Post by oldman on Jun 21, 2014 10:33:00 GMT 7
One of the reasons I am not that keen to invest in companies listed abroad is because they probably have these same conditions for rights issues as we have here in Singapore. If the rights issue is deeply discounted and overwhelming in terms of size, existing shareholders are likely to lose out. This surely is one way of making it very difficult for overseas investors to take control of local companies, wherever these may be.
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Foreign Shareholders
For practical reasons and for avoidance of violating any foreign laws, the Rights Shares or the
Warrants will not be offered to Shareholders with registered addresses outside Singapore as at
the Books Closure Date and who have not, at least three (3) market days prior to the Books
Closure Date, provided to the Company’s share registrar or CDP, as the case may be, addresses
in Singapore for the service of notices and documents (“Foreign Shareholders”). The OIS and
the accompanying documents will not be mailed outside Singapore.
The entitlements to the Rights Shares and the Warrant which would otherwise be provisionally
allotted to Foreign Shareholders will, if practicable, be sold “nil-paid” on the SGX-ST or dealt with
in such manner as the Directors may, in their absolute discretion, deem fit in the interest of the
Company.
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Foreign Shareholders
For practical reasons and for avoidance of violating any foreign laws, the Rights Shares or the
Warrants will not be offered to Shareholders with registered addresses outside Singapore as at
the Books Closure Date and who have not, at least three (3) market days prior to the Books
Closure Date, provided to the Company’s share registrar or CDP, as the case may be, addresses
in Singapore for the service of notices and documents (“Foreign Shareholders”). The OIS and
the accompanying documents will not be mailed outside Singapore.
The entitlements to the Rights Shares and the Warrant which would otherwise be provisionally
allotted to Foreign Shareholders will, if practicable, be sold “nil-paid” on the SGX-ST or dealt with
in such manner as the Directors may, in their absolute discretion, deem fit in the interest of the
Company.