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Old 31-07-2020, 05:57 PM   #4
BlueRobin
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Join Date: Mar 2018
Posts: 105
erm. based on their most recent report, Temasek has around 49% interest in SCI. and SCI has about 60% interest in SMM.

so unless i am missing something, in the case of SCI unless 51% of the other shareholders say no (which I really doubt they are all so together in arms), it will definitely go through.

for SMM, since SCI has interest of almost 61%, it is also given?

unless the interested parties say they will abstain from the vote? or if the voting threshold is set above a simple majority (i didn't read the proposals so maybe they have diff voting threshold for such corporate actions)
There was an article on Business Times (please google) where it was stating that SCI and its directors who hold SMM shares will refrain from voting. It becomes the minority shareholders (of SMM) decision if they want the demerger to takes place. The problems for these minority shareholders is that if demerger is going ahead, rights issue follows and it would means they will need to come out with cash if they are buying into the issue. That is my understanding from reading the article. I hope I am wrong.

[edit] Found the article
https://www.businesstimes.com.sg/com...s-get-deciding

Last edited by BlueRobin; 31-07-2020 at 06:00 PM..
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