soon9913 if not list SG unit, where got money pay the RM260mil?
AS per Prospectus...If cash option RM235M only, discount RM25m, to be funded by bank borrowing and/or internal generated funds.. This is the best option , no dilution on earnings !!
They had earlier paid 23m deposit, 157m is to be paid after EGM (22.05.18) thats tomorrow !! Thereafter each month 10m for follwing 5 months and lastly 5m Retention Money Aggregate purchase price : 235m (A Bargain price !)
Given that approval from SG is not granted yet, I believe they have arranged with lenders to disburse the 157M to the vendors TOMORROW as per agreement !!
31.12.17, bank balance is RM1mil even plus the private placement is only RM23mil which is far away from The target amount.... Balance sheet is so so, hopefully the bank is able to give loan Rm200mil which I think is unlikely....
Right issue is old news, it was already proposed mths ago, but just approved last week. Today’s is panic selling when the mkt is on downtrend. Stay calm, will rebound tomorrow..
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soon9913
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Posted by soon9913 > 2018-05-21 16:19 | Report Abuse
if not list SG unit, where got money pay the RM260mil?