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joshlai86 ( Date: 04-Feb-2009 22:42) Posted:
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Sep 30 2008 |
REQUEST FOR LIFTING OF TRADING HALT | |
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Sep 30 2008 |
MISCELLANEOUS :: HOLDING ANNOUNCEMENT |
teeth53 ( Date: 30-Sep-2008 19:41) Posted:
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Reverse take over, quit, put on hold, revise offer (higher or lower) or......what..?. Offer is on when all good news is at d peak..Err..now with so many bad news arriving at our shore....:((news
The board of directors of Cityneon Holdings Limited (the of the Company) are in discussions with a third party in evaluating their options with respect to their equity stakes in the Company and any possible transactions arising therefrom may or may not lead to an offer for the Company. Shareholders are however advised that there is no certainty that the aforesaid transactions will proceed.
Higher offer on the table???
The board of directors of Cityneon Holdings Limited (the
of the Company (
are in discussions with a third party in evaluating their options with respect to their equity stakes in
the Company and any possible transactions arising therefrom may or may not lead to an offer for
the Company. Shareholders are however advised that there is no certainty that the aforesaid
transactions will proceed.
Shareholders are further advised to exercise caution when dealing in the shares of the Company
and to refrain from taking any action in respect of their shares in the Company which may be
prejudicial to their interests. The Company will make the appropriate announcement if there is any
material development.
The directors of the Company (including any director who may have delegated detailed
supervision of this Announcement) have taken all reasonable care to ensure that the facts stated
and opinions expressed in this Announcement are fair and accurate and that no material facts
have been omitted from this Announcement, and they jointly and severally accept responsibility
accordingly.
By Order of the Board
Dorothy Ho / Wong Juar Ming
Company Secretaries
30 September 2008
agreed. there could be a better offer, because $0.55 is way too cheap for a MICE company expected to benefit from the Marina Bay Sands in 2010. Believe there will be a better offer by soemone else, thus the trading halt this morning.
Personally, I think there might be a revised offer >S$0.55
An offer @ S$0.55 would deem Cityneon worth S$47.8m market cap?
Its order book was already S$41m as of last Nov'07.
I think it is worth more than that judging from the trend... with the SG IR order's coming up...
Caveat Emptor.
Please exercise due diligence.
Tapiocaflash,
The earning result would be out, either in late July or Early August.
I still believed that, CN would do well in terms of its order book vs. its net earning margins
at a CAGR of 5.2%. Personally, I deem Yellowpages investment in CN as a dividend play since it paid out S$1.3m out of its net profit of S$3.6m last year.
Again, YP investment stake is a cool 15.1% of its paid up issue shares at S$55c.
On 12-Oct-07, new placement shares of 13.8m are place out to institutional investors at S$56c as well.
In other words, they would have done its maths and deem that is the current worth.
Caveat Emptor.
http://whatstocktobuy.blogspot.com/2007/10/cityneon.html
Any indication when 1Q result would be announced?
MICE industry looks bright, but I do agree Cityneon needs to rake in more sales to add on to its existing businesses. In terms of share price, it still has some catching up to do compared to say Kingsmen. I believe however it has been oversold too much.