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Thank you senior akchua... I bought mermaid 3 years ago at $0.88... If I don't take up the rights and buy some more shares at discounted price, my share price will be diluted and go lower am I right ?
Pursuant to the Equity Fund Raising and based on th e issued share capital of the Company comprising 784,747,743 Shares as at the date of thi s announcement (the " Existing Share Capital " ), up to 628,799,634 1 Rights Shares will be offered at an issue price of S$0.280 for each Rights Share (the " Rights Issue Price " ) on the basis of four Rights Shares for every five existing ordinary shares with a par value of B aht 1 each in the capital of the Company (the " Shares " ) held by Registered Shareholders (as defined belo w) as at a time and date to be determined and announced by the Directors for th e purpose of determining the entitlements of Shareholders (the " Rights Issue Books Closure Date " ), fractional entitlements to be disregarded and aggregated to fo rm part of the Excess Rights Shares (as defined below). As the Rights Issue is made on a non-renounceable b asis, the provisional allotment cannot be renounced in favour of a third party or traded on the SGX-ST.
For every 5 shares u are holding, the company allows u to buy addition 4 shares at 28 cents each.
Before right issue, total volume is 784,747,743
after right issue volume is 784,747,743 + 628,799,634 = 1.413547 billion shares approximately.
The price should be around (5x0.375 +4x0.28)/9 = 0.333 cents per share due to dilution
I have no time to go into details, my calculation is based on most basic right issue methods. Hopefully this will help you.
raymondlimtt ( Date: 20-Mar-2013 21:43) Posted:
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U go lai..lai...pennies... house look for uncle teeth. Maybe he can help u.
I own this shares at $0.88 sometime in 2010...I don't know should I cut loss as I do not know the implication of rights issue...can teach me?
Last rights issue in Oct 2009.
ballball ( Date: 20-Mar-2013 22:09) Posted:
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Did u own this share since last rights issue in 2010?
aircraft ( Date: 17-Oct-2012 13:16) Posted:
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Right issue at 0.28 cent si liao.
I kenna from this during last rights issue. Sometime bac in 2010, if i rem.corrected. I sold everything at a lost ITE. Now, I will avoid right issue. If i want, i will buy aft ex-rights.
Can any shi fu and senior teach me what is rights issues all about ?
Rights issue ...what will happen ? the share price will to increase?
Asking for right issue....siao liao
. Same boat, and dat's not including my numerous losses 
mengkorkor ( Date: 02-Feb-2013 11:45) Posted:
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ya ..can buy alrdy .. cos i alrdy sold at 0.38 ..
whatever i sell will go up,and i buy will go down.. haha..
aircraft ( Date: 02-Feb-2013 09:34) Posted:
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Good old days coming back ?
Mermaid Maritime PCL (MMT SP) HOLD
Price/Tgt: S$0.385/S$0.38 Mkt Cap: US$246.2m 3-mth daily volume: US$0.3m 1-Yr Hi/Lo: S$0.390/0.240
Clinches US$30m Subsea Contract in China
Analysts: Tan Jun Da /Nancy Wei Tel: (65) 6590 6616/6628
What's New
· Clinches subsea contract. Mermaid’s business unit Mermaid Offshore Services Limited (MOS) has been awarded another subsea construction services contract in China with an existing client, China Offshore Oil Engineering Co. Ltd. (COOEC). This contract will be performed utilizing Mermaid’s specialized DP2 Dive Support Vessel ‘Mermaid Endurer’ and other specialized equipment and personnel. This is the third year in a row that MOS has been awarded this contract by COOEC.
· US$30m contract value. The contract is scheduled to commence in March 2013 for a duration of approximately 6 months. Contract revenues are expected to be approximately US$30m (Btm900m) over this period.
Our Take
· Contract amounts to 15% of FY13 revenue. This contract will amount to about 15% of our FY13 revenue forecast, in-line with our expectations. As a result, we maintain our earnings forecast.
· Lack of strategy visibility despite trading at attractive valuation. Despite MMT trading at an attractive FY12F P/B of 0.6x, we have a HOLD recommendation on the stock due to a lack of strategy visibility. In Aug 12, former CEO Mr Bruce Gammell left MMT following a board shake-up, which saw Mr Chalermchai Mahagitsiri appointed as Executive Vice Chairman while four other board members were replaced. Mr Mahagitsiri is a prominent Thai businessman who accumulated a 14% stake in Thoresen Thai Agencies (TTA). TTA in turn owns a 50.8% stake in MMT.
Valuation/ Recommendation
· We maintain our HOLD recommendation. We derive our target price of S$0.38 by valuing Mermaid’s stake in Asia Offshore Drilling at US$5.00/share, and Mermaid’s ex-AOD book value at 0.5x FY13F P/B.
Mermaid: Awarded a subsea contract in China worth potentially US$30 million. 
Nice one!!!!
Volume is picking up...starts to smell 0.40..
How I wish too..
aircraft ( Date: 17-Oct-2012 13:16) Posted:
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can break 0.36? seems like a strong resistance point