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I think it's still unsure, but near 62% is irrevocable and needs another 13% to have the deal go through. Just hope that it will be through as 13% is not to big %, if one is worried, he may sell( I think this is the case).
Well, don't know when wll they announce the result and when is the EGM, hope don't drag for months. May be you can call the secretary of the company.....:), then you tell me.....
ly1968 ( Date: 21-Jan-2011 23:02) Posted:
Any sifu can help ?
ly1968 ( Date: 20-Jan-2011 22:46) Posted:
| Will our cash be return to us on the delisting due date or do we have to sell it b4 the due date,any bros or sis can help me on this,tia |
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Any sifu can help ?
ly1968 ( Date: 20-Jan-2011 22:46) Posted:
| Will our cash be return to us on the delisting due date or do we have to sell it b4 the due date,any bros or sis can help me on this,tia |
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Blessed are they who give. We should encourage more delisting of companies whose share prices are depressed below their asset backing. Such delisting will definitely be a blow to long term shorting institutions, but will repay what money faithfully invested with great trust on people behind these companies.
Published January 21, 2011 
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Time Watch rallies on delisting proposal 19m shares traded as stock rises 10.6% to match historical high of 26 cents
SHARES in Time Watch Investments sprang to life yesterday on news that its chairman and chief executive officer is making a voluntary offer to take the company private at 27 cents a share.
The stock of the China-based watch manufacturer closed 10.6 per cent or 2.5 cents up to match its historical high of 26 cents with volume to boot. It hit an intraday high of 26.5 cents.
More than 19 million shares changed hands compared with an average daily trading volume of about 719,000 shares over 12 months.
CEO Tung Koon Ming has proposed the exit offer through his investment holding company Red Rewarding Limited.
Time Watch's low trading volume, coupled with the desire for more flexibility in running the business, were among the reasons cited for the voluntary delisting.
The 27 cents per share offer represented a 14.89 per cent premium over Time Watch's closing share price of 23.5 cents on Jan 18, the eve of the offer announcement. Compared with the one-month, three-month and half-year volume weighted average prices, the offer is 27.96 per cent, 35.68 per cent and 39.18 per cent higher respectively.
'The exit offer will provide a unique exit opportunity for those shareholders who wish to realise their entire investment in the shares but find it difficult to do so as a result of prolonged undervaluation and the low trading liquidity of the shares,' a joint announcement by Time Watch and the offeror said.
Red Rewarding has already received irrevocable undertakings from controlling shareholders of Time Watch, representing a stake of 62.12 per cent.
The delisting is subject to the approval of the Singapore Exchange (SGX). The delisting resolution also needs to have support representing at least 75 per cent of the issued shares held by shareholders present and voting at an extraordinary general meeting.
Likewise, votes against must not represent 10 per cent or more of the shares.
Meanwhile, Time Watch has appointed SAC Capital Private Limited as the independent financial adviser.
Time Watch is the latest to ride the privatisation wave on the SGX in recent months. MCL Land, which has been floated here since 1967, got the go-ahead for delisting last November after shareholders accepted the buyout offer from major shareholder Hong Kong Land. |
My remisier said that as long as the biggest shareholder agreed to the exit offer price, it's fixed. but the whole deal will be completed months later.
May I know what's the concern of your advice for the shareholders to sell. unless one needs cash or who would like to sell it below 27cts.
Who might change their mind on this exit offer as Time watch has already accepted it.
Please explain. Thanks
Last year, in the AGM, the boss said that listing in Singapore was not active and they were looking for listing so that their share price would be appreciated. I am ignorant but it is this buying over that push the price much higher in a few days.
smartrader ( Date: 20-Jan-2011 23:22) Posted:
| hongkonger is capable of doing such thing -- one moment says dual listing now they are taking business elsewhere ...sell when you can... beware of other listed company under hongkongers.. |
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hongkonger is capable of doing such thing -- one moment says dual listing now they are taking business elsewhere ...sell when you can... beware of other listed company under hongkongers..
Will our cash be return to us on the delisting due date or do we have to sell it b4 the due date,any bros or sis can help me on this,tia
TIME WATCH INVESTMENTS LIMITED
(Company Registration No.:199502355R)
(Incorporated in the Republic of Singapore)
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DELISTING PROPOSAL APPOINTMENT OF INDEPENDENT FINANCIAL ADVISER
_________________________________________________________________________________
The Board of Directors (the "Board") of Time Watch Investments Limited (the "Company") refers to the joint announcement dated 19 January 2011 (the "Joint Announcement") made by the Company and Red Rewarding Limited (the "Offeror") in relation to the proposed voluntary delisting of the Company from the Official List of the Singapore Exchange Securities Trading Limited (the "SGX-ST") under Rules 1307 and 1309 of the listing manual of the SGX-ST (the "Delisting Proposal") and the exit offer by DBS Bank Ltd., for and on behalf of the Offeror (the "Exit Offer") to acquire all the issued ordinary shares in the capital of the Company ("Shares") on the terms and conditions set out in the Joint Announcement.
The Board wishes to inform shareholders of the Company ("Shareholders") that it has on 20 January 2011 appointed
SAC Capital Private Limited (the "IFA") as the independent financial adviser to advise the Directors of the Company who are considered independent for the purposes of the Delisting Proposal and the Exit Offer (the "Independent Directors").
A circular containing, inter alia, the advice of the IFA and the recommendation of the Independent Directors in relation to the Exit Offer (the "Circular")
will be sent to Shareholders in due course.
will the money come to us automatically or we still have to keep track to send in some agreement form. Don't feel like keeping track(even paper) of it anymore.
gameover ..no need to play liao...de5list price 27cents..cheap cheap they buy back..still holding 55 lots at 20cents..this counter worth more than 27cents ...sian...
Halt lah not half. i thought bargain is coming,
this is a undervalue stock. good news could be coming..
delist or dual listing.... it's only my wild guess.
Huat ah.
forgotten stock????this counter half for 2 days..but nobody ask about it...anyone know any new????
Have a Good watch on this!!
This baby is like an undervalued rolex.
Resistance at .235, current price near support level!
SGX-LISTED TIME WATCH NINE-MONTH NET PROFIT RISES 20.3% TO HK$79.7 MILLION, SURPASSING WHOLE OF FY2009
http://info.sgx.com/webcorannc.nsf/AnnouncementLast3Months/C82257AA07D3D71B4825772000325776
after it's AGM, I bot a little at 14 cts and sold them at 20cts. Bot it because the CEO said that it's good and undervalue and just didn't know why singapore stocks player didn't fancy it. I asked if they would talk to analyst and made them known again, he said yes....so I bot it..........it's good to attend AGM....I like AGM, and I always discover Singaporeans are so rich, quite a few bot S$500,000/=(in global investment, in HLF etc), then I will hide at a corner to munch the sandwich, hide away from them bcs I am just a ikan bilis.
May be it's time to go and buy back if it's still lower than 20cts.....sigh! money not enough
trueview ( Date: 24-Mar-2010 22:20) Posted:
is time to watch.4.9 mil done today.clse 20cent.dont forget to watch!!!!!!!!! |
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is time to watch.4.9 mil done today.clse 20cent.dont forget to watch!!!!!!!!!
profitable, low PE and potential dual listing..
1.5 mil done..waiting to sell at 21.5cents..last 20.5 cent...
back to 20 cents ..... any new ?
time to watch...amid no volume..
