Post Reply
661-680 of 2251
Based on HK's 6.6c, the consolidated share price must be more than 66c to be attractive. Can it? I couldn't reconcile the recent move to increase authorised capital to 15B shares and now consolidate existing 10:1. I wonder are they going to reduce the authorised capital or still kept at 15B shares, say at 60c, that means can raise S$900M. Buy what hah? UtdEnv lol?
cccx123 ( Date: 04-Nov-2013 19:15) Posted:
|
Never mind.. Just dug up some examples. Swing media, sapphire corp and ASA. The chart post consolidation scares me lol.. From those charts, if we extrapolate to hankore, not saying it will happen but if it happens, picture the following. For example, if I now own 10000 lots (I wish) at current price 6.6cents. Post consolidation and after share price has settled, I own 1000lots at 20cts (shit) if I follow sapphire's example.. Uh oh..
cccx123 ( Date: 04-Nov-2013 18:59) Posted:
|
If the stock is crap, a share consolidation allows exisiting shareholders and management to sell down the shares from a higher price. However, we all know that the prospects of Hankore is great. I see this share consolidation very positively as it will remove Hankore's penny stock stigma. This will attract more analysts to initiate coverage on it. Have you ever seen DBS, Maybank Kim Eng etc initiate coverage (not unrated reports) on a stock which is less than 10c? More institutional investors will be attracted to Hankore too.
Never seen any sgx listed stock undergo share consolidation before..but in other countries it's not very beneficial to stockholders. You try look for a local precedent lor..been very busy lately. Can go two ways though I am not very optimistic. We must always question management motives to be discerning, even if it is for the better. This will prepare us for any eventuality, be it on the upside or downside.
wxp8838 ( Date: 04-Nov-2013 18:50) Posted:
|
Is that so bad?
cccx123 ( Date: 04-Nov-2013 18:41) Posted:
|
Guess it is kinda expected that share consolidation will take place. Guess that's why the share price tanked since I doubt any shareholder will oppose it in the SGM they intend to call. Don't think this issue surfaced in the AGM two weeks ago? Perhaps the reason they are going through share consolidation is to gain institutional interest with a higher share price.
Will reduce the number of shares I collect a day from tomorrow onwards. Never really saw a stock price post-consolidation increase before. Usually prices increase post-split and drop post-consolidation. Oh well.. Guess I can subtract 3 zeros from my holdings already.
Will reduce the number of shares I collect a day from tomorrow onwards. Never really saw a stock price post-consolidation increase before. Usually prices increase post-split and drop post-consolidation. Oh well.. Guess I can subtract 3 zeros from my holdings already.
Wasn't it short term? Lol..
Share7 ( Date: 04-Nov-2013 18:28) Posted:
|
Still holding.
cccx123 ( Date: 04-Nov-2013 15:18) Posted:
|
http://pdf.reuters.com/sgxnews/sgxnews.asp?i=43059c3bf0e37541& u=urn:newsml:reuters.com:20131104:nSN1XdHnB
HANKORE ENVIRONMENT TECH GROUP LIMITED
(Incorporated in Bermuda)
(Company Registration No. 34074)
(A) THE PROPOSED CONSOLIDATION OF EVERY TEN (10) EXISTING ORDINARY SHARES OF
PAR VALUE HK$0.10 IN THE CAPITAL OF THE COMPANY INTO ONE (1) ORDINARY SHARE
OF PAR VALUE HK$1.00 (THE â??PROPOSED SHARE CONSOLIDATIONâ??)
(B) THE PROPOSED ADJUSTMENT OF THE MAXIMUM NUMBER OF TRANCHE 2 SHARES TO
BE ISSUED TO THE RECEIVING COMPANY (AS DEFINED BELOW) PURSUANT TO THE
TONGYONG ACQUISITION (AS DEFINED BELOW) (THE â??PROPOSED TONGYONG
ADJUSTMENTâ??) AND
(C) THE PROPOSED AMENDMENT OF THE BYE-LAWS OF THE COMPANY (THE
â??PROPOSED BYE-LAW AMENDMENTâ??.
(COLLECTIVELY, THE â??PROPOSED TRANSACTIONSâ??)
1. INTRODUCTION
1.1. The board of directors of HanKore Environment Tech Group Limited (the â??Companyâ??) wishes to
announce that the Company is proposing to consolidate every ten (10) existing ordinary shares
of par value HK$0.10 each (â??Sharesâ??) in the capital of the Company (including treasury
shares) into one (1) ordinary share of par value HK$1.00 (â??Consolidated Shareâ??).
1.2 As a result of the Proposed Share Consolidation, each shareholder of the Company
(â??Shareholderâ??) will receive one (1) Consolidated Share for every ten (10) Shares held prior
to the Proposed Share Consolidation as at the Books Closure Date, fractional entitlements to
be disregarded.
2. THE PROPOSED SHARE CONSOLIDATION
Rationale of the Proposed Share Consolidation
2.1. The Directors are of the view that the Proposed Share Consolidation will rationalise the share
capital of the Company by reducing the number of Shares outstanding. Accordingly, the
Proposed Share Consolidation may also serve to reduce the transaction costs for investors in their
dealings in the Consolidated Shares.
2.2. Shareholders should note, however, that there is no assurance that the Proposed Share
Consolidation will achieve the desired results, nor is there assurance that such results (if
achieved) can be sustained in the longer term.
Information on the Proposed Share Consolidation
2.3. Under the Proposed Share Consolidation, every ten (10) Shares registered in the name, or
standing to the credit of the securities account, of each Shareholder or Depositor (as the case
may be) as at a Books Closure Date to be determined by the Directors (" Books Closure Date" )
will be consolidated into one (1) Consolidated Share, fractional entitlements to be disregarded.
The Consolidated Shares will be traded in board lots of 1,000 Consolidated Shares.
2.4. Shareholders should note that the number of Consolidated Shares which they will be entitled to
pursuant to the Proposed Share Consolidation, based on their holdings of the existing Shares as
at the Books Closure Date, will be rounded down to the nearest whole Consolidated Share and
any fractions of a Consolidated Share arising from the Proposed Share Consolidation will be
aggregated and dealt with in such manner as the Directors may, in their absolute discretion,
deem fit in the interests of the Company.
2.5. As at the date of this announcement, the Company has an issued share capital of
HK$485,333,407.50 divided into 4,853,334,0751 Shares of par value HK$0.10 each. Subject to
Shareholders' approval being obtained for the Proposed Share Consolidation, the issued share
capital of the Company will become HK$485,333,407.50 divided into 485,333,407 Consolidated
Shares of par value of HK$1.00 each after the Proposed Share Consolidation.
2.6. The Proposed Share Consolidation will not involve the diminution of any liability in respect of
unpaid capital or the payment to any Shareholder of any paid-up capital of the Company, and
has no effect on the Shareholdersâ?? funds of the Group. Shareholders are not required to make
any payment to the Company in respect of the Proposed Share Consolidation. Subject to
Shareholdersâ?? approval being obtained for the Proposed Share Consolidation at the special
general meeting (â??SGMâ??), Shareholdersâ?? holding of the Consolidated Shares arising from the
Proposed Share Consolidation will be ascertained on the Books Closure Date.
3. THE PROPOSED TONGYONG ADJUSTMENT
3.1. On 29 November 2012, the Company entered into the Agreement with Jiangsu Tongyong
Environment Group Co., Ltd., Zhang Juping and Zhang Mingyin, who own 96.37%, 1.87%
and 1.76% of the shares in Jiangsu Tongyong Environment Engineering Co., Ltd. (æ±?è??é??ç?¨ç?¯
å¢?å·¥ç¨?æ??é??å?¬å?¸) (the â??Targetâ??) respectively (collectively the â??Vendorsâ??) and the Target, to
acquire the Target shares from the Vendors (the â??Tongyong Acquisitionâ??). Further details of
the Tongyong Acquisition are set out in the circular dated 14 March 2013 issued by the
Company.
3.2. The Company had on 1 April 2013 obtained shareholdersâ?? approval for the Tongyong
Acquisition. Pursuant to the terms of the Tongyong Acquisition, the Company intends to issue
up to 180 million shares (the â??Tranche 2 Sharesâ??) to Total Summit Technology Limited (the
â??Receiving Companyâ??) upon the fulfillment of certain conditions.
3.3. In connection with the Proposed Share Consolidation, the Company proposes to enter into a
second supplemental agreement with the Target and the Vendors to adjust the maximum
number of Tranche 2 Shares from a maximum of 180 million Shares to a maximum of 18
million Consolidated Shares. The Proposed Tongyong Adjustment will take effect on and from
the date when the Proposed Share Consolidation becomes effective.
4. THE PROPOSED BYE-LAW AMENDMENT
4.1. Amendment to the Bye-laws
An alteration is proposed to the Bye-laws in connection with the Proposed Share
Consolidation.
4.2. Summary of Amendment
Bye-law 3(1) provides that the shares have a par value of HK$0.10 each. As a result of the
Proposed Share Consolidation, the par value of each Share will become HK$1.00.
The text of the Bye-law which is proposed to be amended is set out as follows. The deleted
text in the relevant Bye-law has been marked with a strike-through and the inserted text is
underlined.
â??3(1) The share capital of the Company shall be divided into shares of a par value of
HK$0.101.00 each.â??
5. ADJUSTMENTS TO CONVERTIBLE BOND WARRANTS AND THE WARRANTS
1 Please note that Pablo PH Chan sent an exercise notice to Tricor Barbinder Share Registration Services via
email on 30 October 2013 in respect of 8,000,000 Warrants. The original of such exercise notice must reach
Tricor Barbinder Share Registration Services before such exercise is considered valid.
5.1. Adjustments to the Convertible Bond Warrants and the Warrants
The alteration to the number of Shares as a result of the Proposed Share Consolidation will,
constitute an event giving rise to an adjustment to:-
(a) the exercise price payable for each new Share on the exercise of the warrants
(â??Convertible Bond Warrantsâ??) and the number of Convertible Bond Warrants
issued pursuant to the terms and conditions of the Convertible Bond Warrants (the
â??Conditionsâ??) in the amended and restated agency agreement dated 22 September
2009 entered into between the Company and the Bank of New York Mellon (as the
fiscal agent, warrant agent, registrar transfer agent and the replacement agent) and
(b) the exercise price payable for each new Share on the exercise of the warrants
(â??Warrantsâ??) issued to Giant Delight Holdings Limited and Pablo PH Chan2 and the
number of Warrants pursuant to the deed poll dated 21 April 2011 (â??Deed Pollâ??)
executed by the Company for the purpose of constituting, inter alia, the Warrants.
The Company will carry out the adjustment in accordance with the terms and conditions of the
ARAA and the Deed Poll. The adjustment to the Convertible Bond Warrants will be effective
on the effective date of the Proposed Share Consolidation and the adjustment to the Warrants
will be effective from the Books Closure Date (being the close of the market day immediately
preceding the effective date of the Proposed Share Consolidation).
The Company will make further announcements in relation to these adjustments when
appropriate.
5.2. Adjustment to the Convertible Bond Warrants
As at the date of this announcement, 16,441,796 Convertible Bond Warrants remained
unexercised.
Pursuant to the provisions of the Conditions, the board has determined that:
(a) the number of unexercised Convertible Bond Warrants will be adjusted on the basis
that ten (10) Convertible Bond Warrants will be consolidated into one (1) adjusted
Convertible Bond Warrant (â??Adjusted Convertible Bond Warrantâ??), fractional
entitlements to be disregarded (save where the value of such fractional entitlements
exceeds S$100)
(b) the exercise price of each Convertible Bond Warrant will be adjusted from S$0.025 to
S$0.25 and
(c) each Adjusted Convertible Bond Warrant shall carry the right to subscribe for one (1)
new Consolidated Share,
which shall take effect on the effective date of the Proposed Share Consolidation.
5.3. Adjustment to the Warrants
As at the date of this announcement, 57,692,4023 Warrants remained unexercised.
Pursuant to the provisions of the Deed Poll, the board has determined that:
(a) the number of unexercised Warrants will be adjusted on the basis that ten (10)
2 10,000,000 Warrants were transferred from Giant Delight Holdings Limited to Pablo PH Chan on 30 May 2011
3 Please see footnote 1 above
Warrants will be consolidated into one (1) adjusted Warrant (â??Adjusted Warrantâ??),
fractional entitlements to be disregarded
(b) the exercise price of each Warrant will be adjusted from S$0.04 to S$0.40 and
(c) each Adjusted Warrant shall carry the right to subscribe for one (1) new Consolidated
Share,
which shall take effect from the close of the market day immediately preceding the effective
date of the Proposed Share Consolidation.
Pursuant to the Deed Poll, any adjustment to the number of Warrants held by each
Warrantholder will be rounded downwards to the nearest whole Warrant.
6. APPROVALS
6.1 The Proposed Transactions are subject to, inter alia, approval from the Singapore Exchange
Securities Trading Limited (â??SGX-STâ??) and the Shareholders at the SGM to be convened.
6.2 An application will be made to the SGX-ST for permission to deal in and for the listing and
quotation of the Consolidated Shares pursuant to the Proposed Transactions on the mainboard
of the SGX-ST. An announcement on the outcome of the application will be made in due course.
7. DESPATCH OF CIRCULAR
Subject to the receipt of the approval in-principle from the SGX-ST, a circular containing, inter alia,
further information on the Proposed Transactions will be despatched to Shareholders in due
course.
Meanwhile, shareholders and potential investors of the Company are advised to
exercise caution when dealing in the Companyâ??s securities. When in doubt,
shareholders and potential investors are advised to seek independent advice from their
bankers, stockbrokers, solicitors or other professional advisers.
BY ORDER OF THE BOARD
Chen Dawei, David
Executive Chairman
4 November 2013
HANKORE ENVIRONMENT TECH GROUP LIMITED
(Incorporated in Bermuda)
(Company Registration No. 34074)
(A) THE PROPOSED CONSOLIDATION OF EVERY TEN (10) EXISTING ORDINARY SHARES OF
PAR VALUE HK$0.10 IN THE CAPITAL OF THE COMPANY INTO ONE (1) ORDINARY SHARE
OF PAR VALUE HK$1.00 (THE â??PROPOSED SHARE CONSOLIDATIONâ??)
(B) THE PROPOSED ADJUSTMENT OF THE MAXIMUM NUMBER OF TRANCHE 2 SHARES TO
BE ISSUED TO THE RECEIVING COMPANY (AS DEFINED BELOW) PURSUANT TO THE
TONGYONG ACQUISITION (AS DEFINED BELOW) (THE â??PROPOSED TONGYONG
ADJUSTMENTâ??) AND
(C) THE PROPOSED AMENDMENT OF THE BYE-LAWS OF THE COMPANY (THE
â??PROPOSED BYE-LAW AMENDMENTâ??.
(COLLECTIVELY, THE â??PROPOSED TRANSACTIONSâ??)
1. INTRODUCTION
1.1. The board of directors of HanKore Environment Tech Group Limited (the â??Companyâ??) wishes to
announce that the Company is proposing to consolidate every ten (10) existing ordinary shares
of par value HK$0.10 each (â??Sharesâ??) in the capital of the Company (including treasury
shares) into one (1) ordinary share of par value HK$1.00 (â??Consolidated Shareâ??).
1.2 As a result of the Proposed Share Consolidation, each shareholder of the Company
(â??Shareholderâ??) will receive one (1) Consolidated Share for every ten (10) Shares held prior
to the Proposed Share Consolidation as at the Books Closure Date, fractional entitlements to
be disregarded.
2. THE PROPOSED SHARE CONSOLIDATION
Rationale of the Proposed Share Consolidation
2.1. The Directors are of the view that the Proposed Share Consolidation will rationalise the share
capital of the Company by reducing the number of Shares outstanding. Accordingly, the
Proposed Share Consolidation may also serve to reduce the transaction costs for investors in their
dealings in the Consolidated Shares.
2.2. Shareholders should note, however, that there is no assurance that the Proposed Share
Consolidation will achieve the desired results, nor is there assurance that such results (if
achieved) can be sustained in the longer term.
Information on the Proposed Share Consolidation
2.3. Under the Proposed Share Consolidation, every ten (10) Shares registered in the name, or
standing to the credit of the securities account, of each Shareholder or Depositor (as the case
may be) as at a Books Closure Date to be determined by the Directors (" Books Closure Date" )
will be consolidated into one (1) Consolidated Share, fractional entitlements to be disregarded.
The Consolidated Shares will be traded in board lots of 1,000 Consolidated Shares.
2.4. Shareholders should note that the number of Consolidated Shares which they will be entitled to
pursuant to the Proposed Share Consolidation, based on their holdings of the existing Shares as
at the Books Closure Date, will be rounded down to the nearest whole Consolidated Share and
any fractions of a Consolidated Share arising from the Proposed Share Consolidation will be
aggregated and dealt with in such manner as the Directors may, in their absolute discretion,
deem fit in the interests of the Company.
2.5. As at the date of this announcement, the Company has an issued share capital of
HK$485,333,407.50 divided into 4,853,334,0751 Shares of par value HK$0.10 each. Subject to
Shareholders' approval being obtained for the Proposed Share Consolidation, the issued share
capital of the Company will become HK$485,333,407.50 divided into 485,333,407 Consolidated
Shares of par value of HK$1.00 each after the Proposed Share Consolidation.
2.6. The Proposed Share Consolidation will not involve the diminution of any liability in respect of
unpaid capital or the payment to any Shareholder of any paid-up capital of the Company, and
has no effect on the Shareholdersâ?? funds of the Group. Shareholders are not required to make
any payment to the Company in respect of the Proposed Share Consolidation. Subject to
Shareholdersâ?? approval being obtained for the Proposed Share Consolidation at the special
general meeting (â??SGMâ??), Shareholdersâ?? holding of the Consolidated Shares arising from the
Proposed Share Consolidation will be ascertained on the Books Closure Date.
3. THE PROPOSED TONGYONG ADJUSTMENT
3.1. On 29 November 2012, the Company entered into the Agreement with Jiangsu Tongyong
Environment Group Co., Ltd., Zhang Juping and Zhang Mingyin, who own 96.37%, 1.87%
and 1.76% of the shares in Jiangsu Tongyong Environment Engineering Co., Ltd. (æ±?è??é??ç?¨ç?¯
å¢?å·¥ç¨?æ??é??å?¬å?¸) (the â??Targetâ??) respectively (collectively the â??Vendorsâ??) and the Target, to
acquire the Target shares from the Vendors (the â??Tongyong Acquisitionâ??). Further details of
the Tongyong Acquisition are set out in the circular dated 14 March 2013 issued by the
Company.
3.2. The Company had on 1 April 2013 obtained shareholdersâ?? approval for the Tongyong
Acquisition. Pursuant to the terms of the Tongyong Acquisition, the Company intends to issue
up to 180 million shares (the â??Tranche 2 Sharesâ??) to Total Summit Technology Limited (the
â??Receiving Companyâ??) upon the fulfillment of certain conditions.
3.3. In connection with the Proposed Share Consolidation, the Company proposes to enter into a
second supplemental agreement with the Target and the Vendors to adjust the maximum
number of Tranche 2 Shares from a maximum of 180 million Shares to a maximum of 18
million Consolidated Shares. The Proposed Tongyong Adjustment will take effect on and from
the date when the Proposed Share Consolidation becomes effective.
4. THE PROPOSED BYE-LAW AMENDMENT
4.1. Amendment to the Bye-laws
An alteration is proposed to the Bye-laws in connection with the Proposed Share
Consolidation.
4.2. Summary of Amendment
Bye-law 3(1) provides that the shares have a par value of HK$0.10 each. As a result of the
Proposed Share Consolidation, the par value of each Share will become HK$1.00.
The text of the Bye-law which is proposed to be amended is set out as follows. The deleted
text in the relevant Bye-law has been marked with a strike-through and the inserted text is
underlined.
â??3(1) The share capital of the Company shall be divided into shares of a par value of
HK$0.101.00 each.â??
5. ADJUSTMENTS TO CONVERTIBLE BOND WARRANTS AND THE WARRANTS
1 Please note that Pablo PH Chan sent an exercise notice to Tricor Barbinder Share Registration Services via
email on 30 October 2013 in respect of 8,000,000 Warrants. The original of such exercise notice must reach
Tricor Barbinder Share Registration Services before such exercise is considered valid.
5.1. Adjustments to the Convertible Bond Warrants and the Warrants
The alteration to the number of Shares as a result of the Proposed Share Consolidation will,
constitute an event giving rise to an adjustment to:-
(a) the exercise price payable for each new Share on the exercise of the warrants
(â??Convertible Bond Warrantsâ??) and the number of Convertible Bond Warrants
issued pursuant to the terms and conditions of the Convertible Bond Warrants (the
â??Conditionsâ??) in the amended and restated agency agreement dated 22 September
2009 entered into between the Company and the Bank of New York Mellon (as the
fiscal agent, warrant agent, registrar transfer agent and the replacement agent) and
(b) the exercise price payable for each new Share on the exercise of the warrants
(â??Warrantsâ??) issued to Giant Delight Holdings Limited and Pablo PH Chan2 and the
number of Warrants pursuant to the deed poll dated 21 April 2011 (â??Deed Pollâ??)
executed by the Company for the purpose of constituting, inter alia, the Warrants.
The Company will carry out the adjustment in accordance with the terms and conditions of the
ARAA and the Deed Poll. The adjustment to the Convertible Bond Warrants will be effective
on the effective date of the Proposed Share Consolidation and the adjustment to the Warrants
will be effective from the Books Closure Date (being the close of the market day immediately
preceding the effective date of the Proposed Share Consolidation).
The Company will make further announcements in relation to these adjustments when
appropriate.
5.2. Adjustment to the Convertible Bond Warrants
As at the date of this announcement, 16,441,796 Convertible Bond Warrants remained
unexercised.
Pursuant to the provisions of the Conditions, the board has determined that:
(a) the number of unexercised Convertible Bond Warrants will be adjusted on the basis
that ten (10) Convertible Bond Warrants will be consolidated into one (1) adjusted
Convertible Bond Warrant (â??Adjusted Convertible Bond Warrantâ??), fractional
entitlements to be disregarded (save where the value of such fractional entitlements
exceeds S$100)
(b) the exercise price of each Convertible Bond Warrant will be adjusted from S$0.025 to
S$0.25 and
(c) each Adjusted Convertible Bond Warrant shall carry the right to subscribe for one (1)
new Consolidated Share,
which shall take effect on the effective date of the Proposed Share Consolidation.
5.3. Adjustment to the Warrants
As at the date of this announcement, 57,692,4023 Warrants remained unexercised.
Pursuant to the provisions of the Deed Poll, the board has determined that:
(a) the number of unexercised Warrants will be adjusted on the basis that ten (10)
2 10,000,000 Warrants were transferred from Giant Delight Holdings Limited to Pablo PH Chan on 30 May 2011
3 Please see footnote 1 above
Warrants will be consolidated into one (1) adjusted Warrant (â??Adjusted Warrantâ??),
fractional entitlements to be disregarded
(b) the exercise price of each Warrant will be adjusted from S$0.04 to S$0.40 and
(c) each Adjusted Warrant shall carry the right to subscribe for one (1) new Consolidated
Share,
which shall take effect from the close of the market day immediately preceding the effective
date of the Proposed Share Consolidation.
Pursuant to the Deed Poll, any adjustment to the number of Warrants held by each
Warrantholder will be rounded downwards to the nearest whole Warrant.
6. APPROVALS
6.1 The Proposed Transactions are subject to, inter alia, approval from the Singapore Exchange
Securities Trading Limited (â??SGX-STâ??) and the Shareholders at the SGM to be convened.
6.2 An application will be made to the SGX-ST for permission to deal in and for the listing and
quotation of the Consolidated Shares pursuant to the Proposed Transactions on the mainboard
of the SGX-ST. An announcement on the outcome of the application will be made in due course.
7. DESPATCH OF CIRCULAR
Subject to the receipt of the approval in-principle from the SGX-ST, a circular containing, inter alia,
further information on the Proposed Transactions will be despatched to Shareholders in due
course.
Meanwhile, shareholders and potential investors of the Company are advised to
exercise caution when dealing in the Companyâ??s securities. When in doubt,
shareholders and potential investors are advised to seek independent advice from their
bankers, stockbrokers, solicitors or other professional advisers.
BY ORDER OF THE BOARD
Chen Dawei, David
Executive Chairman
4 November 2013
04-11-2013 18:14:59 HANKORE ENVIRONMENT TEC GRPLTD (Miscellaneous :: (A) The Proposed Consolidation Of Every Ten (10) Existing Ordinary Submitted with respect to: HANKORE ENVIRONMENT TEC GRPLTD Announcement Title: MISCELLANEOUS :: (A) THE PROPOSED CONSOLIDATION OF EVERY TEN (10) EXISTING ORDINARY SHARES OF PAR VALUE HK$0.10 IN THE CAPITAL OF THE COMPANY INTO ONE (1) ORDINARY SHARE OF PAR VALUE HK$1.00 (THE " PROPOSED SHARE CONSOLIDATION" ) (B) THE PROPOSED ADJUSTMENT OF THE MAXIMUM NUMBER OF TRANCHE 2 SHARES TO BE ISSUED TO TOTAL SUMMIT TECHNOLOGY LIMITED PURSUANT TO THE TONGYONG ACQUISITION (THE " PROPOSED TONGYONG ADJUSTMENT" ) AND (C) THE PROPOSED AMENDMENT OF THE BYE-LAWS OF THE COMPANY (THE " PROPOSED BYE-LAW AMENDMENT" .) (COLLECTIVELY, THE " PROPOSED TRANSACTIONS" ) Broadcast Date: 04-Nov-2013 Broadcast Time: 18:14:54 Stock Code: B22 Reference No.: 00110 Announced by: HANKORE ENVIRONMENT TEC GRPLTD Company Registration No.: 34074 Submitted on behalf of: HANKORE ENVIRONMENT TEC GRPLTD Submitted with respect to: HANKORE ENVIRONMENT TEC GRPLTD Name of Announcer: CHEN DAWEI Designation: EXECUTIVE CHAIRMAN Broadcast date: 04-Nov-2013 Broadcast time: 18:14:54 Price sensitivity: Yes Contact No.: 62363456 Submission date: 04/11/2013 Submission time: 6:14:11 PM Announcement Title: (A) THE PROPOSED CONSOLIDATION OF EVERY TEN (10) EXISTING ORDINARY SHARES OF PAR VALUE HK$0.10 IN THE CAPITAL OF THE COMPANY INTO ONE (1) ORDINARY SHARE OF PAR VALUE HK$1.00 (THE " PROPOSED SHARE CONSOLIDATION" ) (B) THE PROPOSED ADJUSTMENT OF THE MAXIMUM NUMBER OF TRANCHE 2 SHARES TO BE ISSUED TO TOTAL SUMMIT TECHNOLOGY LIMITED PURSUANT TO THE TONGYONG ACQUISITION (THE " PROPOSED TONGYONG ADJUSTMENT" ) AND (C) THE PROPOSED AMENDMENT OF THE BYE-LAWS OF THE COMPANY (THE " PROPOSED BYE-LAW AMENDMENT" .) (COLLECTIVELY, THE " PROPOSED TRANSACTIONS" ) Description: Please see attached. Other Information:
http://pdf.reuters.com/sgxnews/sgxnews.asp?i=43059c3bf0e37541& u=urn:newsml:reuters.com:20131104:nSN464lmz
HANKORE ENVIRONMENT TECH GROUP LIMITED (Incorporated in Bermuda) (Company Registration No. 34074) USE OF NET PROCEEDS The board of directors (the â??Boardâ??) of HanKore Environment Tech Group Limited (the â??Companyâ??) wishes to provide updates on the use of the net proceeds raised by the Company from the SGD 300 million Multicurrency Medium Term Note Programme established on 24 July 2013. The Board refers to the Companyâ??s announcement released on 1 August 2013 in relation to â??Issue of S$50,000,000 in aggregate principal amount of 7.50 per cent. per annum fixed rate notes due 1 August 2015 (the â??MTNâ??), to be issued pursuant to the S$300,000,000 Multicurrency Medium Term Note Programmeâ??. The use of the net proceeds raised by the Company from the MTN (the â??MTN Net Proceedsâ??) is set out in the table below:- Balance of MTN Net Proceeds as at date of the Companyâ??s announcement released on 19 September 2013 in relation to the â??Use of Net Proceedsâ?? SGD 24,673,776.161 MTN Net Proceeds utilised as at date of the Companyâ??s announcement released on 30 October 2013 in relation to the increase in registered capital of Nanjing Golden Idea Water Development Co., Ltd., a wholly-owned subsidiary of the Company USD 9,150,000.00 or approximately SGD11,346,275 Balance of MTN Net Proceeds as at date of this announcement SGD13,327,501.16 The above-mentioned utilisation is in accordance with the use of the MTN Net Proceeds provided in the Companyâ??s announcements dated 26 July 2013 and 1 August 2013. The Company will continue to make periodic announcements on the use of the MTN Net Proceeds as and when the funds are materially disbursed and provide a status report on the use of the MTN Net Proceeds in the Companyâ??s annual report. BY ORDER OF THE BOARD CHEN DAWEI, DAVID Executive Chairman 4 November 2013 1 The MTN Net Proceeds of SGD 24,673,776.16 do not include an amount of SGD 3,750,000.00 which is currently held in escrow in an interest reserve account for payment of future interests.
Hope you managed to sell at 6.9cts this morning? :)
Share7 ( Date: 02-Nov-2013 18:15) Posted:
|
Seems range bound..hmm.. Next placement if any should be around 6.5-7cts.. Hopefully the big shots come in. Ppl that will make Mr Wang look poor haha..should not be long now. Att current price they have been given a 600 million sgd war chest in stock.
Thanks :) By 1Q results, HK's high growth rhetoric will be judged whether its smoke or real fire. Mr Market will then set the price trend. As for share sales, hope it is placement at a higher price compared to SIIC (8.5c). Then can see HK in 2D by Lunar New Year to set the base for 2014. CE
cccx123 ( Date: 02-Nov-2013 16:09) Posted:
|
H.K went up with the rally by pennies..as H.K is still in needs of funds and the indication the co increase its authorised capital,this is a forgone conclusion H> k going to raise funds matter of time-shares up for some pte placement or rights issues again in the near future
Just manage your risk can already lol. Don't follow me try bottom fishing and somehow caught a shark that bit me. I am still collecting Hankore slowly to restore my LT holdings. Got some ytd at every price it was traded at. Had to fight off the temptation to buy big yesterday as the price went up. Managed to keep to my daily limits. Might gradually sell some on the way up if it break 7.5-8cts and collect as it goes down. No longer the gung-ho trader throwing tens of thousands for a few pips anymore :)
Share7 ( Date: 02-Nov-2013 13:35) Posted:
|
cccx I may sell off my trades and doing some trading in the next 2 weeks. Learn from you and leeeta see can make some kopi money. :)
Share7 ( Date: 01-Nov-2013 10:59) Posted:
|
We should see positive recovery in Nov for early Christmas. China policy announcement (after 9-12 mtg), followed by HK's 1Q announcement (past years 14 Nov). CE.
mgrow2013 ( Date: 01-Nov-2013 18:44) Posted:
|
Aiyah I also traveling so decided to sell at 6.9c, wasn't done. So next week will queue to sell higher for kopi money. Bo pian, no time to monitor.