Teledata – We will wait for the next action plan for delisting

The entire drama got a clear message now that delisting must go on after SGX issued a letter on 10th June 2014. We do not like the handling methods from Teledata. We also do not like SGX ways either. We will only comment if there is a need to delist is when a company show no will to be lifted anymore. In the case of Teledata, SGX decision to delist Teledata we believe has hurt not the major but also the minority share holder. Purely go by the book practises.

We will wait for the next action plan from the management of Teledata. An exit plan if any and option to go private together. If SGX is to be really something, they will need to govern the share holder I believe a need to offer buy back at least at SGD 0.01. Given historical price on recent placement, NTA, share issued for acquisition and off market deal.

On our point of view, the management need to only have a one genuine action. Inform publicly that Teledata can delist on SGX and re-list in Jakarta, London, KLSE or even Thailand exchanges. With the plan and its current revenue and profit. Teledata can easily fetch good market pricing compare staying in SGX.

If the major share holder Irene is genuine. It is no rocket math to come out with a quick solution and continue its business. Life without SGX may be even better. Else, offer a right price for minority to exit.

4 thoughts on “Teledata – We will wait for the next action plan for delisting

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  1. It seems there has been a difference treatment between Digiland and Teledata. SGX might has distrusted Irene.

    1. Yes, in my view SGX should charge Irene if they think she has done something not according to law. By delisting a profitable and intension to stay a float company. SGX hurts minority shareholders. What more if the company worth at least 0.005 and now retail selling at 0.002 or even 0.001. Irene can easily buy more at this level. Delist the company and sell at higher price to others.

      Teledata has its strength in regional presence. With a market cap just merely SGD 7 mil is a bargain to Irene. Isnt SGX needs to guard the interest of minority share holder but in this context. SGX screwed up the whole stuff.

  2. What will happen to small investors of Teledata after the delisting? Will they ever recover their investment?

    1. The process now is to delist and issue share certificates to share holders. It will transform become a limited company. If the company is profitable and we will never know. Potentially recover and earn more. Perhaps also become nothing. But I believe the major share holder will have a lot of pressure to relist to recover their investment.

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