Dear All,
Kindly follow below steps to stop compulsory Buy back by RRE.
1) E voting - Dissent to the resolution (Against) (Kindly check your different portfolios) https://www.
2) Send duly filled and signed postal ballot with Registered AD
3) Register complaint against company on SCORE. http://scores.gov.in/
4) If possible, Issue Legal Notice to promoter.
Please circulate into your group as many as possible who have shares of RRE.
Regards,
Jignesh Gohel
(M) 9408709494
=======================
OLD POSTS
November 17, 2016
Sheer Loot -Reed Relay Compulsory Buyback @ Rs.107- Experts Say
Letter by a Shareholder to the Company :-
Dear Sir:
I have received your postal Ballot Notice regarding compulsory acquisition of non-promoter shareholdings. In this connection the proposal seems to me a dishonest, illegal and criminal proposal for illegal enrichment at the cost of the non-promoter shareholders who have believed in your entrepreneurship and invested in your Company by going through your published Balance Sheet of several years. Till date we were not aware that you had criminal and illegal intentions to cheat the shareholders of your own company. We were under the impression that the promoters are all people of high ethics, morality, equity and fair. However the dark side of you has come out openly through this compulsory acquisition proposal which I am sure will be a black mark for you for generations to come.
Your reasoning for the compulsory acqusition as mentioned in the explanatory statement in the garb of SEBI guidelines etc are all deliberate falsehood with ulterior motives of personal enrichment. In the process it is distressing to see two professionals 1) P. Pattabiraman and Co. Chartered Accountants and 2) Mr. Adit N. Bhuva, Practising Company Secretary are also colluding with you for your illegal proposal.
The proposal raises fundamental questions of investments in Securities of Public Limited Companies by investors and the way in which corporate governance are handled by fraudulent promoters like you. The systematic mis-use of SEBI guidelines, misuse of the name of High Court, Companies 2013 etc.in your proposal are a big challenge.
I have decided to take up the matter with appropriate legal forums to see that you are prevented from going ahead with this proposal.
In the meanwhile you are requested to kindly forward me a copy of valuation report of P. Pattabiramen & Co, Chartered Accountants who has determined a fair value of the shares.
P P Zibi jose
Shareholder
I have received your postal Ballot Notice regarding compulsory acquisition of non-promoter shareholdings. In this connection the proposal seems to me a dishonest, illegal and criminal proposal for illegal enrichment at the cost of the non-promoter shareholders who have believed in your entrepreneurship and invested in your Company by going through your published Balance Sheet of several years. Till date we were not aware that you had criminal and illegal intentions to cheat the shareholders of your own company. We were under the impression that the promoters are all people of high ethics, morality, equity and fair. However the dark side of you has come out openly through this compulsory acquisition proposal which I am sure will be a black mark for you for generations to come.
Your reasoning for the compulsory acqusition as mentioned in the explanatory statement in the garb of SEBI guidelines etc are all deliberate falsehood with ulterior motives of personal enrichment. In the process it is distressing to see two professionals 1) P. Pattabiraman and Co. Chartered Accountants and 2) Mr. Adit N. Bhuva, Practising Company Secretary are also colluding with you for your illegal proposal.
The proposal raises fundamental questions of investments in Securities of Public Limited Companies by investors and the way in which corporate governance are handled by fraudulent promoters like you. The systematic mis-use of SEBI guidelines, misuse of the name of High Court, Companies 2013 etc.in your proposal are a big challenge.
I have decided to take up the matter with appropriate legal forums to see that you are prevented from going ahead with this proposal.
In the meanwhile you are requested to kindly forward me a copy of valuation report of P. Pattabiramen & Co, Chartered Accountants who has determined a fair value of the shares.
P P Zibi jose
Shareholder
=========================
As per my view fair value is above 400.
Dhruval Shah
(M)- 9898150967/8000133721(whatsup)
Mail id :- shahdhruval15@gmail.com
================================
Reed relays& electronics India ltd proposing to Cancel Non Promoter Holding @ 107 per share. Very Unfair Treatment to minority shareholders.
Book Value Rs 345
Cash and Bank Balance Per Share Rs 210
Dilip Surana
Mobile 09840278351
Mobile 09840278351
-----------------------.
OLD POSTS
Reed Relay - Shareholders Unite to Get Cancelled @ Compulsory Acuisition
Dear Sir,
I would like to invite Share holders of Reed Relay though this EFFECTIVE PLATFORM to protest against the company
I am holding just 212 shares and that to purchased not at very high price but to protect other shareholders and to protest AGAINST THE DADAGIRI OF THE PROMOTERS.
" I REQUEST THE SHAREHOLDERS TO VOTE THROUGH THE ELECTRONIC MEDIA ONLY i.e. though evoting only. Because it may happen that promoters intentionally do not put entry of the ballot in the inward register, may ask the post man not to deliver the same before the expiry date, may ,may , do any thing as they like . but if the same is done through " EVOTING" we have perfect record officially on the website .
i have yesterday voted through the evoting platform and is very easy to use the same.
IT IS MR. NARENDRA MODI WHO HAS PUT A SURGICAL STRIKE AGAINST THE BLACK MONEY NOW IT IS OUR TURN TO PUT SURGICAL STRIKE AGAINST THE GREEDY AND CHEATER PROMOTER WHO HAS USED OUR MONEY TO FLOURISH THE COMPANY AND WHEN THERE INTENTION IS OVER THEY THREW AWAY LIKE ANY THING.
JAGO SHARE HOLDER JAGO.
JAI HIND.
THANKS & REGARDS,
TUSHAR S AGARWAL
AHMEDABAD
M# 09824601977
-------------------------
I would like to invite Share holders of Reed Relay though this EFFECTIVE PLATFORM to protest against the company
I am holding just 212 shares and that to purchased not at very high price but to protect other shareholders and to protest AGAINST THE DADAGIRI OF THE PROMOTERS.
" I REQUEST THE SHAREHOLDERS TO VOTE THROUGH THE ELECTRONIC MEDIA ONLY i.e. though evoting only. Because it may happen that promoters intentionally do not put entry of the ballot in the inward register, may ask the post man not to deliver the same before the expiry date, may ,may , do any thing as they like . but if the same is done through " EVOTING" we have perfect record officially on the website .
i have yesterday voted through the evoting platform and is very easy to use the same.
IT IS MR. NARENDRA MODI WHO HAS PUT A SURGICAL STRIKE AGAINST THE BLACK MONEY NOW IT IS OUR TURN TO PUT SURGICAL STRIKE AGAINST THE GREEDY AND CHEATER PROMOTER WHO HAS USED OUR MONEY TO FLOURISH THE COMPANY AND WHEN THERE INTENTION IS OVER THEY THREW AWAY LIKE ANY THING.
JAGO SHARE HOLDER JAGO.
JAI HIND.
THANKS & REGARDS,
TUSHAR S AGARWAL
AHMEDABAD
M# 09824601977
-------------------------
OLD POSTS
November 15, 2016
Reed Relays @ Rs.107-Compulsory Buy Back- Shareholders Protest
ONE MORE COMPANY HAS BEEN ADDED TO THE GROUP OF COMPULSORY BUY BACK
THE NAME IS REED RELAYS AND ELECTRONICS INDIA LIMITED
THEY HAVE SENT THE POSTAL FORM THROUGH SPEED POST FOR PASSING THE RESOLUTION FOR COMPULSORY EXTINGUISHED THE SHARES OF MINORITY SHARE HOLDERS @ 107/-
PLEASE KNOW THE FACT
B.V 350+
DIVIDEND PAYING (FOR THE YEAR 15-16 DIVIDEND PAID RS. 1.6
SMALL EQUITY OF JUST RS. 1 ODD CRORE
PLEASE GUIDE ME AS I DONT WANT TO SURRENDER THE SHARES @ 107/-
TUSHAR S AGARWAL
AHMEDABAD
M# 09824601977
---------------
old post
THE NAME IS REED RELAYS AND ELECTRONICS INDIA LIMITED
THEY HAVE SENT THE POSTAL FORM THROUGH SPEED POST FOR PASSING THE RESOLUTION FOR COMPULSORY EXTINGUISHED THE SHARES OF MINORITY SHARE HOLDERS @ 107/-
PLEASE KNOW THE FACT
B.V 350+
DIVIDEND PAYING (FOR THE YEAR 15-16 DIVIDEND PAID RS. 1.6
SMALL EQUITY OF JUST RS. 1 ODD CRORE
PLEASE GUIDE ME AS I DONT WANT TO SURRENDER THE SHARES @ 107/-
TUSHAR S AGARWAL
AHMEDABAD
M# 09824601977
---------------
old post
November 18, 2016
Compulsory Buyback - Bad in Law - Are Anti Public Shareholders - Reed Relays Latest
OPPOSE COMPULSORY BUY BACK OF SHARES
Delisting may be OK .
But forced cancellation of Minority shares is not done even in Capitalism
Capitalism means Demand and Supply.
If the Majority wants the Minority 's shares then , to Quote from Mario Puzo 's Godfather " " They should make an offer we cannot refuse "
. Let them approach us and buy at a mutually agreeable price but not at a Dictated Price.
Free will transactions are the essence of Capitalism .
---------------------
OLD POSTS
October 27, 2016
Delisting may be OK .
But forced cancellation of Minority shares is not done even in Capitalism
Capitalism means Demand and Supply.
If the Majority wants the Minority 's shares then , to Quote from Mario Puzo 's Godfather " " They should make an offer we cannot refuse "
. Let them approach us and buy at a mutually agreeable price but not at a Dictated Price.
Free will transactions are the essence of Capitalism .
---------------------
OLD POSTS
October 27, 2016
Alfa Laval ( India ) Kicks Out Loyal Remainder Public Shareholders
Alfa Laval ( India ) has become the latest MNC to follow the example of Cadbury India, in compulsorily buying back the shares of Non Promoter remaining Loyal shareholders through a Court order.
The payment made is @ Rs. 4000/. same as was given four and a half years ago for voluntary buy back / delisting.
--------------------------------------------------
Alfa Laval ( India ) Limited Delisted on 19-04-12 at Exit Price of Rs. 4000 Per Share.Exit Window was available Till 18-04-13.
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January 18, 2011
Cadbury India Limited
We salute all those share holders of Cadbury India who are steadfastly giving their time and money in pursuing the High Court case against compulsory acquisition of shares from remaining minority share holders.
There are around 8,159 remaining non promoter shareholders who together own 2.42% stake in Cadbury India.
We strongly feel that Government of India and SEBI should amend the laws so that Companies using their " brute majority " are not able to " compulsorily " buy out minority shareholders at what they perceive to be the " fair value " . Delisting may be OK . But a High Court Order for selective share reduction ( of Non Promoter Share holders ) is a different matter altogether.
1 ) If a company wishes to buy back compulsorily then in the voting procedure the majority holder ( promoter ) should be debarred from voting . Only the small share holders should have the Right to vote on that particular Resolution .
2 ) As in the case of land acquisition , the Company should state valid reasons for acquisition of remaining shares ( In Cadbury 's case the remaining 2 odd % share holders can , frankly , in no way alter the Company 's policies.) Only a few more Annual Reports are to be despatched and a few more chairs at the AGM . ( Cadbury India Limited 's shares were delisted w.e.f 20-01-2003 )
3 ) There should be a soletium ( a premium over and above the fair value to compensate for compulsory buy out ) of 50 %
If the Company feels that the rate it is offering is " FAIR " then it should , also , be willing to offer to sell its entire majority holding at that rate . The minority share holders ( and other Indian share holders ) should have a Right of Pre emption at that " FAIR " rate. For example if Cadbury India Limited feels that Rs.2000 is a " fair rate " then Indian shareholders in general should be given an opportunity to form a SPV ( Special Purpose Vehicle ) Company which ( with suitable debt equity Leveraged Buy out ) and buy at the same rate the majority shares from the Promoters. A period of 6 months should be kept for giving this opportunity to Non Promoter Indian shareholders
However , we sincerely wish that Cadbury India Limited offers its remaining loyal share holders " Kuchh Meetha " and in New Year 's " Shubh Arambh " withdraws this move.
-----------------------------------------------------------------------------
http://www.rareindianshares.info/2013/05/corruption-is-there-in-indian-corporate.htmlhttp://www.suchetadalal.com/?id=175202d7-a5ce-be2f-492fe1477460&base=sub_sections_content&f&t=Essar%27s+Delisted+Saga
http://www.business-standard.com/india/news/cadbury-raises-buyback-price/421719/
http://www.moneycontrol.com/news/business/why-didn39t-you-give-fin-projections-to-ey-hc-asks-cadbury_562074.html
http://seekingalpha.com/news-article/1520805-cadbury-kraft-india-one-of-fastest-growing-operations-for-kraft-globally
http://rareindianshares.blogspot.com/2011/01/cadbury-quit-india.html
http://www.gauravblog.com/?p=1277
http://www.kraftfoodscompany.com/in/en/Brands/index.aspx
http://www.rareindianshares.info/2012/07/ecellent.html
http://altaisadvisors.com/blog/2012/07/08/cadbury-india/comment-page-1/#comment-1517
http://www.rareindianshares.info/2012/11/cadbury-india-or-mondelez-international.html
http://economictimes.indiatimes.com/personal-finance/savings-centre/analysis/small-equity-investor-how-to-safeguard-your-interests/articleshow/21742266.cms?curpg=3
There are around 8,159 remaining non promoter shareholders who together own 2.42% stake in Cadbury India.
We strongly feel that Government of India and SEBI should amend the laws so that Companies using their " brute majority " are not able to " compulsorily " buy out minority shareholders at what they perceive to be the " fair value " . Delisting may be OK . But a High Court Order for selective share reduction ( of Non Promoter Share holders ) is a different matter altogether.
1 ) If a company wishes to buy back compulsorily then in the voting procedure the majority holder ( promoter ) should be debarred from voting . Only the small share holders should have the Right to vote on that particular Resolution .
2 ) As in the case of land acquisition , the Company should state valid reasons for acquisition of remaining shares ( In Cadbury 's case the remaining 2 odd % share holders can , frankly , in no way alter the Company 's policies.) Only a few more Annual Reports are to be despatched and a few more chairs at the AGM . ( Cadbury India Limited 's shares were delisted w.e.f 20-01-2003 )
3 ) There should be a soletium ( a premium over and above the fair value to compensate for compulsory buy out ) of 50 %
If the Company feels that the rate it is offering is " FAIR " then it should , also , be willing to offer to sell its entire majority holding at that rate . The minority share holders ( and other Indian share holders ) should have a Right of Pre emption at that " FAIR " rate. For example if Cadbury India Limited feels that Rs.2000 is a " fair rate " then Indian shareholders in general should be given an opportunity to form a SPV ( Special Purpose Vehicle ) Company which ( with suitable debt equity Leveraged Buy out ) and buy at the same rate the majority shares from the Promoters. A period of 6 months should be kept for giving this opportunity to Non Promoter Indian shareholders
However , we sincerely wish that Cadbury India Limited offers its remaining loyal share holders " Kuchh Meetha " and in New Year 's " Shubh Arambh " withdraws this move.
-----------------------------------------------------------------------------
Compulsory Back Back of Shares- Violates Fundamental Right to Equality
Regarding the move , earlier of Cadbury India Limited and , now , by Shakti Met-Dor Limited :-
Compulsory Buy Back of Shares ( selectively from minority Non promoter Share holders ) is violative of Fundamental Right of Equality enshrined in the Constitution of India
Such a move creates two separate and unequal classes of Shareholders , i.e. Promoter Share Holders and Non Promoter Share Holders .
Please read this very informative Post :-
http://www.legalservicesindia.com/article/article/squeeze-out-of-minority-shareholders-1503-1.html
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For Shakti Met-Dor , please click :-
http://www.rareindianshares.info/2013/05/shakti-met-dor-compulsory-acquisition.html
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For Shakti Met-Dor , please click :-
http://www.rareindianshares.info/2013/05/shakti-met-dor-compulsory-acquisition.html
--------------------Regarding Compulsory Cancellation of Shares Moves by
Cadbury India Limited
Shakti Met-Dor Limited ((subsidiary of German giant Hormann Beteilgungs Gmbh )
------------------------------
Cadbury India Limited
Shakti Met-Dor Limited ((subsidiary of German giant Hormann Beteilgungs Gmbh )
------------------------------
.
http://www.business-standard.com/india/news/cadbury-raises-buyback-price/421719/
http://www.moneycontrol.com/news/business/why-didn39t-you-give-fin-projections-to-ey-hc-asks-cadbury_562074.html
http://seekingalpha.com/news-article/1520805-cadbury-kraft-india-one-of-fastest-growing-operations-for-kraft-globally
http://rareindianshares.blogspot.com/2011/01/cadbury-quit-india.html
http://www.gauravblog.com/?p=1277
http://www.kraftfoodscompany.com/in/en/Brands/index.aspx
http://www.rareindianshares.info/2012/07/ecellent.html
http://altaisadvisors.com/blog/2012/07/08/cadbury-india/comment-page-1/#comment-1517
http://www.rareindianshares.info/2012/11/cadbury-india-or-mondelez-international.html
http://economictimes.indiatimes.com/personal-finance/savings-centre/analysis/small-equity-investor-how-to-safeguard-your-interests/articleshow/21742266.cms?curpg=3
Good one. Thanks!
ReplyDeleteThanks for the article!
ReplyDelete