ARA Asset Management

[specuvestor]

Actually just need 87 more voters to come to vote no and the SoA will fail

The 'FOR' camp won.  Quite overwhelmingly so.

Frankly,  I was a little surprised at the margin. 86% voting in person or proxy voted for the scheme (representing 98.64% of the share value).

[Image: ARA-2017-03-2_zpsjpvejucs.jpg]

[lonewolf]

Actually just need 87 more voters to come to vote no and the SoA will fail

Nope. Headcount criteria is 50% (not 75%). So need 330 more to vote 'No' for resolution to fail.

[specuvestor]

^^you are right. I confused the 50% and the 75%

http://www.lawgazette.com.sg/2012-06/445.htm

[ACTIVIST SPEAKS]

"He suggests that shareholders who want to invest together with ARA, can either look to its stable of REITs, or look at Straits Trading as a proxy."

Straits Trading as a proxy??? Straits Trading is run by a lady who thinks it is a pain to ask for shareholders' approval for major decision. With this mentality, she should take Straits Trading private and run it like her grandfather's company.

[ksir]

"He suggests that shareholders who want to invest together with ARA, can either look to its stable of REITs, or look at Straits Trading as a proxy."

Straits Trading as a proxy??? Straits Trading is run by a lady who thinks it is a pain to ask for shareholders' approval for major decision. With this mentality, she should take Straits Trading private and run it like her grandfather's company.

OTOH, it is also true that majority of minority shareholders do not care or try to understand the Business.

Hence from Management point of view, such meetings are really painful at times.
I feel that a lot too (as fellow minority shareholder) and I can understand why alot of good and heathy companies want to delist.

If the minority shareholders do not do their homework and understand the business and thence support the business decisions, why do we even deserve to share the profit?

Cheers;

[gutman]

"He suggests that shareholders who want to invest together with ARA, can either look to its stable of REITs, or look at Straits Trading as a proxy."

Straits Trading as a proxy???  Straits Trading is run by a lady who thinks it is a pain to ask for shareholders' approval for major decision.  With this mentality, she should take Straits Trading private and run it like her grandfather's company.

I politely disagree. I think almost every listed company finds it a pain to ask shareholders' approval for major decision. They do it because they have to as required. If they are given a choice, most, if not all, are likely to skip this process. Chew Gek Khim is probably just being frank about it.

After yesterday's Scheme meeting, I had an opportunity to speak with Justin Chiu, the Chairman of ARA. He also mentioned that staying listed can be pretty cumbersome (I am paraphrasing here). Many a times, investors try to tell them what to do or how to run their business. And being a listed entity, they  have to "entertain", or otherwise explain why they are not doing so. Imagine if all the 1000 plus investors tell them what to do and they have to spend their time responding.

I would think it is not wrong to give feedback to a company as an investor, particularly when they are not performing well. But if the Captain of the ship is steering the ship well in the right direction, it is probably best to leave him to do his job. 

Back to ARA. It certainly has been a good ride on the ARA ship, which was well run by a good captain and capable sailors. I am fortunate that I have allocated more than 30% of my portfolio on ARA and have benefited greatly. It is therefore, with some sadness but also plenty of gratefulness that I disembark this vessel as they continue on a different journey. I do sincerely wish them well and hope they do even better, much better. 

And I agree, that if I cannot invest in ARA, I would really consider investing in Straits Trading which owns 20.1% of ARA. I took a judgement by believing what John Lim said many years ago on ARA's growth story, and I will probably believe his words again. In his own words on Chew Gek Khim

" She is analytical and detailed in her approach to decision making, yet at the same time, she is able to harness her entrepreneurial spirit to ultimately derive an exceptional outcome or solution which is fair to all parties. "  - John Lim, Group CEO, ARA Asset Management

[opmi]

When u take other people's money, you are their 'bitch'

So those listed companies went IPO with their eyes wide open, so dont say now it is troublesome/cumbersome.

Their alternative to IPO is bank loans with personal guarantee aka be the banks' bitch.

Chew bought OCBC'S ST stake at high before crisis. Sold off family heirlooms like ST building. Then help John Lim to divest his ARA stake. I dont find her to be 'smart money'

[newyorkcityboy]

Today is the last trading day for ARA. Just to confirm, because it is a Scheme of Arrangement that is approved by the courts, shareholders of ARA who did not tender earlier will AUTOMATICALLY get squeezed out, ie, ARA shareholders who did not sell by end today will get a cheque in their mail soon?

Cheers.

[d.o.g.]

Today is the last trading day for ARA. Just to confirm, because it is a Scheme of Arrangement that is approved by the courts, shareholders of ARA who did not tender earlier will AUTOMATICALLY get squeezed out, ie, ARA shareholders who did not sell by end today will get a cheque in their mail soon?

Cheers.

Short answer: You don't need to do anything.

Long answer: There was never a tender to begin with as this is a scheme of arrangement and not a general offer. Even if you wanted to tender your shares early you couldn't because there was no offeror to tender your shares to.

[newyorkcityboy]

Thank you, d.o.g! Hope you are keeping well.

Cheers.