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V2, looks like the latest development is in line with your assessment of the situation a few months ago.
What is your take when trading resume ?
victorian2 ( Date: 19-Nov-2009 18:18) Posted:
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Finally!!!!
Confirmation of New Shareholder/ RTO!!!!!
no wonder the share price and volume surged.
The Board of Directors (the “
the Singapore Exchange Securities Trading Limited (“
substantial increase in the volume of the Company’s shares (the “
respond to the SGX Query as follows:-
Board”) of Achieva Limited (the “Company”) refers to the queries fromSGX-ST”) on 19 November 2009, regarding aSGX Query”) and wishes toQuestion 1:
issuer), your subsidiaries or associated companies which, if known, might explain the
trading?
- If yes, the information must be announced immediately.
Are you aware of any information not previously announced concerning you (theThe Company’s response:
The Company is not aware of any information not previously announced concerning the Company, its
subsidiaries or associated companies which might explain the trading.
However, the Board understands from the representatives of Mr Henry Lim Yong Choon, a controlling
shareholder of the Company with an interest of 23.36% in the Company, that they are in discussions
with external parties pertaining to the sale of Mr Henry Lim’s shares in the Company.
The Company wishes to advise shareholders of the Company to exercise caution in dealing with their
shares in the Company, as the Company is not in the position to advise whether or not the
discussions will materialise into something definitive.
Question 2:
Are you aware of any other possible explanation for the trading?The Company’s response:
Save as disclosed above, the Company is not aware of any other possible explanation for the trading.
Question 3:
703?
The Company confirms that it is in compliance with the listing rules in the Listing Manual of the SGXST
(the “
By Order of the Board
Harry Ng
Director and Chief Financial Officer
19 November 2009
dear lao jiaos, PUMP& DUMP is a good or bad thing? if kena caught in it how ah? pls advise
thank u
Is something brewing? trading halt liao...
| >> ANNOUNCEMENT DETAILS |
| The details of the announcement start here ... |
| Date of Trading Halt * | 19-11-2009 | |
| Time of Trading Halt * | 1100 hours | |
| Reasons for Trading Halt * |
|
| Date of Trading Halt * | 19-11-2009 | |
| Time of Trading Halt * | 1100 hours | |
| Reasons for Trading Halt * |
|
Zelphon ( Date: 19-Nov-2009 10:54) Posted:
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I am suspecting another "PUMP and DUMP" by the majority shareholders...
Harry Ng Weng Sui
Chief Financial Officer
Achieva Limited
240 Macpherson Road
#02-02/03/04, Pines Industrial Building
(S) 348574
Dear Sir,
QUERY REGARDING TRADING ACTIVITY
We have noted, and draw to your attention, a substantial increase in the volume of your shares today. To ensure a fair, orderly and transparent 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
Glenn Seah
Vice President
Head, Market Surveillance
Risk Management & Regulation
Notes:
1. Subject to limited exceptions in rule 703, an issuer must announce any information known to the issuer concerning it or any of its subsidiaries or associated companies which is necessary to avoid the establishment of a false market in the issuer’s securities, or would be likely to materially affect the price or value of its securities must be publicly disclosed (rule 703).
2. An issuer must undertake a review to determine the causes of any unusual trading activity (paragraph 20 of Appendix 7.1).
3. An announcement should, among other things, state whether the issuer or any of its directors are aware of the reasons for the unusual trading activity and whether there is any material information which has not been publicly disclosed (paragraph 31 of Appendix 7.1).
4. Your responsibility under listing rules is not confined to, or necessarily satisfied by, answering the questions in this letter.
should think so......December is approaching. Year end 31 Dec.
There is always a time limit for corporate moves and if they want to mop up shares before year end results is out (no more excuses for keeping so much excess cash)....they have to pay out before any big moves are announced.
Kitty, sharp observation you have made.
Indeed, they do have a better deal. Just that they did not disclose it but crafted the announcement very poorly.
Saw the results. stripped off its one off profits from the big sale. Operating profit is getting better and cashflow positive by $1m. What matters is the profits, not the top-line.
kittyhawk ( Date: 07-Nov-2009 01:07) Posted:
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acercreative ( Date: 10-Nov-2009 18:36) Posted:
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results out. good to see some profits, but don't think there are any short term catalyst to boost the share price (no dividend declared even though cash holding still significant after 4c payout).
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_4DAD10DFB73CAA664825766A00385657/$file/AL_3Q09.pdf?openelement
victorian2 ( Date: 06-Nov-2009 23:38) Posted:
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There must be some reasons why the company terminated the distributor agreement with its major supplier. Think logically, they may really have found a better deal somewhere, which in this case maybe a better margin given by another supplier.
It seem like the announcement was "tailored" for a target group of audience. Remember the previous news on profit guidance...isn't it similar type of strategy they are using to achieve whatever objective they have in mind?
Though achieva is still priced below its cash value, but it may not be a good stock to buy at this moment. TA likely can't apply to these low volume penny stocks...but looking at the bollies, it seem to me its not on any uptrend yet.
understand that the termination of the distributorship was with increase orders from another key supplier with better margins. So with top-line loss, there is margin gains from another key supplier. I would say it is positive.
It's the way the announcement was worded. Very poorly worded. Looks like designed to cast doubts and cause share sale which the price held up well since it's priced at cash value.