We call on fellow independent shareholders of Yorkey (2788.HK, 9188.TT) to vote against the connected transactions and demand a distribution of HK$0.81 per share. The stock trades at $0.65, a 39% discount to its cash and a 55% discount to its NAV.
Orgs
Templeton dumps Tongda (0698)
Disclosure of interest, 09-Apr-2013
The firm sold 75m shares on-market on 3-Apr-2013 at an average of $0.476, cutting below the 5% disclosure threshold. That follows the Webb-site article of 30-Mar-2013. The sale price as 53.5% above the $0.31 purchase price on 11-Dec-2012.
Orgs
Tongda and Templeton
Webb-site.com, 30-Mar-2013
When Tongda (0698) trumpeted a "strategic" investment by Templeton in December, and again in the 2012 results this month, demonstrating confidence that the company would reach "new heights", they omitted to mention one very important thing, leaving them both open to prosecution for making misleading statements likely to induce others to buy the shares.
Orgs
People
SFC sanctions Templeton for breaches of Takeover Code