Good Articles to Share
DNeX Zoom meeting takeaways (17-Nov-22)
HLIB: 'Worst-case scenario' for DNeX priced in after Thursday’s heavy sell-off
- DNEX still owns 60% of Silterra
- ICPS was the instrument for future funding - not for the current 60% holding. The ICPS has not been issued hence CGP has no right to subscribe the additional shares.
- Arbitration - to protect the manufacturing license (refer to announcement). To resolve the different opinions from both parties.
- Silterra's operation & expansion is on track.
-
Alternative Funding
- Silterra (strong cash position)
- DNEX group’s level (strong cash position)
- Management opine it won't affect LTA with GCP. LTA was done professionally.
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1 person likes this. Showing 3 of 3 comments
CGP would not want to have a SilTerra minus the licence
Good sense will prevail sooner rather than later
CGP will back off
2022-11-18 14:17
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Key facts:
1. ICPS has not been issued by DNeX Semi, so CGP has no right to subscribe for additional ordinary shares
2. SilTerra is and must always be 55% Malaysian owned, dispute will not result in favorable outcome for foreign parties trying to wrestle controlling stake purely for economic purposes
3. Last resort, CGP is more than welcomed to sell their 40% stake in SilTerra. Many others especially Foxconn waiting desperately in queue.
4. Most sellers today were retailers, institutions pop up to acquire DNeX shares at attractive prices
5. Cancelling LTA by CGP may result in huge penalties payable by CGP, but more than welcome if they do so. Free money for SilTerra + capacity can be better used for Foxconn for EV ambitions
2022-11-17 19:10