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Haiz
now proposed for buy back, is it good??
any expert can advise, future ok bo, book look ok.......
q10activator ( Date: 16-Jul-2008 19:47) Posted:
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Check out the recent AGM agenda announced on SGX.
Apparently, my speculations about how management can still profit depite price drop in shares is not far from the truth...
After failing to improve share price, the management still have the cheek to pay themselves bonuses, "consistent with the Company’s objectives to motivate its employees to achieve and maintain a high level of performance and contribution which is vital to the success of the Company."
By issuing share rights and new shares even before the consolidation is completed, the company is obviously making full use of shareholders money to generate cashflow for new acquisition, while only paying a measely 0.4% return on investment to shareholders.
SGX should investigate this company, auction off its assets and pay off us shareholders whose share value are continually eroded away by the management's actions.
q10activator ( Date: 03-Jul-2008 13:41) Posted:
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The major shareholders of this company are the directors.
Now they are consolidating because they say it is expensive for the shares to be traded at such low prices, probably because of the huge volumes per transaction.
If they save this money, they can still pay it to themselves as a form of bonus for helping the accounts to look better on paper, wouldn't they?
So technically, they can offset any paper losses from the fall in shareprices this way.
Furthermore, although I am not 100% sure about this, I hear that directors possess most of their shares only via share rights issues as reward for their performances. In this case, these directors would hardly suffer any losses, because they didn't even pay the half cent per share like the small fry share holders.
lawcheemeng ( Date: 03-Jul-2008 13:16) Posted:
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Hi Friends,
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Jul 02 2008 |
MISCELLANEOUS :: IN-PRINCIPLE APPROVAL FOR THE PROPOSED SHARE CONSOLIDATION |
IN-PRINCIPLE APPROVAL FOR THE PROPOSED SHARE CONSOLIDATION OF EVERY 100
ORDINARY SHARES IN THE CAPITAL OF CHASEN HOLDINGS LIMITED (THE
“COMPANY”) HELD BY SHAREHOLDERS OF THE COMPANY AS AT A BOOKS CLOSURE
DATE TO BE DETERMINED, INTO ONE (1) ORDINARY SHARE (THE “CONSOLIDATED
SHARES”) IN THE CAPITAL OF THE COMPANY (THE “PROPOSED SHARE
CONSOLIDATION”)
Where capitalised terms are used in this announcement and not otherwise defined, such
capitalised terms shall bear the same meanings as ascribed to them in the Company’s
announcement on 12 June 2008 relating to the Proposed Share Consolidation.
Further to the Company's announcement on 12 June 2008 relating to the Proposed Share
Consolidation, the Board of Directors is pleased to announce that the Company has on 2 July
2008 received the in-principle approval of the Singapore Exchange Securities Trading Limited
(the "SGX-ST") of the Company’s draft circular to shareholders in respect of the Proposed Share
Consolidation and for the listing of, and quotation of up to 147,020,758 Consolidated Shares
arising from the Proposed Share Consolidation subject to: -
(a) Compliance with SGX-ST’s listing requirements and guidelines; and
(b) Specific shareholder approval for the Proposed Share Consolidation.
The SGX-ST’s in-principle approval is not an indication of the merits of the Company, its
securities, the Consolidated Shares and the Proposed Share Consolidation.
A circular (the “Circular”) setting out full details of the Proposed Share Consolidation, together
with a notice convening the Extraordinary General Meeting to seek Shareholders’ approval for the
Proposed Share Consolidation will be dispatched to Shareholders in due course. The Company
will make a separate announcement when the Circular is dispatched.
By Order of the Board
Low Weng Fatt
Managing Director
2 July 2008
But the consolidation is history already more than a week ago.....why now then people unloading?
I remember the situation was vice versa few days after the news where buyer wipe out all on offer till got to wait for seller.
Blastoff ( Date: 02-Jul-2008 12:24) Posted:
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robinlim ( Date: 02-Jul-2008 10:07) Posted:
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limhpp ( Date: 01-Jul-2008 14:08) Posted:
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i tink he meant 5000 shares or maybe 5 lots ba