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ADDITIONAL INVESTMENT IN WHOLLY-OWNED SUBSIDIARY – COLBEN SYSTEM PTE. LTD.
Further to its announcement on 4 January 2008, the Board of Directors of Asiatic Group (Holdings) Limited (the “Company”) wishes to announce that it had further increased its investment in its wholly-owned subsidiary, Colben System Pte. Ltd. (“Colben”) with an additional amount of S$5,000,000.00 comprising 5,000,000 fully paid-up ordinary shares. Following the aforesaid increase in investment, the issued and paid-up capital of Colben is increased from S$5.0 million comprising 5.0 million fully paid ordinary shares to S$10.0 million comprising 10.0 million fully paid ordinary shares. The increase is to ensure that Colben is appropriately capitalised for its operations and projects.
The addition in investment is funded from a combination of the proceeds from the zero-coupon Convertible Bonds, proceeds from the warrants conversion and internal sources.
None of the substantial shareholders and/or directors of the Company have any interest, direct or indirect, in Colben other than through their respective shareholdings in the Company.
By Order of the Board
Tan Sian Leong
Company Secretary
Can any professionals advice on the part in bold? Seems quite confused as it sounds like company with low paid-up capital not capable of taking on big projects or something? Thanks in advance.
| 09:42:38 | 0.125 | 100,000 | Buy Up |
| 09:41:43 | 0.125 | 50,000 | Buy Up |
So far only one trade at 0.12, fishing out contra players, should move up soon. Vested
| 09:31:15 | 0.125 | 91,000 | Sell Down |
| 09:28:38 | 0.125 | 9,000 | Buy Up |
| 09:28:38 | 0.125 | 20,000 | Buy Up |
| 09:28:36 | 0.125 | 21,000 | Buy Up |
| 09:28:12 | 0.125 | 30,000 | Buy Up |
| 09:27:10 | 0.125 | 50,000 | Buy Up |
| 09:24:07 | 0.125 | 20,000 | Buy Up |
| 09:22:58 | 0.125 | 50,000 | Buy Up |
| 09:02:48 | 0.120 | 70,000 | Sell Down |
| 09:01:52 | 0.125 | 170,000 | Sell Down |
| 09:01:05 | 0.125 | 50,000 | Sell Down |
| 08:59:01 | 0.125 | 200,000 | Sell Down |
I have vested quite heavy in this counter... will continue to accumulate more also...
May want to accumulate a little more on weakness since double revenue for FY09. No need 99 yrs.. can retire in 5 yrs' time ..wait for it to dual list in Cambodia some day..hehe
good question. The latest contract is 99 years, sounds like a joke, can last us till the day we die..haha. I will check out with them at the coming AGM...I have my agenda ready hehe....
hmm ani idea how will it go in long term?
My guess this time: take a look at last friday's activity, volumes surged to over 7 million, with 2 trades being large buy ups of 1 million and 4 million respectively. The price for all of friday's trade was 0.125. Yesterday was T+3 for trades done on friday. Force selling takes place on T+4 which is today. Since Monday, price was at least at 0.13. So no surprises that there is force selling today as people might not want to take delivery of their shares. They might as well just close off their positions and take profit (without actually paying for the shares) i.e. contra trading.
Thanks all. Profits taking ?
Request for warrant exercise forms from the Co registrars (Boardroom - see attached), fill it up, buy a cashiers order for the exercise price and submit. Process takes about 2 - 3 weeks. You can check with Boardroom.
http://info.sgx.com/webcorpinfo.nsf/revamp+new+company+info+classified+by+name+all/1N86?opendocument
smartrader ( Date: 25-Jun-2008 22:15) Posted:
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I am not too sure about how to exercise the warrants. But the ex-dividend date is 6 Aug. So this week or next week should be able to get the dividend.
Asiatic Group Wed said it's been given a power supply contract in Cambodia that could be worth up to US$475 million over 99 years.
Asiatic, in a statement, said it will supply power to the Phnom Penh Special Economic Zone. The contract is expected to add US$4.8 million a year to the company's revenue once the power plant is fully operational by 2009.
The project will be undertaken by Asiatic's energy arm, Colben System.
Terence, how can i exercise my warrants ? Can i make it for the dividend if i exercise this week or next week ?
Haha, maybe other people have also read it and have benefited too. Just that they never post here.
Thanks to you ..we did the right thing to have faith in the business and management... seem like only you and me in this thread..haha
The time has come...haha. Congrats to all who followed this thread since it started.
My guess...remember the MOU signed with Lao Cai Mineral Co. for an initial capacity of 1MW of hydro electricity? Maybe the have signed a joint venture agreement. Or maybe people buy because of the attractive dividend for penny stock.
What can really be good news for shareholders ? Strategic investor or contracts ?
Two large buy ups today at $0.125 , one trade was 4 million shares, the other was 1 million shares. Something brewing?
Nothing at the moment. Anyway, FY 09 will have double revenue from power, due to capacity from 15MW to 30MW. Dividend yield is good for a penny stock, my mother got some at 0.08 so her yield is 9.375%. Better than my Second Chance hehe...:)