After reported consistent profit for the year. New placement recently plus positive future plan and acquisition of IPAsia Korea. SGX still notify Teledata to be delisted without further extension time allow.
Personally we don’t like Teledata potential management conflict in the pass few months. But so do SGX responsibility in taking care of the minority share holder. If SGX allows Teledata to placed SGD 0.02 to acquire IPAsia Korea. If SGX is not favor to Teledata plan of right issue to stay a float. Will SGX force the major share holder buy back all shares at SGD 0.02? What happen to the share holder of IPAsia Korea?
5 for 1 ultimate right issue should be a valid plan. If SGX is not able to approve the appeal. I would think if SGX is being to rigid but not at the angle to protect but same time govern and promote recovery company.
We will hold it for now. However in the event SGX approved its right issue plan. We will fully subscribe to Teledata 5 for 1 right shares. In the event it is going to delist from SGX. We will still like to be off market share holder. We may increase our share holding by last minute purchase to push our share holding further in the company. As we are convince with the recovery path.
In the event Teledata is offering its minority share holder an exit option. We will only consider if it is above SGD 0.015.