordinary general meeting (EGM) convened for investors to vote on the private equity buyout of the precision plastic components maker.
On Feb 9, Quarz had sold some 69,000 Sunningdale shares for a total of S$112,470, which works out to be S$1.63 per share. With this, Quarz now owns 7.987 per cent of the company' s total voting shares, down from 8.023 per cent previously.
To recap, Sunningdale announced last November that its chairman Koh Boon Hwee was teaming up with Novo Tellus PE Fund 2 to take the company private at S$1.55 in cash per share via a scheme of arrangement.
They then raised the offer to S$1.65 per scheme share, up 6.5 per cent from S$1.55 previously, after Quarz in an open statement termed the takeover price to be " too low" and that this " significantly undervalues" the company.
Quarz argued that the initial takeover price was at a significant discount of more than 22 per cent to Sunningdale' s book value of close to S$2 per share.
In response to queries from The Business Times, Quarz said that while the revised offer is below the company' s adjusted net asset value (NAV) of S$1.98, it sees " a number of interesting and attractive opportunities with higher upside potential" in Singapore.
" We are reallocating our portfolio and refocusing on these companies who can benefit the most as the effect of Covid-19 subsides," said Quarz. " We sincerely thank all minorities for uniting with us to achieve the improved offer."
Said Sunningdale' s Mr Koh in response to the transaction: " We respect shareholders' right to buy or sell shares in Sunningdale as they see fit."
David Gerald, president of the Securities Investors Association of Singapore (Sias), said shareholders would now need to make &ldquo an informed decision&rdquo based on the information provided by the respective parties, and should decide how to vote for themselves.
&ldquo As this is a scheme of arrangement, only independent shareholders, not connected with the offeror can vote on the scheme. Shareholders should make their decision through their vote,&rdquo added Mr Gerald.
On Tuesday after trading hours, Sunningdale also released its responses to " substantial and relevant questions" that it had received from shareholders ahead of the EGM.
Shareholders wanted to know if the scheme consideration would be lowered in the event the company declares a dividend. Sunningdale said that in the event that any dividends are declared, paid or made by the company after the joint announcement date and before the effective date, the offerer reserves the right to reduce the scheme consideration by the amount of such dividends.
For illustration purposes, should Sunningdale pay a dividend of S$0.05 per share before the effective date, the offerer reserves the right to reduce the scheme consideration by S$0.05 per scheme share. This means the entitled scheme shareholder who elects for cash consideration will receive a dividend of S$0.05 and cash consideration of S$1.60 for each scheme share held.
The board said in response to a query on whether the company will pay a dividend for FY 2020 if the scheme is approved that it will take into account various factors including the level of available cash, the expected cash requirements of the business and the need for ongoing investments to sustain and grow the business.
Should the scheme fail, the board said, Sunningdale will continue to be listed on the mainboard of the Singapore Exchange.
Shareholders were also interested in how the board managed any potential conflicts of interest arising from the fact that Mr Koh and Loke Wai San, a non-executive and non-independent director of Sunningdale, are directors of both Sunningdale and the offeror.
To this, the board reiterated that there were " strict controls" in place to mitigate against any potential conflict of interest resulting from the directors' positions and interests in the company.
These included the exclusion of the duo from all discussions among the non-conflicted directors in relation to the scheme, as well as having a separate financial adviser and separate legal adviser to guide the non-conflicted directors.
Sunningdale' s EGM will be held electronically on Feb 19 at 3pm.
hmm seems like Quarz is supporting? thoughts?
Substantial shareholder trims stake in Sunningdale ahead of privatisation offer vote
Quarz Capital Asia, a substantial shareholder of Sunningdale Tech, has trimmed its stake in the company.Quarz on Feb 9 sold 69,000 shares at $1.63 apiece in the open market, which is two cents lower than the revised offer of $1.65 put on the table by Sunningdale&rsquo s chairman Koh Boon Hwee.
With the sale on Feb 9, Quarz has trimmed its stake from 15,454,700 shares to 15,385,700, or 7.987%, according to a Feb 16 filing.
The offer was revised to $1.65 on Jan 19. On the same day, Quarz bought a total of 750,000 shares from the open market at $1.62 apiece, raising its stake to 15,957,700 shares, 8.284%, according to a filing. There were no other filings announcing changes of shareholdings in between.
Koh, who is making the privatization bid in partner with investment firm Novo Tellus, had earlier offered just $1.55 per share. Quarz called this offer &ndash first made on Nov 9 &ndash &ldquo lowball&rdquo . Quarz had also pointed out how Loke Wai San, who heads Novo Tellus, was previously one of Sunningdale&rsquo s independent director. He was redesignated as non-independent only after the offer was made.
Quarz&rsquo s sale of Sunningdale shares came ahead of the Feb 17 3pm deadline for shareholders to send in their votes on whether they want to accept or decline the offer from Koh and Novo Tellus. The voting result will be made known at the EGM on Feb 19.
&ldquo We respect shareholders&rsquo right to buy or sell shares in Sunningdale as they see fit,&rdquo says Koh.
Sunningdale shares closed unchanged at $1.64 on Feb 16.
wah anyone thinking of changing their vote now anot? Can pls advise how?
say NO to this commercial RIP OFF!!!! a crooked DAYLIGHT ROBBERY!!!!
bullrun6088 ( Date: 29-Jan-2021 16:58) Posted:
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bullrun6088 ( Date: 05-Feb-2021 23:53) Posted:
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Yeah, submitted today vote " Against" .
tgk001 ( Date: 10-Feb-2021 15:45) Posted:
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Submit your proxy form to vote against the scheme.
Please go to here to download the proxy form to vote against the scheme.
https://links.sgx.com/1.0.0/corporate-announcements/QXSAJR90UH8VIOBL/647234_4._STL_-_Proxy_Form.pdf
You can email your form to the address indicated in the form, [email protected].
Deadline is 17 Feb 2021!
Please go to here to download the proxy form to vote against the scheme.
https://links.sgx.com/1.0.0/corporate-announcements/QXSAJR90UH8VIOBL/647234_4._STL_-_Proxy_Form.pdf
You can email your form to the address indicated in the form, [email protected].
Deadline is 17 Feb 2021!