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Raffles Education Corp
30-12-2018, 09:39 PM.
Post: #31
Raffles Education
Oei Hong Leong asked for an EGM two weeks ago to vote against the rights issue.
Since then, neither the company nor Oei has made any announcement.   Does anybody know what's the latest?

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01-01-2019, 05:37 PM.
Post: #32
RE: Raffles Education
(30-12-2018, 09:39 PM)Shiyi Wrote: Oei Hong Leong asked for an EGM two weeks ago to vote against the rights issue.
Since then, neither the company nor Oei has made any announcement.   Does anybody know what's the latest?


there is a latest update by the company and legally, they do not need the hold the EGM, with the reason because they already obtained a share issue mandate in the last AGM.

http://infopub.sgx.com/FileOpen/Announce...eID=539093

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21-08-2019, 11:44 PM. (This post was last modified: 21-08-2019, 11:45 PM by dreamybear.)
Post: #33
RE: Raffles Education Corp
Raffles Education full-year net profit nearly quadruples to S$40.2m
Wed, Aug 21, 2019 - 7:29 PM

RAFFLES Education Corporation saw net profit attributable to equity holders nearly quadruple to S$40.2 million for the year ended June 30 from S$10.6 million the year before, it announced in a results filing on Wednesday after market close.

Revenue edged up 1 per cent to S$97.9 million from S$96.8 million the year before.

Other operating income also surged to S$45.1 million, compared with S$4.4 million the year before, including a S$37.4 million gain on the disposal of subsidiary Langfang Development Zone Oriental University City Sino-Singapore Education Investment Co.

Earnings per share were 2.92 Singapore cents, compared with 0.90 cent the year before. No dividend was declared, similar to the previous year, which Raffles Education said was because it does not have accumulative profits to declare a dividend.......

Read more : https://www.businesstimes.com.sg/compani...s-to-s402m

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22-08-2019, 10:44 PM.
Post: #34
RE: Raffles Education Corp
(21-08-2019, 11:44 PM)dreamybear Wrote: Raffles Education full-year net profit nearly quadruples to S$40.2m
Wed, Aug 21, 2019 - 7:29 PM

RAFFLES Education Corporation saw net profit attributable to equity holders nearly quadruple to S$40.2 million for the year ended June 30 from S$10.6 million the year before, it announced in a results filing on Wednesday after market close.

Revenue edged up 1 per cent to S$97.9 million from S$96.8 million the year before.

Other operating income also surged to S$45.1 million, compared with S$4.4 million the year before, including a S$37.4 million gain on the disposal of subsidiary Langfang Development Zone Oriental University City Sino-Singapore Education Investment Co.

Earnings per share were 2.92 Singapore cents, compared with 0.90 cent the year before. No dividend was declared, similar to the previous year, which Raffles Education said was because it does not have accumulative profits to declare a dividend.......

Read more : https://www.businesstimes.com.sg/compani...s-to-s402m

There is $16 million "receivable" in relation to the disposal of Langfang Development Zone Oriental University City.
Not sure if this is recoverable.

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02-09-2019, 07:39 PM. (This post was last modified: 02-09-2019, 07:40 PM by dreamybear.)
Post: #35
RE: Raffles Education Corp
Oei Hong Leong, Raffles Education's Chew Hua Seng in courtroom face-off
2 Sep 2019

SINGAPORE - Tycoon Oei Hong Leong is facing off against the chairman of Raffles Education Chew Hua Seng in the High Court, over an alleged promise by Mr Chew to procure a buyer for Mr Oei's shares in the mainboard-listed education provider............

On Oct 16, 2017, Mr Oei and Mr Chew at the house of Mr Oei's sister had a discussion that culminated in two identically worded handwritten notes made by Mr Chew, which is the subject of this lawsuit. According to the plaintiffs, Mr Chew had agreed to procure a buyer to buy all of the plaintiffs' 12.88 per cent stake in Raffles Education at 44 cents per share within a month from the date of the note.

The plaintiffs would withdraw their notice of requisition for an extraordinary general meeting (EGM) at Raffles Education in return for Mr Chew's procurement. The EGM aimed to remove Mr Chew as chairman and chief executive.........

The damages of $15 million that Mr Oei is claiming is the difference between the sale price of 44 cents and the 33 cents when trading closed on Nov 15, 2017, the deadline in the alleged deal. The higher amount of damages of S$26.5 million were assessed by the plaintiff's expert witness..........

Read more : https://www.straitstimes.com/business/co...m-face-off

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02-09-2019, 11:59 PM.
Post: #36
RE: Raffles Education Corp
(02-09-2019, 07:39 PM)dreamybear Wrote: Oei Hong Leong, Raffles Education's Chew Hua Seng in courtroom face-off
2 Sep 2019

SINGAPORE - Tycoon Oei Hong Leong is facing off against the chairman of Raffles Education Chew Hua Seng in the High Court, over an alleged promise by Mr Chew to procure a buyer for Mr Oei's shares in the mainboard-listed education provider............

On Oct 16, 2017, Mr Oei and Mr Chew at the house of Mr Oei's sister had a discussion that culminated in two identically worded handwritten notes made by Mr Chew, which is the subject of this lawsuit. According to the plaintiffs, Mr Chew had agreed to procure a buyer to buy all of the plaintiffs' 12.88 per cent stake in Raffles Education at 44 cents per share within a month from the date of the note.

The plaintiffs would withdraw their notice of requisition for an extraordinary general meeting (EGM) at Raffles Education in return for Mr Chew's procurement. The EGM aimed to remove Mr Chew as chairman and chief executive.........

The damages of $15 million that Mr Oei is claiming is the difference between the sale price of 44 cents and the 33 cents when trading closed on Nov 15, 2017, the deadline in the alleged deal. The higher amount of damages of S$26.5 million were assessed by the plaintiff's expert witness..........

Read more : https://www.straitstimes.com/business/co...m-face-off

Without the court case, minority shareholders would have not known the "secret deal" between the two.
Isn't the deal a material information that should have been publicly announced?

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03-09-2019, 12:52 PM.
Post: #37
RE: Raffles Education Corp
it's deal between shareholders not company so it's not material information to be published by the company, unless it leads to GO.
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