Post Reply
21-40 of 325
Hope no one got trap in this implosion.
At least this one come with a countdown timer with beautiful woman voice that say......"Thank you....... for buying our share, self-destruct in T minus 3 days 14 hours 23 mins 46 seconds........"
freeme ( Date: 15-Jun-2009 20:56) Posted:
|
REQUEST FOR SUSPENSION
Another gone case...
Celestial is a very profitable business. Perhaps the chinese are not well versed in issuing bonds and being cautious about annoucements. Right now they are going to buy back the bonds and reduce their debt level which i think is a positive news. The bonds are not worth that much now thus it is a good time to buy it back.
not vested. just 2 cents worth
CELESTIAL NUTRIFOODS LIMITED (the “Company”) (Incorporated in Bermuda) CLARIFICATION AND UPDATE ON EARLY REDEMPTION OF CONVERTIBLE BONDS Reference is made to the announcement no. 00110 released by the Company on 25 May 2009 in relation to the update on financing for the potential early redemption of the S$235,000,000 convertible bonds (the “Bonds”). The Company wishes to clarify that, as at 23 May 2009, the Company received notification from the holders of its Bonds, requiring the Company to redeem the Bonds held by them amounting to S$234,600,000 (instead of S$234,800,000). The total amount payable on 12 June 2009 in respect of the redemption of the S$234,600,000 Bonds is S$273,660,900. The Company shall not be in a position to meet its payment obligations as stated above to the holders of the Bonds on 12 June 2009. The Board has appointed Merrill Lynch Far East Limited and its affiliates as its sole dealer manager to assist the Company in reviewing strategic options to restructure and/or repurchase the Bonds, including negotiating with the Bondholders. The Board would like to caution, however, that there is no assurance that any transaction will materialize from such negotiations. Shareholders, bondholders and investors are therefore advised to exercise caution in their dealings in the Company’s securities. Further announcements will be made as and when appropriate on a timely basis.
might see this going back below 0.1
Below is Purely my opinion:
Please forgive me if I am wrong, I only started trading this 2 years
Positive Point of view
01) High NAV
02) Exciting New Project like Bio Diesel and High Protein Products & Reasonably Good EPS at this economy downturn
03) I am not sure whether bonds holder hold any percentage of share. Assuming yes, a small percentage less than 10 percent. The bond holder will definitely save the company or else their underlying share will be affected.
Careful Point of View
01) High Nav does not mean anything, think of previous counter like Jurong Tech
02) Assuming Oil Price is stabelize at US$80 to US$100, is Bio Diesel profitable? Will there be a high demand for this product. If it is not so profitable, think of amount of money invested in this plant. What is Oil Price goes down ??? (seem impossible but who knows).Is Bio Diesel the company forte. Can market accept High Protein Products?
03) Assuming the bond holder hold a certain percentage of share (assuming 10 percent or less) but the loan of $234 is very much higher. If you are the bond holder, which one do you save first?
Is Bio Diessel Company Forte?
A listed company normally need to expand and invest in order to grow. Share holder will be excited to hear investment news and records high profit. As an investor, I will be happy to hear the shipping company I have invested is buying more ship and open new shipping route. I will be happy to hear the ship building company I have invested is aquiring a new piece of land and license to increase ship building capacity. I will be happy to hear the fast food chain I have invested has venture out of
Form my point of view, it is a nice price to sell at a nice price $0.21 and cash out now and who knows you might be able to buy back a larger amount of share few days or one two months down the road. I believe there will be a lot of uncertainity if Bond issue is not compromise before.12 June 2009.
For investors who are thinking of getting in now, just ask yourself are you buying with fear ? ? You still can choose to be a Happy investor. Thanks for reading and God Bless U J
This is from Philips Securities yesterday afternoon
Please be informed that Phillip CFD Phillip CFD will stop accepting new positions for Celestial Nutrifood due to an upcoming early redemption of their convertible bond. For the actual SGX announcement, please refer to the attached document. We also will be increasing the margin requirements of Celestial Nutrifood for LONG positions in two phases:
1) 50% IM/MM by the end of today (27th May 2009) - Both LONG & SHORT positions
2) 100% IM/MM on 3rd June 2009 day end. - ONLY LONG positions
Clients who have existing positions are advised to topup your account via EPS or Bill Payment before 9pm today to prevent a possible margin call tomorrow.
Clients with SHORT positions are advised that should Celestial be suspended, your position will continue to incur interest till the counter gets unsuspended.
Kindly inform your clients, with existing Celestial positions under CFD, about this.
Should you have any queries, please call CFD Department. Thanks
ic, i just copy and paste here
| Alligator
Senior |
Posted: 19-May-2009 15:20 Contact Alligator * Quote this Post! |
 x 0
 x 0
* Alert Admin |
Updated list: BT 19 May Queried by SGX ASA Group Holdings Bright Orient (Holding) Bright World Precision Machinery Centraland Limited China Bearing (Singapore) China Great Land Holdings China Sky Chemical Fibre Company Eagle Brand Holdings KXD Digital Entertainment Lizhong Wheel Group Sino Construction Sinopipe Holdings Sunpower Group Sunshine Holdings Synear Food Holdings Youcan Foods International Zhonghui Holdings Emphasis of Matter ASA Group Holdings Asia Environment Holdings Bright Orient (Holding) Celestial NutriFoods China New Town Development Delong Holdings KXD Digital Entertainment Star Pharmaceutical Sunshine Holdings Yong Xin International Holdings Auditor’s Opinion affected China Fashion Holdings CHT (Holdings) Reyphon Agriceutical Sino-Environment Technology Group Zhonghui Holdings Suspended from Trading Beauty China Holdings China Enersave China Printing and Dyeing Holding China Sun Bio-chem Technology Group Ferrochina FibreChem Technologies Gu angzhao Industrial Forest Biotechnology Group Memory Devices Oriental Century |
E-war ( Date: 27-May-2009 10:16) Posted:
|
I have read 2008 annual report. The auditor has earlier expressed their concern in regards to this early redemption. After reading the redemption clause, they are unsecured securities, however, in my personal opinion, most likely the bond holders would choose to redeem early, unless the management can come up with a carrot for the bond holders.
I am utterly disappointed with the management. They should have see it coming way before and should have ample time to take necessary actions. Now its already 2 weeks till the redemption date and we haven hear from them. SGX should press for more info.
Alligator ( Date: 27-May-2009 10:08) Posted:
|
this one is in the list published by BT 19 May.
http://www.sharejunction.com/sharejunction/quoteMessage.htm?topicId=6473&msgId=204110
So I am not alone....heeee.....and SGX should have intervened....or at least ask for a daily update on the situation.
When are they going to schedule the bondholder meeting ? who is attending ? And I can only access the announcement AFTER the market have closed !!! So this is WORLD CLASS financial hub ah......
E-war ( Date: 26-May-2009 23:36) Posted:
|
francisd ( Date: 26-May-2009 11:52) Posted:
|
Andrew ( Date: 26-May-2009 21:06) Posted:
|
WOW, they need S$235M (Singapore Dollar, not RMB)......wah....where to find by mid June.??.....have anyone jump ship already ???
I was so tempted to buy due to the big drop and because SuckerGX website blackout.....heng ah....