Wednesday 19th October 2016
Open letter to the board of Ming Fai (3828) from David Webb
Webb-site founder David Webb owns almost 10% of Ming Fai and calls for a special dividend of at least $0.352 per share to reduce net cash to not more than HK$300m (34% of net assets) after the sale of the investment property, which we support. Ming Fai has a strong core business, but if the current board, which holds 33% of Ming Fai, doesn't do the right thing then we will nominate directors who will. (19-Oct-2016)
RECENTLY ON WEBB-SITE
LegCo - who's got religion?
There were 19 oath-taking Christians in last week's LegCo swearing in, 7 non-religious oaths, and 44 affirmations. So who believes in a higher power than Beijing? (16-Oct-2016)
IN OTHER NEWS
GEM Listing Committee censures Mr Mei Ping, ex-China Nonferrous Metals (8306)
Jete Power (8133): we have 2 co-Chairmen but 1 of them is Chairman
Company announcement, 14-Oct-2016
This follows a complaint by Webb-site to HKEX that the company's articles of association only allow for one Chairman. Now they are proposing to amend the articles to allow co-Chairmen.
And much more besides...
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