LOOK OUT FOR SYNEAR FOOD !

Offeror bought 92.2 m shares on the open market yesterday at 18.5 cents.
This brings its holding to 56.84%. Very low to think about delisting the company.
In fact, today it is in the rmarket buying at 18.6 cents. Desperate .....

I doubt it can reach 90% to delist the company.

the price now stands at 18.7 cts, this is unusual. is there a campaign going on to blcok the delisting and/or force the offeror to raise the offer price?

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Synear's exit offer at 18.6 cents is poor compared to the far higher prices that serious investors paid (>30 cents). However, pundits who recently bought in at 13 cents would be merry-making, having able to sell at 40% more! In recent years, s-chips come and go at their whims and fancies.  Some even left without any exit offer!  No one cares for the plight of serious investors. Some are found to be fraught with accounting irregularities and fraudulent transactions.  Many claimed to have high capital expenditure and therefore could not pay shareholders any dividend though they had huge cash holdings!  Of course, some of these were subsequently found to be untrue. S-chips were very well promoted, hence the high interests shown.  Synear's exit offer can succeed if they could garner more than 75% shareholding and also it less than 10% rejected the offer.  Serious investors could thus reject the offer if the 18.6 cents is way below their cost.

Hi Low CS, do you think Synear can succeed? It managed to get only 0.9% on day 2, yesterday because the stock price went up beyond 18.6 cents and it cannot buy at higher than 18.6 cents. There is obviously a strong effort by some investors to block this Synear from being privatised at this crazily cheap price.

What is SGX and the independent directors doing when they are suppose to protect the interest of the retail investors.Looks pretty obvious that many of these S-Chips hv been artificially pushed down or bad sentiments created so that major shareholders can delist and at disgustingly low price. Even some of these S-chips with excellent results have been artificially pushed down.If the independent directors are sincere they should get the management to do share buyback in order not to allow these shares to be manipulated.Are they truly independent or loyal to the majority shareholders who have engaged them.These are the questions SGX and the independent directors have to answer. Some of these S-chips with large cash haul seem not bothered about protecting shareholders value. Are the auditors doing their job or part of the scam too. With the new requirement the independent directors should be having half of the voting rights in the board of directors,why cannot they get the management to prop up the price.Has SGX queried them about this?

I agree with your points below, Guest. What stocks to buy now @ crazy prices so that no one can say if a delisting offer is made at cheapo prices --Why didnt you buy it ?