Design Studio

[nsengkia]

Depa Interiors LLC recently made an offer for Design Studio and obtained 90.55% of the total share capital. Design Studio was thus suspended because of the low public float.

Depa has since stated that they intend to maintain Design Studio's listing status and is working to restore Design Studio's public float.

I have just received their Form 58 - informing me to call Design Studio for the procedure to give notice to Depa requiring Depa to acquire the shares. The procedure is quite a hassle requiring the making of an appointment to come down to Design Studio to get the necessary forms, making a subsequent appointment with their designated lawyer to come down and sign the form in front to him to witness, and finally making a second appointment with Design Studio to hand in the forms.

Other Form 58 from companies in similar situation in the past have simply included a Form of Acceptance and Authorisation for shareholders to sign and return to CDP to execute the same.

Any forumner who are in the same predicament can offer any advise on how best I can handle this?

[valuestalker]

Hi Nsengkia,

Is it compulsory to release your share to Depa?
I was thinking to retain my share also, but decided to tender after reviewing Design Studio Q2 Report.

[nsengkia]

It is not compulsory to release your share to Depa.

Originally, I only wanted to find out about the process and only decide whether or not to release my share to Depa later just before the three month window is up.

I was not keen to hold on beyond the three month window as Depa had given no guidance as to when the placement would take place and my understanding is that they are under no obligation to meet any deadline.

Given the current positive market sentiment, there is a high chance that there could be a good placement price so holding on to my shares for three months may be quite profitable.

But after all these hassles they are making me jump through, I have more or less decided to tender as Depa comes across as not very friendly to minority shareholders.

[Musicwhiz]

Design Studio's latest results:-

http://info.sgx.com/webcoranncatth.nsf/V...5003EBEA9/$file/DesignStudioAnn3Q2011.pdf?openelement

and press release:-

http://info.sgx.com/webcoranncatth.nsf/V...5003EBEA9/$file/DesignStudioNewsRelease3Q2011.pdf?openelement

It would seem that revenues declined quite a bit for 3Q 2011 and so did net profit. I was choosing between Design Studio and Kingsmen back in early 2010, and in the end I stuck with Kingsmen.

[VIChris]

Design Studio's latest results:-

http://info.sgx.com/webcoranncatth.nsf/V...5003EBEA9/$file/DesignStudioAnn3Q2011.pdf?openelement

and press release:-

http://info.sgx.com/webcoranncatth.nsf/V...5003EBEA9/$file/DesignStudioNewsRelease3Q2011.pdf?openelement

It would seem that revenues declined quite a bit for 3Q 2011 and so did net profit. I was choosing between Design Studio and Kingsmen back in early 2010, and in the end I stuck with Kingsmen.

Hi Musicwhiz,
trying to understand and learn, would you like to share why you choose Kingsmen over Design Studio?

Thanks