more reading from the Edge. now their share price is primed up, debt settlement duty is satisfied. I now believe they have charged their shares to creditors of which Scomi undertook to cover the margin on losses! Thank IJM! :)
have to keep Abu happy la! dont think Mahathir would want to see IJM only have a big say in scomimr when O&G tenders are won! aiseyy.... so easy to read them! :)
tonylim, its possible on herd mentality. but by right it should not because the announcement of exercise date is not even in effect and this is renounceble!
Ng KY, i dont think albukhary is involved in IJM. His flagship is MMC. and yes, he is confirmed Mahathir's blue-eye boy!
if the exercise is done, price should spike up, because it will leave scomi with cash, considering exercise of 1-for-5 at 45 sens! and Scomi is releasing 284mn shares X 45 sens. you do the maths on the cash holding thereafter!
Ng, hmmm.... possible. wont be surprise its albukhary behind the scene too. but a little awkward as MMC is also a construction giant! not impossible that albukhary is also gaining, cos MMC debt is soaring!
yup, submarine shares looks to be in the oasis of 45-46 sens then if this exercise is carried out. looks like concentration on scomi now, because the biggest investors are there!
the million dollar question now is, is this 127.8mn declared as extraordinary item? retained earnings? dare i say, special dividend coming? hehehe
everything is conjectural at the moment! no harm building castle in the air next two weeks! :)
This will fuel more upwards momentum for scomi group. I believe submarine has further potential for upwards movement as well...
Otherwise who will wanna buy submarine when there's no difference from open market? And that would mean scomi can't get the 128m cash flow for releasing submarine shares....
Honestly, the edge deserves to be spanked real hard ! Where in the world did scomi announce that they would be cancelling sale of the proposed disposals?
The edge title :- (they have disabled the copy and paste function for their articles...surprise surprise? if u want to see full article, assuming they haven't changed it follow kcloh's link)
Scomi cancels sale of units worth RM783.51m after share price surges
Bursa Announcement;- On behalf of the Board of Directors of SGB (“Board”), Maybank Investment Bank Berhad wishes to announce that after due and careful deliberation, the Board (save for Dato’ Sreesanthan a/l Eliathamby who has voluntarily abstained from deliberating and voting on the Proposals and Proposed Exemption)** has decided not to proceed with the Proposed Offer for Sale ** and in arriving at its decision, the Board (save for Dato’ Sreesanthan a/l Eliathamby) had taken into consideration the performance of SMB Shares during the period commencing from 24 July 2012, being the date of the announcement of the Proposals, up to 12 October 2012, being the last full trading day prior to this announcement, and the price of the SMB Shares to be offered pursuant to the Proposed Offer for Sale which was intended to be at a discount of not more than 10% to the issue price of the SMB Shares pursuant to the Proposed SOL Disposal of RM0.47 per SMB Share. �
Notwithstanding this, the Board will continue to evaluate proposals from time to time in the best interest of the Company and its shareholders.
****In respect of the Proposed Disposals, the Company will be seeking the approval of its shareholders in due course at an extraordinary general meeting to be convened.
Attention all Passengers. This is the Pre boarding call for Flight SGB 1668 to Moon. All the Economy class seats(below .40)are taken however we still have a few more Business class (.40.5 - .45) and first class seats(.455- 1.00) available and this will be on a first come ( or first buy :)) first serve basis. This will be our first and only historical man manned flight so please do take this opportunity to be the first few privileged (ahem! brag2)travellers. hehe
The offer for sell of Scomimr share to scomi group share holeder @ 0.45 is based on par value. I believe if end of the day the deal go throught, the share price offer to scomi group share holder of scomimr share will still have to base on average market trading price not as descript. @ 0.45 sen. Correct me if i m wrong
Selling pressure will continue...support 415... road block 435... will see how it goes and may re-enter.... if have chance can exit 1st... Me weak hard, hv to strictly follow my plan...if not later kena profit squeeze.
calling 红萝盘,still eat wind?is going to eat west north wind already lol
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Posted by KC Loh > 2012-10-15 18:59 | Report Abuse
wonder why not divesting scomien? hehehehe