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LTC Corp (prev. Lion Teck Chiang)
17-11-2018, 03:33 PM.
Post: #241
RE: LTC Corp (prev. Lion Teck Chiang)
(17-11-2018, 02:32 PM)ghchua Wrote:
(17-11-2018, 01:04 PM)opmi Wrote: in first Vard delisting EGM, I feel that the service providers and the IDs sided with the Company(controlled by Offeror) when minorities tried to adjourn with the circular discrepancy.

I remembered there was some arguments but in the end, they decided not to adjourn the EGM on account that the circular discrepancy will not result in a change in opinion on the IFA recommendation - i.e. the exit offer will still be deemed as not fair but reasonable even if the numbers for SembCorp Marine had been corrected.

In LTC Corp case, the argument is that the proposed consultation for change in delisting rules might affect the outcome of the vote at the EGM. Although the IFA opinion is that the exit offer is fair and reasonable, one of the proposed change is that the controlling shareholder cannot vote in the delisting resolution. Since the controlling shareholder holds more than 88% of LTC Corp, it is quite a significant event and the basis for adjournment is there.

OK. this development is good. Thanks!
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster

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26-11-2018, 02:57 PM. (This post was last modified: 26-11-2018, 03:01 PM by MOV.)
Post: #242
RE: LTC Corp (prev. Lion Teck Chiang)

Trying 2nd time for EGM and probably ready to push through...should SGX have suspended all delistings resolutions until its consultation and new rules are completed??
(Not a recommendation to buy or sell, just stating facts)

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26-11-2018, 08:16 PM.
Post: #243
RE: LTC Corp (prev. Lion Teck Chiang)
So mano managed to throw smoke bomb to the board successfully last time?
Did sgx co re reply on the use of that enforceable clause in company act?

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