Destini Berhad ("Destini") had on 24 December 2012 indirectly acquired 51% shares in Vanguard Composite Engineering Pte Ltd ("Vanguard") through its wholly owned subsidiary, Destini Armada Pte Ltd. Vanguard is Singapore's leading manufacturer of lifeboats, fast rescue boats, davit systems and a host of other safety equipment for the marine and oil and gas industries. They are also the world's only lifeboat manufacturer that builds self-propelled hyperbaric lifeboats, a product that brings safety and survival of divers a notch higher. Vanguard's manufacturing facility is housed in a 20,000 sqm wholly owned state-of-the-art manufacturing facility in Nantong, China. The factory has the capacity to manufacture about 200 boats per year. On average, the factory had produced about 120 boats annually for the last 3 years. The production volume is expected to increase in 2013 and beyond in view of the recently launched Self-propelled Hyperbaric Life Boat (SPHLB) and the increasing demand of its products from the oil & gas industry.
DESTINI - NOTICE OF BONUS ENTITLEMENT Bonus issue of 242,000,000 warrants in Destini Berhad ("Destini") ("Warrant(s)") on the basis of two (2) free Warrants for every three (3) existing ordinary shares of RM0.10 each in Destini held at 5.00 p.m. on 30 September 2013.
Kindly be advised of the following :
1) The above Company's securities will be traded and quoted [ "Ex - Bonus Issue" ] as from : [26 September 2013 ]
2) The last date of lodgement : [30 September 2013 ]
Name is bonus warrant, but ex-bonus ur share also readjusted lah.....
Next week, market might be red massive selling....cannot say 100%...but most likely some mild selling....if u buy 0.4++ u might be trapped for some time
why u said next week be massive selling ? From TA or FA point of view ? I don't understand since our prime minister announced positive news to improve our economic, our government will borrow more money and dump into market. And our EPF fund were keen to support as foreign fund throw. This will be a sign to stable Malaysia market . Right ?
Agree don't take too much risk at current price. If price dropped significantly to 38 support w/o breaking thru' just before ex-date can bull some, since warrant is free. Use this leverage to make some money as the company is in oil & gas, a current sunshine sector.
Based on some recent free warrants issue, it seems to always up on announcements of rights issue...but than 1-2 days Nina...then start to downhill until ex date
Just my opinion - at the current price, probably it has already factored in the news on the free warrants. However they may still be some upside. Just be a bit cautious. At the end of the day it all depends whether those people still want to "push". Whilst we can take the performance of Instaco as a guide, each and every stock has its own uniqueness !
On behalf of the Board, RHB wishes to announce that the Company has on 12 September 2013 fixed the exercise price for the Warrants to be issued pursuant to the Bonus Issue of Warrants at RM0.40 per Warrant.
Does that means that if the price is above 40cents , we will be having a discounted warrant?? So , why not keep making the price fly high to earn from both portion, capital gain + discounted value ?? buy buy buy :)
As I mentioned earlier, this is almost the situation as in Instaco ! Just imagine - the mother share price is only 40 sen and the conversion price is also 40 sen ! Look at Instaco now !
Sephiroth, yes I did mention that every stock has its own uniqueness but just to wish to point out to use Instaco as a guide since that was the latest counter to issue free warrants. Look at the scenario, before ex-date Instaco's share was at say 40 sen. So 2 lots is 80 sen. Now it's only 26.6 sen. So lots is 53 sen. 1 warrant is now say 10 sen. Total 53 sen. So if one has purchased 2 lots of Instaco at 40 sen before ex, he is losing 17 sen now !
inwest88, wat i meant was.. theoretically bonus warrant wont affect the price of the share on the cum day itself, but the movement after the cum date will depends on the potential of the share itself...
A I am not an expert thus not in a position to give advice but just an my view. Nevertheless Destini is an O&G company and apparently has some new business. So it all depends on how you feel about the company. Perhaps you may like to seek some expert advice form you stock broker or any other finance people. All the best.
PROPOSED ACQUISITION BY DESTINI OF THE ENTIRE ISSUED AND PAID-UP SHARE CAPITAL OF SAMUDRA OIL SERVICES SDN BHD FROM KEJURUTERAAN SAMUDRA TIMUR BERHAD FOR AN INDICATIVE PURCHASE CONSIDERATION OF RM80.00 MILLION TO BE SATISFIED ENTIRELY VIA THE ISSUANCE OF NEW ORDINARY SHARES OF RM0.10 EACH IN DESTINI
i think today their price will go to 0.41 - 0.395 bcos klse not stabil... on ex date it will go 0.42... after ex date it will go back 0.40-0.375 play safe.... don't put all your money tis counter...
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lola88
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Posted by lola88 > 2013-08-20 09:38 | Report Abuse
ya kaaa? really aaaa?