JapanLand   

Delisting without exit offer

Thx bluesky, It is not easy to sell non traded shares and hope SGX can explain to retail investors why their rules under the delisting  can bend one? See today's BT article about General Magnetics and Japan Land. I know some counters go away scot free.

Rather obvious  that MAS should not be responsible for the losses of investors in the market and the name Japan Land is a J - chip. Thx for contributing to forum.

Many investors like me had lost all investment in counters that became watch list counters 2-3 years ago.  We all thought that the worst  case scenario is that there is an exit offer prior to the delisting (based on the delisting rules).  In view of illiquid trading of such  counter,  l believe  its better to hold on the shares, hope 1) a RTO deal  to come, 2) existing biz turn around or 3)  in the end an exit offer to come prior to delisting.  At least something left in the end.  The shock came when such companies are allowed to be  delisted  without ensuring that there is an exit offer. If I would have  know  that the rules  can be bend or applied inconsistently when it is being introduced, then l rather  cut losses  2 years ago than to  wait for the exit offer in the end. If MAS don step  in and review  this type of rule, then as an  investor, l  felt short changed.  If such rules is not realistic, l hope it will be scraped. Ie the delisting exit offer  should optional if the delisting is demanded by SGX.

 

Hi Coincerto,  though u are sad & disappointed, yet still care to share with us..tnx very much! Has this company declared bankruptcy? If they have not, it means they are still operating. Check with SGX although they are issuing certificate to existing shareholder, but how to make them buy back your share..

Good luck!

Hulumas      ( Date: 30-Jun-2011 12:45) Posted: Gone with the Tsunami! alexchia01      ( Date: 30-Jun-2011 12:18) Posted: Ya... Good analogy. Wake up people. Don't expect the government to protect your losses from the casinos.

 

Gone with the Tsunami!

alexchia01      ( Date: 30-Jun-2011 12:18) Posted: Ya... Good analogy. Wake up people. Don't expect the government to protect your losses from the casinos.   rotijai      ( Date: 30-Jun-2011 12:09) Posted: this is a very good post to those who always think tat MAS should do this / do that to protect retail investors.. wake up u all.. expecting MAS to protect retailers in such issues is like expecting the gov to protect gamblers from losing 100% of their capita

 

Is it S-chip?

Concerto      ( Date: 30-Jun-2011 11:09) Posted: I am disappointed that the exit offer is not given to the shareholders and it is allowed to be delist. I did not sell my shares in this company thinking that such offer be given prior to be delisted. Wondering if SGX is enforcing on this rule strictly or enforce it only when the owners bother to be cooperative. Also saw the article about general magetics getting delisted without any exit offer. Anyone knows what is the reason that SGX introduces this rule but never ensure the compliance of such rules? And who ensures that that SGX properly implement such rules. I felt l lost my all my  investment in this company due to  the poor management of this company and SGX not ensuring such rules are complied.

 

Ya... Good analogy.

Wake up people.

Don't expect the government to protect your losses from the casinos.

 

rotijai      ( Date: 30-Jun-2011 12:09) Posted: this is a very good post to those who always think tat MAS should do this / do that to protect retail investors.. wake up u all.. expecting MAS to protect retailers in such issues is like expecting the gov to protect gamblers from losing 100% of their capital alexchia01      ( Date: 30-Jun-2011 11:51) Posted: At least the company is still around and you are still a shareholder. If one day the company does make a come back, you'll benefit. For now, you should treat this as a valuable lesson and move on. It's better to focus on other counters than to crying over spilled milk. MAS is regulate the financial sector and protect you against frauds. This is the case of mis-management, which is a risk that all investors have to take. I don't think they will do anything for you. The only way for you to get rid of the shares is to find someone who is willing to buy them from your hand. You can only do this after the company is delisted and issued you the share certificates.

 

this is a very good post to those who always think tat MAS should do this / do that to protect retail investors..

wake up u all..

expecting MAS to protect retailers in such issues is like expecting the gov to protect gamblers from losing 100% of their capital

alexchia01      ( Date: 30-Jun-2011 11:51) Posted: At least the company is still around and you are still a shareholder. If one day the company does make a come back, you'll benefit. For now, you should treat this as a valuable lesson and move on. It's better to focus on other counters than to crying over spilled milk. MAS is regulate the financial sector and protect you against frauds. This is the case of mis-management, which is a risk that all investors have to take. I don't think they will do anything for you. The only way for you to get rid of the shares is to find someone who is willing to buy them from your hand. You can only do this after the company is delisted and issued you the share certificates.

 

At least the company is still around and you are still a shareholder.

If one day the company does make a come back, you'll benefit.

For now, you should treat this as a valuable lesson and move on.

It's better to focus on other counters than to crying over spilled milk.

MAS is regulate the financial sector and protect you against frauds.

This is the case of mis-management, which is a risk that all investors have to take.

I don't think they will do anything for you.

The only way for you to get rid of the shares is to find someone who is willing to buy them from your hand.

You can only do this after the company is delisted and issued you the share certificates.

 

Hope MAS can step in like the lehman bros notes to save the small investors like me.

 

We should ask what can be done instead...think no one will fight for you if you don't do any thing....

 

 

I am disappointed that the exit offer is not given to the shareholders and it is allowed to be delist. I did not sell my shares in this company thinking that such offer be given prior to be delisted. Wondering if SGX is enforcing on this rule strictly or enforce it only when the owners bother to be cooperative. Also saw the article about general magetics getting delisted without any exit offer. Anyone knows what is the reason that SGX introduces this rule but never ensure the compliance of such rules? And who ensures that that SGX properly implement such rules. I felt l lost my all my  investment in this company due to  the poor management of this company and SGX not ensuring such rules are complied.