Hello,
thanks for putting this up. I have been thinking on this too. Is it legal for the company to change our status from that of shareholders to beneficieries of a trust? They say that the beneficiary of the trust will be " rank pari-passu with the existing equity shareholders".
Also please read the letter that Cameo has sent. They say that there are 2 options from which we are supposed to choose. The 3rd option of continuing is mentioned in such a manner that you will never realise that its an option.
thanks for putting this up. I have been thinking on this too. Is it legal for the company to change our status from that of shareholders to beneficieries of a trust? They say that the beneficiary of the trust will be " rank pari-passu with the existing equity shareholders".
Also please read the letter that Cameo has sent. They say that there are 2 options from which we are supposed to choose. The 3rd option of continuing is mentioned in such a manner that you will never realise that its an option.
Is there any action that we small investors can take? you can each me on 0-94483-62206 Laxmichand Jain
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Blog Writer :-
We are grateful to Laxmnichand Jain for taking up the case against such ANTI SMALL SHAREHOLDER manipulations.
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March 04, 2014
Macmillan Publishers ( India )-Shareholders to Exercise Option to Retain Equity Shares
Macmillan Publishers ( India ) Limited is an Unlisted Company. Its shares were allotted free in 2008 ( 1 : 1 ) to the existing shareholders of Macmillan India Limited ( now renamed MPS Limited )
http://www.rareindianshares.info/2009/08/macmillan-publishers-india-limited.html
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In a very surprising and complicated legal move Macmillan Publishers Limited has extinguished old Equity Shares and has given its shareholders 3 Options :-
1 ) Cash option of Rs. 69 per Share ( same rate as was offered 6 years ago !! )
2 ) Opt for Redeemable Preference Shares ( RPS ).
3) Continue as Equity Shareholder of the Transferee Company ( through Macmillan Equity Shares Trust ).( in terms of Clause 18 . 04 )
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Kindly note :-
1 ) The above Options are to be exercised within a period of 60 days from Record Date i.e. before 13 -04-2014
2 ) The Default Option is No 1 Option i.e. cash offer of Rs.69 per Share
3 ) The Shareholder if he receives a Cheque for Cash Option can return the un encashed cheque with in 30 days and can opt for other two options i.e. Preference Shares / Equity Shares.
3 ) RTA are Cameo Corporate Services Limited ,
Chennai
Tel : 044 -28460390 to 28460395
email : investor@cameoindia.com
========================
Blog Comments :
It seems the management is desperate to kick out its Loyal Minority Equity shareholders at fraction of NAV of Company.
The net worth / prospects seems to have improved greatly ( please recheck this point independently ) with the merger of wholly owned subsidiary , i.e.Frank Brothers And Company ( Publishers ) Limited with Macmillan Publishers ( India ) Limited .
3 ) Regarding our holdings in Macmillan Publishers ( India ) Limited we have opted , on immediate basis , for the Equity Option.
4 ) No worry about Liquidity - Please Recheck independently -( We have Rare Indian Shares site )
===============================
General Warning : Investment in shares can be injurious to your WEALTH.
Caution :The blog writer has personal / family members' holdings in this company ,so please make suitable "provisions " for likely over optimism .
All facts stated in Good Faith . Please recheck every face. no responsibility with the Blog / Writer
http://www.rareindianshares.info/2009/08/macmillan-publishers-india-limited.html
===========================================
In a very surprising and complicated legal move Macmillan Publishers Limited has extinguished old Equity Shares and has given its shareholders 3 Options :-
1 ) Cash option of Rs. 69 per Share ( same rate as was offered 6 years ago !! )
2 ) Opt for Redeemable Preference Shares ( RPS ).
3) Continue as Equity Shareholder of the Transferee Company ( through Macmillan Equity Shares Trust ).( in terms of Clause 18 . 04 )
=====================================
Kindly note :-
1 ) The above Options are to be exercised within a period of 60 days from Record Date i.e. before 13 -04-2014
2 ) The Default Option is No 1 Option i.e. cash offer of Rs.69 per Share
3 ) The Shareholder if he receives a Cheque for Cash Option can return the un encashed cheque with in 30 days and can opt for other two options i.e. Preference Shares / Equity Shares.
3 ) RTA are Cameo Corporate Services Limited ,
Chennai
Tel : 044 -28460390 to 28460395
email : investor@cameoindia.com
========================
Blog Comments :
It seems the management is desperate to kick out its Loyal Minority Equity shareholders at fraction of NAV of Company.
The net worth / prospects seems to have improved greatly ( please recheck this point independently ) with the merger of wholly owned subsidiary , i.e.Frank Brothers And Company ( Publishers ) Limited with Macmillan Publishers ( India ) Limited .
3 ) Regarding our holdings in Macmillan Publishers ( India ) Limited we have opted , on immediate basis , for the Equity Option.
4 ) No worry about Liquidity - Please Recheck independently -( We have Rare Indian Shares site )
===============================
General Warning : Investment in shares can be injurious to your WEALTH.
Caution :The blog writer has personal / family members' holdings in this company ,so please make suitable "provisions " for likely over optimism .
All facts stated in Good Faith . Please recheck every face. no responsibility with the Blog / Writer
1 comment:
i agree with you,
firstly loosing money when macmillan got bifurcated in two companies, and now they are offerring only Rs. 69.
Minority shareholders are loosers.
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