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Another turnaround theme ?
Will this be the next Ei-nets ?
Or will it another multi-bagger similar to CSC when it was 3 cts ?
On SGX Website (28/09/07)
PROPOSED RENOUNCEABLE NON-UNDERWRITTEN RIGHTS ISSUE OF SHARES WITH WARRANTS
Where capitalised terms are used in this announcement and not otherwise defined, such capitalised terms shall bear the same meanings as ascribed to them in the Company?s announcements on 13 August 2007, 24 August 2007 and 6 September 2007 relating to the proposed Rights Shares cum Warrants Issue
Further to the announcements made on 13 August 2007, 24 August 2007 and 6 September 2007 relating to the proposed Rights Shares cum Warrants Issue, the Board of Directors of Inno-Pacific Holdings Ltd (the "Company") is pleased to announce that the Singapore Exchange Securities Trading Limited ("SGX-ST") has on 28 September 2007 granted in-principle approval for the listing and quotation of up to 1,032,372,966 Rights Shares with up to 258,093,241 Warrants and up to 258,093,241 New Shares arising from the exercise of the Warrants on the Official List of the SGX-ST, subject to,
(a) compliance with the SGX-ST?s listing requirements and guidelines;
(b) Shareholders? approval being obtained in a general meeting to be convened for the Rights Shares cum Warrants Issue;
(c) a satisfactory spread of warrant holders to provide an orderly market for the Warrants in compliance with Rule 826 of the Listing Manual;
(d) submission of notification in Rule 864(4) of the Listing Manual, if applicable, upon any significant changes affecting the matter in the application; and
The SGX-ST?s in-principle approval is not to be taken as an indication of the merits of the Rights Shares cum Warrants Issue, the Rights Shares, the Warrants, the New Shares, the Company or its subsidiaries.
A circular to the shareholders setting out further details of the Rights Shares cum Warrants Issue and the notice of extraordinary general meeting will be despatched to the shareholders in due course.
The Books Closure Date, on which the Register of Members and the Share Transfer Books of the Company will be closed to determine the entitlements of shareholders to the Rights Shares cum Warrants Issue, will be announced in due course.
By Order of the Board
Wong Chin Yong
Managing Director
28 September 2007
inter alia, the following conditions:-INNO-PACIFIC HOLDINGS LTD
(Company Registration No. 197301788K)
(Incorporated in the Republic of Singapore)
Wishing that this will turn out to be another Jade .....
At 5 cts only ..... and has just struck a good business deal .....
One brave heart think can short at 5.5 cts and buy back at 5 cts.
That's probably why he attempted to throw a miserable 60 lots twice at 5 cts.
Playing with fire ..... too dangerous attempt .....
With thorough search, there's always bargains to be discovered.
E.g. at 11.5 cts, PSC attracted bargain hunters ..... and managed to find it's way to 13 cts despite what happened to others .....
As for InnoPac ..... with it's new deal ..... it's fundamentals could probably see a turnaround for the brighter .... at 5.5 cts only
(still remember when Yongnam was only at the 3.5 cts level not long ago) .....
Overly beaten stocks and yet to recover will have a better chance of staying immune from the selling down.
With reasonable fundamentals, it price will be "thereabout" at this level .....
The logic - "It can't get any lower" .....
Time to be in search of bargains again.
Tomorrow this little monster could be the next AdvSys ..... technically speaking .....
Must keep close watch on this little monster .....
This little monster can be pretty nasty when it squeezes the shorts.
A very fast mover too.
Technically, some counters have no more room for selling/shorting.
LottVis hit rock bottomed and got scoop up by bargain hunters.
Another one to check it out.
Good news yet depressed because of sentiment.
A super tua cheong one and a high multi-bagger potential.
It's good to be able to detect obvious shortists around here for the past many days.
With mammoth funds pumping into world stock markets, we are going to see massive short covering in the coming days.
And we may see a great discovery of another super multi-bagger in Inno-Pac.
Time to read the finer lines in the latest announcement.
10% is not attractive enough. Been burnt by Inno Pac before. WIll advise to watch carefully as the people will
over promise.
Sentiments have changed since the fallout from SubPrime Mortgage and the effect is still not fully felt yet.
May crash thru the support level. The STI target range from 2800-3100. Read the article below. Thread cautiously,
http://news.asiaone.com/News/AsiaOne%2BNews/Asia/Story/A1Story20070810-21472.html
Time to keep watch on Armarda too.
Looks like a trap setup for shortists.
A real big booster to InnoPac's bottomline.
Assuming even a 10% margain, that's pretty attractive and exciting.
A matter of time before this will be the next darling.