OLS Enterprise   

Transcu

any good news for this company....seems bottom for so long

 

What is the company doing?  Chartwise seems like bootoommed.

ROI25per      ( Date: 29-Sep-2009 10:10) Posted: if ceo dun do anything , below 10 this week. shit.

 

10.44 shld be the target or below if u r thinkin

 

 

 completed the $2.5m conversion, last price was 10.44c


 

PROPOSED ISSUE OF 1% UNSECURED EQUITY-LINKED REDEEMABLE STRUCTURED
NOTES DUE 2014 BY THE COMPANY TO ADVANCE OPPORTUNITIES FUND
All capitalized terms used and not defined herein shall have the same meanings given to them in
the announcements dated 30 March 2009, 11 May 2009, 2 June 2009 and 16 September 2009
(the “Announcements”).
The Board of Directors (the “Board”) of Transcu Group Limited (the “Company”) refers to the
proposed issue by the Company to Advance Opportunities Fund (the “Subscriber”) of one per
cent. unsecured equity-linked redeemable structured notes due 2014 (the “Notes”) with an
aggregate principal amount of up to S$80 million (the “Proposed Issue”), and the Announcements
made by the Company in connection with the Proposed Issue.
The Company wishes to announce that the Subscriber has exercised its right to convert an
aggregate principal amount of S$250,000 in respect of the first sub-tranche Tranche 1 Notes at the
Floating Conversion Price of S$0.1044.
The Floating Conversion Price is based on 90% of the average of the five consecutive closing
prices per share of the Company on 24, 25, 28, 29 and 30 September 2009, as traded on the SGXST,
and in accordance with the terms and conditions of the Subscription Agreement dated 30
March 2009.
To date, the aggregate amount of S$2,500,000 in respect of the first sub tranche of Tranche 1
Notes has been fully converted by the Subscriber.
The aggregate number of new shares allotted to the Subscriber is 2,394,636 ordinary shares in the
capital of the Company (the “Conversion Shares”). The new ordinary shares arising from the
conversion of the Notes in aggregate do not exceed 50% of the share capital of the Company.
Subsequent to the allotment and issuance of 2,394,636 Conversion Shares to the Subscriber, the
Conversion Shares will be listed and quoted on the official list of the SGX-ST with effect from 9.00
a.m. on 6 October 2009.
Shareholders should take note that the in-principle approval from SGX-ST is not to be taken as
an indication of the merits of the Conversion Shares, the Proposed Issue, the Company, its
subsidiaries or their securities.
None of the Directors or substantial shareholders of the Company have any direct or indirect
interest in the Proposed Issue.

 

this coy price is so low, a potential for any M&A....this is personal opinion...

 

today cheong already. go, go higher

 

latest converted px $0.1098. getting cheaper and cheaper.

 

 

 the fund keep getting cheaper pricing, 11.25c. where is the low???


 




The Board of Directors (the “Board”) of Transcu Group Limited (the “Company”) refers to the
proposed issue by the Company to Advance Opportunities Fund (the “Subscriber”) of one per
cent. unsecured equity-linked redeemable structured notes due 2014 (the “Notes”) with an
aggregate principal amount of up to S$80 million (the “Proposed Issue”), and the Announcements
made by the Company in connection with the Proposed Issue.
The Company wishes to announce that the Subscriber has exercised its right to convert an
aggregate principal amount of S$500,000 in respect of the first sub-tranche Tranche 1 Notes at the
Floating Conversion Price of S$0.1125.
The Floating Conversion Price is based on 90% of the average of the five consecutive closing
prices per share of the Company on 18, 22, 23, 24 and 25 September 2009, as traded on the SGXST,
and in accordance with the terms and conditions of the Subscription Agreement dated 30
March 2009.
To date, an aggregate amount of S$1,250,000 has been converted by the Subscriber, leaving an
outstanding balance of S$1,250,000 in respect of the first sub-tranche of Tranche 1 Notes yet to be
converted.
The aggregate number of new shares allotted to the Subscriber is 4,444,444 ordinary shares in the
capital of the Company (the “Conversion Shares”). The new ordinary shares arising from the
conversion of the Notes in aggregate do not exceed 50% of the share capital of the Company.
Subsequent to the allotment and issuance of 4,444,444 Conversion Shares to the Subscriber, the
Conversion Shares will be listed and quoted on the official list of the SGX-ST with effect from 9.00
a.m. on 30 September 2009.

 

if ceo dun do anything , below 10 this week. shit.

 

fund will keep on depressing the price so that more shares can be converted, i think. so where is the bottom for tis bugger? 10c,  5c???

 

if 5 days ave is 11, then 90% of 11 = 9.9c

if 5days ave is 11.5, then 90% of 11.5 =10.35c

the fund really smart.

 

 

when / where is the bottom ; pple threw 2.31m @ 11.5c


Slingshot Server dead or Java not enabled.

 

still dun see bloodshed yet? i like this passionate ceo...

 

close 11.5 today? buy towards year end or beginning next year will be good??????

 

If they (Advance Opp Fund) slowly sells at current price of about 12 cents, they still make a profit.

People who believe that 12 cents is a time to accumulate may unknowingly buy what is being sold by Advance Opps.

It is in Transcu CEO's interest to bid up the closing day price, if not, more shares will be converted to Advanced Opp at the lower price.

Right now, we do not know if Advance Opp wishes to take control of the company eventually. By right, it cannot own more than 50% of the company based on the notes agreement.

The notes are "toxic" because, in my opinion, the formula for calculating the conversion price more dilutive than for Convertible Bonds.

90% of the average 5 day closing price. It means that the creditor will make money no matter what. And when it cashes out the shares it owns from the conversion, through selling in the open market, more shares will drive down the demand for Transcu's share and hence price.

On the theoretical level, there is already share price dilution.

Unless Transcu can find someway to grow its earnings exponentially, EPS will keep falling with each tranch of conversion. Hence that "toxic" downwards spiralling effect.

 

 

just convert cannot push up yet. dun worry they will push up the

px and make profit.

 

can tell me why this is toxic? if advance converts at 0.114 shdnt they want the px to rise as high to profit from this deal

 

this remind me of Genemedix; from few dollars to 20-30 cents...... to 10-20cents..... to below 10cents.... and then consolidation 10:1 .... finally delisted to other mkt

 

 

dunno whether is it aof selling

 

initially placement shld have gone ahead but at the end never happen b'cos ceo said it is dilutive to existing shareholders. now tis notes even more dilutive and share price damaging.

 $500,000 get 500000/0.117 =4,273,504 shares instead of 500,000/0.38 =1,315,789 shares

 

if tis fund sell @ 12 , they still make profit for the 4m shares which may cause weak holders to get out causing more selling and in the end the fund can get even more cheaper share. bad....


 

 




 Company to raise additional funds of $95 million
􀂃
via placement of 250 million new shares
􀂃
At S$0.38 per share