The financial investor also emailed No Signboard’s representatives for information on the bank’s debt, the standing of its court cases, and whether it intends to file a rights lawsuit.
When a business grants existing owners the opportunity to purchase more shares of the business, it becomes a right issue.
” You need money ( for your ) big plans… but we do n’t know what’s your plan to fund your acquisitions”, said the retail investor.
” Since Offering, I have been holding on to the communicate. Post ( share ) consolidation, everything is peanuts already. I may say current owners have lost anything. How can you assure me that if there is a right matter, I can give you more money when I leave?”
No Signage declined to confirm whether the work has a right matter. But Mr Lim, who is also a producer of white warrior Gazelle Ventures, appealed to owners to “have some trust”.
” What we’ve done is we took a leap of faith. We’ve put a lot of money into this business, and we’re now in the same place as you,” the interval CEO said.
” We also want to see our money increase, from an individual’s point of view. So please have some confidence – hopefully, you can trust us that we will endeavour ( for ) the money we put in, and your money that you’ve invested thus far, ( to ) recover value”.
Queries Keep
Another financial buyer expressed concern about No Signboard’s present “horrible situation” and what went wrong with it.
Mr. Lim responded that none of the company’s current representatives were in charge prior to the business suspension.  , Furthermore, he is unable to provide a clear solution but in his view, the firm was” never properly thought away, not effectively run and not properly funded” then.
The financial investment, who just wanted to be known as Mr. Ho, told CNA that many investors may be interested in finding out how things turned out. No Signboard is a family name brand whose roots can be traced to the 1970s , when it first started as a hawker kiosk at Mattar Road.
He continued, adding that Jumbo Group, another Singaporean restaurant chain, had performed also after going public in 2015.
” I think many people thought ( this will ) be the same”, said Mr Ho, who is in his 50s.
For Mr Loke, who holds about S$ 3, 000 fair of No Signboard stock, said he has questions about the company’s future programs which seem focused on acquiring more F&, B companies.
Given the F&, B industry’s substantial operating costs, particularly for brick- and- concrete ones, these new acquisitions may get a long time to breakeven, he reasoned.
Besides, the six- month embargo for the white warrior trader is very small.
” How can you discover a treatment in six months? What if that buyer even leaves, and you are up to circle one”? said Mr Loke, adding that it would have been more convincing if the business had more “reputable” shareholders on board.
Mr Loke said this reminded him of his other failed purchase, albeit a smaller amount, into today- former water treatment firm Hyflux.
” From what I’ve heard, I’m not going to invest any more money right now ( if there are rights issues ).” But I ca n’t sell because that will be as good as gone”, said the retail investor. ” I will just wait and see”.