Today\'s Business Times..... Expect another run up for Lion? \'Pay special dividend\' call to Lion Asiapac Shares trading at huge discount to cash value, group says in petition By CHEW XIANG SOME shareholders of Lion Asiapac want the company to pay out some of its $190 million cash hoard as a special dividend to boost the share price, which is trading a third below the company\'s cash value. Twentysix people and the Wenzhou Clan Association of Singapore signed a petition last month saying they were disappointed that a special dividend wasn\'t declared when the company released its half-year results on Feb 10. \'Shareholders continue to remain in the dark about how Lion Asiapac\'s huge cash pile will be utilised,\' the petition said, noting that the share price at around 31 cents is hugely discounted to the company\'s cash value of 47 cents a share. Lion Asiapac executive director Eric Loh told BT the company was now at a \'crossroads\', after selling Anhui Jianghuai Automobile Co last year for a total gain of $88.5 million. \'We have to balance the needs of shareholders who want growth and those who want dividends,\' he said. The company is continually seeking new investment opportunities, he added, but could not comment on the dividend proposal. Chai Ming Yao, a spokesman for the petitioners, said the group held about 10 million shares in all, or about 2.5 per cent of the company, well short of the 10 per cent needed to call a shareholders\' meeting. Another of the group, Ivan Huang, said a special dividend would restore the confidence of minority shareholders, as the company\'s depressed share price signals a lack of confidence from investors. \'If significant profits are made along the way, surely minority shareholders deserve a share,\' Mr Huang said. \'If a company only keeps reinvesting its profits over and over again without declaring dividends, minority shareholders will never be able to benefit no matter how profitable the projects are.\' According to company filings, it has paid out one cent a share a year in the past three years, five cents in 2006, 0.7 cent in 2005 and 0.5 cent in 2004. Last December, the company failed in a bid for Australia-listed mining firm Polaris Metals. Lion Asiapac\'s present business is in quicklime, contract manufacturing and scrap metal trading. Yesterday, the stock closed down one cent at 31.5 cents.
Wow, this is exciting...minority shareholders\' activism. We should all sign it and garner the 10% to call for a shareholders\' meeting..how to put my signature to it?
Wow, this is exciting...minority shareholders\' activism. We should all sign it and garner the 10% to call for a shareholders\' meeting..how to put my signature to it?
Hi, If you are keen to join us, please PM me. The more shareholders we have, the more effective we will be. Thank you.
Wow, this is exciting...minority shareholders\' activism. We should all sign it and garner the 10% to call for a shareholders\' meeting..how to put my signature to it?
Hi, If you are keen to join us, please PM me. The more shareholders we have, the more effective we will be. Thank you.
1668, I am keen to, as would many other minority shareholders. Is there a way of leaving your contact details here for the benefit of all of us. If there are more companies like Hwa Hong around, shareholders will be pretty happy. Incidentally, trading is halted pending an announcement which I suspect has something to do with their Tenet sales?
Wow, this is exciting...minority shareholders\' activism. We should all sign it and garner the 10% to call for a shareholders\' meeting..how to put my signature to it?
Hi, If you are keen to join us, please PM me. The more shareholders we have, the more effective we will be. Thank you.
1668, I am keen to, as would many other minority shareholders. Is there a way of leaving your contact details here for the benefit of all of us
Realise there isn\'t a PM facility here. Please email me at cmingyao@yahoo.com. Looking forward to your support. Thanks.
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