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I hope i have explained the facts succinctly and clearly..I can explain again if anybody is not sure..
But again i repeat- the 0.41 cents in US dollars was taken in the context of 25th january and was taken as an assumption to explain the share buy back..
roughly they will offer how much .. CIMB still recently give it a fair value of $0.71 considering the fact of share buy back..... LMA should offer to buy back at IPO price mah...
haiih... well, I just now, maybe u buy LMA, the chances is higher than striking the hongbao TOTO, that's all..
Pls note the highlighted excerpts..
0.410 price is an assumption taken from the backdrop of 25th january and incorporating a 105% maximum price limit as set out in the resolution proposed
ACTUAL price is dependent on ACTUAL PRICE of shares transacted five days prior to the buy back taken as an average..
Hope everyone is clear..
Resolution 3: Ordinary Resolution
The Proposed Share Purchase Mandate
THAT:
(a) the exercise by the Board of Directors or, as the case may be, Directors of the Company of all the powers of the Company to purchase or otherwise acquire issued common shares
of par value US$0.0001 (?Common Shares?) not exceeding in aggregate the Maximum Limit (as hereafter defi ned), at such price or prices as may be determined by the Directors
from time to time up to the Maximum Price (as hereafter defi ned), by way of market purchase(s) on the Singapore Exchange Securities Trading Limited (?SGX-ST?) and/or any other
stock exchange on which the Common Shares may for the time being be listed and quoted (?Other Exchange?), and otherwise in accordance with Book 2 of the Civil Code of the
Netherlands Antilles, the Company?s Articles of Association and all other laws and regulations and rules of the SGX-ST or, as the case may be, Other Exchange as may for the time
being be applicable, be and is hereby authorised and approved generally and unconditionally (the ?Share Purchase Mandate?);
(b) unless varied or revoked by the general meeting of shareholders of the Company, the authority conferred on the Directors of the Company pursuant to the Share Purchase Mandate
may be exercised by the Directors at any time and from time to time during the period commencing from the date of the passing of this Resolution and expiring on the earlier of:
(i) the date on which the next Annual General Meeting of the Company is held; and
(ii) the date by which the next Annual General Meeting of the Company is required by law to be held;
(c) in this Resolution:
?Average Closing Price? means the average of the last dealt prices of a Common Share for the fi ve consecutive market days on which the Common Shares are transacted on the SGXST
or, as the case may be, Other Exchange immediately preceding the date of market purchase by the Company and deemed to be adjusted, in accordance with the listing rules of the
SGX-ST, for any corporate action which occurs after the relevant fi ve-day period;
?Equity? means the sum of the following components in the capital of the Company:
(a) the Nominal Capital;
(b) the additional paid-in share capital;
(c) the paid-up share premium; and
(d ) retained earnings and other reserves, less the losses, if any, of the Company, in so far as such losses have not yet been deducted from the reserves;
?Nominal Capital? means the sum of the nominal values of the Common Shares in issue from time to time;
?Maximum Limit? means that number of issued Common Shares representing 10% of the total number of issued Common Shares as at the date of the passing of this Resolution,
provided that the Equity of the Company at the time of the acquisition at least equals the Nominal Capital and as a result of the acquisition the Equity will not fall below the Nominal
Capital; and
?Maximum Price? in relation to a Common Share to be purchased or acquired by way of a market purchase, means the purchase price (excluding brokerage, commission, applicable
goods and services tax and other related expenses) which shall not exceed 105% of the Average Closing Price of the Common Shares; and
(d) the Directors of the Company and/or any of them be and are hereby authorised to complete and do all such acts and things (including executing such documents as may be required)
as they and/or he may consider expedient or necessary to give effect to the transactions contemplated and/or authorised by this Resolution.
By Order of the Board of Directors
Robin Sims
Company Secretary
5 February 2007
Notes:
1. With the exception of The Central Depository (Pte) Limited (who may appoint more than two proxies), a shareholder entitled to attend, speak and vote at the Extraordinary General
Meeting is entitled to appoint not more than two proxies to attend, speak and vote on his/her behalf. A proxy need not be a shareholder of the Company.
2. A Shareholder Proxy Form that has been executed by a shareholder, or a CDP Proxy Form that has been executed by a Depositor, must be lodged at the offi ce of the Company?s Share
Transfer Agent in Singapore, Lim Associates (Pte) Limited, at 3 Church Street #08-01, Samsung Hub, Singapore 049483, not less than 48 hours before the time of the Extraordinary
General Meeting.
3. The amount of fi nancing required for the Company to purchase or acquire its Common Shares, and the impact on the Company?s fi nancial position, cannot be ascertained as at the
date of this Notice as these will depend on, inter alia, the number of Common Shares purchased or acquired and the price paid for such Common Shares.
Based on the existing issued Common Shares of the Company as at 25 January 2007, the purchase by the Company of 10% of its issued Common Shares will result in the purchase
or acquisition of 58,094,658 Common Shares. Assuming that the Company purchases or acquires the 58,094,658 Common Shares at the Maximum Price of US$0.410 for one
Common Share (being the price equivalent to 5% above the average of the last dealt prices of the Common Shares for the fi ve consecutive market days on which the Common Shares
were traded on the SGX-ST immediately preceding 25 January 2007), the maximum amount of funds required for the purchase or acquisition of the 58,094,658 Common Shares is
US$23,818,810.
The fi nancial effects of the purchase or acquisition of such Common Shares by the Company pursuant to the proposed Share Purchase Mandate on the audited fi nancial statements
of the Group and the Company for the fi nancial year ended 31 December 2005 based on these assumptions are set out in paragraph 3.8 of the Company?s Circular to Shareholders
and Depositors dated 5 February 2007.
Based on the existing issued Common Shares of the Company as at 25 January 2007, the purchase by the Company of 10% of its issued Common Shares will result in the purchase
or acquisition of 58,094,658 Common Shares. Assuming that the Company purchases or acquires the 58,094,658 Common Shares at the Maximum Price of US$0.410 for one
Common Share (being the price equivalent to 5% above the average of the last dealt prices of the Common Shares for the fi ve consecutive market days on which the Common Shares
were traded on the SGX-ST immediately preceding 25 January 2007), the maximum amount of funds required for the purchase or acquisition of the 58,094,658 Common Shares is
US$23,818,810.
The fi nancial effects of the purchase or acquisition of such Common Shares by the Company pursuant to the proposed Share Purchase Mandate on the audited fi nancial statements
of the Group and the Company for the fi nancial year ended 31 December 2005 based on these assumptions are set out in paragraph 3.8 of the Company?s Circular to Shareholders
and Depositors dated 5 February 2007.
Statement pursuant to Article 13.6 of the Articles of Association of the Company
Resolution 1 is to empower the Board of Directors to modify Section 5(d)(ii) of the LMA International N.V. Executive Share Option Plan. A description of the modifi cation to the LMA
International N.V. Executive Share Option Plan and the rationale therefor are set out in the Circular to Shareholders and Depositors dated 5 February 2007.
Resolution 2 is to empower the Board of Directors to modify Section 5(d)(ii) of the LMA International N.V. Executive Share Option Plan in relation to the PASO Options of Jane Gaines-
Cooper and each of her and Robert Gaines-Cooper?s Associates. A description of the modifi cation to the LMA International N.V. Executive Share Option Plan and the rationale therefor are
set out in the Circular to Shareholders and Depositors dated 5 February 2007.
Resolution 3 is to approve the proposed share purchase mandate. A description of the proposed share purchase mandate, the rationale therefor and the fi nancial effects on the Company
(based on certain assumptions) are set out in the Circular to Shareholders and Depositors dated 5 February 2007.
...Based on the existing issued Common Shares of the Company as at 25 January 2007, the purchase by the Company of 10% of its issued Common Shares will result in the purchase
or acquisition of 58,094,658 Common Shares. Assuming that the Company purchases or acquires the 58,094,658 Common Shares at the Maximum Price of US$0.410 for one
Common Share (being the price equivalent to 5% above the average of the last dealt prices of the Common Shares for the fi ve consecutive market days on which the Common Shares
were traded on the SGX-ST immediately preceding 25 January 2007), the maximum amount of funds required for the purchase or acquisition of the 58,094,658 Common Shares is
US$23,818,810....
Hope you are enlightened..The share buy back price is based on price of shares on average the immediate 5 days preceding..
They are just using that price as an example against the backdrop of such and such a case..vis a vis..
3. The amount of fi nancing required for the Company to purchase or acquire its Common Shares, and the impact on the Company?s fi nancial position, cannot be ascertained as at the
date of this Notice as these will depend on, inter alia, the number of Common Shares purchased or acquired and the price paid for such Common Shares.
Based on the existing issued Common Shares of the Company as at 25 January 2007, the purchase by the Company of 10% of its issued Common Shares will result in the purchase
or acquisition of 58,094,658 Common Shares. Assuming that the Company purchases or acquires the 58,094,658 Common Shares at the Maximum Price of US$0.410 for one
Common Share (being the price equivalent to 5% above the average of the last dealt prices of the Common Shares for the fi ve consecutive market days on which the Common Shares
were traded on the SGX-ST immediately preceding 25 January 2007), the maximum amount of funds required for the purchase or acquisition of the 58,094,658 Common Shares is
US$23,818,810.
The fi nancial effects of the purchase or acquisition of such Common Shares by the Company pursuant to the proposed Share Purchase Mandate on the audited fi nancial statements
of the Group and the Company for the fi nancial year ended 31 December 2005 based on these assumptions are set out in paragraph 3.8 of the Company?s Circular to Shareholders
and Depositors dated 5 February 2007.
Based on the existing issued Common Shares of the Company as at 25 January 2007, the purchase by the Company of 10% of its issued Common Shares will result in the purchase
or acquisition of 58,094,658 Common Shares. Assuming that the Company purchases or acquires the 58,094,658 Common Shares at the Maximum Price of US$0.410 for one
Common Share (being the price equivalent to 5% above the average of the last dealt prices of the Common Shares for the fi ve consecutive market days on which the Common Shares
were traded on the SGX-ST immediately preceding 25 January 2007), the maximum amount of funds required for the purchase or acquisition of the 58,094,658 Common Shares is
US$23,818,810.
The fi nancial effects of the purchase or acquisition of such Common Shares by the Company pursuant to the proposed Share Purchase Mandate on the audited fi nancial statements
of the Group and the Company for the fi nancial year ended 31 December 2005 based on these assumptions are set out in paragraph 3.8 of the Company?s Circular to Shareholders
and Depositors dated 5 February 2007.
3. The amount of fi nancing required for the Company to purchase or acquire its Common Shares, and the impact on the Company?s fi nancial position, cannot be ascertained as at the
date of this Notice as these will depend on, inter alia, the number of Common Shares purchased or acquired and the price paid for such Common Shares.
Based on the existing issued Common Shares of the Company as at 25 January 2007, the purchase by the Company of 10% of its issued Common Shares will result in the purchase
or acquisition of 58,094,658 Common Shares. Assuming that the Company purchases or acquires the 58,094,658 Common Shares at the Maximum Price of US$0.410 for one
Common Share (being the price equivalent to 5% above the average of the last dealt prices of the Common Shares for the fi ve consecutive market days on which the Common Shares
were traded on the SGX-ST immediately preceding 25 January 2007), the maximum amount of funds required for the purchase or acquisition of the 58,094,658 Common Shares is
US$23,818,810.
The fi nancial effects of the purchase or acquisition of such Common Shares by the Company pursuant to the proposed Share Purchase Mandate on the audited fi nancial statements
of the Group and the Company for the fi nancial year ended 31 December 2005 based on these assumptions are set out in paragraph 3.8 of the Company?s Circular to Shareholders
and Depositors dated 5 February 2007.
Based on the existing issued Common Shares of the Company as at 25 January 2007, the purchase by the Company of 10% of its issued Common Shares will result in the purchase
or acquisition of 58,094,658 Common Shares. Assuming that the Company purchases or acquires the 58,094,658 Common Shares at the Maximum Price of US$0.410 for one
Common Share (being the price equivalent to 5% above the average of the last dealt prices of the Common Shares for the fi ve consecutive market days on which the Common Shares
were traded on the SGX-ST immediately preceding 25 January 2007), the maximum amount of funds required for the purchase or acquisition of the 58,094,658 Common Shares is
US$23,818,810.
The fi nancial effects of the purchase or acquisition of such Common Shares by the Company pursuant to the proposed Share Purchase Mandate on the audited fi nancial statements
of the Group and the Company for the fi nancial year ended 31 December 2005 based on these assumptions are set out in paragraph 3.8 of the Company?s Circular to Shareholders
and Depositors dated 5 February 2007.
Why you so like dat?... :)
a) it will rise
b) it will trade sideways and
c) it will fall
We need to consider the possibilities... :)
victort, just buy and don't ask why? wow... I want to know before I invest in any counters... it sounds like you must be buying a lot today then...
Do they say when they will do the share buyback? anytime from now?
For everyones info, the sharebuy back price is not determined from the dates as set forth by kawaiiboy..
As specified in the sharebuy back proposal Resolution 3 part c..
The sharebuyback will be done at a maximum price with a maximum limit. The maximum price is defined as 105% of the preceding average 5 days price the share buyback was executed by the company NOT any other dates. Maximum limit is 10% of total shares issued. Company cannot exceed dat amount in buying back.
Therefore if company buys share on a certain date they will calculate the average price of the 5 days before dat and put the maximum price at 105%..
I am highlighting this point so that investors dun get misleaded..pls refer to resolution 3 of the EGM and it will be clearly highlighted..and if anybody in doubt pls consult your broker or financial advisors or anybody who knows the mumbo jumbo..
Just trying to do my part to help..cheers..
Since the knowledge is already discounted in the price, the current price reflects the moment's reality. But this does not itself reflect the stock's trend.
Unravelling the trend is the head-scrastching part of the game.
isn't that a good price to enter now, knowing that theyu will buy back at most US$0.41?