Qu, Tony Jianping
NWD (0017): wins case against Tony Qu Jianping & Prediwave
Company announcement, 2-Jan-2007
Note: Webb-site urged shareholders to reject the privatisation of New World TMT Ltd last February, because of the possible recovery in this case, for which nothing was offered by NWD. We have now been proven right, and this is possibly the biggest windfall in the history of privatisations by controlling shareholders. Update: the eventual recovery by 30-Jun-2008 was HK$2025.1m, or $2.13 per TMT share, of which 79% was by 30-Jun-2007 . NWTMT was privatised at $0.75.
Company announcement, 2-Jan-2007
Note: Webb-site urged shareholders to reject the privatisation of New World TMT Ltd last February, because of the possible recovery in this case, for which nothing was offered by NWD. We have now been proven right, and this is possibly the biggest windfall in the history of privatisations by controlling shareholders. Update: the eventual recovery by 30-Jun-2008 was HK$2025.1m, or $2.13 per TMT share, of which 79% was by 30-Jun-2007 . NWTMT was privatised at $0.75.
Prediwave Corp and Modern Office Technology Ltd v New World TMT Ltd
HK Court of First Instance, 18-Aug-2006
HK Court of First Instance, 18-Aug-2006
Reject the bid for NWTMT
We start the year with a recommendation to reject the $0.75 privatisation offer for NWTMT. The uncertainty over the PrediWave case, where the claim is worth $5.70 per share, is too great, and investors should wait for its resolution. Even a 10% recovery would increase NAV by 76%. The vote is on 13-Jan-06, so vote NOW. (3-Jan-2006)
We start the year with a recommendation to reject the $0.75 privatisation offer for NWTMT. The uncertainty over the PrediWave case, where the claim is worth $5.70 per share, is too great, and investors should wait for its resolution. Even a 10% recovery would increase NAV by 76%. The vote is on 13-Jan-06, so vote NOW. (3-Jan-2006)
Sign up for our free newsletter
Recommend Webb-site to a friend
Copyright & disclaimer, Privacy policy