This post is to highlight the shareholder unfriendliness of Best World (BW) Management to its public shareholders. It bears no form of accusations or slander to its management.
On 31 December 2021, Best World has offered $1.36 as an equal access scheme where it will buy 10% of its share base. It is built off its equal access scheme which I note has a clause:
2. The purchase price to be paid for the Shares pursuant to
the purchases or acquisitions of the Shares must not exceed:
(a) in the case of a Market Purchase, one hundred and five per cent. (105%) of the Average Closing Price (as
defined hereinafter); and
(b) in the case of an Off-Market Purchase pursuant to an equal access scheme, one hundred and twenty per cent (120%) of the Average Closing Price (as defined hereinafter). (i) “Average Closing Price” means the average of the closing market prices of the Shares over the last five (5) Market Days...
