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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » DUNAMIS CAPITAL PLC (CSEC.N0000)

DUNAMIS CAPITAL PLC (CSEC.N0000)

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mdcpk1975
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21DUNAMIS CAPITAL PLC (CSEC.N0000) - Page 2 Empty Future of CSEC Mon Oct 28, 2019 3:05 pm

dmtmadusanka


Senior Equity Analytic
Senior Equity Analytic
What will happen at tomorrow EGM?

It will close at price of Rs. 48.30 or above

Any one can guest what is the exact price for CSEC delisting

22DUNAMIS CAPITAL PLC (CSEC.N0000) - Page 2 Empty Re: DUNAMIS CAPITAL PLC (CSEC.N0000) Mon Oct 28, 2019 3:14 pm

soileconomy


Vice President - Equity Analytics
Vice President - Equity Analytics
@dmtmadusanka wrote:What will happen at tomorrow EGM?

It will close at price of Rs. 48.30 or above

Any one can guest what is the exact price for CSEC delisting

It is already given.Anyone who does not agree will have go to courts

23DUNAMIS CAPITAL PLC (CSEC.N0000) - Page 2 Empty Re: DUNAMIS CAPITAL PLC (CSEC.N0000) Mon Oct 28, 2019 3:36 pm

dmtmadusanka


Senior Equity Analytic
Senior Equity Analytic
Please carefully refer documents which are send by the company and after you can advice.
Thank you

24DUNAMIS CAPITAL PLC (CSEC.N0000) - Page 2 Empty Re: DUNAMIS CAPITAL PLC (CSEC.N0000) Mon Oct 28, 2019 3:45 pm

soileconomy


Vice President - Equity Analytics
Vice President - Equity Analytics
@dmtmadusanka wrote:Please carefully refer documents which are send by the company and after you can advice.
Thank you
According to my knowledge they have quoted a price  and that will be approved by the shareholders (due to the fact over 97% is owned by the parent company )and any one who does not agree to the said price will either have agreed to the given price or  entitle for new shares they are offering.
Exception is go to courts and justify the price suggest by the shareholder who does not agree.

25DUNAMIS CAPITAL PLC (CSEC.N0000) - Page 2 Empty Re: DUNAMIS CAPITAL PLC (CSEC.N0000) Mon Oct 28, 2019 3:52 pm

dmtmadusanka


Senior Equity Analytic
Senior Equity Analytic
Ha ha haa

if you don’t know the law please don’t comment. I have asked about company law. Not your knowledge.

26DUNAMIS CAPITAL PLC (CSEC.N0000) - Page 2 Empty Re: DUNAMIS CAPITAL PLC (CSEC.N0000) Tue Oct 29, 2019 6:50 pm

dmtmadusanka


Senior Equity Analytic
Senior Equity Analytic
අද කව්ද ගියෙ CSEC EGM එකට. සමාගම් පනතේ තිබ්බට special resolution එකක් පාස් කරන්න නිතියක් ( EGM එකට සහාභාගි වෙන අයගෙන් proxy ද ඇතුලුව 75% ක් හො ඊට වඩා වැඩි චන්දයක් ගතයුතුයි කියන නිතිය) නඑක නෙමෙයි එතන ක්‍රියත්මක උනෙ. Ordinary resolution එකකට ආදාල නිතිය. කොටස් ගාන මත පදනම්ව තමයි ඒ resolution එක පාස් උනෙ.

සාහාභාගි උන අයගෙන් 5 දෙනෙක් වත් පක්ශව චන්දෙ භාවිතා නොකල අතර අනිත් සීයලු දෙනම විපක්ෂව තමයි චන්දෙ භාවිතා කලෙ. ඉට පස්සෙ රහස් චන්දයක් තියල කොටස් ප්‍රමනය මත 98% වඩා වැඩි ගානකින් resolution එක පාස් කලා.

(for your information )

27DUNAMIS CAPITAL PLC (CSEC.N0000) - Page 2 Empty Re: DUNAMIS CAPITAL PLC (CSEC.N0000) Tue Oct 29, 2019 8:26 pm

player

player
Moderator
Moderator
I was to go and vote against the resolution since my avg price is around 51, but finally i sold out since i had to settle my margin acct.  Stil holding few shares thought separate accts.  Anyway even single shareholder can go for justice over minority buy rights.

28DUNAMIS CAPITAL PLC (CSEC.N0000) - Page 2 Empty Re: DUNAMIS CAPITAL PLC (CSEC.N0000) Tue Oct 29, 2019 8:30 pm

soileconomy

soileconomy
Vice President - Equity Analytics
Vice President - Equity Analytics
@dmtmadusanka wrote:Ha ha haa

if you don’t know the law please don’t comment. I have asked about company law. Not your knowledge.
I was trying to clarify something up to my knowledge.It is up to you comment about it.

29DUNAMIS CAPITAL PLC (CSEC.N0000) - Page 2 Empty Re: DUNAMIS CAPITAL PLC (CSEC.N0000) Tue Oct 29, 2019 8:32 pm

player

player
Moderator
Moderator
@dmtmadusanka wrote:අද කව්ද ගියෙ CSEC EGM එකට. සමාගම් පනතේ තිබ්බට special resolution එකක් පාස් කරන්න නිතියක් ( EGM එකට සහාභාගි වෙන අයගෙන් proxy ද ඇතුලුව 75% ක් හො ඊට වඩා වැඩි චන්දයක් ගතයුතුයි කියන නිතිය) නඑක නෙමෙයි එතන ක්‍රියත්මක උනෙ. Ordinary resolution එකකට ආදාල නිතිය. කොටස් ගාන මත පදනම්ව තමයි ඒ resolution එක පාස් උනෙ.

සාහාභාගි උන අයගෙන් 5 දෙනෙක් වත් පක්ශව චන්දෙ භාවිතා නොකල අතර අනිත් සීයලු දෙනම විපක්ෂව තමයි චන්දෙ භාවිතා කලෙ. ඉට පස්සෙ රහස් චන්දයක් තියල කොටස් ප්‍රමනය මත 98% වඩා වැඩි ගානකින් resolution එක පාස් කලා.

(for your information )


Thanks,  so literally resolution not passed.  All can go against the directors.

30DUNAMIS CAPITAL PLC (CSEC.N0000) - Page 2 Empty Re: DUNAMIS CAPITAL PLC (CSEC.N0000) Tue Oct 29, 2019 10:10 pm

Promoney


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Even if anyone goes to courts, it will be a waste of time. The price offered is 2.8 times the net asset value. Price offered looks even better in relation to earnings.. and it is significantly higher than the market price during the past 6 months. These are the criteria considered to assess whether the price is fair. Courts will rule in favour of the company decision, petitioners will only lose their legal fees

31DUNAMIS CAPITAL PLC (CSEC.N0000) - Page 2 Empty Re: DUNAMIS CAPITAL PLC (CSEC.N0000) Tue Oct 29, 2019 10:59 pm

dmtmadusanka


Senior Equity Analytic
Senior Equity Analytic
There is no any problem with net assets value or price. Problem is coming from delist from cse. Coz of majority of share holders did not vote for delist. (special resolution had not been passed properly)

Other facts are

CSEC was announcing to dispose there subsidiary of CFVF. We dont know what will the profit realize from that transaction. They havent considered that kind of potential gains for the share valuation.....

32DUNAMIS CAPITAL PLC (CSEC.N0000) - Page 2 Empty Re: DUNAMIS CAPITAL PLC (CSEC.N0000) Tue Oct 29, 2019 11:08 pm

Promoney


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Companies act says, one share holds one vote.. otherwise no need for shareholders to invest and hold a majority.. all u need to do is to get about a thousand ppl holding 1 share each  to an EGM.and get whatever proposal u make get passed.

Process is, someone proposes, someone excepts. If there are objections a vote is taken based on shareholding. Again 1 share means one vote

33DUNAMIS CAPITAL PLC (CSEC.N0000) - Page 2 Empty Re: DUNAMIS CAPITAL PLC (CSEC.N0000) Tue Oct 29, 2019 11:12 pm

dmtmadusanka


Senior Equity Analytic
Senior Equity Analytic
Please refer the company act for special resolution

34DUNAMIS CAPITAL PLC (CSEC.N0000) - Page 2 Empty Re: DUNAMIS CAPITAL PLC (CSEC.N0000) Tue Oct 29, 2019 11:59 pm

Promoney


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
I have gone through the Act. A show of hands vote will only carry by the Chairmans observation. Since a vote.by show of hands is not recorded anywhere, its totally up to the chairman to make the observarion and call out either "motion is carried" or "motion is rejected". If he deems show of hands is inconclusive,  he can call for a Vote by Poll. If a vote by poll is taken, each shareholder present or voted by proxy shall have one vote for each share. So in this instance, the chsirman had called for a Vote by Poll and the resolution had been passed by over 75% of the vote as declared to the CSE by the company.

35DUNAMIS CAPITAL PLC (CSEC.N0000) - Page 2 Empty Re: DUNAMIS CAPITAL PLC (CSEC.N0000) Wed Oct 30, 2019 12:03 am

Promoney


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Shareholders cant go to courts and say "I saw only 4 ppl raising their hands for the resolution and around 20 ppl didnt vote your honor".. thats why a poll is taken and recorded with the names of the shareholders and their shareholding..

36DUNAMIS CAPITAL PLC (CSEC.N0000) - Page 2 Empty Re: DUNAMIS CAPITAL PLC (CSEC.N0000) Wed Oct 30, 2019 9:03 pm

player

player
Moderator
Moderator
@dmtmadusanka wrote:There is no any problem with net assets value or price. Problem is coming from delist from cse. Coz of majority of share holders did not vote for delist. (special resolution had not been passed properly)

Other facts are

CSEC was announcing to dispose there subsidiary of CFVF.  We dont know what will the profit realize from that transaction. They havent considered that kind of potential gains for the share valuation.....
 I like you 😘😘

37DUNAMIS CAPITAL PLC (CSEC.N0000) - Page 2 Empty Re: DUNAMIS CAPITAL PLC (CSEC.N0000) Wed Oct 30, 2019 9:22 pm

Promoney


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Meanwhile CFVF did a collection run today.. and foreigners net buyers againDUNAMIS CAPITAL PLC (CSEC.N0000) - Page 2 20191010

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