Today got to know why Adampak was halted.
Adampak Limited’s shareholders were on Monday offered 42 Singapore cents for each of the shares they hold in the Singapore-listed manufacturer of high performance labels, seals and other precision die-cut components.
Private equity firm Navis Capital Partners, through Safe Label Group Pte Ltd, intends to make Adampak a privatised wholly-owned subsidiary.
‘The privatisation of Adampak will allow it to save on additional expenses relating to the maintenance of its listing status and focus its resources and capital on business operations,’ it said.
The offer price represents approximately a 22 per cent premium over Adampak’s last traded price of 34.5 cents apiece.
Damn. And I haven’t even collect one dividend and it ran up 55%. Adampak is a good business. It does labelling for hard disks and other industries. It is net cash, offers 10% yield and rewards shareholders well.
The worst thing is that I am still in the midst of doing slow accumulating. Goes to show that conviction is something that you sometimes lack. When you see it, you don’t dare to take action.
Uncle Create Wealth is right. Some of us just have no balls.