2143 ECM ECM LIBRA FINANCIAL GRP BHD
ECM-RESUMPTION OF TRADING

LISTING'S CIRCULAR NO. L/Q : 65219 OF 2012Further to Listing's Circular No. L/Q 65198 of 2012, kindly be advised thattrading in the above Company's shares will resume with effect from 9.00a.m., Monday, 18 June 2012.Your attention is drawn to the Company's announcement dated 15 June 2012.Sr. Mgr. Issuers, Listing Div.


15/06/2012 04:21 PM

Somthing's coming to WCT.....good contract news perhaps?.... & that's why someone sapu till $2.42 cents.

Cheers.

Brother mrK0K3N, it's like this..

Proposed capital repayment to the shareholders of ECMLFG comprising a total of RM442,647,000 in cash divide by 830 million shares.

Cheers

WCT coming & coming...watch out for son WB too

Friends, I just phone to the ECM Libra Financial Group Bhd HQ and she told me that ONLY the share broking business is hive off but we are getting a very much better deal than OSK takeover in that we have the following....

1. cash of 53 cents for every ECM share

2. We get some Kenanga shares

3. We get Loan stocks with interest given

4. And lastly we get to keep our ECM shares which will NOT BE DELISTED BUT TRADED.

To sum it up we minority shareholders are getting a better deal than RKB OSK takover where nothing is given.

Cheers,

BTW, this evening ECM will have a teleconference.

anyone want to take a look see?

Worry not ECM holders as I feel we untong a lot...now read this from The Star 8 minutes ago...

KUALA LUMPUR: ECM Libra Financial Group Bhd (ECMLFG) has proposed a capital repayment of RM442.64mil cash to its shareholders following the disposal of its investment banking business to K&N Kenanga Holdings Bhd in return for RM875.1mil in cash, stocks and loan stocks.

ECM Libra said on Friday it would also undertake a distribution-in-specie of 120 million Kenanga shares and RM47.75mil of nominal value of redeemable non-convertible unsecured loan stocks of Kenanga.

It added it would undertake a share split of ECMLFG shares after the proposed capital repayment, to facilitate the proposed share consolidation.

After the completion of the share split, ECMLFG shares shall be consolidated into ordinary shares of RM1 each in ECMLFG.

"The issued and paid-up share capital of ECMLFG after the proposed share split will be consolidated into RM265.222mil comprising 265.22mil ordinary shares of RM1 each under the minimum scenario and RM337.73mil comprising 337.73mil ordinary shares of RM1 each under the maximum scenario," it said.

ECMLFG said the proposed disposal and proposed business merger were timely.

"The board is of the view that as a stand-alone mid-size investment bank, the prospects of the bank will be challenging. Therefore, the proposed disposal provides an opportunity for ECMLFG to exit the industry," it said.

ECMFLG said the proposed capital restructuring was to return the proceeds received from the proposed disposal to the shareholders of ECMLFG.

The Edge Financial Daily reported this on ECM Libra plans .... the Kuala Lumpur-based company doesn’t intend to sell its asset management operations, according to its June 7 exchange filing.

Brother damonjun11 , from their web site of ECM LIBRA FINANCIAL GROUP BERHAD , I got this...

ECM LIBRA FINANCIAL GROUP BERHAD consist of

ECM Libra is an investment banking group with offices in Malaysia and Labuan providing corporations and individuals with a diversified range of financial solutions and services.

The Group's activities are conducted through seven business divisions, namely:



Investment Banking
Treasury
Stockbroking
Fund Management
Futures and Options
Principal Finance & Investments
Premier Advisory


...so are they selling the stock broking company ONLY to Kenanga while retaining the rest of the divisions?

As brother tsejuie had pointed out that ECM is to retain ...

Quote...This is of course not including the purchase consideration retained by ECM which they are not distributing of about RM0.32 per share.

So does that ECM LIBRA FINANCIAL GROUP BERHAD will NOT be delisted and be trading still without the SHARE BROKING BUSINESS?

So, we have ECM & Kenanga trading together with ECM not being a share stocking broking firm anymore?

Feedback please.

Brother tsejuie . I already am "mong char char" on this agreement. From your reading our ECM is worth 68.13 cents?..OMG

Anyone else can elaborate further?

K & N KENANGA HOLDINGS BERHAD (“KENANGA HOLDINGS” OR “COMPANY”)
PROP
(I) PROPOSED ACQUISITION BY KENANGA INVESTMENT BANK BERHAD (“KIBB”) OF
THE ENTIRE ISSUED AND PAID-UP SHARE CAPITAL OF ECM LIBRA INVESTMENT
BANK BERHAD (“EIBB”) FROM ECM LIBRA FINANCIAL GROUP BERHAD (“ECMLFG”)
FOR AN AGGREGRATE PURCHASE CONSIDERATION OF RM875,114,000 (SUBJECT
TO POST-CLOSING ADJUSTMENT) (“PROPOSED ACQUISITION”); AND
(II) PROPOSED BUSINESS MERGER OF THE BUSINESSES OF KIBB AND EIBB
(“PROPOSED BUSINESS MERGER”).
(COLLECTIVELY REFERRED TO AS THE “PROPOSALS”)
CQUISITION
1.

Wah , the agreement is so detailed & too complicated for he to understand, hee, hee, hee

Any accountant or legal eagle here to explain fully in simple language what it gives to use the ECM shareholders.....cheers.

Download the pdf file here please...

http://www.bursamalaysia.com/website/bm/listed_companies/company_announcements/announcements/index.jsp

Type
:
Announcement
Subject
:

MULTIPLE PROPOSALS

Description
:

ECM LIBRA FINANCIAL GROUP BERHAD (“ECMLFG” OR THE “COMPANY”)
• Proposed Disposal;
• Proposed Business Merger;
• Proposed Capital Repayment;
• Proposed Share Split; and
• Proposed Share Consolidation,
(collectively referred to as the “Proposals”)


Announcement Details/Table Section :


On behalf of the Board of Directors of ECMLFG (“Board”), ECM Libra Investment Bank Berhad (“ECMLIB”) wishes to announce that:

(i) ECMLFG had on 15 June 2012, entered into a conditional share purchase agreement with Kenanga Investment Bank Berhad (“KIBB”) and K & N Kenanga Holdings Berhad (“KNKH”) for the proposed disposal by ECMLFG of the entire equity interest in ECMLIB to KIBB for a total disposal consideration of RM875,114,000 (“Proposed Disposal”) (“SPA”); and

(ii) Pursuant to the Proposed Disposal, ECMLIB simultaneously entered into a business merger agreement with KIBB for the proposed business merger of the businesses of ECMLIB and KIBB (“Proposed Business Merger”) (“BMA”).

The SPA and the BMA were entered into after ECMLFG and KNKH received the approvals of the Minister of Finance via a letter from Bank Negara Malaysia dated 7 June 2012 and the Securities Commission via its letter dated 12 June 2012 for the Proposed Disposal and Proposed Business Merger.

In conjunction with and arising from the above, on behalf of the Board, ECMLIB also wishes to announce that the Company proposes to undertake a capital restructuring as follows:

(i) Proposed capital repayment to the shareholders of ECMLFG comprising a total of RM442,647,000 in cash, 120,000,000 ordinary shares of RM1.00 each in KNKH and RM47,750,000 nominal value of redeemable non-convertible unsecured loan stocks of KNKH (Series A) via a reduction of the par value of the existing ordinary shares of ECMLFG by an amount to be determined, in accordance with Section 64 of the Companies Act, 1965 (“Proposed Capital Repayment”);

(ii) Proposed share split involving the subdivision of the ordinary shares in ECMLFG after the Proposed Capital Repayment, to facilitate the Proposed Share Consolidation (as defined below) (“Proposed Share Split”); and

(iii) Proposed consolidation of the ordinary shares in ECMLFG after the Proposed Share Split resulting in ECMLFG having a reduced issued and paid-up share capital taking into account the Proposed Disposal and the Proposed Capital Repayment (“Proposed Share Consolidation”),

(collectively referred to as the “Proposed Capital Restructuring”).

The details of the Proposals are set out in the attachment.


This announcement is dated 15 June 2012.

68 cents cash payment is not bad & you also have Kenanga shares & also some Loan stocks which give interest as well......correct me if I am wrong please...thank you.

Kenanga shares may move up with the extra clients from ECM, thereby more profits & thus Kenanga shares may move up....this is just a general opinion only.

Cheers.

PS. Brother tansrihew, you are much welcome & am happy that you make some good bucks....cheers.

Brother kltrader , that means we are getting a total of $1.36 cents.....maybe I am wrong and can anyone else confirm this?

More snapshot & as usual do your homework please before buying...this is only rough idea of this counter..


http://i5.photobucket.com/albums/y193/chongwah/tas_2.png

Brother Maliki BAR , no TP had been given by any research houses but it's undervalue I presume...take a look at snapshot below please below...


http://i5.photobucket.com/albums/y193/chongwah/TAS.png

The 2nd contract..

Type
:
Announcement
Subject
:

OTHERS

Description
:

VESSEL SALES WORTH APPROXIMATELY RM98MIILION SECURED.


Announcement Details/Table Section :


The Board of Directors of TAS Offshore Berhad (TAS) is pleased to announce that its wholly-owned subsidiaries have secured contracts for the sale of two units of Anchor Handling Tug/Oil Recovery/Support Vessel with an aggregate value of approximately RM98 million.

The two vessels were sold to one of our valued overseas customers who had, over the years, purchased 15 units of vessels from us. These two units of vessel are expected to be delivered by late 2013.

The revenue stream from the contracts is expected to contribute positively to the earnings and net assets of TAS Group for the financial years ending 31 May 2013 and 2014.

None of the directors and/or major shareholders of TAS or persons connected to them have any interest, direct or indirect, in the above contracts.

Undervalue counter, anyone interested?

Type
:

Announcement
Subject
:

OTHERS

Description
:

VESSEL SALES WORTH APPROXIMATELY RM49 MILLION SECURED


Announcement Details/Table Section :


The Board of Directors of TAS Offshore Berhad (TAS) is pleased to announce that its wholly-owned subsidiary have secured a new contract for the sale of a unit of Anchor Handling Tug/Oil Recovery/Support Vessel with an approximate value of RM49 million.

This vessel is sold to one of our valued overseas customers who had, over the years, purchased 17 units of vessels from us. This vessel is expected to be delivered by early 2014.


The revenue stream from the contracts is expected to contribute positively to the earnings and net assets of TAS Group for the financial years ending 31 May 2013 and 2014.


None of the directors and/or major shareholders of TAS or persons connected to them have any interest, direct or indirect, in the above contracts.

Please read...

When was the last time you volunteered? Some people help out a local charity. Some get involved with a service club. Some people help clean up the environment or strengthen the community or provide a warm face to those in need of comfort.

It’s about community spirit, giving back – just being an all-round good person.

And there is nothing that feels so good and makes a person feel so fulfilled as knowing that she is making a difference in the world.

You see, it is not so important how much we contribute, but it is very important that we do.



Cheers

Yes, brother KC Loh , alot of people going to get burnt as I had said very very much earlier that Nicorp is NOT GETTING THE THE LPG DEAL....why?...because an Omani company from the Middle East had already sign the agreement with Shell quite sometime back....still people want to chase this counter after I had said this, OMG.

Cheers.

Yes, brother jacklew . smart thinking.....always say a big NO to those "fast & furious" counter & you will never get burnt. Buy counters that are undervalue & had potentials, hold it for a certain period like your bank FD & see your money grows.....patience is the key work in trading shares.

Cheers.


PS....this WCT will definitely move, the time will come, you just be a bit patient & you will reap your rewards. If you had notice by the trading, you will notice that some purposely throw down 1 lot at 1 cent cheaper to collect & when that person had collected enough, then goreng time, hee, hee, hee.

And oh yes, please don't forget the WCT WB for those who can't afford to buy mother WCT.

For those who think that they play smart & want to take a little profit & sell yesterday & a few days back & hoping to see ECM goes down to collect again, have to regret for doing so. As it is I had warn you all yesterday with the below [see below]& you all do the stupid thing to sell & hope to pick up cheap again, hee,hee, hee


Posted by chong > Jun 14, 2012 01:01 AM X

Friends please read this headline appearing on The Star on 12th June 2012


Tuesday June 12, 2012
Final terms for ECM-K&N RM890mil merger pact likely to be set this week

...now read this

K&N Kenanga, a Kuala Lumpur-based brokerage backed by Deutsche Bank AG, would pay in cash and shares and the final terms would be set this week, said the people, who declined to be named as the information is private.

....it plainly said "final terms would be set this week"


As always I leave you all to decide, the decision is always yours.....whether to stay & hopefully for the announcement soon preferable this week or chabut & make some profits. For me I will stay to see the real BIG GAIN after having average down & bought plenty when it was 77 cents from 82 cents.....take it from me that Ambank chief Azman will not sell cheap when it's NTA is $1.23 cents.

Cheers.


....now please don't try to be too smart or try to outwit others. And to those who keep criticizing to discourage others not to buy, now "eat your heart out" & you keep criticizing & not contributing & sharing here & now you suffer feel bitterness or pain as they long as you live.

For those who have faith & keep collecting to reap the benefits of a merger, you have earn yourself a BONANZA, and as some say a big angpow before Hari Raya.

Cheers & let's be patient & wait a little longer to see the takeover price & then only we celebrate.....yes, patience my friends as patience is the mother of all virtues in buying shares. I had traded for nearly 20 years & I am still surviving. Please don't think that you want the price to increase immediately as soon as you buy, forget it my friends & face reality please. Yes, you all must have seen a number of idiotic persons or members who criticize & talk nonsense the most when they said you all had been cheated by me in buying Bintai at 34 cents & above....now ask yourself what is the price of Bintai now?
Yes, it's now 48.5 cents, a gain of a whopping 14.5 cents per share....that is a gain of 42.65% profit on this Bintai counter.

The same thing will happen to Smartag just like Bintai...please hold Smartag for a least 2 reports more after the commencement of the Customs Department compulsory using of Smartag RFID on containers & please please don't contra but keep for mid or long term.

Cheers & good luck too.

Brother astrowoon , most probably ECM be delisted after the merger with Kenanga listed & traded only. Yes, they will exchange our ECM shares with at least 60 cents cash & the rest most probable in Kenanga shares & the added option of Loan stocks .....whether Kenanga will maintain the name Kenanga ECM Berhad is left to be seen....maybe they will change the nae Kenanga to Kenanga ECM because of marketing reasons.

Cheers everyone & let's hope come today they will announce a merger price of $1.20 and above, perhaps $1.722 cents taking into account of ECM net worth, hee, hee, hee.....then we all can eat abalone wash down with champagne.

Let's hope tomorrow morning both ECM & Kenanga will announced the merger price for ECM shares following the suspension...I take it to be around $1.10 to $1.20....anything higher than this will be a bonus.

Cheers.

Yahoooooooooooooo....now see this....


2143 ECM ECM LIBRA FINANCIAL GRP BHD
ECM-Request For Suspension

LISTING'S CIRCULAR NO. L/Q : 65198 OF 2012
Kindly be advised that at the request of the above Company, trading in its
shares will be suspended with effect from 9.00 a.m., Friday, 15 June 2012
pending a material announcement.
Sr. Mgr. Issuers, Listing Div.


14/06/2012 05:36 PM


Ref Code: 20120614LC00153

Good ending despite a bad market, hee, hee, hee

WOOOOOOOOOOOOOOOO

hoot hoot

yipeeeee

Friends please read this headline appearing on The Star on 12th June 2012


Tuesday June 12, 2012
Final terms for ECM-K&N RM890mil merger pact likely to be set this week

...now read this

K&N Kenanga, a Kuala Lumpur-based brokerage backed by Deutsche Bank AG, would pay in cash and shares and the final terms would be set this week, said the people, who declined to be named as the information is private.

....it plainly said "final terms would be set this week"


As always I leave you all to decide, the decision is always yours.....whether to stay & hopefully for the announcement soon preferable this week or chabut & make some profits. For me I will stay to see the real BIG GAIN after having average down & bought plenty when it was 77 cents from 82 cents.....take it from me that Ambank chief Azman will not sell cheap when it's NTA is $1.23 cents.

Cheers.

More to come in the late afternoon?

yahoooooooooooo

Brother jtpc2006 , I think the special,dividend of 60+ cents is part of the price of $1.10 to $1.20 but then I may be wrong as ECM NTA stood at $1.20...so we wait for the agreement details which I presume will be out anytime from now.

Cheers jtpc2006 , all the best to all....huat huat huat lah, hee, hee,hee

Thank you brother mrK0K3N for the updates & feedback...welcome it...yes, "decisions is always yours alone"....no blaming by a few sore losers....cheers.

And brother Eagle95, please go to my forum & read the latest comments written today.....many thanks.

Brother Eagle95 , let's see these few days if mother moves up & still if it stays stagnant, I will also have to cut loss on CA too.....remember CA has still got 2 months to live & if you notice CIMB, the issuing house, keeps throwing downwards since 4 cents...that day CIMB throw down purposely to 3 cents from 4 cents even when mother moves up 1 cent. Then 2 days later from 3 cents to 2 cents at the last call , yesterday throw down to 1.5 cents....all these to kill son CA.....so it doesn't seem good as there is no support in buying unless mother shoot high up.

Brother Eagle95, I leave the decision to you as to hold or to cut loss...do this after you had give it some serious thought....thank you.

At the moment, DJI is in the positive territory with gains of about 90 points & if it stays in this manner, then we are to see ECM move higher today perhaps...as always decision is always yours alone.

Bumper dividend for ECM Libra shareholders


KUALA LUMPUR: Shareholders of ECM Libra Financial Group Bhd could be in for a bumper dividend after the group’s RM890 million disposal of its investment banking and securities business to K&N Kenanga Holdings Bhd.

According to financial executives close to the situation, ECM Libra is expected to distribute the cash proceeds from the divestment to existing shareholders in the form of a special dividend of at least 60 sen per share

Company executives declined to comment, but financial executives close to the situation said the agreement on the disposal of the financial business to K&N Kenanga could be signed as early as tomorrow.

ECM Libra announced last week that it had received approval from the Ministry of Finance to proceed with the disposal of its investment banking and stockbroking operations to K&N Kenanga. The crucial green light came eight months after Bank Negara Malaysia (BNM) gave the two financial groups the approval to commence merger negotiations.

The details of the proposal have yet to be announced by both parties. But financial executives told The Edge Financial Daily that K&N Kenanga’s purchase of ECM Libra’s financial interests would be funded through a combination of cash and the issue of new shares and loan stocks.

The cash proceeds will come from deposits that ECM has placed with BNM as part of the capital requirement for an investment bank. The divestment will free up the RM500 million tied up with BNM.

Based on a share capital of 830.9 million shares, the RM500 million will translate into about 60.17 sen per share. ECM Libra’s share price closed at 79 sen last Friday at a substantial discount over its net asset value of RM1.23 per share as at Jan 31.

Over the past two financial years, the ECM Libra board has been generous in its dividend payouts.

In March, the board declared a single-tier dividend of 2.4 sen per share, representing a payout ratio equivalent to 63% of the net profit for FY12 ended Jan 31. In FY11, the financial group paid dividend per share of 6.55 sen on earnings per share of 8.01 sen, representing a payout ratio of about 82%.

For FY12, ECM Libra’s net profit fell by more than half to RM31.5 million or 3.84 sen per share from RM65.2 million or 8.01 sen per share a year ago. Revenue came in lower at RM178.28 million against RM218.3 million.

The group attributed the drop in earnings to the sharp contraction in its securities business.

However, ECM Libra noted that it managed to gain traction in growing its stockbroking business and reported a higher net brokerage of RM47.3 million for FY12 compared with RM44.2 million before.

Yes, brother JimYeoh , quite confident there's more to come tomorrow & if DJI is in the positive, then perhaps ECM may move to 90 cents, hopefully off course, hee, hee,, hee

very very correct brother lam622622622. In fact I keep buying & buying everyday & wait for the Bonanza.

Yes, hw0706 , you are 100% correct as Tan Sri Azman of Amabnk will not sell cheap, that's for sure...it is going to be between $1.10 to $1.20 cents.

How much profit margin can you get from Kenanga shares?

Brother messiBarca , just buy & wait lah as people are still not sure about the merger price of ECM shares but from my sources it definitely not less than 60 cents cash, 16% of it in Kenanga shares & the rest in loan stocks. As people are still not too sure about the price, they prefer to wait & see but if the announcement says that it's $1.10 to $1.20, then they chase like a mad dog, hee, hee, hee

So anytime this week they are going to make the announcement.

By next week I will be getting some news from CEO's office...hopefully good news will be coming...cheers.

No brother nubhan , you are wrong..it's between $1.10 to $1.20

Today in The Star, anytime this week they will announce the merger price ....according to most sources it's at $110 to $1.20, so there's still about 30 cents profit margin.

Yes, brother jacklew , it's going to follow that way & if mother WCT got the KL Financial Center project worth billions, it will fly.

So go for it my friends.

I feel someone is collecting by pushing down mother. So buy son WB first in large volume and then goreng mother. Automatically then son naik kuat kuat dan untong banyak2.

maybe tomorrow at 90 cents?...hee, hee,, hee