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Somercourt Investments Ltd statement on Sino Prosper SG (0766)

Media release, 17-Jul-2013

Comment: Webb-site urges independent shareholders to vote against the transactions if and when shareholder meetings are convened. We consider the transactions to be blatantly unfair and unreasonable. The transactions once again illustrate a glaring hole in the Listing Rules by which companies can pay out cash to connected persons in the form of "deposits" for acquisitions which have not yet been approved by minority shareholders.

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