The buying demand is there @ 22 & 22.5 cts. It does not make sense to sell below offer price unless sellers believe that there are opportunity costs while waiting. It also provides the opportunity for interested parties to acquire more than 90% to pass the delisting resolution.
Hi guys, I have just read somewhere that this Co. is relisting in HK at HKD6.80 this month... which is equivalent to SGD1.25+ with 2010 forward PE of 8 times..
Someone told me that at Man Wah\'s final AGM, an angry shareholder spit on the floor to show his anger at management for delisting in Sp at such a cheap price.