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Windfall from Citiraya
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adeline
Member |
16-Jul-2007 13:27
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x 0
x 0 Alert Admin |
strong buy at least near the conertible bond price 35.5 next few weeks.worst is over when mkt corrects it came down from 29cts will test new high,Another jade | |||||||||||||
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chloecleo
Member |
16-Jul-2007 12:38
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x 0
x 0 Alert Admin |
hi all, may i know what's the TP for Equation? thx a million~ |
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ryantka
Member |
16-Jul-2007 11:38
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x 0
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Hi explicit, Equation holds about 31% of Centillion's shares currently, making Centillion its subsidiary. If i'm not wrong, Equation paid $0.008485 per share for Centillion's share (948,724,172 ordinary shares in the issued and paid-up share capital of CIL at the aggregate subscription price of $8.05 million.) It recently sold 150 million shares of centillion's shares to McPeekay Consulting Group at $0.09 per share for a profit of 1000 %. (Good news for Equation, bad news for Centillion). The company has been effective in reducing its losses and its investment in Solar Morph is in my humble opinion a good move as global demand on energy is on the rise and crude oil looks set to become more and more expensive, forcing people to turn to cleaner energy like solar, etc. personally, i feel that the management is good in timing its investment, many people (including me) frown when it invested in citiraya, but it has shown today that its move was right, (centillion is worth 21 cents per share as of now at market price) an uptrend seems to be building up for equation today. |
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Explicit
Member |
16-Jul-2007 10:05
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thinking of entering today. anyone else monitoring this stock? and what is equation's relationship with centillion? | |||||||||||||
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chunshyang
Member |
12-Jul-2007 23:34
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x 0
x 0 Alert Admin |
ya throw untill flat face
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ryantka
Member |
12-Jul-2007 23:26
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x 0
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EQUATION CORP LIMITED (Co. Reg. No. 197501110N) EXERCISE OF CALL OPTION TO PURCHASE SHARES IN CENTILLION ENVIRONMENT & RECYCLING LIMITED ("Centillion") 1. The Company refers to its previous announcement on 26 June 2007 relating to the Call Option Agreement entered with McPeekay Consulting Group (the ?Grantee?). 2. The Board of Director is pleased to announce that the Grantee has today served a notice on the Company to exercise his call option to purchase 150 million ordinary shares in Centillion at S$0.09 each. 3. The completion of the transaction is expected to take place on or before 25 July 2007. 4. The Company?s shareholding in Centillion will be reduced to 31.57% from the current 37.50% due to the above transfer. \ any comments? |
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ivorycoast
Elite |
09-Jul-2007 11:16
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x 0
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Don't short too much here hor ..... Equation seems to like to squeeze shortists hor ..... |
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superboy
Member |
05-Jul-2007 15:11
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x 0
x 0 Alert Admin |
It seems that it is a bad news afterall.... everyone is dumping Equation now....throw and throw.. |
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tancc79
Member |
05-Jul-2007 13:58
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x 0
x 0 Alert Admin |
Hi there, Can all of us post in a new thread I started at http://www.sharejunction.com/sharejunction/listMessage.htm?topicId=3534 Since it is a "brand new start" for Equation Hope this baby allow me to cover my contra loss from Xpress :> |
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zhuge_liang
Supreme |
05-Jul-2007 13:44
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SolarMorph has already secured a 3-year off-take agreement worth US$120 million.
Thin film amorphous silicon technology is one of the latest initiatives in harnessing solar power using a fully automated manufacturing process and enhancing delivery in terms of lower costs and increased reliability. Thin film amorphous silicon technology uses 3-5x less energy and use less than 1% of silicon than the traditional crystalline technology, which is currently being used by solar panel manufacturers. |
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zhuge_liang
Supreme |
05-Jul-2007 13:39
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x 1
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Singapore is set to launch its first solar panel manufacturing plant using
Equation through its newly-acquired subsidiary Solar Morph Pte. Ltd., a Singapore-registered company will undertake the construction and operation of the plant in Singapore, commencing with establishing a 20MW manufacturing line by mid-'08 and continue to expand to its full 60MW annual capacity by '10.
Under its investment agreement with SolarMorph, Equation will take an initial stake representing 69.6% of the voting rights in SolarMorph with an initial investment of $15.5 million.
The bond will be used to partially fund this initial investment. Solar energy has great potential. So this is positive. Equation is following Rowsley. |
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tancc79
Member |
05-Jul-2007 13:27
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x 0
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Dear all, Any comments on the bond issue ? http://info.sgx.com/webcorannc.nsf/ef3ba6cb188613ea482571b2003641d3/8130c0b4606dc8514825730f0017f16b?OpenDocument (A) INVESTMENT IN SOLAR MORPH PTE. LTD. ("SOLAR MORPH") (B) ISSUE OF NON-REDEEMABLE ZERO COUPON CONVERTIBLE BONDS OF UP TO S$13,500,000 PRINCIPAL AMOUNT CONVERTIBLE INTO, INTER ALIA, SHARES IN THE COMPANY AT A CONVERSION PRICE OF S$0.355 PER SHARE |
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novicetrader
Senior |
04-Jul-2007 16:29
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x 0
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Really cannot understand. Let go yesterday at 0.27. Saw declining volume for past few days. Today rose to 0.295 at a high, and the volume came right back. However, better safe than sorry. Money in pocket. Kiasu syndrome. Good luck to all those still vested. Hope you make $$$. 
I am contented with what I have pocketed. |
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Manikamaniko.
Master |
04-Jul-2007 13:03
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x 1
x 0 Alert Admin |
The stock market is indeed a bizarre place!...
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superboy
Member |
04-Jul-2007 10:57
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x 0
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Actually i don't quite understand why many people buy this counter and the price is going up. Equation is formerly called Heshe and it was making a loss for many many years. And just 1 to2 years back, it change its name to Equation and buy lousy company like Centrillion (Citiraya). Equation could not even save itself and yet it buy another losing firm... Many customers of Centillion is going to sue Centillion. See below. Citiraya rescue plan set to fail
Citiraya Industries, the electronic waste recycler, has hit the headlines once again. What is one to make of the latest developments? The company has been in the news since January, when the Commercial Affairs Department (CAD) moved in to investigate. Since then, the Corrupt Practices Investigation Bureau (CPIB) has also become involved and a number of people have been charged with corruption and misappropriation of company funds. Meanwhile, Citiraya has its own probe going on, with corporate restructuring expert Nicky Tan as an independent investigator and financial adviser. A key rescue effort by Venture One, which had the involvement of well-respected entrepreneur Koh Boon Hwee, pulled out in May this year, saying the due diligence exercise had not worked out well. Citiraya then obtained a court order to hold back any winding-up moves by creditors, saying 11 investors were interested in equity stakes in the company while four investors wanted to buy some of its assets. Nothing concrete emerged in the following months. Meanwhile, Citiraya proposed a scheme of arrangement to restructure and reduce its debts. That scheme had to be called off when certain creditors rejected it and DBS Bank moved to wind up the company, which owes it about $38.6 million. Early this month, Citiraya proposed to file for judicial management, saying it would be better for all parties than a winding-up process. It maintained that its business of electronic waste recycling was viable and said there were three credible investors interested in buying stakes. Nothing substantive has emerged from these European and Malaysian investors. Instead, we heard that chip giant Advanced Micro Devices (AMD) had filed a writ of summons late last month to claim up to US$250 million ($420 million) from Citiraya for irregularities in the handling of its materials in the past. This is a huge sum. The latest rescue plan emerged a few days before the court hearing of Citiraya's judicial management proposal today. Chip Lian, the investment vehicle of tycoon Oei Hong Leong, and publicly-listed Heshe Holdings are proposing to inject $10 million each into Citiraya for working capital. They will have the option of investing a further $10 million each within one year of the initial investment. The interesting thing is that the two investors will receive 1.9 billion new shares in exchange for their combined $20 million investment. This means the shares are valued at just over one cent per share. That is a far cry from Citiraya's last traded price of $1.08 per share before trading was suspended in January this year. The two investors have the option to buy more shares in Citiraya at just over one cent per share. The point here is that shareholders of Citiraya have to write down their investment to this level, as that is the price investors are now prepared to pay for Citiraya shares. Citiraya will become a penny stock, if trading in its shares ever resumes on the Singapore Exchange. Will this takeover bid succeed, considering that various schemes so far this year to put Citiraya on a more stable footing have failed? The short answer is that the latest scheme is set to fail as well. There are too many negative factors working against it ? too many unknowns. The creditors want their money back but the new money being put in by the investors will be needed for working capital. Secured creditor UOB yesterday filed an application to seize two of Citiraya's factories, and intends to oppose the company's proposal for judicial management. Other creditors like DBS Bank may also not support the rescue scheme, if there is no clear and acceptable time-table for repaying Citiraya's loans in full. The CAD and CPIB investigations are still ongoing and once they are concluded, there could be further negative impact on the company and its employees. More clients and employees could desert Citiraya. The AMD writ of summons against Citiraya is also a huge cloud hanging over the company. Other clients who were shortchanged, like Seagate, 3M and ST Micro, may also sue Citiraya. Claims against Citiraya as well as loans outstanding are estimated to be well in excess of $400 million, versus the $20-million injection of new funds proposed by Chip Lian and Heshe. Finally, the Chip Lian/Heshe deal seems a rushed one ? due diligence has not been carried out. Heshe has claimed that it has the money to save Citiraya but Heshe itself does not have a track record to boast about, having been itself rescued not too long ago. The proposed takeover could unravel as quickly as it was put together, if more dark clouds emerge over Citiraya. - TODAY/sh |
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novicetrader
Senior |
03-Jul-2007 13:29
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x 0
x 0 Alert Admin |
Thank you for the advice. Will not take the risk on this counter. Have cashed out. | |||||||||||||
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simonxda
Member |
02-Jul-2007 21:27
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x 0
x 0 Alert Admin |
Just be caution when trading this one or Centrillion.. Heart attack stock..
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novicetrader
Senior |
02-Jul-2007 21:16
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x 0
x 0 Alert Admin |
I believe something is cooking. This counter has been dormant for quite a while, very thin trading. Then it became alive, and the price almost doubled. And for the past few trading sessions, the volume is enormous. It dropped a few cents to $0.24 and it went back again on very high volume. Does anybody know something specific about this counter? |
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whaley
Member |
30-Jun-2007 13:56
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x 0
x 0 Alert Admin |
Intresting counter, VERY HUGE volume for the past few days.. any 1 knows what happen to this counter? |
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zhuge_liang
Supreme |
30-Jun-2007 12:42
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x 0
x 0 Alert Admin |
Rose on speculation about the entrance of a new strategic shareholder. | |||||||||||||
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