Only 23% voted in SPH EGM

Extraordinary General Meeting was called by Singapore Press Holdings (SPH) on 10 September 2021 to get shareholders’ approval on hiving off the media businesses of SPH to a company limited by guarantee (CLG).

Based on total ordinary shares issued (1,600,649,000 shares*) only 23% of the total ordinary shares care to vote on the ordinary resolution (comprising 369,120,948 shares).

* extracted from the Annual Report of SPH for 31 August 2020.

Of these 369,120,948 shares, 97.5% voted in favour and 2.45% voted against the resolution.

77% of total shareholder base did not care to vote. I wonder how this large base feels of the resolution?

Singapore Press Holdings is now going to lose the media businesses and becomes a pure property player after that.

The share price of SPH had risen from a low of $1.09 at 31 August 2020 to $1.96 (2.08 pm 13 Sep 2021). The pure property play raises the share price of SPH.

Next to watch is whether Keppel Corp succeeds in acquiring SPH.

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