Minority shareholder Pangolin Investment Management is "strongly" advising shareholders to reject Digileap Capital's "derisory" exit offer of S$0.56 a share for Challenger Technologies at an upcoming extraordinary general meeting.MINORITY shareholder Pangolin Investment Management is"strongly" advising shareholders to reject Digileap Capital's"derisory" exit offer of S$0.
Challenger also has a net cash position of S$63 million as at end-2018, which is about a third of its market capitalisation. For its full year ended Dec 31, 2018, the retailer's net profit rose 22 per cent to S$19.5 million, on the back of a 1 per cent dip in revenue to S$320.2 million. It has no debt due this year.
Pangolin added that Challenger's dividend payout has been around 50 per cent for many years, despite its low capital expenditure requirement. The Pangolin Asia Fund is a long-only, bottom-up, long-term investor in Southeast Asia, that according to its manager, has generated an annualised return of more than 11 per cent over the past 14 years.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: TODAYonline - 🏆 1. / 99 Read more »
Source: YahooSG - 🏆 3. / 71 Read more »
Source: BusinessTimes - 🏆 15. / 51 Read more »