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The Straits Times ( 9 Oct 2014) reported on the passing of The Companies (Amendment) Bill yesterday and removes the one share -one vote restriction on public companies.
Senior Minister of State for Finance Josephine Teo says the Bill will ensure that there are checks and balances. Mrs Teo said the law will still require small companies to keep proper accounts and have measures to prevent abuse by bigger companies.
Does anyone know what she meant by "proper accounts" ??
Personally , I THINK dual-class shares are unfair to small shareholders .
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Why push the small investors to a already disadvantage position ?
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^^ ACRA better make sure Substantial shareholder cannot vote on issuing super-shares to themselves.
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I dunno what is the problem here. Shares are simple instrument - ownership of a company that can be freely traded.
If one feel being disadvantage then just sell or don't buy lor...
If you feel short changed by legislator, there is always a democratic process.
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(12-10-2014, 06:02 PM)Nick Wrote: Don't SPH already have a dual share structure ?
http://www.sph.com.sg/system/misc/annual...tistic.pdf
The SPH shareholding structure is dual-classed, management and ordinary shares, but it is mandatory due to Newspaper and Printing Presses Act of 1974, rather than available options of listing.
Source:
http://statutes.agc.gov.sg/aol/search/di...=0#pr10-he-.
Anyway, it isn't new, and it can be just another listing option.
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