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Don't understand what SGX is doing, can't even settle this case, just delist without caring about small share holders, allow those big share holder to mess up the counter by impasses ! SGX chia sai.
i have 20 lots at 0.1since it get suspended. will i ever get my money back soon......
The material-handling company is the target of an $80m takeover by investors led by Vernon Khoo, who used to control Malaysian-listed Kuantan Flour Mills. The deal essentially involves injecting privately owned engineering services specialist SWTS - formerly known as Siemens Westinghouse Technical Services - into Greatronic.
Mr Khoo, through his vehicle Bin Investments Pte Ltd, will purchase the entire share capital of SWTS Pte Ltd at $73.8m. Then, acting in concert with the shareholders of SWTS led by MD Sim Bee Lim, Bin Investments will sell the entire shareholding of SWTS to Greatronic for $80m. The deal comprises $48m in cash and 1.6bn new shares at $0.02 each.
Greatronic will undertake a rights issue and share placement to fund the exercise. Under the terms of the deal, SWTS guarantees profits of at least $6m for this year, and a cumulative profit of $20m for '08 and '09.