First, read this statement:
“Along with the release of its 2Q07 results, Roly also announced a proposed voluntary delisting of Roly from the Singapore Exchange. The rationale for the proposed delisting was that the share prices of its listed entities, namely Roly, Linmark and Byford on the relevant exchanges do not reflect the underlying values of these entities.
In addition, Roly also cited high costs and time spend on compliance with listing rules and regulatory matters as further reasons behind the proposal. The exit offer price for shareholders is pegged at S$0.35. The deal is subject to the approval of shareholders at a special general meeting to be held within 3 months.”
The “voluntary” delisting have since been approved to become a mandatory delisting.
So, how have I been ripped off?
The management of this company feels that the market prices of it’s shares are under-valued, then proceeds to make an arrangement for the shareholders to sell out their shares at near market prices.
What kind of logic is that?
We have no choice but to sell our shares at bargain prices.