Grindrod Shipping: Minority Shareholder Buyout Proposal Might Not Pass [Seeking Alpha]
Grindrod Shipping Holdings Ltd. - Ordinary Shares (GRIN)
Company Research
Source: Seeking Alpha
The offer represents a 12% discount to estimated net asset value and an approximately 45% discount to controlling shareholder Taylor Maritime's $26 cash tender offer back in 2022. However, with Taylor Maritime not permitted to vote on the proposal, approval won't be an easy task. Singapore law requires a 75% majority of shareholders to pass a special resolution on a yet to be scheduled extraordinary general meeting which appears to be a Herculean task. With approval anything but certain and shares trading just 4% below the proposed buyout price, I would strongly advise investors to consider selling into the open market next week to avoid the risk of shares giving back all of Thursday's gains in case the special resolution doesn't pass. Looking for a helping hand in the market? Members of Value Investor's Edge get exclusive ideas and guidance to navigate any climate. Learn More » Note: I have covered Grindrod Shipping Holdings Ltd. (NASDAQ: NASDAQ: GRIN ) previously, so in
Show less
Read more
Impact Snapshot
Event Time:
GRIN
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
GRIN alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
GRIN alerts
High impacting Grindrod Shipping Holdings Ltd. - Ordinary Shares news events
Weekly update
A roundup of the hottest topics
GRIN
News
- Grindrod Shipping Holdings Ltd. Announces Results of the Extraordinary General Meeting Held on June 20, 2024 [Yahoo! Finance]Yahoo! Finance
- Grindrod Shipping Holdings Ltd. Announces Results of the Extraordinary General Meeting Held on June 20, 2024GlobeNewswire
- Grindrod Shipping Holdings Ltd. Announces Despatch of Circular and Notice of Extraordinary General Meeting to ShareholdersGlobeNewswire
- Grindrod Shipping: Still Not My Favorite Dry Bulk Stock [Seeking Alpha]Seeking Alpha
- XXII, GRIN and XTIA are among mid-day movers [Seeking Alpha]Seeking Alpha
GRIN
Sec Filings
- 6/20/24 - Form 6-K
- 5/28/24 - Form SC
- 5/14/24 - Form SC
- GRIN's page on the SEC website