CM Pacific weird preference shares

[SCG8866T]

Its a rights offering, which means upon subscription, the rights will become mother share. But the preference shares cannot be traded(non renouncable), the nil rights cannot be traded and the subscription price is $1 which is higher than last done price. Dont make sense..

 

[pattanispirit]

ts can bring up in coming SGM on 14 Sep.

it seems to be CM Pacific management r not familiar w how SGX works. the local staff also didn't advise their China boss or he really bo chap.

during the last agm, the shareholder ask them how to handle the odd lot resulted after the 1 for 20 bonus share.

he just answer something like there is nothing he can do. shareholder should buy/sell their shares so that it won't happen (remind me of MY stock exchange)

something big gg to happen to its parent co - merger with Sinotrans

http://www.bloomberg.com/news/articles/2015-09-04/sinotrans-jumps-on-merger-report-of-parent-with-merchants-group