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Is tis counter a good buy? Wil it be another labroy marine. Need advice pls. I am hoping it wil raise wif the current oil px.
Rose after being featured in a popular investment newletter over the weekend. Is it "The Edge"? Can somebody comfirm that?
shaguar Member, you can have good update of company by reading <The Edge Singapore>. Weekly newspaper. Good quality paper for value. Yearly subscription only S$75.00 Last week have a big page covers this counter and men behind the show.
oops sorry just found the link. Super overvalued counter just a lot of hype...
Hi max, where did u get this statement from,or rather where can i find fresh announcements like that? Couldn't find it on the sgx website
Nylect Technology Limited
(Company Registration Number: 199904364E)
______________________________________________________________________
STRATEGIC STAKE BY EZRA HOLDINGS LIMITED
______________________________________________________________________
The Board of Directors of the Company wishes to announce that main board listed Ezra
Holdings Limited (Ezra) has today entered into a sale and purchase of shares
agreement with Unique Counsel Limited, a controlling shareholder of the Company to
acquire a strategic stake of 50,000,000 shares in the Company, (the ?Sale Shares?)
representing 21.83% of the issued share capital in the Company (the ?Acquisition?).
ACQUISTION TERMS AND RATIONALE
The Company understands that the Sale Shares will be purchased at the price of
S$0.331 per share, with aggregate consideration of S$16.55 million (the ?Sale Shares
Consideration?). The Sale Shares Consideration was arrived on a willing-buyer willing
seller basis.
The Board of Directors is of the view that this acquisition will be beneficial to the
Company and increase shareholders? value and has waived the moratorium under
Unique Counsel?s subscription of shares agreement with the Company. SGX-listed
EZRA Holdings (?EZRA? or the ?Group?) was listed on SESDAQ on 8 August 2003 and
promoted to the Main board on 8 December 2005. The Ezra Group is experienced in the
offshore oil & gas industry with its integrated range of support vessels for charter across
a broad spectrum of the oil & gas offshore support supply chain. EZRA?s businesses are
classified into offshore support and marine services. As at 5th April 2007, Ezra has a
market capitalization of S$1.7 billion.
Given Ezra?s expertise and experience, the Company believes that there will be
complementary services and businesses between the two corporations. In this regard,
Ezra?s wholly owned subsidiary, EMAS OFFSHORE PTE LTD (EMAS) has on 9 April
2007, entered into a Technical and Operations Support agreement with the Company,
whereby EMAS shall provide technical management services to the Company pertaining
to inter alia, personnel for the supervision the maintenance and upkeep of vessels,
arrangement of the supply of towing gears, stores and spares and technical consultants.
INTERESTS OF DIRECTORS AND CONTROLLING SHAREHOLDERS
Save as disclosed, none of the directors or the controlling shareholders of the Company
has any interest, direct or indirect in the abovementioned Acquisition.
BY ORDER OF THE BOARD
Sim Hee Chew
Executive Chairman
10 April 2007
(Company Registration Number: 199904364E)
______________________________________________________________________
STRATEGIC STAKE BY EZRA HOLDINGS LIMITED
______________________________________________________________________
The Board of Directors of the Company wishes to announce that main board listed Ezra
Holdings Limited (Ezra) has today entered into a sale and purchase of shares
agreement with Unique Counsel Limited, a controlling shareholder of the Company to
acquire a strategic stake of 50,000,000 shares in the Company, (the ?Sale Shares?)
representing 21.83% of the issued share capital in the Company (the ?Acquisition?).
ACQUISTION TERMS AND RATIONALE
The Company understands that the Sale Shares will be purchased at the price of
S$0.331 per share, with aggregate consideration of S$16.55 million (the ?Sale Shares
Consideration?). The Sale Shares Consideration was arrived on a willing-buyer willing
seller basis.
The Board of Directors is of the view that this acquisition will be beneficial to the
Company and increase shareholders? value and has waived the moratorium under
Unique Counsel?s subscription of shares agreement with the Company. SGX-listed
EZRA Holdings (?EZRA? or the ?Group?) was listed on SESDAQ on 8 August 2003 and
promoted to the Main board on 8 December 2005. The Ezra Group is experienced in the
offshore oil & gas industry with its integrated range of support vessels for charter across
a broad spectrum of the oil & gas offshore support supply chain. EZRA?s businesses are
classified into offshore support and marine services. As at 5th April 2007, Ezra has a
market capitalization of S$1.7 billion.
Given Ezra?s expertise and experience, the Company believes that there will be
complementary services and businesses between the two corporations. In this regard,
Ezra?s wholly owned subsidiary, EMAS OFFSHORE PTE LTD (EMAS) has on 9 April
2007, entered into a Technical and Operations Support agreement with the Company,
whereby EMAS shall provide technical management services to the Company pertaining
to inter alia, personnel for the supervision the maintenance and upkeep of vessels,
arrangement of the supply of towing gears, stores and spares and technical consultants.
INTERESTS OF DIRECTORS AND CONTROLLING SHAREHOLDERS
Save as disclosed, none of the directors or the controlling shareholders of the Company
has any interest, direct or indirect in the abovementioned Acquisition.
BY ORDER OF THE BOARD
Sim Hee Chew
Executive Chairman
10 April 2007
Keep your radar on this stock, Nylect. It is under accumulation by the BB and ready to cheong soon.
It has incorporated a subsidiary ?Northern Offshore Pte Ltd? to diversify into the in-demand offshore marine logistics and support services sector.