Monday, 5 May 2014

What's that? A 488-page circular?

Gee, I've just received this package through the Post today. From upstairs, I had heard the postman coming but before I could go out to meet him, he had thrown something over the gate. It landed in the porch with a heavy thud. Letters don't go thud, and neither do fragile items. But this one did. 

And this was what I found after ripping open the plastic bag: a 488-page "circular" from cover-to-cover to shareholders from my old employment,, calling for an extra-ordinary general meeting to discuss, among other things, the sale of the business in Malaysia, Singapore, the Philippines, Indonesia and some other smaller interests to SEEK International Investments in Australia. 

So finally, this is it: the continuing saga of the disposal of's main business to their main rival in this region. It needs shareholder ratification on the distribution of the proceeds. I may want to attend this extra-ordinary general meeting but I may not have the time to do so. Not when I shall be travelling back from a trip overseas and I would just want to get home as fast as possible, not break my journey.

Moreover, I do not expect a dissent or the resolutions to be rejected by the shareholders as this can be deemed a done deal already. I'm sure that the majority shareholders have a stranglehold on the en bloc votes even without my participation. So as a very minor minority shareholder, I shall just have to wait and see when the company will pay us shareholders our special dividend. That's all.

(Oh yes, there was sort of a note from the Post Office to tell me that the envelope was torn and had been re-secured by them. Personally signed as well. Nice of the Post Office to tell me that.)

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