Creative Technology shares jumped[0] by 25% after the news. Can anybody share more on the reasoning? Was he being seen as a founder who was holding the company back?
i wouldnt read too much into it. it's now a $100m market cap, basically a penny stock. at that level any media mention leads to random spikes from boiler room types
edit: browsing a bit turned up this thing:
> According to the company’s most recent annual report, for FY2022 ended June, Sim held 33.1 per cent of Creative. He was also the only substantial shareholder.
> The Singapore Code on Take-overs and Mergers requires anyone acquiring 30 per cent or more of the voting rights of a company to extend an offer for all other shares in the company.
edit: browsing a bit turned up this thing:
> According to the company’s most recent annual report, for FY2022 ended June, Sim held 33.1 per cent of Creative. He was also the only substantial shareholder.
> The Singapore Code on Take-overs and Mergers requires anyone acquiring 30 per cent or more of the voting rights of a company to extend an offer for all other shares in the company.