It looks like the plot has thickened for China Minzhong Food shareholders.
Yesterday evening, China Minzhong released a refutation of the allegations made by Glaucus Research. You can download their response below:
China Minzhong Response to Glaucus Research (Annex A-D)
China Minzhong Response to Glaucus Research (Annex E-F)
China Minzhong Response to Glaucus Research (Annex H-K)
While it might be difficult for an outsider to decide whether Glaucus is correct or wrong in their allegations, there might be a rainbow at the end of the tunnel for existing China Minzhong shareholders.
This morning, China Minzhong has asked for a trading halt for their shares pending a possible takeover offer from one of their largest shareholder, Indofood.
The letter from Indofood read as such:
Shareholders of China Minzhong will have an anxious day waiting for the outcome of whether any takeover offer materializes and if so, at what price.