During the EGM, Chairman explained the rationale for doing a pte placement to fund the acquisition. Just then, it hit me that they already went ahead with the placement in Oct, even before this EGM to approve the resolution. Two things came to my mind:
1) It implied to me that the Board n Mgmt are very confident that the proposal will go thru, or they simply don't bother abt the retail unitholders votes.
2) What happens if unitholders reject the proposal, when pte placement already done? Can the proposal still proceed without unitholders' blessings? If they can't do so, what could be the legal implications?
I'm still new to investing, so would like to hear views of the experts.
Areit EGM details will be posted by 9pm today!
Reply to @NinjaStars : Thank you! Have saw your report. Well done!
The only takeaway for me from this EGM is not the bento, rather it's the notion of MLT's reluctancy to offer DRP again next time.
No photo of bento since never queue for it. So a photo of the bento voucher to make up for it. Haha..
Reply to @JASS : nex time give me, i can jiak 2 serving
During the EGM, Chairman explained the rationale for doing a pte placement to fund the acquisition. Just then, it hit me that they already went ahead with the placement in Oct, even before this EGM to approve the resolution. Two things came to my mind:
1) It implied to me that the Board n Mgmt are very confident that the proposal will go thru, or they simply don't bother abt the retail unitholders votes.
2) What happens if unitholders reject the proposal, when pte placement already done? Can the proposal still proceed without unitholders' blessings? If they can't do so, what could be the legal implications?
I'm still new to investing, so would like to hear views of the experts.
Reply to @whitemorning : No prob