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-   -   Do you think the Sembcorp Ind/Marine voting in mid August will pass through? (https://forums.hardwarezone.com.sg/money-mind-210/do-you-think-sembcorp-ind-marine-voting-mid-august-will-pass-through-6347467.html)

greentiger 31-07-2020 09:07 AM

Do you think the Sembcorp Ind/Marine voting in mid August will pass through?
 
Own some Sembcorp shares. Wondering whether I should sell it before the voting in mid August.

Any opinion?

What do brokers think? Any feedback from your clients?

BlueRobin 31-07-2020 09:33 AM

I own SCI shares.

My take; SCI shareholders will vote for the demerger while SMM against.

reddevil0728 31-07-2020 02:10 PM

Quote:

Originally Posted by BlueRobin (Post 128812702)
I own SCI shares.

My take; SCI shareholders will vote for the demerger while SMM against.

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)

BlueRobin 31-07-2020 05:57 PM

Quote:

Originally Posted by reddevil0728 (Post 128817540)
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

reddevil0728 01-08-2020 12:21 AM

Quote:

Originally Posted by BlueRobin (Post 128821210)
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

ah got it....


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