ECS

[VestedInterest]

http://infopub.sgx.com/FileOpen/ECS%20-%...eID=316029

What does this suspension mean for minority shareholders? Suspension because <10% of its shares are in public hands.

[propertyinvestor]

Local S Chip? Probably a delisting offer at 63c

[tycoon]

It would be a steal for vst to privatise the company at 63c.

Look into the excess cash holdings, stake in ECS ICT Bhd and the required capital for the business, the intrinsic value should be more than 1.30 in coming years.

[tycoon]

Below extracts from sgx rulebook
--------------------------
Free Float

723

An issuer must ensure that at least 10% of the total number of issued shares excluding treasury shares (excluding preference shares and convertible equity securities) in a class that is listed is at all times held by the public.

724

(1) If the percentage of securities held in public hands falls below 10%: —
(a) The issuer must, as soon as practicable, announce that fact; and
(b) The Exchange may suspend trading of the class, or all the securities of the issuer.
(2) The Exchange may allow the issuer a period of 3 months, or such longer period as the Exchange may agree, to raise the percentage of securities in public hands to at least 10%. The issuer may be delisted if it fails to restore the percentage of securities in public hands to at least 10% after the period.

[cif5000]

Creepy!!

13 Mar 2014 (in 2013 Annual Report)
Total shares: 366,810,174
VST: 327,580,093 or 89.31%

25 Sep 2014
Total shares: 327,580,093 (due to 2,630,000 new shares issued from share options)
VST: approximately 89.5% (extracted from suspension announcement)

With the increase in total number of issued shares, shouldn't VST stake be diluted? Instead, it creep up. Why hasn't there been any announcement? Ok, SGX requires that only when it amounts to a full percentage. How about HKSE? No need to announce when you increase your stake in your principal subsidiary? Anyone familiar with the HK rules?

[tycoon]

share options issued are considered insiders holdings

[tycoon]

share holding increased through share option scheme are likely exempted from the hkex disclosure requirement?

[cyclone]

Exit for OPMI.

VOLUNTARY UNCONDITIONAL CASH OFFER BY UNITED OVERSEAS BANK LIMITED FOR AND ON BEHALF OF VST HOLDINGS LIMITED FOR ECS HOLDINGS LIMITED : S$0.68 in cash per share.

11.48% premium over last transacted price per share on 22 September 2014 (S$0.61).