Latest Forum Topics / HG Metal Last:0.32 +0.005 | Post Reply |
Good or Bad News?
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chipchip66
Master |
26-Feb-2007 19:52
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This is old news already. Market has factored in the news. HG is a fundamentally good stock, dont worry, will move past 40c in a couple of weeks. |
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njpang
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26-Feb-2007 19:34
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Can any expert out there tell me whether the news below is good or bad for the company: HG METAL MANUFACTURING LIMITED(Registration No: 198802660D) S$10 MILLION CONVERTIBLE LOAN FACILITY - CONVERSION NOTICE The board of directors (the "Board") of HG Metal Manufacturing Limited (the "Company") refers to the announcement made on 15 August 2006 in connection with the entry by the Company into a S$10,000,000 Convertible Loan Agreement (the "2006 Loan Agreement") with Oversea-Chinese Banking Corporation Limited ("OCBC"). Unless otherwise defined, the terms used in this announcement shall bear the same meanings as defined in the announcement made on 15 August 2006. The 2006 Loan Agreement allows for, inter alia, OCBC to have the right to convert all or part of the Convertible Loan Facility into fully paid new ordinary shares in the capital of the Company in accordance with the provisions set out in the 2006 Loan Agreement. The Board wishes to announce that on 23 February 2007, it has pursuant to the 2006 Loan Agreement received a conversion notice from OCBC electing to convert S$1,006,500 of the Convertible Loan Facility into fully paid new ordinary shares in the capital of the Company. The Company will accordingly allot and issue to OCBC 3,300,000 ordinary shares in the capital of the Company. By Order Of The Board Foong Lee Heng |
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