Challenger Technologies

[challengerSH]

@ the pianist - are you a Challenger shareholder?  If so, please reach out to Pangolin.

[ghchua]

Challenger's minority shareholders say its cash exit offer too low
https://www.straitstimes.com/business/co...er-too-low

[pianist]

@ the pianist - are you a Challenger shareholder?  If so, please reach out to Pangolin.

Dun worry I'm definitely a long time loyal shareholder fully vested and nil shares sold to date
Obviously voting against and buying more from market these days

[challengerSH]

@ the pianist - are you a Challenger shareholder?  If so, please reach out to Pangolin.

Dun worry I'm definitely a long time loyal shareholder fully vested and nil shares sold to date
Obviously voting against and buying more from market these days

Great to hear we're on the same team!  Thanks a lot for the questions - it's very important that shareholders have all the information required to make their rational decision.

Have you written to Pangolin to contribute your shares?  If you've, that's great - we can add to the 7.8% statistic.

Please help spread the word too - and encourage shareholders to write into Pangolin.

[challengerSH]

Calling all minority shareholders.  

I encourage all minority shareholders to help the cause by writing into Challenger to request a copy of the share register.  Challenger is legally required by Companies Act Section 192 to send us individual names, addresses of all shareholders.  

Link to Section 192:  https://sso.agc.gov.sg/Act/CoA1967?ProvI...92-#pr192-

If Challenger does not provide us with the register, the public company and every officer of the company who is in default shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $400 and also to a default penalty.

We should use our rights to request the information required to reach out to all minority shareholders!

[ACTIVIST SPEAKS]

You are "encouraging" others to request a copy of the share register, safe to assume you are having problem getting it yourself. We have been down this road in earlier privatization. Citing PDPA and Companies Act, the registrar can provide a one-liner shareholders register with CDP as the only shareholder (at a cost). More shocking news for you...MAS and ACRA agreed with that interpretation. We have brought this up even to the Minister but to no avail.

Maybe things change these few months...and hopefully, you can get what you need for your purpose.

[Choon]

This privatisation fiasco could very well happen to The Hour Glass (huge cash balance as well).

Last year, SGX proposed to amend the privatisation rules, such that the proposer of a privatisation will not have voting rights. Only the other shareholders have a right to vote and by which a majority (by shareholding) is required, in order to proceed with the transaction.     

If I recall correctly, to be implemented in 2019. Looks like the amendment will not be in time for Challenger.

[pianist]

What is the advantage of asking pangolin to vote against on my behalf over asking chairman of the meeting to vote against? If ask pangolin, does it mean sending the signed form to Pangolin?

[pianist]

Closed up 0.575 today very nice ah. is the loo consortium buying at 0.575 today

[challengerSH]

What is the advantage of asking pangolin to vote against on my behalf over asking chairman of the meeting to vote against? If ask pangolin, does it mean sending the signed form to Pangolin?

Hi Pianist,  you should ask Pangolin to vote only if you cannot attend the EGM.

However, by letting Pangolin know in advance the number of shares you have and your intent to vote against, it means we might be able to know before the EGM that we have 10% of the votes.  Which also means Challenger will be more incentivised to provide a revised offer given it's going to fail at the EGM anyway.  So I encourage you to write in to Pangolin.  Thank you very much.