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Noted the "consolidation of 25 to 1 units" at 0.02 each units. Why not buy at 0.015 from the market ?
I will be waiting for replies too...not free to go EGM.
Can someone posts the directors' replies and comments on the company outlook here after the 19th Mar EGM meeting.
Please. Appreciate very much.
Watch out for this one, Directors buying again.
My consideration to this company is its vision. But what still will be judged by market. Good of pure investor.
The Right Shares are payable in full upon acceptance of the provisional allotments of the Right Shares and/or application for the Excess Right Shares. the Right shares, when alloted and issued will rank pari passue in all respects with the then Existing Shares.
Entitled Shareholder will be at liberty to accept (in full or in part), decline or otherwise renounce or trade
all this is subject to EGM meeting on Mar 19, 2008 (subject to share holding approval)
Allotments of right credited is expected ato be round April 24, 2008
The right Shares and Existing shares will be consolidated pursuant to the Share consolidation and will begin trading on a consoldated basic on the effective trading Date (Which is expected to be around April 25, 2008).It is expected that the share Consolidation Books Closure will fall on or around April 29, 2008.
US$ is weak currently, however the Neptune Marine's turnover is 10x more than the company piling biz.
Buy and keep like fixed deposit.
I am worse, buy between 3 to 3.5 cents. Sian, now have to wait very long.
regret buying @2.5cts, stuck for very long
The subsidiary, Neptune Marine Oil & Gas, generally allow only 30 days credit term for its customers. The revenue is recognised upon issue of invoices at the end of every month for work done.
Good for investors.
So when the rights start trading the shares and rights shares are not consolidated? That means based on your eg. I will have 20,000 rights to sell if I want to sell them?
Hi BrianNg, I guess its a good buy. The annual revenue will be at least $180 million just by renting out these two ships. Refer to SGX announcement on the acquisition of another vessel made a few days ago. Something like Sed......cant rmb what it is.
Anyone here did some fundamental studies regarding the company's acquistion? Correct me if I'm wrong, I can recall the exact details. They bought Neptune, with 2 ships which are rented out at daily price of $200++K and $300+K. Is that a good buy considering the revenue that they can generate from these ships?
EG 1: 10,000 existing shares stand, offer 20,000 right at 0.020 cent, if taken up after consolidated. Effective trading will be 1,200 consolidated shares. Of course trading price will also change.
If not taken up the offer (do not subscribe) 10,000 existing shares, 400 shares will be consolidated
Last date and time for lodgement of proxy form Mar 17, 2008 (Mon) at 10:30 am
So can anyone give an illustration on how many shares and how many rights we will have, as well as their post consolodation price?
The 1c to 20c stocks (esp 0.5c to 2c) are categorised as junk stocks, it is industry 's unwritten rule to the fund managers and analysts not to touch them.The consolidation will transfer the stock to the scope of fund managers and analysts attention and coverage. I hope the EGM be held very soon.
hi can anyone help 2 explain on tis??? Tks
Hi Check this...
SGX Announcement dated 29-02-08 : APPROVALS IN- PRINCIPLE GRANTED BY SGX-ST
(A) THE PROPOSED RENOUNCEABLE NON-UNDERWRITTEN RIGHTS ISSUE OF UP
TO 19,158,834,830 NEW SHARES (THE ?RIGHTS SHARES?) AT AN ISSUE PRICE OF
S$0.02 FOR EACH RIGHTS SHARE, ON THE BASIS OF TWO (2) RIGHTS SHARES
FOR EVERY ONE (1) EXISTING ORDINARY SHARE IN THE CAPITAL OF THE
COMPANY HELD BY SHAREHOLDERS OF THE COMPANY AS AT A BOOKS
CLOSURE DATE TO BE DETERMINED, FRACTIONAL ENTITLEMENTS TO BE
DISREGARDED (THE ?RIGHTS ISSUE?); AND
(B) THE PROPOSED CONSOLIDATION OF EVERY TWENTY-FIVE (25) SHARES IN THE
POST-RIGHTS ISSUE CAPITAL OF THE COMPANY HELD BY SHAREHOLDERS OF
THE COMPANY AFTER THE COMPLETION OF THE RIGHTS ISSUE, AS AT A
BOOKS CLOSURE DATE TO BE DETERMINED, INTO ONE (1) ORDINARY SHARE
(THE ?CONSOLIDATED SHARES?) IN THE CAPITAL OF THE COMPANY,
FRACTIONAL ENTITLEMENTS TO BE DISREGARDED (THE ?SHARE
CONSOLIDATION?)
News Link:
http://info.sgx.com/webcorannc.nsf/0357d11048060bb84825735f0028e25b/16ab0acccf572ec7482573fd0083d580
Another 1,500,000 shares bought up at 0.02
Trade summary, hope more BBs doing more purchasing.....
| Time | Last | Volume | Bid/Ask |
| 16:09:53 | 0.020 | 1,000,000 | A |
| 16:03:46 | 0.020 | 1,000,000 | A |
| 15:36:23 | 0.015 | 120,000 | B |
| 14:45:56 | 0.020 | 20,000 | A |
| 10:06:59 | 0.020 | 73,000 | A |
| 08:59:03 | 0.020 | 260,000 | B |
Many years back its name was Econ. I bought at $0.80 before they give a 1 for 1 bonus. Then it changed its name to Jasper and it price plummet to the current price. As you can see, the number of shares changing hands in the market is so big. Too diluted. I'm still holding on the my shares cos not much to get back if I sell I might loss on transaction fee. I'm not bullish for this one.