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Autron is NOT doing well for the last years and simply BBs are NOT interested. But, now seems like those bad news had over. Something is different and turn-around stories ?
Recently, newflows start to come in quite often and should be expecting to make money in near future. If not, really lost hope and can totally forget about this counter.
Friday, 31/Aug again we can see large buying up in the last hour! 3 very large buying up at seller prices, 0.11c x 3,971 Lots, 0.115 x 3,476 Lots & 0.12 x 1,986 Lots! Closing at day HIGH. Can imagine something must be up .... if not why buying this counter at such a large qty? BB must be in action, right?
One of the worst performing counters so far? ha ha ? may not be true from now on.
Big investor went in ?.BB starts buying ?. Then, what is up? Some news they knew, but, we don?t know ! So, what should we do? Just HOLD and SEE is it?
Lots of resistance ahead to clear before it really moves ? so .. any TA info to share and advise from anyone? Thanks-in-advance.
Anyone else holding on to this counter would like to share your view as well?
Take a look at this counter, observing for the last 2 weeks seem like some guys are collecting ... very likely something is coming out. Yesterday, buying at sellers 0.11c almost 6 millions done. Today, until now all done at 0.11c !
MFI and CCI are moving up nicely with volume increases as well. Any TA specialists would like to share your views?
Doshur, 1 month has gone ... maybe .. can check any news for this counter again?
Vested long ago ... those who have this counter ... suggest hold and see what is UP!
Good luck and Cheers!
my broker said heard some rumor, my friend also said got some news leh.
but they never tell me what is it. just tell me to buy and some news shld be announce this coming 2 months time. duno how true.
so asking here if got news bo?
heard some rumors on this counter.
anyone heard anything?
GREAT NEWS!!!!!
Those who missed the recent penny stocks rally can still consider this gem. Haven't run much yet. Daiwa targets $0.22!!!!
For Immediate Release
NEWS RELEASE
Autron Signs Agreement To
Acquire 80% Stake in Leading EMS Service Provider in China
million)
Share Sale Agreement at purchase consideration of US$34 million* (A$40.0588DBG Group has strong clienteles base with MNCs and leading China Companies
Singapore, June 25, 2007 - Autron Corporation Limited (?Autron? or the ?Group?), a
Mainboard-listed company and a total solutions provider in design and manufacturing
services to Original Equipment Manufacturers, announced today that the Group has
signed a Share Sale Agreement (?Agreement?) to acquire 80% interest in DBG Holdings
Limited (
consideration of US$34 million* (A$40.0588 million), further to an announcement dated
on 7 March 2007.
DBG Group has two wholly owned subsidiaries, Huizhou Da Ya Bay Guanghong
Electronics Company Limited (
Synergistic benefits to Complement Autron?s Existing EMS Provider��) (?DBG Group? or the ?Company?) at a purchase
�� - !
Zhonglian Electronic Co., Ltd (
) and Huizhou"$#&% '()
*
?DYB Group?) is one of the leading China EMS providers that offers end-to-end PCBA
and leading China companies. The Company has a plant in Guangdong in Southern
China of approximately 597,000 sq feet which it owns and which has a workforce of
approximately 4,500 employees. They are also awarded ISO9001:2000, TS16949:2002
and ISO140001:2004.
This acquisition is part of Autron?s strategy to acquire synergistic businesses with
proven track records and positive cash flows. DBG Group has participated in many
strategic alliances with diverse local electronic manufacturers, which Autron would be
able to leverage on DBG Group's manufacturing expertise, resources and relationships
with customers and suppliers.
Mr Eric Lim, Autron?s Group CEO, said, ?We are delighted to have secured this
agreement. It is significant as it marks Autron?s successful initiative to grow and meet
the needs of China. This acquisition will provide us with a platform to tap into the
growing China EMS industry, thus expanding the market reach for our services. We
wanted to signed this agreement only after most of the conditions precedents to the
completion were signed, and as such we expected the final completion to be by end of
July ?
The Group?s existing operations in Malaysia would complement this acquisition through
its subsidiary Fine Pulse Sdn Bhd (?Fine Pulse?). With this, Fine Pulse will be able to
reap synergistic benefits through the sharing of technological expertise and processes.
In addition, Fine Pulse would be able to offer manufacturing facilities in China to its
existing customer base.
) (collectively known as thesubcontracting and value-added assembly services to many Multinationals CompaniesOn completion of the acquisition, US$25million* (A$29.455 million) of the purchase
consideration would be paid. Subject to the terms and conditions of the Agreement, the
remaining US$9 million* (A$10.60 million) will be payable within 30 business days after
the delivery of DBG Group's audited accounts for the year ended 31 December 2007.
The acquisition would be funded by a combination of internal cash from the proceeds
from the sale of the Group?s distribution business in November 2006 and debt financing
from ABN Amro Bank
It is eyeing more acquisitions and expansion opportunities in China once it completes the purchase of an 80% in Da Ya Bay Development Ltd, an electronics manufacturing services provider in Guangdong, for US$34 million. The acquisition is expected to be completed in May and will positively contribute to Autron's earnings in the year to June 2008. Funding for the acquisition will come from the US$60 million proceeds of the sale of Autron's distribution business and the US$7.5 million raised from the sale of convertible bonds to ABN Amro earlier this month.
Da Ya Bay, which counts Sanyo, LG Electronics, TCL and Epson among its top customers, posted a net profit of $10 million on sales of $150 million last year. Da Ya Bay, which has been growing its earnings at over 50% per annum in the past three years, is currently operating at about 85% capacity utilisation rate, he said.
You're welcome, chipchip66.
It was up as high as $0.095 after it said it plans to issue US$7.5 million worth of convertible bonds to ABN AMRO Bank. The bonds are due March 21, 2010, said Autron, adding that the initial conversion price of $0.12 can be adjusted to $0.143, if the price of Autron's shares reaches $0.20.
A dealer from Kim Eng Securities said the bond sale suggests that ABN AMBO could become a significant investor in the firm if it chooses to convert the bonds into shares.
Autron Corp said the proceeds from the bonds would be used to fund its $34 million acquisition of a 80 percent stake in Hongkong's Da Ya Development Ltd, an electronics manufacturing solutions services provider.
It soared as a major block trade sparked a wave of further buying interest. The block trade or married deal was made at 10:35 a.m. and consisted of 23m shares, at $0.10 a piece, according to Reuters data.
"When a block trade happens, there's always speculation on who the buyer or seller is," said a dealer with a local brokerage. "Everyone will then try to jump in."
Today's gain puts Autron -- which has a stock market value of US$42.8m -- about 41% above its three-month low of $0.085 hit on Sept. 5.
This stock has not move for a long time. Seem like need to wait. Anyone bought this share ? I just bought some at 0.10.