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04-04-2012, 11:03 AM
Yes, the CK Tang case is a doubt for me how they manage to do it. I refer to "CHAPTER 17 CORPORATE FINANCE AND SECURITIES REGULATION". It stated that it is a escape clause for remaining shareholder to do so. It is not a norm, but a exception
17.8.14 This power of compulsory acquisition is presently only available to a company, not to an individual. If an Offeror acquires 90% of the shares of the Offeree company, it may by notice require that the dissenting shareholders sell its shares to it. In calculating the 90% threshold, shares held or acquired by the Offeror, its related corporations and their respective nominees are excluded. The notice must be sent within two months of the satisfaction of the 90% threshold. The shareholder whose shares are thus to be acquired may apply to Court for an order that the Offeror is not entitled to acquire the shares , or specifying different acquisition.
17.8.14 This power of compulsory acquisition is presently only available to a company, not to an individual. If an Offeror acquires 90% of the shares of the Offeree company, it may by notice require that the dissenting shareholders sell its shares to it. In calculating the 90% threshold, shares held or acquired by the Offeror, its related corporations and their respective nominees are excluded. The notice must be sent within two months of the satisfaction of the 90% threshold. The shareholder whose shares are thus to be acquired may apply to Court for an order that the Offeror is not entitled to acquire the shares , or specifying different acquisition.
“夏则资皮，冬则资纱，旱则资船，水则资车” - 范蠡