Adampak

[CityFarmer]

Just curious - assuming you remain a shareholder of Adampak group post-delisting, wouldn't it be possible for the majority shareholder (Navis) to restructure the group and move all of its key subsidiaries into another Holding Company for $1 and you will be left with a worthless shell company ?

I think in the case of private companies, minority shareholders can get protection from the law under Companies Act Section 216. A Google search shows that there is a recent precedent for this.

Relevant links:
Companies Act: http://statutes.agc.gov.sg/aol/home.w3p
Brief facts: http://www.lexology.com/library/detail.a...49a0348c5d
Verdict: http://www.bonvests.com.sg/cms/downloads/BuyRV.pdf

Thanks D123 for a comprehensive reference on the topic.

To add on it, I would like to share the attached doc, which is easier to refer as layman. Please refer to section 7 for minority right. I believe the doc applies to both private and public companies.