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Investor activism may be key to reviving market

Forget about independent financial advisers and independent directors – a dose of aggressive shareholder activism might be the answer to lowball offers

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Ben Paul

Ben Paul

Published Mon, Jun 26, 2023 · 05:00 AM
    • Sias lamented in a March commentary that the "ridiculous lowball" offers foment investor resentment and mistrust in the local market.
    • Sias lamented in a March commentary that the "ridiculous lowball" offers foment investor resentment and mistrust in the local market. PHOTO: BT FILE

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    THE independent financial adviser (IFA) on the delisting of Golden Energy and Resources (Gear) issued a press release last month to “categorically refute” this column’s assertion that its opinion on the deal was faulty.

    It should not have bothered. The press release essentially reiterated what had already been said in Gear’s circular to its shareholders.

    More importantly, the delisting proposal – which the IFA had said was fair and reasonable – received 99.9 per cent support when it was eventually put before minority shareholders of Gear at an extraordinary general meeting (EGM) on Jun 9.

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    BT CorrespondentsShareholder activismPrivatisationSabana ReitGolden Energy & ResOCBCGreat Easternboustead projectsboustead singaporettj holdingsQuarz Capital

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