Internet Technology Group

(21-06-2012, 05:35 PM)CityFarmer Wrote: With the last few days of trading of around $0.13, rationally the issue price 0.122 should be accept-able by shareholder

I will be surprised if the controling shareholders (i.e. the Goh brothers, including their private holding company, Ossia Holdings P/L) would not opt to take their dividends in new ITG shares, as this will increase their combined total stake from the present 50.38%. But for most minority shareholders, the coming $0.035/share dividend is just too sweet!

(22-06-2012, 06:40 AM)dydx Wrote:

(21-06-2012, 05:35 PM)CityFarmer Wrote: With the last few days of trading of around $0.13, rationally the issue price 0.122 should be accept-able by shareholder

I will be surprised if the controling shareholders (i.e. the Goh brothers, including their private holding company, Ossia Holdings P/L) would not opt to take their dividends in new ITG shares, as this will increase their combined total stake from the present 50.38%. But for most minority shareholders, the coming $0.035/share dividend is just too sweet!

Rationally, the same reason should be applicable to minority shareholders. IMO, the ultimate motivation come from the level of confidence on the company.

BTW, if everyone opt the scrip dividend, the holding % will remain for all shareholders.

I had signed and mailed the Notices of Election form early this week.

I am holding my confidence on ITG. The offer price of scrip dividend is reasonable to me

Looking forward to see the result of subscription...

The announcement of the take-up rate of scrip dividend

http://info.sgx.com/webcorannc.nsf/Annou...endocument

With simple calculation, the take-up rate is slightly more than 60%.

It will keep approx 60% (approx 2.4 mils) of dividend with the company, and paid approx 1.5 mils in cash

With the current cash reserve, ITG is well-equipped to develop the piece of land in China

I think minority shareholders should bear in mind that after the latest dividend payment (with scrip option), the controlling shareholders, i.e. the Goh Brothers - Goh Ching Wah, Goh Ching Lai, and Goh Ching Huat, and their combined private investment holding company, Ossia Holdings P/L - now together hold/control a total 55.15% stake (raised from 50.38% before the dividend payment) in ITG.

(23-07-2012, 06:29 PM)dydx Wrote: I think minority shareholders should bear in mind that after the latest dividend payment (with scrip option), the controlling shareholders, i.e. the Goh Brothers - Goh Ching Wah, Goh Ching Lai, and Goh Ching Huat, and their combined private investment holding company, Ossia Holdings P/L - now together hold/control a total 55.15% stake (raised from 50.38% before the dividend payment) in ITG.

Most of the new share issues under scrip dividend scheme are awarded to the Goh brothers. It is votes of confidence on the company by Goh brothers.

Less than 20% of new shares are awarded to minority shareholder like me. Most of the minority shareholders chose to opt cash instead.

(13-06-2012, 04:37 PM)CityFarmer Wrote: Most of the new share issues under scrip dividend scheme are awarded to the Goh brothers. It is votes of confidence on the company by Goh brothers.

Less than 20% of new shares are awarded to minority shareholder like me. Most of the minority shareholders chose to opt cash instead.

I wondered whether it is really a vote of confidence or maybe they are just trying to conserve some cash or maybe an easier way to increase their hold on the company without footing a single cent?

Frankly the Goh brothers does not have a very good track record of corporate management compared to others. Remember eworldofsports.com?

(23-07-2012, 08:45 PM)lonewolf Wrote: I wondered whether it is really a vote of confidence or maybe they are just trying to conserve some cash or maybe an easier way to increase their hold on the company without footing a single cent?

Frankly the Goh brothers does not have a very good track record of corporate management compared to others. Remember eworldofsports.com?

Hey! I didn't say that! I'm a victim of idolising Koh Boon Hwee last time. Now, left behind, carrying his baby... 200 shares @ $0.133 = $26.60 (before charges). Why can't I have the choice to just cancel it / dump it into a 'trash can', like Club Memberships!

(23-07-2012, 08:45 PM)lonewolf Wrote:

(21-06-2012, 11:19 PM)KopiKat Wrote: Most of the new share issues under scrip dividend scheme are awarded to the Goh brothers. It is votes of confidence on the company by Goh brothers.

Less than 20% of new shares are awarded to minority shareholder like me. Most of the minority shareholders chose to opt cash instead.

I wondered whether it is really a vote of confidence or maybe they are just trying to conserve some cash or maybe an easier way to increase their hold on the company without footing a single cent?

Frankly the Goh brothers does not have a very good track record of corporate management compared to others. Remember eworldofsports.com?

I didn't know my nickname is "KopiKat" , but i am seriously feel honor though it is likely a honest mistake

Cash is still cash, either it is hard-earn or via windfall. I am still regarded taken-up scrip dividend as vote of confidence, though with zero net cash flow.

But thanks for the input. I will dig-in further. I am looking forward to know them better via face-to-face in AGM.

(21-06-2012, 11:19 PM)KopiKat Wrote: Hey! I didn't say that! I'm a victim of idolising Koh Boon Hwee last time. Now, left behind, carrying his baby... 200 shares @ $0.133 = $26.60 (before charges). Why can't I have the choice to just cancel it / dump it into a 'trash can', like Club Memberships!

What the hell?? I swear I din change yr name and just 'quoted' CityFarmers's post on the 'vote of confidence'.

Dun know how it happened but my apologies for any unnecessary griefs.

[UPDATE] I think I know what happened liao. Its really my fault. I've amended my post and I really sincerely apologise to Kopikat as I intends no mischief or malice.