What is the name of your state? California
I am not a US resident. But the case involves a US listed company, Trident (TMI). It used to have a 83% owned sub, Trident Technology (TTI), in Taiwan which had been disclosed in its financials per SEC's requirements. This former sub in Taiwan had been seeking IPO in Taiwan and had therefore been a public company in Taiwan with an aim to be listed. But its IPO attempt was later withdrawn due to slump market condition.
The details of the story are:
I have been investing on my sons behalf for a while. My sons had been the shareholders of TTI. The shares were later borrowed back by TTI thru Yo-Ming Chang, Sr. Deputy Mgr. of itsFinance Dept.. ( I still kept a borrowing slip issued by TTI). Mr. Chang intimidated us to give back the shares at NT$45 per share ,as opposed to over NT$120 previously traded on the gray market , on the basis that TTI would soon become a dept. of TMI and would not pursue IPO in Taiwan. If we were not to give back the shares, we would not be given any dividend nor capital gains because of the change in status of TTI. And TTI's profits would all be taken back by TMI. We were forced to give back the shares to him which made us suffer a lot in 2004. I still keep the passbook which shows clearly the refund from TTI for both of my sons.
We later heard that TMI intends to float the shares of TTI in the States. Due to some reasons however, TTI continued its improper practice of taking back shares from minor shareholders, maybe in anticipation of taking back all shares held by minority shareholders to satisfy IPO requirements in the States or for their own personal interests. A friend of mine was even approached to give back her shares at NT$150 per share at least 6 months after our shares were taken back.
Apparently, TMI/TTI are doing something which has been impairing the interests of the minority shareholders. I am not sure if this could be a case for you. If potentially yes, I am willing to line up more minor shareholders to give it a try. Your advice would be greatly appreciated.
Regards,
Rosie
I am not a US resident. But the case involves a US listed company, Trident (TMI). It used to have a 83% owned sub, Trident Technology (TTI), in Taiwan which had been disclosed in its financials per SEC's requirements. This former sub in Taiwan had been seeking IPO in Taiwan and had therefore been a public company in Taiwan with an aim to be listed. But its IPO attempt was later withdrawn due to slump market condition.
The details of the story are:
I have been investing on my sons behalf for a while. My sons had been the shareholders of TTI. The shares were later borrowed back by TTI thru Yo-Ming Chang, Sr. Deputy Mgr. of itsFinance Dept.. ( I still kept a borrowing slip issued by TTI). Mr. Chang intimidated us to give back the shares at NT$45 per share ,as opposed to over NT$120 previously traded on the gray market , on the basis that TTI would soon become a dept. of TMI and would not pursue IPO in Taiwan. If we were not to give back the shares, we would not be given any dividend nor capital gains because of the change in status of TTI. And TTI's profits would all be taken back by TMI. We were forced to give back the shares to him which made us suffer a lot in 2004. I still keep the passbook which shows clearly the refund from TTI for both of my sons.
We later heard that TMI intends to float the shares of TTI in the States. Due to some reasons however, TTI continued its improper practice of taking back shares from minor shareholders, maybe in anticipation of taking back all shares held by minority shareholders to satisfy IPO requirements in the States or for their own personal interests. A friend of mine was even approached to give back her shares at NT$150 per share at least 6 months after our shares were taken back.
Apparently, TMI/TTI are doing something which has been impairing the interests of the minority shareholders. I am not sure if this could be a case for you. If potentially yes, I am willing to line up more minor shareholders to give it a try. Your advice would be greatly appreciated.
Regards,
Rosie