Semitech   

Something brewing at Semitech

The company proposed the following:

(i) The proposed acquisition of Sky One Network (Holding) Ltd

(ii) the proposed allotment and issue of an aggregate of 4,865,000 new Shares

(iii) the proposed whitewash resolution for the waiver by independe nt shareholders of their rights to receive upon the completion of the Proposed Acquisition, a mandatory take -over offer for their Shares from Mr Dicky Suen Yiu Chung, Mr Lau Hon Kit (collectively, the ?

(iv) the proposed consolidation

(v) the proposed change of name of the Company to "Sky One Holdings Limited", for a consideration of approximately $39.59 million to be satisfied by the allotment and issue of 719,800,000 new shares at $0.055 per new Share;to the financial adviser to the Company, NRA Capital Pte. Ltd. , in partial settlement of their fees in connection with the Proposed Acquisition, at $0.055 per new Share;Vendors ?) and parties acting in concert with them ;of every 4 Shares into 1 consolidated share;

 

The Board of Directors of Semitech Electronics Ltd would like to provide a business update for the first six months of 2007.
Based on preliminary numbers, the Group is expected to report a loss for H1 FY07.

This is due mainly to a substantial revenue decline from the Contract Equipment Manufacturing business compared to H1 FY06 as well as additional provisions for inventory obsolescence.

The magnitude of the loss is expected to exceed the S$1.2 million loss incurred in H1 FY06, but not to exceed S$2.0 million.

More details will be made available when Semitech reports its results for H1 FY07, expected in early August.


By Order of the Board

Victor Chow Yew Wai
CEO
Date: 10 July 2007

hope this will not cause the price of semitech to drop too much...

 

Suggestion Semitech heading for BIG time..

 

http://forum.channelnewsasia.com/viewtopic.php?t=68328

 

http://forum.channelnewsasia.com/viewtopic.php?t=68313&sid=09acb03dca3b7fc460e01309ade539e7 

 

 

18 June 2007

Mr. Victor Chow Yew Wai
Chief Executive Officer
Semitech Electronics Ltd
Blk 3014A Ubi Road 1 #04-01/02
Kampong Ubi Industrial Estate
Singapore 408703

Dear Sir,

QUERY REGARDING TRADING ACTIVITY

We have noted, and draw to your attention, a substantial increase in the trading volume of your shares today. To ensure a fair and orderly market, please answer each of the following:

Question 1: Are you aware of any information not previously announced concerning you (the issuer), your subsidiaries or associated companies which, if known, might explain the trading?
- If yes, the information must be announced immediately.

Question 2: Are you aware of any other possible explanation for the trading?

Question 3: Can you confirm your compliance with the listing rules and, in particular, listing rule 703?

Please respond immediately via SGXNET. Where appropriate, you may want to request a trading halt or a suspension of trading. Please contact Market Control (or, if you need to discuss the matter, your Account Manager in Issuer Regulation) immediately. Thank you for your cooperation.

We have released this letter via SGXNET.

Yours faithfully




Elsie Chua
Vice President
Head, Market Surveillance
Risk Management & Regulation

 

graph dun really looks good... scared become "kan cheong" king ...:)

 

Hi Folks..

 

Any idea what is cooking at Semitech.. looks like another "Cheong" king is progress..