What happens if i dont intend to inject more capital to SIA's rights issuance proposal? And how do i set about to ensure this?
I bought 100 shares of SIA in Jan 20. i have learnt that for beginners, owning ETF are better fit. I want to cut my losses - Refuse to inject more cash to maintain current % in company. Dont mind having my shares diluted- this will serve as a reminder to not invest in single stocks.
1) For the proxy voting paper mailed by SIA, should I tick 'against' for each of their proposal to issue more shares/bonds?
2) Will they mail out another form to ask for more cash - to which i should just ignore?
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Alvin Teo
25 Apr 2020
Aviva Relationship Consultant at Aviva Affinity Channel
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1) firstly you shouldn’t be just buying 100 shares, seeing you are a beginner, the brokerage fees alone may be a very high hurdle to cross before you start profiting. Meaning you buy $9/share, the first 2-3% gains is just for brokerage and that is a lot.
2) you don’t want to invest but SIA’s backers has strong intentions to see this rights issue go through. So you can tick ‘against’ using your 100 shares as voting rights but it’s not doing much.
3) if your intention is to cut losses, should do it when you want to do it, don’t time the market to go up again. Plus looking at how things are going it’s not hard to guess where it’ll go next.