Unlikely will drop <30cts any>
Quote:
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Originally Posted by erni
Qn is: is the 4m sell Q real?
... it definitely put a damper on the buying ...
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The sell Q of 3mil is to block to prevent sudden run up and invivte query from SGX...I think can collect or nimble at this stock now..
married deal of 33cts for 3mil is executed.Very soon will push beyond rights price of 32cts right on target.The recent $100mil loan by US fund is without payment of interest on the part of Oculus..that speaks well of the faith and confidence of the Oculus's potential and future room for growth.Besides Oculus still has option to ask for > loans on same terms from the same source..Hydroelectric power is a renewable source of energy and pollution free.Strong buy..short at your own risk but shortist is likely to lose$$
Once those trapped previously from 35 to 41cts fully out..see this counter soar....recall b4 the sharp correction..attempting to scale 45cts but went down after the rights issue announced...an American fund has provided provided interest free fund in the form of convertible loan but no interest need to be paid..rare distinction only the verygd established co then qualify..speaks well of the fund in this Occulus..naturally co doesn't want oculus to drop further now that it has come so far..parent co Global Ariel has rendered its full support..agreeing to subscribe fully its rights entitlements..previously I suspect Global Ariel also sold Oculus shares to prepare to take up its full entitlements..imagine during sharp aug correction Oculus hit 15cts and the swing up to current level about > 1 mth is magnificient...with only 180mil paid up capital and announcement of its hydroelectric plants in PRC and waste recycler in Indonesia..it;s time Oculus' price to soar again
Think need to wait for a while. Still in down side ...
Latest on SGX: 3/10/07 at 18:0x hrs
OCULUS LIMITED
(Company Registration No. 198304025N)
PROPOSED ACQUISITION OF GOLDLINE CAPITAL LIMITED
INTRODUCTION
1. The Board of Directors of Oculus Limited (the ?
that the Company has entered into a sale and purchase agreement (the
?
relating to the purchase of the entire issued share capital of Goldline Capital
Limited (?
Company?) wishes to announceAgreement?) with Engraini Leonardi (the ?Vendor?) dated 3 October 2007Goldline?).
BACKGROUND OF GOLDLINE CAPITAL LIMITED
2. Goldline is a company incorporated in the British Virgin Islands and is an
investment holding company. Goldline?s 70% owned subsidiary is PT Balikpapan
Oil Terminal (the ?
Goldline Subsidiary will be to build/operate oil storage facilities in Indonesia (the
?
As at the date of this announcement, the Goldline Subsidiary has a registered
capital of Rp1,000,000,000 divided into 1,000,000 ordinary shares of Rp1,000
each, of which 500,000 ordinary shares have been issued and paid up. Goldline is
the legal and beneficial owner of 350,000 ordinary shares of Rp1,000 each in the
capital of the Goldline Subsidiary.
The Goldline Subsidiary intends to build its first oil storage facility in
Balikpapan. The storage facility will have an initial storage capacity of 60,000
metric tonnes for fuel oil. It intends to increase this to 100,000 metric tonnes
within the next three years. Balikpapan is a seaport city on the eastern coast of
East Kalimantan, Indonesia. The East Kalimantan province is a resource-rich
region well known for its timber, mining and petroleum products. The setting up
of the storage facility will cater to the mining, shipping and agro industry in
Kalimantan and will be able to further facilitate the importation of fuel oil into the
region.
Goldline Subsidiary?). The principal activities of theBusiness?).
RATIONALE
3. The proposed acquisition is in line with the Company?s plan to further venture
into the oil and gas sector and will help to increase the Company?s income stream
in the future.
CONSIDERATION
4. The aggregate purchase price of S$4 million was arrived at on a willing buyerwilling
seller basis and is to be fully satisfied in cash and will be funded using the
Group?s internal resources.
MATERIAL CONDITIONS
5. The obligations of the parties under the Agreement are conditional upon and
subject to the fulfilment of,
(a) evidence that the Goldline Subsidiary has procured all necessary
governmental authority for the Business; and
(b) evidence that the Goldline Subsidiary has procured contracts for
rent/utlisation of at least 40,000 metric tons of storage facilities with oil
companies acceptable to the Company.
inter alia, all the following conditions:
VALUATION
6. No valuation of Goldline was carried out as the purchase consideration was on a
willing buyer-willing seller basis.
FINANCIAL EFFECTS
7. As Goldline and the Goldline Subsidiary are newly incorporated, there is
currently no financial information available for Goldline and the Goldline
Subsidiary. Accordingly, financial effects of the proposed acquisition on the
earnings of the Group and the net tangible assets of the Group are not
determinable.
INTERESTS OF DIRECTORS AND CONTROLLING SHAREHOLDERS
8. None of the Directors, and to the best of the Company?s knowledge, the
controlling shareholders of the Company has any interest, direct or indirect, in the
Proposed Acquisition.
RULE 1006 OF THE LISTING MANUAL
9. The relative figures as computed on the following bases set out in clause 1006 of
the Listing Manual based on the audited consolidated financial statements of the
Group for the financial year ended 31 December 2006 are as follows:
(i) Rule 1006(a) ? This is not applicable to the proposed acquisition.
(ii) Rule 1006(b) ? As Goldline and the Goldline Subsidiary are newly
incorporated, the net profits attributable to Goldline and/or the Goldline
Subsidiary is not available. Accordingly the bases of computation under
Rule 1006(b) is not determinable.
(iii) Rule 1006(c) ? The aggregate value of the consideration represents
approximately 5.15% of the Company?s market capitalisation of
approximately S$77,637,630, based on the volume-weighted average price
of S$0.3217 on 2 October 2007 which is the full traded market day prior
to which the Agreement was signed;
(iv) Rule 1006(d) ? This is not applicable as no securities are being issued by
the Company as consideration for the proposed acquisition.
Accordingly, the proposed acquisition is considered a discloseable transaction
under Chapter 10 of the Listing Manual and does not require the approval by
shareholders in general meeting.
So, thats why it has been up the last few days. Anymore upside tomorrow????
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OCULUS used to manufacture contact lenses that had tints of colour. It was a tough business, never mind that the lenses added a glint of excitement to their users.
