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golfgila
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20-May-2009 12:20
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The proposed acquisition of a 56.85% equity interest in Lucky Art Holdings Ltd and the issuance of 4,392,956,075 Consideration shares at an issue price of S$0.0125 per consideration share seems to be a way to diversify the business to special steel supply. Away from their principal business of sale of paints(Nippon Paint), building materials,repair and renovation works, building construction and investment holding etc. Any comments from what to expect from the new PRC company's involved, as new share holders in the merger and how reliable are the financial controllers in PRC ,when this is a SGX registered company? Who would want to buy the consideration shares at 0.0125 when market price is 0.01 now. Could anybody give some insight into how this whole excercise will come about? |
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wenchi
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27-Dec-2008 01:25
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THE PROPOSED ACQUISITION BY SAPPHIRE CORPORATION LIMITED (THE "COMPANY") OF A 56.85% INTEREST IN LUCKY ART HOLDINGS LIMITED, A HONG KONG ENTITY WHICH SHALL HOLD AN EQUITY INTEREST OF 70% IN NEIJIANG CHUANWEI SPECIAL STEEL CO., LTD, A SINO-FOREIGN JOINT VENTURE IN THE PEOPLE'S REPUBLIC OF CHINA Can this company survive? |
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