Ezra

If  it is still not ripe, it will go on rising...

If it is already ripe, it will continue falling...

Hi.

EZRA's chart looks like a double top with breakdown at 204 to me.

Ezra seeks US$100m in financing for new business ventures
By Mok Fei Fei | Posted: 04 May 2010 1309 hrs

	Photos 1 of 1

SINGAPORE : Mainboard listed marine services provider, Ezra Holdings, said on Tuesday that it is seeking a three-year unsecured guaranteed financing worth US$100 million.

The financing will comprise an issue of fixed rate guaranteed notes and a guaranteed transferable term loan facility.

Proceeds will be used by Ezra to fund new business ventures or opportunities.

The money will also be used for the firm's capital expenditure or the acquisition of vessels.

The offer of the notes will be launched later Tuesday and Ezra intends to place them out to institutional or accredited investors.

DBS and HSBC have been appointed as joint lead managers and bookrunners for the financing deal.

- CNA/il

By JOYCE HOOI

 

BATHROOM products supplier Sim Siang Choon is diversifying into the oil and gas sector.

 

The company said yesterday that it has entered into an agreement to acquire a 47.9 per cent stake in Interlink Petroleum Limited - a public limited company incorporated in 1993 under the laws of India and which is engaged in the exploration and production of oil and gas - for $11.93 million.

Sim Siang Choon will make payment to the vendors in new Sim Siang Choon shares, a move which will result in a mandatory general offer for Sim Siang Choon.

'Interlink is currently the operator of two small onshore oil and gas assets located in the state of Gujarat in India, with a 100 per cent participating interest in both these assets,' said Sim Siang Choon.

'As of the date of this announcement, although both fields are not producing, they have been previously drilled and are designated as discoveries. The production of gas from these fields is expected to commence over the next two financial years.'

Under the agreement, Sim Siang Choon will acquire from Jit Sun Investments Pte Ltd a 41.4 per cent stake and from Kenneth Gerard Pereira a 6.5 per cent stake, making it 47.9 per cent in total.

In turn, Sim Siang Choon will issue new shares, at 11 cents each, which will result in Jit Sun Investments owning about 35.16 per cent of the voting rights of Sim Siang Choon on a fully diluted basis, taking into account the consideration shares and the subscription by Mr Pereira of 22,250,000 new ordinary shares in Sim Siang Choon.

This resulted in Jit Sun Investments yesterday making a pre-conditional mandatory general cash offer for Sim Siang Choon at 11 cents per share.

Lionel Lee, the managing director and major shareholder of Ezra Holdings Limited, is the sole shareholder of Jit Sun.

 

Wow!  Done earlier than expected.

I had just triggered a Sell Order @ 2.06

Hope it will be done at closing bell.

Thursday:  29 APRIL 2010  4:24pm

S$2.06  -S$0.04