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Anyone wants to jump into river? Shortists won
That means two thing:
Anyone selling now is selling theoretically 3.9 cents or less and miss out the chance for applying extra shares.
Anyone buying now is buying less than 3.9 cents because he benefit from nil-paid rights and chances for applying extra shares.
Thus one can use the above points to consider buy or sell at around 4.4 cents or lower.
ahmah00 ( Date: 10-Jun-2013 13:11) Posted:
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Guess it will drop all the way down till ex-r.
halleluyah ( Date: 08-Jun-2013 13:24) Posted:
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This counter will reach 0.025.
The price may go below $0.04 after ex-right date. It's a wrong timing to raise right share now, many small shareholders will suffer big loss as the price drops about 14% today. Normally , company will raise righr share when the price has gone up substaintially but Dr Ng did it otherwise. This action will hurt many shareholders !!!!
Bro I think you missed read one very important portion of the announcement.
The board of directors (the “Board”) of Oceanus Group Limited (the “Company”, and together
with its subsidiaries, the “Group”) wishes to announce that the Company is proposing a
renounceable underwritten rights issue of up to 1,001,752,020 new ordinary shares in the issued
and paid-up share capital of the Company (the " Rights Shares" ) at an issue price of S$0.029 for
each Rights Share (the " Issue Price”), on the basis of thirty-eight (38) Rights Shares for every
one hundred (100) ordinary shares (the " Shares" ) in the capital of the Company held by Entitled
Shareholders of the Company (as defined in paragraph 7.1 below) as at the Books Closure Date
(notice of which is set out in paragraph 8.1 below), fractional entitlements to be disregarded (the
“Rights Issue”).
38 right shares given for every 100 mother share, each priced at $0.029. Assuming shares bought at 0.044 (price at 1pm)
Hence, theoratical price per share = (1000 x 0.44 + 380 x 0.029)/ 1380 = $0.0398 per share
(NAV is 14.34 RMB cents = approx 2.9 cents)
teeth53 ( Date: 08-Jun-2013 14:32) Posted:
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Someone asked me why this abalone business needs to raise so much money. Can anyone enlighten us?
Congrats for those who sold at 5 cents. Huat arh!
Is there a foreseeable future in this counter? Yes or No?
If yes, I will add an if no I shall sell all adn say " Adios!" .
Wohahahahoo!!
DMG n partner is mgr n underwriter for this right issue, for a sum amounting to $797,000 underwriting expenses.
Approximately S$28,253,000 (“Net Proceeds”), will be use for....
General working capital - $15,168,000 or 53.69%
Repayment of bank loans - $445,000 or 1.58%
Reconstruction of production facilities - $1,555,000 or 5.5% and
Repayment of other loans and advances(1)(2)(3) (Other Loans) - 11,085,000 or 39.23%
Notes:
(1) Some undertaking shareholders (see paragraph 5.1) have previously extended loans to the Grp, will use all or part of the money owed by the Grp pursuant to such loans (any interests payable thereon, if applicable) as payment for the subscription of the rights shares provisionally allotted to them and (if applicable) application for the excess Rights Shares. The offset arrangement will result in a repayment of up to S$7mil loans by the Company to such undertaking shareholders (see paragraph 5.1). The Company will not be receiving fresh funds in respect of the subscription of the Rights Shares and excess Rights Shares pursuant to the offset arrangement. Further details in respect of the offset arrangement will be provided in the OIS. Mr. Wu Yong Shou (Mr. Wu), one of the executive directors of the Company, has entered into Wu’s subscription agreement (see paragraph 5.3). The Mgr & Underwriter, pursuant to which, he has agreed to subscribe for such number of rights shares aggregating to an amt to S$2mil. In event under-subscribe, Mr. Wu subscribes for rights shares in accordance with Wu’s subscription agreement, subscription monies payable will be set-off against part of S$3mil loan extended by Mr. Wu to the Co. The balance will be repaid with the proceeds of rights issue. In event of over-subscription, S$3mil loan extended by Mr Wu to Co will be repaid with proceeds of the rights issue.
(2) In event of over-subscription for rights, undertaking shareholders (as defined) only successfully subscribe for their provisional entitlement under the rights issue, balance loans will be repaid.
(3) Other loans amt approximately RMB42.9 mil as at 31 March 2013. These other loans have no fixed repayment terms and are classified under other payables & other loan payables of the Coy’s bal sheet as at 31-Mar-2013. The amt of Other Loans increased to RMB55.4mil (or approximately S$11,085,000) subsequently.
Underwritten rights issue of up to 1,001,752,020 new ordinary shares
Right offer @0.029c (38%) for every 100 share held. It $2.90 cts for 100 shr, since it's traded in 1,000 shr per one (1) lot.
It $29/- per 1,000 shr held, at current closed @0.050cts ($50/-). $50+$29/2 = your average price. it much dependable on mkt players whether or not, such news is welcome news or not??.. Priority to issuing right. Share were traded up to 5c ++ (see daily chart patten)
Odd lot trading-100 shr. Watch SGX for more news on odd lot trading
Entitled Shareholders - notice. The Co will be closed at 5.00 pm on 19 June 2013 for the purpose of determining the provisional allotments of rights shares to shareholders under the rights issue.
All directors are subscribing and agreeing to extra subscriptions. Think it is up instead of down. Lets see opening quotes and trading action first.
novice_trader ( Date: 08-Jun-2013 13:14) Posted:
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Rights is 0.029 cents.. Correct but there's still an exercise price for ppl who buy Oceanus R.. Certainly more than 0.029cents.. It'll still be close to the 0.04++ price of shares now..correct me if I'm wrong too
Physiology it will drop first becos of dillution n find a support level to stay on till results proven of growth/expanding of z business then the share px will go up like osim. If nt then.....
Hi fellow Bros and Sifus, as the rights issue price is $0.029 and the closing price is $0.050, there is a big differnce in price, so will there be a significant drop in price on Monday or when it's at Exercise date for the rights issue? Sorry if my questions seems stupid... Hehehe. Need to have a clear idea of rights issues or placements... Thanks and cheers!
Rights issue doesn't necessary means bad for company.. Even osim had rights issued a few years ago at 0.045 cents when it's share price was 0.055 a few years back.. It depends on how the company use the money from the rights.. Use it correctly, the company will earn and shares will up.. Use it wrongly, rights will dilute the shares and make the shares down.. Personally, I dun think its a bad idea for this company to issue rights.. But I'll surely get more of the shares if the price is low once the CR is out.. 😊
Hard to say it will drop, Oceanus cannot play by CFD. Those want to buy rights must own the ordinary shares, so they have to buy up. For those don't want to buy rights and wants to cash from rights, can only sell at Oceanus R. They should be lots of buyers at Oceanus R to get the selling pieces. Those totally want out of Oceanus may sell all.
terencee ( Date: 08-Jun-2013 08:57) Posted:
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Think can see 4c
halleluyah ( Date: 08-Jun-2013 08:36) Posted:
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Kee liao....usually will b down. Nt vested. Gd luck.
novice_trader ( Date: 08-Jun-2013 00:51) Posted:
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Bro teeth53, so rights issue given, will price drop on Monday due to price of rights issue price at 0.029? Sorry I'm new to rights issue...
Issue Price of S$0.029 for each Rights Share represents a discount of:-
(a) approximately 42.0% to the closing price of S$0.050 per Share on the Singapore Exchange Securities Trading Limited (“SGX-ST”) on 6 June 2013, being the last trading day prior to the date of this announcement and
(b) approximately 34.4% to the theoretical ex-rights price of S$0.0442 per Share.
Based on an Issue Price of S$0.029 and 1,001,752,020 Rights Shares, the estimated net proceeds of the Rights Issue, after deducting estimated expenses of approximately S$797,000, is expected to be approximately S$28,253,000 (“Net Proceeds”). The Company intends to utilise the Net Proceeds as follows...
Entitled Shareholders, - notice. The Company will be closed at 5.00 p.m. (Singapore time) on 19 June 2013 for the purpose of determining the provisional allotments of Rights Shares to Shareholders under the Rights Issue other than
Shareholders whose registered addresses with Company or with CDP, as the case may be, outside S'pore and who have not, at least three (3) Market Days prior to the Books Closure Date provided to the Company or CDP, as the case may be...
IndicativeTimetable Oceanus_Announcement_of_Rights_Issue_Final.pdf
Shareholders should take note of the following important dates and times relating to the Rights Issue...