The Scheme Meeting of ARA Asset Management was concluded yesterday, 23 March 2017. A total of 1,056 shareholders and proxies attended the Scheme Meeting held at Suntec Singapore Convention Centre. 857 of them voted in favor for the Scheme of Arrangement to privatise ARA Asset Management at $1.78 per share. When the poll result was shown onscreen, a few shareholders cheered: “Huat ah!”
While the majority of investors at the meeting were certainly happy about the poll outcome, the 199 shareholders who voted against may not necessarily be so. As it is, this will probably be my last article about ARA and I will wrap it up with what I learned at my very last meeting with them.
Before the poll was conducted, investors were given the chance to speak. Mano Sabnani, a long-time investor, was the first to speak and disagreed with ARA’s first rationale for …Read the full article →