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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » 20-Nov-2012 PCH Holdings - Disclosure of Guarantee offered

20-Nov-2012 PCH Holdings - Disclosure of Guarantee offered

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Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
on the Chairman's Margin Trading Facility

http://www.cse.lk/cmt/upload_cse_announcements/601353402316_.pdf

20-Nov-2012 PCH Holdings - Disclosure of Guarantee offered  Mtf10

Jiggysaurus

Jiggysaurus
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
This is what happens when jokers run publicly listed companies. Basically the shareholders have been forced to carry a guarantee for the joker's personal margin trading facility. No disclosure in the IPO document, shows the lack of corporate governance.
At the very least the SEC should fine the chairman and the company.

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
@Jiggysaurus wrote:This is what happens when jokers run publicly listed companies. Basically the shareholders have been forced to carry a guarantee for the joker's personal margin trading facility. No disclosure in the IPO document, shows the lack of corporate governance.
At the very least the SEC should fine the chairman and the company.

Jokers not only in Public Limited Companies but also in SEC and even in the Parliment also.
Miracle of Asia.

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
Mr Rishan must be in serious hot water.

CH seems to be certainly sinking specially in this high interest environment. Not sure what their recovery expansion plans are.

PCH holding also have many things to worry about now. PCH IPO was at Rs11. Wonder how long without market manipulation it would take to value PCH back over Rs 11.

Did anyone go a deeper dig on what PCH Holding holds, I still did not.

hawklk


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
How very convenient...an oversight.....SEC should put a heavy fine on The Chairman and the Company for the oversight.

Like to know how are they going to revoke the guarantee in the future?

sureshot

sureshot
Vice President - Equity Analytics
Vice President - Equity Analytics
how about granny ? Very Happy

720-Nov-2012 PCH Holdings - Disclosure of Guarantee offered  Empty As at 30/09/2012 Top 20 Share Holders Tue Nov 20, 2012 3:24 pm

sriranga

sriranga
Co-Admin
Just to refresh posting this.

PCH HOLDING PLC
20-Nov-2012 PCH Holdings - Disclosure of Guarantee offered  Pchh11

PC HOUSE PLC
20-Nov-2012 PCH Holdings - Disclosure of Guarantee offered  Pch11

PC PHARMA PLC
20-Nov-2012 PCH Holdings - Disclosure of Guarantee offered  Pcp10

http://sharemarket-srilanka.blogspot.co.uk/

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
@sriranga wrote:


20-Nov-2012 PCH Holdings - Disclosure of Guarantee offered  Pcp10

my goodness, look at the 1st two holder margin providers. Does it cover all margin providers in Sri lanka Wink

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
PCH holdings reveals guarantee made to the chairman before the IPO

Sri Lanka’s listed PCH Holdings PLC says, the company has offered a guarantee to the Chairman S.H. Rishan on margin trading facility in February 2012, but revealed it has not been disclosed due to an ‘oversight’.

In a stock market disclosure issued the company says, that the management would take appropriate steps to revoke the above guarantee in future.
“Therefore management has decided to make a market disclosure on the above lapse and remedial measure taken on the same”, further added the disclosure.
http://www.news360.lk/markets/stock-market/news-sri-lanka%E2%80%99s-20-11-2012-pch-holdings-discloses-guarantee-made-to-the-chairman-before-the-ipo-889076

Fresher


Moderator
Moderator
This information is not adequate. They should disclose the amount of margin. From the shareholding, we can get an idea about the current level, but what is the 'cost'?

As I remember he also holds around 7.2mn GREG 2012 warrants, which later crashed to "0" level. Although this is a small amount compared to other holdings, shareholders must know the burden they're carrying.

If the any of the company goes bust, then S/Hs will left with nothing.

Sidath

Sidath
Manager - Equity Analytics
Manager - Equity Analytics
I think the disclosure is only because SEC found it , and forced them to do so or face court action.

K.Haputantri

K.Haputantri
Co-Admin
@Redbulls wrote:PCH holdings reveals guarantee made to the chairman before the IPO

Sri Lanka’s listed PCH Holdings PLC says, the company has offered a guarantee to the Chairman S.H. Rishan on margin trading facility in February 2012, but revealed it has not been disclosed due to an ‘oversight’.

In a stock market disclosure issued the company says, that the management would take appropriate steps to revoke the above guarantee in future.
“Therefore management has decided to make a market disclosure on the above lapse and remedial measure taken on the same”, further added the disclosure.
http://www.news360.lk/markets/stock-market/news-sri-lanka%E2%80%99s-20-11-2012-pch-holdings-discloses-guarantee-made-to-the-chairman-before-the-ipo-889076
This can't be an oversight. This is a delibarate act of cheating. This man should be in prison by now if SEC acts as per the SEC Act.

K.Haputantri

K.Haputantri
Co-Admin
@Sidath wrote:I think the disclosure is only because SEC found it , and forced them to do so or face court action.
If this is true, SEC is helping some one to wash his dirty linen.

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