having gone through the material, i think three questions are still alive:
1) What do you all make of this at para 8.5 of the agreement announcement:
Further to RHT’s announcement on 8 February 2018 in respect of its unaudited financial statements for the nine months ended 31 December 2017 (“9MFY2018 Announcement”), the Trustee-Manager wishes to inform Unitholders and investors that it has since received a further INR530.0 million from the relevant Fortis entities towards the payment of outstanding fees for both 1HFY2018 and 3QFY2018. Assuming all such amounts were applied towards the payment of outstanding amounts for 1HFY2018, there would be no further amounts outstanding in respect of 1HFY2018.
As at the date hereof, an aggregate of INR670.7 million accrued and due remains outstanding in respect of services fees and interest income on CCDs for 9MFY2018, including INR198.1 million5 in respect of interest income on CCDs for 1HFY2018.
What is the above in bolded red coloured font in relation to?
2) As another posted asked above, there are 2 more quarters to go before Sep 2018. Will there be further Dividends?
i could not find any information / answers on this
3) What happens to a Shell Company?
i think RULE 1018 of the SGX Listing manual provides a clue
1018 Cash Companies
(1) If the assets of an issuer consist wholly or substantially of cash or short-dated securities, its securities will normally be suspended. The suspension will remain in force until the issuer has a business which is able to satisfy the Exchange's requirements for a new listing, and all relevant information has been announced. Upon completion of the disposal of its operations and/or assets, the issuer must:—
(a) Place 90% of its cash and short-dated securities (including existing cash balance and the consideration arising from the disposal(s) undertaken by the issuer) in an account opened with and operated by an escrow agent which is part of any financial institution licensed and approved by the Monetary Authority of Singapore. The amount that is placed in the escrow account cannot be drawn down until the completion of the acquisition of a business which is able to satisfy the Exchange's requirements for a new listing, except for payment of expenses incurred in a reverse takeover approved by shareholders and pro-rata distributions to shareholders; and
(b) Provide monthly valuation of its assets and utilization of cash, and quarterly updates of milestones in obtaining a new business to the market via SGXNET.
Taking the above compliance into account, the Exchange may allow continued trading in a cash company's securities on a case-by-case basis, subject to:—
(c) Contractual undertakings from the issuer's directors, controlling shareholders, chief executive officer and their associates to observe a moratorium on the transfer or disposal of all their interests, direct and indirect, in the securities of the issuer; and
(d) The period of the moratorium must commence from the date shareholders approve the disposal of business, up to and including the completion date of the acquisition of a business which is able to satisfy the Exchange's requirements for a new listing.
(2) The Exchange will proceed to remove an issuer from the Official List if it is unable to meet the requirements for a new listing within 12 months from the time it becomes a cash company. The issuer may apply to the Exchange for a maximum 6-month extension to the 12-month period if it has already signed a definitive agreement for the acquisition of a new business, of which the acquisition must be completed in the 6-month extension period. The extension is subject to the issuer providing information to investors on its progress in meeting key milestones in the transaction. In the event the issuer is unable to meet its milestones or complete the relevant acquisition despite the time extension granted, no further extension will be granted and the issuer will be removed from the Official List and a cash exit offer in accordance with Rule 1309 should be made to the issuers' shareholders within 6 months.