Help! Aztech Group

[wondrdoggie]

Just got a frantic call from my elderly aunty. She asked me what happened to her $5k worth of Aztech stocks she used to own, now it shows she just has 700 shares worth over $300 bucks. She can't tell me much except that she bought a long time ago and have no clue what happened since.

I tried researching what happened to the stock but can't find much info. I remember they used to produce computer accessories I think but now they are into home appliances? Anyone knows? Much appreciated!

 

[Weaboo]

Going to delist liao

 

[lewissac]

Aztech gets mandate to delist from SGX

http://www.straitstimes.com/business/aztech-gets-mandate-to-delist-from-sgx

Shareholders must now decide whether to accept the 42-cent exit offer, which closes at 5.30pm on Jan 23. If the Muns cannot secure more than 50 per cent of issued shares by the close of Jan 23, the delisting will not proceed and Aztech will remain listed on the Singapore Exchange (SGX). If they can cross the 50 per cent threshold by then, the delisting will proceed and shareholders will be stuck with illiquid shares, although the offer could be extended beyond the closure date.

 

[Asphodeli]

if you ask me, i think the founders are hanging on too tightly to the "Aztech" brand name. better to cobble together retail investors and liquidate the company in parts and pieces, rather than let the privatisation process go through.

given the general apathy of the retail investors here in Singapore though, most likely the privatisation will be successful.

BTW there was a 10 to 1 share consolidation/reverse split in May 2015, so your aunt most likely is sitting deep underwater for this stock. all the best.

 

[Roland216]

The major shareholder and what was pre-agreed only about 30% to accept the offer. 20% significant shareholder and the remaining 50% is largely public holding their shares.

The company had not being performing well. i "Think" privatisation offer won't go through..

 

[Roland216]

See their shareholdings statistics extracted from Annual Report 2015 page 113

Link here http://aztech.listedcompany.com/home.html

 

[Wood41]

$5k worth & now 700 shares worth $300 possible ?
Could trade <1k years ago ?

 

[wondrdoggie]

Ok, think I solved the mystery of why my aunt's shares suddenly shrunk. Back in 2015, they did a 10-1 consolidation. After that, share prices continued to drop. Sigh. Got to call her to explain what happened.

She is not only elderly investor with Aztech. Apparently many of her friends and relatives bought too. And they all decided to bochap as the prices drop. Not a very good strategy.

 

[lewissac]

$5k worth & now 700 shares worth $300 possible ?
Could trade <1k years ago ?

Possible

The share peaked around $6.00+ at 2007. And then it dips down.

 

[lewissac]

Ok, think I solved the mystery of why my aunt's shares suddenly shrunk. Back in 2015, they did a 10-1 consolidation. After that, share prices continued to drop. Sigh. Got to call her to explain what happened.

She is not only elderly investor with Aztech. Apparently many of her friends and relatives bought too. And they all decided to bochap as the prices drop. Not a very good strategy.

I'm sorry to hear that.

Probably, if the company liquidate, can recoup some back.

 

[Wood41]

No wonder Michael wants to sell duck? rice .

Possible

The share peaked around $6.00+ at 2007. And then it dips down.

 

[Weaboo]

What to do? Aztech screwed their investors

 

[IIRedsunsII]

Boycott all aztech products and their stupid $5 million kay lee!!

 

[Average]

Boycott all aztech products and their stupid $5 million kay lee!!

lol, i nv wanted to buy in the first place...

Sent from 穷小子 using GAGT

 

[Layers]

Possible

The share peaked around $6.00+ at 2007. And then it dips down.

wa $6 become 4xcents?

Sent from Sony E6853 using GAGT

 

[luxcan]

Sorry to hear that for your aunt. This is every investor's worst nightmare.

But also a clear reminder to everyone here not to engage in speculation (buy just because the price dips or there is always a pattern that the stock hover between x and y).

I am feel your aunt's pain

 

[havetheveryfun]

Sorry to hear that for your aunt. This is every investor's worst nightmare.

But also a clear reminder to everyone here not to engage in speculation (buy just because the price dips or there is always a pattern that the stock hover between x and y).

I am feel your aunt's pain

not just that but only to monitor your holdings regularly..

luckily its only 5k.. can imagine if she was holding 50k of stocks only to find that its only 3k after so many years? no warning, no nothing...

no need every day glue your eyes to the market, but at least maybe once or twice a month..

 

[ccostagmont]

your aunt considered heng liao la...
money losing business still can get back something.

moi s-chips got SUSP, up lorry, marnee went missing, chairman n all executives went missing, no marnee back at all...

 

[Layers]

I read some book is buy and look at it a few times a yr.....but I ish everyday look lol

I doubt I can just forgot abt it

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[Wood41]

Who was the talent who called her to buy it at $6 ?