Received a notification for a delisitng without an exit offer of a cold storage company I invested called Nico Steel Holdings. Due to it not meeting the listing rules for 3 years, the company is now delisting without an exit offer.
My Options
The company provided two options- 1) delisting and I would probably get a paper certificate as memory sake or 2) voluntary liqudation of the company.
Well given that the company is valuable where it was trading at 0.25 times the book value (SGD$0.4 cents) at its last trading price of 0.1 cents. I am inclined to just vote for the company to be liqudated. Even if 50% (0.5 times) of its book value is realised, I still get back some cash over I getting nothing
Its going be a straightforward idea rather than let the company flounder while the management get their pay while we shareholders get a paper certificate.
If there are Nico Steel shareholders reading this, I hope you share the sentiment as I :)
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