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Digiland
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teeth53
Supreme |
18-Sep-2007 08:45
Yells: "don't learn through life, learn to grow with life " |
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NO other value left, oni value left is zero value 0.000 ???. cannot have 0.0025ct lehh. |
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Pension
Elite |
18-Sep-2007 00:47
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i dun know should i wait at 0.005 or not? |
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jackjames
Elite |
17-Sep-2007 23:34
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count me in, if it drops to 0.005 |
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teeth53
Supreme |
17-Sep-2007 18:59
Yells: "don't learn through life, learn to grow with life " |
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Back to sq one (1) or 0.010 cent or 0.005 cent ??? |
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terry138
Member |
17-Sep-2007 16:20
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waitng for 0.01 to jump on it ! very good deal ! good luck. |
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novena_33
Veteran |
17-Sep-2007 14:11
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anyway....i q some at 0.5c ...... 
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loyfam88
Senior |
17-Sep-2007 14:04
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Me too : ( Holding 300 lots and breakeven around 0.055 level! As Vincent is the substantial shareholder, I really wonder what is the implication on digiland. I hope it's not like the sole proprietor story. Also, there was talks of reverse takeover in June this year. There were talks at that point that this should happen by year end. Maybe that is the only hope for revival of situation. ******************************************************************************************************** MEMORANDUM OF UNDERSTANDING FOR ACQUISITION OF ASSETS Introduction The directors of Digiland International Limited (the ?Company?) wish to announce that on 27 June 2007, the Company entered into a non-binding memorandum of understanding (?MOU?) with Vincente Holdings Pte Limited (?VHPL?). The MOU represents the good faith intentions of the Company to proceed with further negotiations in respect of the possible purchase by the Company of one or more real properties in Singapore being prime land available for redevelopment (the ?Properties?) which VHPL intends to acquire from a third party or third parties (?Third Party?) which do not have any interest in the Properties. The acquisition of the Properties may be made indirectly by the acquisition of the entire issued share capital of the company owning the Property ("Sale Shares") and/or by a direct acquisition of the Properties themselves. In addition, the MOU also sets out the understanding of the parties on the continuation or disposal of the existing business of the Company in the event that the Properties are acquired by the Company and VHPL becomes a controlling shareholder of the Company. Rationale for the MOU The current trends in the property market in Singapore are positive and subject to the approval of shareholders, the Company intends to take this opportunity to enter into the business of property development and investment and should it acquire the Properties or the Sale Shares, contemplate the disposal of its existing business or its continuation as a separate business group. VHPL has been incorporated for the purpose of acquiring various properties for development and investment. In the event that VHPL is successful in acquiring the Properties, VHPL seeks to inject the Properties into the Company as the Company's shares are listed on the main board of The Singapore Exchange Securities Trading Limited ("SGX-ST"). The Company and VHPL wish to explore the various possible transaction structures by which VHPL could inject the Properties which it is able to acquire into and for the Company to acquire the Properties or the Sale Shares in consideration of the issue of new ordinary shares in the Company ("Shares") to VHPL, and the continuation or disposal of the existing business undertaking of the Company in the event the Properties and/or Sale Shares are acquired by the Company and VHPL becomes a controlling shareholder of the Company. Salient terms of the MOU Consideration The consideration for the Sale Shares and/or the Properties will be agreed between the Company and VHPL (based on an appropriate valuation including but not limited to a valuation in respect of the Properties provided by the valuers appointed by the Company). The consideration shall be subject to such adjustment as may be required by the results of the legal and financial due diligence to be carried out by the Company, and the terms of the purchase agreement. Based on information provided by VHPL, a non-binding indicative valuation of the land cost of the Properties which VHPL has expressed an interest to acquire is estimated to be in the region of S$2.3 billion. The Company will determine its own valuation for the Properties in the legal and financial due diligence to be conducted. The consideration is intended to be satisfied by the allotment and issue of new Shares ("Consideration Shares") at an indicative issue price of S$0.048 per Consideration Share which will rank pari passu with all existing Shares as at the date of their issue. The actual number of Consideration Shares to be issued will depend on the final agreed value of the Property or Properties which are actually acquired by the Company from VHPL. This indicative price will be subject to adjustments based on conditions to be agreed in the purchase agreement. It is envisaged that the Properties and/or Sale Shares may be acquired over a period of time. If this structure is agreed, then the Consideration Shares will be issued in separate tranches as and when the Properties and/or Sale Shares are acquired. Sale and Purchase Agreement (?SPA?) The entry of the Company and VHPL into legally binding conditional SPA will be the subject of a separate announcement. If the SPA is not entered into on or before 31 December 2007 or such other date as the Company and VHPL may agree, the MOU will terminate. Possible reverse takeover Based on the indicative valuation of the Properties that VHPL has indicated an interest to acquire, the proposed acquisition, if eventually carried through involving the Properties which VHPL has indicated an interest to acquire, will be a very substantial acquisition or reverse takeover pursuant to Rule 1015 of the SGX-ST Listing Manual, and would be subject to the moratorium requirements specified in Rule 229 of the SGXST Listing Manual, as well as other requirements in the Listing Manual. VHPL will render to the Company all reasonable assistance to facilitate compliance with the requirements of the SGX-ST Listing Manual. VHPL will comply with all requirements imposed on it by the SIC or any regulatory authority as a condition to their approvals or waivers. Existing Business of the Company The Company and VHPL shall discuss the course of action to be taken in relation to the Company's existing business. The Company and VHPL intend to address this as an integral part of the transactions contemplated under the MOU. In this regard, the Company and VHPL have currently identified three possible scenarios namely the disposal of the Company's existing business (either to third parties or pursuant to a management buy-out), an orderly winding down of operations and liquidation of subsidiaries or the continuation of the Company's existing business as a separate business group. Warranties While neither VHPL nor Third Party has yet any legal interest in any of the Properties, VHPL is concurrently working with Third Party to conclude the respective sale and purchase agreements and VHPL warrants it will use best efforts to conclude them. . Directors' Interest Save as disclosed in this paragraph, none of the directors or controlling shareholders of the Company is interested, directly or indirectly in the said transaction. Further Information The Company will make the necessary announcements as and when it enters into the relevant sale and purchase agreements with VHPL. Subsequent to the entry into the sale and purchase agreements, the Company will, if required dispatch in due course the relevant circular to its shareholders seeking approval for the transactions contemplated under the sale and purchase agreements and its entry into the business of property development and investment. Caution The Directors wish to emphasise that the current stage of negotiations only represent an incomplete proposal or negotiation and that there is no certainty that any sale and purchase agreement may be entered into for the acquisition of the Properties and/or the Sale Shares. The Company wishes to re-iterate that shareholders should exercise caution when dealing with the securities of the Company. BY ORDER OF THE BOARD Lim Koon Hock Company Secretary Digiland International Limited 27 June 2007 |
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jackjames
Elite |
17-Sep-2007 12:30
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there are people getting at 0.01 (sell down 1500 lots at 0.01 ), good luck for those people or even got it at 0.015, now 0.02, wow.. that between 33% (0.015) and 100% (0.01) gain in one day .. that is sweet deal.. wanna try my luck at 0.01 too, heeeeee... maybe should try 0.015? |
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Pension
Elite |
17-Sep-2007 11:13
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the last time, i heard digiland is going into property but quiet for a while, the ST reported the chairman got some land. I think maybe he will sell the land to the company and built condo and digiland will cheong. |
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Snappers
Senior |
17-Sep-2007 11:00
Yells: "Buy when there is Fear, Sell when there is Greed" |
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haiz.. the more i look at it, the more my heart ache.. bought at 0.05... now only 0.15..
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bestbuy
Member |
17-Sep-2007 09:58
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BB is buying and supporting? |
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cashiertan
Elite |
17-Sep-2007 09:07
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this sinking ship.. sinking beyond the abyss. |
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Pension
Elite |
17-Sep-2007 07:59
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Dr vincent tan is loaded, buy so many AIM share. why is he loading up AIM ???? will there be a rto??? |
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bestbuy
Member |
16-Sep-2007 22:22
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The CAD is checking on AIM share dealing ? |
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Pension
Elite |
16-Sep-2007 22:18
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I think digiland should be ok and maybe aim want to buy over digiland??? |
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Pension
Elite |
16-Sep-2007 22:16
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now the company have no ceo and chairman, can anyone here voulunteer??? please put up your hand. |
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Pension
Elite |
16-Sep-2007 22:05
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some news on digiland at sgx announcement today, maybe of interest to you. |
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Snappers
Senior |
15-Sep-2007 14:49
Yells: "Buy when there is Fear, Sell when there is Greed" |
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pension, thanks pal... |
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Pension
Elite |
15-Sep-2007 14:30
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snapper, wish you luck, hope nothing happen. |
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Snappers
Senior |
15-Sep-2007 14:27
Yells: "Buy when there is Fear, Sell when there is Greed" |
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i'm still holding on to 0.05.. my fren told me can forget abt making money from this counter.. looks like what he said may come true.. hope it won't end up as paper loss.. dun know wanna sell to cut loss or hold on.. |
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