Aztech   

Aztech minority shareholders

I agree with other view on accepting the offer. No point fighting with them as the end result stated clearly, share price will drop.

Investing in a company not only to choose fundamental & business but most importantly the board of directors and owner of the biz.

Take K1, MM2 & ThaiBev for example of good management which is taking care of minority shareholders and returning the investment gain or activities to boost share price.

 

Sorry, if u are hoping that  un-ethical busiess men to have some moral principle, then you will be disappointed. These are such people that will look for oppt to " eat' up the weaker ones in order to  get adv for their own self gain.

 

littleones      ( Date: 09-Jan-2017 22:05) Posted: It is a matter of principle.   Substantial shareholders must not take advantage of minority shareholders in the delisting of a company' s share from SGX. If they see value in the company and wish to take it private, they have to pay the correct value for the share. The best gauge of a comapny' s value is through its NTA values. If they do not see value in the company, why do they want to take the company private in the first place?.   It is no brainer, right?  HazardKoh      ( Date: 08-Jan-2017 22:11) Posted: I dun understand the logic to vote against the offer. If u win and Mr Mun lose. He will not be able to table an offer as the rule says he must wait for 1 year (i think). " 4.1 Exit Offer Price The offer price for each Offer Share will be S$0.42 in cash (" Exit Offer Price" ). The Offeror does not intend to revise the Exit Offer Price. "   So he can just go away and the volume will then slowly decrease and share price back to 30 cents region. Who ultimately lose out? small shareholder like u ... If u think the management is lousy, why not just sell and switch to undervalued counters with better management team and  whose share price has  the potential to rise when market for the better? Unless u telling me small shareholders can group together and initiate a boardroom battle (like See Hup Seng last time) and oust Mr Mun and appoint another CEO.

 

In our country, is " u die ur business" ... dun expect help from others. How many years already, has SGX ever help small investors? Look at china s-chip, look at NOL, SMRT etc... all delist with offer < NTA..

The only way u can gain from Aztech exit offer is if there is a 3rd party interested in the company just like F& N.

For those who think SGX will help u, u will be disappointed, i think u will be more than disappointed, u will start cursing .

 

bro, has SGX ever help small investors before?? Can u quote a case where sgx help small investors and successfully recoup their loss?

Even China S-chip fraud till now all the small investors never get back anything.

So be realistics and if u want to talk about matter of principle u are just messing around with ur own $$$.

There are many undervalued counters that are better than Aztech. If u are hoping for a miracle from Aztech, why not use the 42 cents u get from the offer or u can sell in the open market now at  41.5 cents  and reinvest the capital in other better undervalued companies and wait for the share price to rise, better than want to fight against Aztech management and in the process " fight" against ur own $$$.

In the end if u manage to vote down the offer and the share price tank to 30 cents, u think SGX will help u and force the company to make another better offer?? U ask those NOL, SMRT  shareholders, did SGX help them?

 

littleones      ( Date: 09-Jan-2017 22:05) Posted: It is a matter of principle.   Substantial shareholders must not take advantage of minority shareholders in the delisting of a company' s share from SGX. If they see value in the company and wish to take it private, they have to pay the correct value for the share. The best gauge of a comapny' s value is through its NTA values. If they do not see value in the company, why do they want to take the company private in the first place?.   It is no brainer, right?  HazardKoh      ( Date: 08-Jan-2017 22:11) Posted: I dun understand the logic to vote against the offer. If u win and Mr Mun lose. He will not be able to table an offer as the rule says he must wait for 1 year (i think). " 4.1 Exit Offer Price The offer price for each Offer Share will be S$0.42 in cash (" Exit Offer Price" ). The Offeror does not intend to revise the Exit Offer Price. "   So he can just go away and the volume will then slowly decrease and share price back to 30 cents region. Who ultimately lose out? small shareholder like u ... If u think the management is lousy, why not just sell and switch to undervalued counters with better management team and  whose share price has  the potential to rise when market for the better? Unless u telling me small shareholders can group together and initiate a boardroom battle (like See Hup Seng last time) and oust Mr Mun and appoint another CEO.

 

If it's by poll, u guys are more or less out of options

lmc001      ( Date: 09-Jan-2017 22:27) Posted: We are not there yet, but all possible actions/ideas can be considered (including getting SIAS for help). But my very first step is to call out for all minority shareholders who share the same sentiment and willing/seeking to pursue alternatives. The key point is the minority shareholders need to help themself and the only way is to unite as one voice.  However, if I do not even get the numbers, then the option will be very limited. I am trying to gather at least 100 minority shareholders for such a possible action. If you are interested, please email to [email protected]

 

We are not there yet, but all possible actions/ideas can be considered (including getting SIAS for help). But my very first step is to call out for all minority shareholders who share the same sentiment and willing/seeking to pursue alternatives. The key point is the minority shareholders need to help themself and the only way is to unite as one voice. 

However, if I do not even get the numbers, then the option will be very limited.

I am trying to gather at least 100 minority shareholders for such a possible action. If you are interested, please email to [email protected]

 

 

 

Perhaps the minority shareholders can try writing to the forum or take out an advertisement to sensationalise the issue. Just some wild thoughts.

littleones      ( Date: 09-Jan-2017 22:05) Posted: It is a matter of principle.   Substantial shareholders must not take advantage of minority shareholders in the delisting of a company' s share from SGX. If they see value in the company and wish to take it private, they have to pay the correct value for the share. The best gauge of a comapny' s value is through its NTA values. If they do not see value in the company, why do they want to take the company private in the first place?.   It is no brainer, right?  HazardKoh      ( Date: 08-Jan-2017 22:11) Posted: I dun understand the logic to vote against the offer. If u win and Mr Mun lose. He will not be able to table an offer as the rule says he must wait for 1 year (i think). " 4.1 Exit Offer Price The offer price for each Offer Share will be S$0.42 in cash (" Exit Offer Price" ). The Offeror does not intend to revise the Exit Offer Price. "   So he can just go away and the volume will then slowly decrease and share price back to 30 cents region. Who ultimately lose out? small shareholder like u ... If u think the management is lousy, why not just sell and switch to undervalued counters with better management team and  whose share price has  the potential to rise when market for the better? Unless u telling me small shareholders can group together and initiate a boardroom battle (like See Hup Seng last time) and oust Mr Mun and appoint another CEO.

 

It is a matter of principle.   Substantial shareholders must not take advantage of minority shareholders in the delisting of a company' s share from SGX.

If they see value in the company and wish to take it private, they have to pay the correct value for the share. The best gauge of a comapny' s value is through its NTA values.

If they do not see value in the company, why do they want to take the company private in the first place?.   It is no brainer, right? 

HazardKoh      ( Date: 08-Jan-2017 22:11) Posted: I dun understand the logic to vote against the offer. If u win and Mr Mun lose. He will not be able to table an offer as the rule says he must wait for 1 year (i think). " 4.1 Exit Offer Price The offer price for each Offer Share will be S$0.42 in cash (" Exit Offer Price" ). The Offeror does not intend to revise the Exit Offer Price. "   So he can just go away and the volume will then slowly decrease and share price back to 30 cents region. Who ultimately lose out? small shareholder like u ... If u think the management is lousy, why not just sell and switch to undervalued counters with better management team and  whose share price has  the potential to rise when market for the better? Unless u telling me small shareholders can group together and initiate a boardroom battle (like See Hup Seng last time) and oust Mr Mun and appoint another CEO. littleones      ( Date: 08-Jan-2017 22:02) Posted: I agreed with you.   Mr Mun owe us an explanantion why the offer price is so low versus its NTA of more than 90 cents.   Minority shareholders should stand united and vote against the offer. It is a BIG NO for me.

 

Just ask yourself one question - who pays the IFA? Do not take the alphabet I too seriously.

Audermas      ( Date: 09-Jan-2017 21:35) Posted: Just a heads up. If they manage to pass the resolution, then they will still need to cross the 90% threshold for CA. If there is no CA, you will remain as a shareholder of the private coy. If the IFA has decided that the offer is fair, then it's good enough. And they will nvr go ahead with a GO without an IFA backing them up. lmc001      ( Date: 09-Jan-2017 20:49) Posted: There are already some fair opinions expressed below, there is no right or wrong with respect to how best to deal with the situation. At the end of the day, it is an investment decision. However, I think it is always good to have a unify voice from the minority shareholder such that we can have an alternative option to consider. We need to have at least 100 shareholders or 10% shareholding to be able to do anything. We will need the numbers !!! I am trying to gather at least 100 minority shareholders for such a possible action. If you are interested, please email to [email protected].

 

Just a heads up. If they manage to pass the resolution, then they will still need to cross the 90% threshold for CA. If there is no CA, you will remain as a shareholder of the private coy.

If the IFA has decided that the offer is fair, then it's good enough. And they will nvr go ahead with a GO without an IFA backing them up.

lmc001      ( Date: 09-Jan-2017 20:49) Posted: There are already some fair opinions expressed below, there is no right or wrong with respect to how best to deal with the situation. At the end of the day, it is an investment decision. However, I think it is always good to have a unify voice from the minority shareholder such that we can have an alternative option to consider. We need to have at least 100 shareholders or 10% shareholding to be able to do anything. We will need the numbers !!! I am trying to gather at least 100 minority shareholders for such a possible action. If you are interested, please email to [email protected].

 

There are already some fair opinions expressed below, there is no right or wrong with respect to how best to deal with the situation. At the end of the day, it is an investment decision. However, I think it is always good to have a unify voice from the minority shareholder such that we can have an alternative option to consider. We need to have at least 100 shareholders or 10% shareholding to be able to do anything. We will need the numbers !!!

I am trying to gather at least 100 minority shareholders for such a possible action. If you are interested, please email to [email protected]. 

 

Quite standard...loss money list it make money delist and bosses enjoy all perks...

 

Get SIAS to  make noise  to SGX that all recently delisting of shares are unfair to minority shareholders.

 

I dun understand the logic to vote against the offer. If u win and Mr Mun lose. He will not be able to table an offer as the rule says he must wait for 1 year (i think).

" 4.1 Exit Offer Price

The offer price for each Offer Share will be S$0.42 in cash (" Exit Offer Price" ).

The Offeror does not intend to revise the Exit Offer Price. "
 

So he can just go away and the volume will then slowly decrease and share price back to 30 cents region. Who ultimately lose out? small shareholder like u ...

If u think the management is lousy, why not just sell and switch to undervalued counters with better management team and  whose share price has  the potential to rise when market for the better?

Unless u telling me small shareholders can group together and initiate a boardroom battle (like See Hup Seng last time) and oust Mr Mun and appoint another CEO.

littleones      ( Date: 08-Jan-2017 22:02) Posted: I agreed with you.   Mr Mun owe us an explanantion why the offer price is so low versus its NTA of more than 90 cents.   Minority shareholders should stand united and vote against the offer. It is a BIG NO for me.   lmc001      ( Date: 08-Jan-2017 15:10) Posted: I do agree that this is not a easy battle. However, it is too early to give up at this stage, we will know this by 23rd Jan 2017. There is no guarantee that Mr. Mun will be able to garner more than 50% threshold. In which case, what do we do next? So, I am of the opinion that we need to convey minority shareholder' s voice and express our displeasure. He owe us a sincere and valid reason for his action.......

 

I agreed with you.   Mr Mun owe us an explanantion why the offer price is so low versus its NTA of more than 90 cents.   Minority shareholders should stand united and vote against the offer.

It is a BIG NO for me.

 

lmc001      ( Date: 08-Jan-2017 15:10) Posted: I do agree that this is not a easy battle. However, it is too early to give up at this stage, we will know this by 23rd Jan 2017. There is no guarantee that Mr. Mun will be able to garner more than 50% threshold. In which case, what do we do next? So, I am of the opinion that we need to convey minority shareholder' s voice and express our displeasure. He owe us a sincere and valid reason for his action.......  KopRed75      ( Date: 08-Jan-2017 13:20) Posted: It is indeed difficult to fight. I attended an EGM for Declout last month re the equal access offer. Regardless of how vocal the minority shareholders are against the subject matter, the resolution was easily passed.

 

You guys has provided a good objective view on the case........ let' s see how this pans out.

Whichever way we look at this, Mr. Mun has betrayed the minority shareholders' trust in him....... hope he does not get away easily with this unethical action. 

KopRed75      ( Date: 08-Jan-2017 17:03) Posted: Though I am not vested in this counter, I hope some justice can be served. HazardKoh      ( Date: 08-Jan-2017 16:59) Posted: I know is not easy to let go but in this Aztech case, I seriously think share price will tank if offer rejected. This case is different from F& N when there are known interested 3rd parties ready to jump in with higher offer. In Aztech case, there is no 3rd party. i dun think SGX even bother ... the most they issue a standard query using standard template and the company will reply with standard answer :)

 

Though I am not vested in this counter, I hope some justice can be served.

HazardKoh      ( Date: 08-Jan-2017 16:59) Posted: I know is not easy to let go but in this Aztech case, I seriously think share price will tank if offer rejected. This case is different from F& N when there are known interested 3rd parties ready to jump in with higher offer. In Aztech case, there is no 3rd party. i dun think SGX even bother ... the most they issue a standard query using standard template and the company will reply with standard answer :)   KopRed75      ( Date: 08-Jan-2017 16:50) Posted: What you said is true. But it can be very difficult to accept one's loss when emotions come into play. I personally have some counters which are in the red and I am reluctant to let go even though I know I can recycle the capital to other more worthy counters. One day I will come to terms with the loss but it is a process which varies in duration for each individual. In this case, I wonder if SGX is in any position to at least issue a public reprimand. It seems like retail investors are being sacrificed in almost every recent takeover offer from SMRT to Vard to Aztech. I certainly hope that the retail investors of Vard show some balls and reject the ridiculous offer, paving the way for more reasonable offers to be put forth for other takeover offers in the future. Aztech major shareholders are simply being disgusting here by massively shortchanging its minority shareholders.

 

I know is not easy to let go but in this Aztech case, I seriously think share price will tank if offer rejected. This case is different from F& N when there are known interested 3rd parties ready to jump in with higher offer. In Aztech case, there is no 3rd party.

i dun think SGX even bother ... the most they issue a standard query using standard template and the company will reply with standard answer :)

 

KopRed75      ( Date: 08-Jan-2017 16:50) Posted: What you said is true. But it can be very difficult to accept one's loss when emotions come into play. I personally have some counters which are in the red and I am reluctant to let go even though I know I can recycle the capital to other more worthy counters. One day I will come to terms with the loss but it is a process which varies in duration for each individual. In this case, I wonder if SGX is in any position to at least issue a public reprimand. It seems like retail investors are being sacrificed in almost every recent takeover offer from SMRT to Vard to Aztech. I certainly hope that the retail investors of Vard show some balls and reject the ridiculous offer, paving the way for more reasonable offers to be put forth for other takeover offers in the future. Aztech major shareholders are simply being disgusting here by massively shortchanging its minority shareholders. HazardKoh      ( Date: 08-Jan-2017 16:07) Posted: Pesonally i wun fight against the management becos i know is a lost cause. 2nd, share price will tank if offer rejected means sabotage myself. while u fight against the management at the expense of the share price of aztech and ur own $$$, other undervalued counters may have already slowly creeping up, so it means u wasted ur time fighting the management and missing other opportunities. There are some undervalued companies around  whose NTA > > > share price like properties/construction companies. Beng, Chip Eng Seng and even oil and gas companies. Anyway is just my own opinion. Good luck to those who intend to fight against the management, cheers :)

 

What you said is true. But it can be very difficult to accept one's loss when emotions come into play. I personally have some counters which are in the red and I am reluctant to let go even though I know I can recycle the capital to other more worthy counters. One day I will come to terms with the loss but it is a process which varies in duration for each individual.

In this case, I wonder if SGX is in any position to at least issue a public reprimand. It seems like retail investors are being sacrificed in almost every recent takeover offer from SMRT to Vard to Aztech. I certainly hope that the retail investors of Vard show some balls and reject the ridiculous offer, paving the way for more reasonable offers to be put forth for other takeover offers in the future. Aztech major shareholders are simply being disgusting here by massively shortchanging its minority shareholders.

HazardKoh      ( Date: 08-Jan-2017 16:07) Posted: Pesonally i wun fight against the management becos i know is a lost cause. 2nd, share price will tank if offer rejected means sabotage myself. while u fight against the management at the expense of the share price of aztech and ur own $$$, other undervalued counters may have already slowly creeping up, so it means u wasted ur time fighting the management and missing other opportunities. There are some undervalued companies around  whose NTA > > > share price like properties/construction companies. Beng, Chip Eng Seng and even oil and gas companies. Anyway is just my own opinion. Good luck to those who intend to fight against the management, cheers :) redsuns      ( Date: 08-Jan-2017 15:56) Posted: I like yr way of thinking. What you say is true also.

 

Pesonally i wun fight against the management becos i know is a lost cause.

2nd, share price will tank if offer rejected means sabotage myself.

while u fight against the management at the expense of the share price of aztech and ur own $$$, other undervalued counters may have already slowly creeping up, so it means u wasted ur time fighting the management and missing other opportunities. There are some undervalued companies around  whose NTA > > > share price like properties/construction companies. Beng, Chip Eng Seng and even oil and gas companies.

Anyway is just my own opinion. Good luck to those who intend to fight against the management, cheers :)

redsuns      ( Date: 08-Jan-2017 15:56) Posted: I like yr way of thinking. What you say is true also.  HazardKoh      ( Date: 08-Jan-2017 15:44) Posted: Aztech has NTA of around $1. Many of u reluctant to accept the offer becos the offer price is much lesser than NTA.  But if u reject the offer, share price may tank to around 30+ cents. If u accept the takeover at 40+ cents, and use ur $$$ to switch  to another company which has NTA of > $1 and whose share price is  of around 40+ cents, then u can look forward to the other company share price going up towards $1. This is better than trying to vote down the offer and see the share price drop to 30+ cents.   My own view: Currently I vested in Lian Beng whose NTA is $1.20 and share price 46 cents. So Lian Beng is similar to Aztech in the NTA and share price. Lian Beng will have 2 industrial building going to TOP this year and they are going to sell off their Prudential Tower and getting back quite a substantial amount of $$$. So if i ask myself which one has the potential to go back up to $1, Aztech or Lian Beng. I think will be lian beng. So u can accept the offer and use the money to invest in other undervalued counters in SGX, there are many!!!