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Just call CDP and I was informed the $$$$$ only transfter to my account today (16 May 2010). I can only see the money come in tomorrow.
:-(
If CDP received your acceptance letter signed. Then they
(CDP) wiould have sent you an ackowledge slip teeling/informing you that, your MAPTECH share would be placed aside for teh pending transction. It was then that you were able to verify by logging into your online CDP account and check that, the " Map Share" is available but not in " FREE" staus. Availble may not be sold, only FREE hold/paid shares can be transacted via brokerage/or self online trading.
Now the only solution is to check with CDP, telling them that you have sent the letter accepting to sell back to the comapany but forgot to verify if they received your returned slip. see what they say. Alternatively, you can call MAP Tech directly and ask for their advise as well, they might open to buying back your share, like absord into their company and paying you the same agreed price via CDP.
Go to Maptech webpage to find out their contact number.
I also suggest you call CDP for advise as WELL.
But , if they have delisted, your share may not be reflected in your CDP account anymore. MapTech will have the record of shareholders. They might be some internal provision for shareholders of the company that wants to sell the share back to the company, they would have internal procedures that they may be able to advise you.
Since u already get stuck with a paper share ownership. It could be a blessing in disguise if you are not in need of urgently wanting the cash back. You share assets value might increase if they do decides to relist them in other market in future.
Its yours and you have to make a decision. BUT first. check with CDP and also Maptech about your situation. and understand your position then make a decision. ALL is NOT lost. It would not become zero value thats for sure. You just need to find out the procedure to encash if need to. :)
Hope you found a way out of it later and do share with us your experience so that other whom made the same mistake and get into same situation with other company muight in turn get good advise from your own experience.
:)Cheers.
blurblurman ( Date: 13-May-2011 13:17) Posted:
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i rec'd my $$$ on 01/apr/2011 i think
blurblurman ( Date: 12-May-2011 14:16) Posted:
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Do you have evidence to prove that you have submit your letter to CDP? If u do not have meaning your money will be exchange for paper only.
Please check with CDP on monday.
I did reply the acceptance letter.
What should I do now?
Got long ago already.
If u did not get it. something went wrong somewhere.
maybe you did not reply to the acceptance letter sent to all holders then.
Now its closed already.
blurblurman ( Date: 12-May-2011 14:16) Posted:
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Anyone know when will get the $$$$$
Oh Its SUSPENDED its trading already.
Those whom have not sold back to them via OCBC kanna stuck.
How ?
Why company get listing ?
To get cash from public small time investers.
When they no longer need cash and is making huge profits, why must they share their profits with the public and follow all the strict rules set by the control body such as the exchange ie- SGX etc etc.
Those company that see themself needing long term pumping in of cash will remain on list. Those that are crooks whom come on and get public funds to grow their companies are just maki8ng investers suckers.
Make money, they don't pay dividents, lost/need money, they issue rights. But when they start to make profits and forsee that their business will sustain and grow and self sustain, they will boot the shareholders out by forcing them to sell and get delisted.
All this should be very familiar to ppl in the market for about 5 years at least to see all this happening around and to them also ?
Listing is the easy way to get money pumping in to ailing of growing companies. Its a mechanism for aspiring or ailing company to use to get funds for their survival or growth. Once all is achieved, they will delist.
A good time would be, when the share price is at a minimum and the company is forsee to make many fold of money in the coming future and new ventures in the pipelines without public investers on board.
Thats life.
Cheers.
Looking at the many instances of corporate incidences that disfavour the Singapore stock investors, mainly the individuals, the conclusion one can confidently draw is that Singapore stock players are taken as idiots, and corporate chiefs are taken as cheaters.
Look at instances of loss reporting companies returning to black and then buying back the depressed (intentionally or otherwise, though logically the first rather than the latter) price of the shares for huge gains at the expense of investors long time losses. Dishonesty is the catch word in the corporate world, wickedness is obvious in these scenarios.
Then there are those directors who refuse to pay dividends claiming that that will be good for the companies not mentioning their pockets in terms of salaries and other fringe benefits, coupled with depressing share prices to deprive the shareholders of market gains. Soon after several years they will then begin to report losses or other unsavoury impairments, dilutions and so forth. The cursed ways of these terrible people took the spirit of the game into a different dishonourable levels.
So many things are obvious in the stock market and probably will take me a book to write, but what the heck do I do this for? Human nature is always greedy and scheming and taking advantage of others through deceit and system manoeuvres that smack of cutting corners of entrenched properly state provided governance.
My little opinion of our many perspectives. Cheers.
Anyone got the money? by cheque or bank in?
Hi. Is it by cheque? I have not receive any. Maybe tomorrow.
received the monies today le..
yep.. approved with 99.98% in favour..
anyone know the outcome of today meeting? Shareholder approved at 0.0715 delisting?
if the delisting failed or approve, we still able to submit the form as the due date is on 5 April. right?
Thank You AlexWong for your inputs.:)
Hope all goes well.
But I understood that many major holders already agree to sell back to them their shares.
So the EGM for approval of delisting is just formality. Requirement by SGX. Delisting rules that needs to act upon. Getting shareholder's approval. Majority there " Kakinang" they sure win majority vote of approval..
Just going thru the motion required under listing company rules . Thats all.
Best Regards.
alexwong ( Date: 07-Mar-2011 16:50) Posted:
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But i certainly agree that their reliabilty part is VERY BADLY damaged... If privatisation does happen, think the management will still somehow or other to sell off the company...........
but i think will almost 98% happens... No matter what...
alexwong ( Date: 07-Mar-2011 16:46) Posted:
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No.. From what i've read from the things they sent me, if privatisation somehow or other fail, ALL shares will be returned to you as soon as the news of failed privatisation come out..CDP will not delete your holdings after u sent the form.. They'll just suspend it... I've read a few times the book and forms they sent... Or did i miss out anything> ?
Of course if it fails and goes back to 0.05.. too bad le... I haven't sent the form but intend to.... but i'll read every single word again....
moneycow ( Date: 07-Mar-2011 15:59) Posted:
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If the privatisation don't happen or change plan at the 11th hour, those whom already submit their form, their share will be sold to the main company while it remain listed. The price may go up due to at least 85% in main owner's hand and very little trade transaction ?
Is that another ploy by the company ?
when they start to make money and promise handsome divident that you can thank them, the never issue devidenta nd now want to go private.
It reflect very badly on the management's decision. The reliabilty part is damaged.
Anyhow, those whom signed the form, will get 7.15/share from the owner. The form you signed is an agreement to transfer the share yto them at that price.
If delisting somehow failed, you still get that agreed price/share agreed.
Thereafter no one knows how will things goes.
If delisting fall thru, the price likely fall back again to 5 cents maybe.