LOOK OUT FOR SYNEAR FOOD !

The stock is at 18.8 - 18.9 cents. Of course, it is a strong sign the privatisation attempt will fail. Some BBs are indeed pissed off with the 18.6 cent offer and are simply collecting at above 18.6 cents, preventing the Offeror from accumulating beyond their current weak position of 57%.

The Offeror cannot buy at anything above 18.6 cents, in case u dont know the rule.

Do the IDs need to give an opinion on the offer under the current rule?

Ladies & gentlemen, the BB's identity is now revealed : Greenwoods Asset Management Limited.

It has just crossed over the 5% threshold and become a SS. It is obvious to me that Greenwoods is going to mop up a lot of shares in the days & weeks ahead  in order to effectively kill the privatisation offer.

(Greenwoods Asset Management is an investment management company specializing in managing investments into mainland China companies.)

It's Day 3 and Synear's Offeror really are out of the game. Managed to get only 150,000 shares all at 18.6 cents. Total  holding now is a pathetic  57.74%. How to reach 90% when the BB  is queuing to buy at 18.8 cents ?

This BB Greenwood is going to hit past 10% by next week, I think, and then it's Game Over for Synear Offeror.

To get to 10%, Greenwood needs another S$13.5 million to buy at 18.8 cents. Effectively, it will kill the privatisation offer. However, it is not nec for Greenwood to reach 10% because there are enough smart shareholders around who will vote against the Offer.

Sharing a solid posting by my friend 'behappyalways' @ Valuebuddies.com

There was a delisting by Full Apex a few years back. The delisting was prevented and what the mgmt did after that was to sold off part of the biz to 'uninterested parties' and stop dividend (no dividend for 'misbehaving'?) The delisting price was 0.18 if i remember correctly....now after a few years, with no dividend, share price is 0.10. If I remember correctly, it resulted in a legal suit between the mgmt and a US fund which owns a significant stake...around 10%....(1st part of the story is quite similar to Synear now.....how about 2nd part? It's anyone guess ).The biz sold is now sold back to the company due to the legal suit.....quite messy and I did not update on the company so those interested can dig on the company. I think they hold their AGM outside Singapore too so for a minority shareholder it is 'expensive' if you do not own a lot of shares and had to fly overseas to question the mgmt during AGM.

Minority shareholders got F big time......whether delisting succeeds or not...the mgmt can decide not to distribute dividend from then on......in order to 'preserve' cash for future business operation.....while they continue to get paid....

For delisted company like General Magnetics, minority shareholders also got F big time but then as a consolation, they can still see that the main asset which is the building is still around and they can still interact with the mgmt during the AGM held in Singapore while for those foreign companies, you need to depend much more on goodwill on the mgmt that their assets are not sold while they are still recorded on book. For a country which 'eliminates' religion during the cultural revolution and getting rich is glorious......this goodwill is 'fleeting'......