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Reverse Takeover of Sky One
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aj2invest
Senior |
31-Oct-2013 16:57
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I am kicking myself so hard. didn't buy this morning, choked, choked on my bloody finger, and now i'm itching to hit the buy!! AAAAAAAAHHHHHHHHHHH!!!!!! I HATE INHIBITIONS!! haha can still buy at .1??? | ||||
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vincente
Senior |
31-Oct-2013 16:50
Yells: "hope for the best" |
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x 0 Alert Admin |
Huat argh...........
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Rosesyrup
Veteran |
31-Oct-2013 15:40
Yells: "Get your own opinion, don't follow blindly." |
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Strong pressure at 95. Market unwilling to pay more than the NAV.
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vincente
Senior |
31-Oct-2013 15:20
Yells: "hope for the best" |
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think got chance of moving higher.
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Trade888
Member |
31-Oct-2013 13:57
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There will be no general offer as the company has asked for waiver according to the SPA.
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Trade888
Member |
31-Oct-2013 13:55
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Since they signed the conditional Sales and Purchase Agreement on 28 Sept 2013, it is legally binding subject to conditions pre-determined in the SPA. Depending on the conditions, with the share prices droping, some may prove to be difficult to meet. (just my opinion).
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maixisuahlai
Member |
31-Oct-2013 12:59
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Just sold off for 2 bids at 0.092 for some small kopi money. might still go up somemore but i better not be greedy in this kind of market condition.
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churnw
Senior |
31-Oct-2013 12:50
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Going up .... 0.091 . Something brewing | ||||
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Teochew
Member |
31-Oct-2013 11:32
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There is no legal obligation between the 2 companies and businessmen are very smart in calculation and very also sensitive to $. I can't image the differences between $0.25 and the current price of $0.09. No way they will agree with $0.25 unless the market make a U turn.
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Trade888
Member |
31-Oct-2013 11:06
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According to the announcement made in Sept 13 and recently, the SPA and the Disposal SPA is extended to June 2014 with the same terms and conditions, in other words, $0.25 and $400million stays and the disposal value of 90% of NTA or $6.9 million stays. The company is doing DD and hopefully everything could close by Dec 2013.
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limkt009
Veteran |
31-Oct-2013 10:37
Yells: "Watch your front, grab $$$$$ at your own time" |
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Building support for a bounce-back case |
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aj2invest
Senior |
31-Oct-2013 10:35
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8.9 cents at the moment think this thing's gonna bounce back in a big way? | ||||
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Octavia
Elite |
31-Oct-2013 08:59
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'No threat' to fair trading in Sky One, says SGX Singapore Exchange (SGX) has found " no threat to fair, orderly and transparent trading" in the sharp drop of Sky One Holdings stock earlier this week. In contrast, a review of trading in Asiasons Capital, Blumont Group and LionGold Corp showed " a lack of transparency" that could have threatened fair trading, the local bourse operator said yesterday. The exchange made these comments amid questions as to why regulators had not intervened more strongly in Sky One when just three weeks earlier they had suspended and then imposed trading curbs on the three other stocks, which had also suffered unusually sharp price drops. " Not all sharp price movements, whether up or down, warrant a suspension of the stock . . . In the case of Sky One, SGX's review of the circumstances revealed no threat to fair, orderly and transparent trading. Hence, no suspension occurred," SGX said in a statement. With regard to the three previously suspended stocks, " SGX's review showed disorderliness in the market, and lack of transparency which could also threaten the fairness of trading" , the exchange said. SGX also said that trading curbs, via the " designated" label, were not necessary for Sky One, a logistics provider being targeted in a reverse takeover by a coal mining business. In the case of Asiasons, Blumont and LionGold, which had their designated labels lifted on Oct 21, designation and suspension were aimed at helping to " return the market to finding its own equilibrium" . While SGX and the Monetary Authority of Singapore have said that they are reviewing the trading of Asiasons, Blumont and LionGold, they have not said if Sky One is also being reviewed. " We understand the public wanting to know more about such investigations, but releasing information prematurely could jeopardise the integrity of the investigation," SGX said. Some market observers weren't satisfied with the explanation. " How was the review of the circumstances conducted? Is there a clear-cut template that's applicable for all stocks? What are the criteria and parameters? Or was it conducted by a single inexperienced person with gut feel of the situation?" said one retail investor. " SGX mentioned disorderliness, lack of transparency, etc. There's no detailed explanation. Simply arbitrary. There's nothing in the clarification that satisfies my question on how the different standards were applied to different stocks." But David Gerald, president and chief executive of retail investor advocacy group Securities Investors Association of Singapore, said SGX was doing a reasonable job given its existing tools. The bourse operator and regulator's explanations were " helpful and adequate" , and appear to be working as intended, he added. Mr Gerald said that in this instance, investors have to own some of the responsibility if they suffered any losses from the affected stocks. " SGX has got limited tools - query, suspension and designation - and this is about the same as you would find in other jurisdictions and developed markets like Hong Kong or Australia," he said. " . . . the difference is investors here like to make money, but when the investment is affected adversely, they look for a scapegoat." The key lesson for investors is that there is no substitute for careful analysis of fundamentals and investment goals. " My advice to investors is, if you are choosing a stock, be it a penny stock or blue chip, ask yourself what you are looking for," Mr Gerald said. " If the stock has got a price-earnings ratio of 400 times, why are you there?" Shares of Sky One remained under pressure yesterday, slipping 3.5 per cent, or 0.3 cent, to close at 8.2 cents. Sky One, which ended the previous week at 47 cents, fell as much as 91 per cent in a dramatic collapse on Monday, prompting a query from the exchange. The company halted trading in its own shares for just over four hours before resuming trading after it said that it was not aware of any material undisclosed information. Asiasons, Blumont and LionGold, which have fallen as much as 90 per cent from just before their stocks collapsed on Oct 4, were also weaker yesterday. Asiasons closed at 15.5 cents, down 1.9 per cent or 0.3 cents. Blumont shed 7.8 per cent, or 1 cent, to close at 11.9 cents, while LionGold lost 6.8 per cent, or 1.4 cents, to head out at 19.1 cents. |
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stknoob
Member |
30-Oct-2013 18:05
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Is it correct to say that if RTO is successful, Energy Prima must make mandatory offer to us at a minimum price of 25cts if the SPA remains unchanged. If that is the case then it is good to buy now and wait for RTO Tks
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Trade888
Member |
30-Oct-2013 17:01
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If RTO is through, the residue value of the balance business (Skyone network minus the coal business) is worth 90% of the Skyone network's NTA. The CEO will buy back as spelled out in the DSPA. (based on the 2012 figures, it is worth $9+million.) | ||||
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Trade888
Member |
30-Oct-2013 16:17
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Share price depends very much on market demand/supply. The RTO price of $0.25 was set based on the Sales and Purchase Agreement then, so if this price stays, then it will be a good proxy for the share price, else ......
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stknoob
Member |
30-Oct-2013 15:32
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Does it mean that when RTO successful, sky one will trade at 25cts? Tks | ||||
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Trade888
Member |
30-Oct-2013 14:54
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Up or not depends very much on whether the RTO is still valid: That is the purchase of Energy Prima @ $400 million by issuing of 1.6 billion shares @$0.25. Based on the announcement, nothing has changed. |
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Teochew
Member |
30-Oct-2013 05:50
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Thanks for sharing your chart with all of us. Please continue to post your chart and analysis on this counter. Also don't bother about other people's comments as it is only your personal view.
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Bigmama
Master |
30-Oct-2013 00:43
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Rebound tomorrow! | ||||
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