Quarz urges Sunningdale Tech to return cash to shareholders
Activist fund Quarz Capital Management takes aim at the mainboard-listed firm in an open letter
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Singapore
SHARES of Sunningdale Tech jumped six cents or 4.29 per cent to S$1.46 on Thursday after activist fund Quarz Capital Management identified the mainboard-listed high-precision plastic components maker as its latest target.
In an open letter to the board on Thursday, Quarz urged Sunningdale to return more cash to shareholders, by distributing at least 60 per cent of core net income in 2019 as dividends.
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