Wednesday, March 3, 2010

Cash Offer: Ionics (I10)


References: SGX Delisting Document



Company Info:

Ionics EMS, Inc. is a provider of electronic manufacturing services. The Company is engaged in a range of printed circuit board (PCB) assembly specializing in surface mounting technology, flip chip on rigid boards, flex and glass assemblies, electronic sub-assemblies and full module assembly. It offers original equipment manufacturer and original design manufacturer services with product design and design support, new product introduction, industrial engineering and manufacturing system and integrated supply chain management. It has a central warehouse for third-party logistics and vendor-managed inventory control. The Company operates through four segments: computer peripherals, telecommunications, automotive and consumer electronics.

Offer Price:

$0.015

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3 comments:

Anonymous said...

friend still holding on to Ionics shares. how to sell it now since it is delisted? what can they do now?

Hoon Thien Rong said...

Not an expert in this but the following is what I found from Business Times

The shares of listed companies are held by the CDP. After a company delists, the CDP returns the company's share certificates to the company's share registrar, as instructed by the company.

The CDP then sends a letter to each shareholder in its records showing the number of his shares that have been returned to the share registrar for the issue of share certificates.

Delisted companies are required to issue share certificates back to shareholders within two weeks of their delisting.

More info: The share certs is proof that you owned part of the company. Ionics EMS was bought back by its parent company, Ionics, which I believed is still listed in Philippines.

To sell, it will probably be hard. Perhaps your friend can call his/her broker for suggestion on how to sell, probably to the parent company which bought back the share.

I also found a contact from Ionic website for Corporate Affairs @ http://www.ionicsgroup.com/corporate-governance.html

Judy Qua
VP-Corporate Affairs
judy.qua@ionics-ems.com

Might want to send an email asking for advice for selling the share of Ionics EMS.

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