Transaction AVG today is 0.6285, total value RM 1.68 million.
Its higher AVG and more than 2X the value transacted yesterday which is support/accumulation AVG at 0.6218 with trade value rm841k.

Support price getting stronger close to 0.63 today with higher vol & transaction indicates the accumulation still continues. Price is tracing back to last Friday initial support opening price at 0.635 but the total vol that transacted from Mon-Wed this week is only 10millions compare to 38 millions on last friday.. This show theres still have more buyer holding to their units by difference of abt 28millions. + the 10million accumulation/support that comes in Mon-Wed AVG about 0.63.. for me its still +ve sign.

Buying seems good at 0.63 this morning.

Once get approval and complete RTO within 3 mths, TGOFFS new share price should be higher than RM1++ with the combine total assets & biz valuation.

Beside RTO with bourbon, TGOFFS also announced another proposal with Indonesian parties & their business partners to subscribe to MRPS to be issued by BNI which will enable TGOFFS participate in the net profit & dividen cash flow of the OSV vessels assets and subsidiary interest in BNI.
This will boost future dividen & profit. TGOFFS will have better access & capitalize on regional growth for more OSV in O&G biz oppurtunities in Malaysia, Indonesia & Asia Pacific.

Umairabd: Nice.. its good to know bourbon main company also confirm this RTO process.
Looks more +ve and convincing that TGOFFS and Bourbon really wants to make it a success.

"Bourbon Far East parent Bourbon has released a statement confirming earlier reports that it is in talks with Malaysia’s Tanjung Offshore to take over the company."

No big buyers to push up price 2day..seller selling lower price.
Support/accumulation AVG at 0.6218 with vol trade rm841k today.

At today closing, TGOFFS is abt 13% discounted from the proposal offer share price.

TGOFFS shares itself worth 0.708 base on the new share issuance price.
Bourbon will trade its ships for 33% of the TGOFFS new shares.
Once the M&A approval, TGOFFS + Bourbon shares value should be worth more than RM1.++
If right issues 1:1 at 0.708.. price before ex-date right issues will be > 1.42++

When staff sell off their ESOS.... share price will drop coz selling pressure unless theres a lot buyer tanking and buying up the price.

Ya.. some staff might vested their esos to get quick profit.
Staff normally will get esos company shares at below market trading price.
If they choose to exercise their esos rights, they can either
-sell immediately (avoid taking loans to buy the shares)
-buy and hold using own money (need to have cash in hand, or apply loan/salary deduction etcs.)
-reject the ESOS offer (those that don't want to tie to any work duration contracts)

Good example is during bad market correction times.

Staff get esos offer at low price as well..
Those staff who sold their esos shares only get little profit....
If they hold and wait till market & company stock recover .. they get more profit.

Company stock also announce plan for privatization .. goes thro proposal 1st..
Those staff who sold their esos share will follow the market trading price.
If hold till privatization approved and complete.. their esos selling price will be higher coz base on the offer price of the privatization.

ozzie75: Ya.. esos announcement 2day, tomorrow is the listing day.
Some staff cashing out for early duit raya.
Transaction low at abt rm566k for morning session.

Quite some retailers profit taking & exit early today most likely concern of high big players tat entered last Friday r contrarian. Absorption is good. Good to accumulate more at low price :D

http://www.kinibiz.com/story/stock-stalk/89476/icon-offshore-will-it-be-an-iconic-listing.html

Shareholders and management: Ekuinas Capital Sdn Bhd, subsidiary of Yayasan Ekuiti Nasional, currently owns Icon Offshore Bhd, with the group’s shares distributed among a few entities. At the moment, Hallmark Odyssey Sdn Bhd remains the largest shareholder of Icon Offshore Bhd, with 80.5% of the group’s shares under its belt, followed by Sempena Fokus Sdn Bhd, which holds a 7.6% stake. Then it comes to Dr Jamal bin Yusof alias Gordon Duclos, with a 6.5% stake, followed by Rahman bin Yusof holding 1.9% of the group’s shares.

The remainder 3.5% is held by a collection of minor shareholders. (most likely TGOFFS)

Wat?? non-compete clause ??

http://www.ogfj.com/articles/print/volume-5/issue-8/special-report/terminating-employment-when-a-non-compete-is-involved.html

http://humanresources.about.com/od/glossaryn/qt/noncompete_agreement.htm

Even court also favour employees situation. The courts interpret the employee's right to make a living as more important than enforcing the terms of a non compete.

Agreement enforce that not too restrictive in terms of length of time covered and the amount of territory covered. As an example, the 6 months to 2 years recommended earlier is rarely seen as too restrictive.

Some good example non-compete clause removed earlier:
http://www.news9.com/story/22029193/non-compete-clause-removed-from-aubrey-mcclendons-contract
==========================================================================
TGOFFS non-compete clause agreement with Ekuinas for 3 yrs ending mid of 2015.

TGOFFS already 2yrs+... sudah banyak lama.

When TGOFFS sold TKS at low price due to clearing its loss/debts to Ekuinas previously,
the osv rates is high during that time and Ekuinas doesnt mind sold off TGOFFS shares at lost to buy TKS. It benefited Ekuinas more than TGOFFS more so, with TKS, Ekuinas inject to ICON OFFS and
start its plan to list IPO value more than RM1 billion++.

Now latest valuation from Public Invest Research RM2.01 per share for the initial public offering (IPO).
http://www.thestar.com.my/Business/Investing/2014/06/04/Icon-Offshore-IPO-timely-PublicInvest-Research/

Hong Leong Investment Bank (HLIB) has valued Icon Offshore at RM2.08
http://www.thestar.com.my/Business/Business-News/2014/06/05/Analysts-give-higher-valuations-for-Icon-and-Boustead-Plantations/

Once IPO fully subscribed and open for public.. EKUINAS will be loaded with $$$$$$$$ so will be very thankful to TGOFFS instead
Abang adik biz... u hlp me make money.. sure I'll help u make money also la.. :D
Want to add sand into food bowl ?

Moreover the current proposal is just a RTO M&A activities, still need to get clearance and approval from several parties that involved. After approval, have right issues also.... takes time for TGOFFS to complete restructure M&A with bourbon in terms of shares dilution, assets and financial holdings
which will expected to swell to about RM1 billion also :D !

TGOFFS has not even start 2 compete in bidding for any OSV project yet also.
Non-compete clause? How to compete coz no TGOFF also dun have core OSV biz division yet.

ICON offshores IPO listing 25/6/14..

TGOFFS M&A with bourbon when can complete? 3 mths + right issues etcs..
Maybe after ICON Offshores listed.. Ekuinas make tons of money can or will buy the new TGOFFS shares back like last time.. 20% shareholdings or higher % :D

Still non-compete?
More like helping each other to make more $$$$$$$$.

Get the pictures? If cant.. I also cant hlp much..
=========================================================================
Above are just my own personal view on the current TGOFFS & ICON OFFS .

Those feel if the risk is too high, pls set own trading plan and do the right thing.. don't blame wrong announcement signal or my views.

http://www.bharian.com.my/bharian/articles/TanjungOffshoreakankuasai61kapalluarpesisirmenerusipengambilalihan/Article/?mutakhir=1

http://www.seatrade-global.com/news/asia/bourbon-confirms-talks-with-tanjung-offshore.html

If use TMI - AXIATA right issue example.
5 for 4 right issues based on fixed rm1.12
TMI's closing price 2.38 on ex-date.

Where as if TGOFFS right issues if fix at 0.708, 1 : 1
The price trading before closing should be around RM 1.42 or higher.
Shouldn't be far from ICON OFFSHORE IPO price at rm1.85.

After Bourbon inject RM500 million assets to TGOFFS.. TGOFFS valuation will increase before the right issues take place.

Need to get clear info on the right issue fix price.

Tanjung Offshore said upon the completion of the acquisitions, its chief executive officer Datuk Harzani Azmi would remain as company chairman. Harzani said the proposed acquisition was an indication that Tanjung Offshore was back in the game in a big way. "The whole company is excited over this proposed acquisition and for the growth prospects in the future," he added.

Bourbon management should be quite good or better. Have strong ties with international O&G biz n most important is can tap into PETRONAS billion RM contracts :D

The offer price 0.708 frankly abit low and disappointing. TGOFFS shareholders might reject and possible revise higher price. Since theres request for exemption to acquire all TGOFFS shares, as long bourbon managed to secure 33%, they can inject the vessels into TGOFFS once acquisition approved.

The remaining share price can go higher with anticipating the prospect of TGOFFS future and theres Right issue 1:1 after M&A complete. The right issue price haven't determined yet but theres possible higher price to attracts buyer to buy and subscribe more for TGOFF shares. It'll give existing shareholder option to buy TGOFFS share price at half from the closing ex-date. After right issues complete TGOFF price should move up strong with its new strength acquired in terms of $$$$ and assets.

Good example is TMI right issues and becomes AXIATA...
http://www.theedgemalaysia.com/features/4868-why-tmi-delayed-rights-pricing.html
After rights issues... there's NO looking back for the new AXIATA keep breaking new high and go higher.

Right issues close at RM 2.38.
After right issues price open higher at RM2.41 8/6/09... now trading highest RM 7.40 6/5/14

Can see Axiata chart:
http://klse.i3investor.com/servlets/stk/chart/6888.jsp

I bought TMI before right issues ex & later becomes Axiata.. good money but sold too early also :D

Sona proposal.. more debts, no detail breakdown of the production and profitability of the oil field it plans to buy into, pending approval also.

http://www.thestar.com.my/Business/Business-News/2014/06/07/Sonas-first-purchase-but-market-reacts-negatively/

Then u should have buy/swap more to TGOFFS instead buy more SONA yesterday to avg down.
Riding the horse rather than tanking falling knives.

Skybursa: If do proper research, analysis and have a good investment plan ... the reward chance is higher than risk.
===========================================================================

TGOFFS code: 7228... very good OnG no. :D

More news

http://www.themalaysianinsider.com/business/article/tanjung-offshore-emerges-among-most-active-on-acquisition-news

Published: 6 June 2014 | Updated: 6 June 2014 6:54 PM

Tanjung Offshore Bhd emerged among the most active counter today after the company announced its proposed acquisition of marine offshore business from Singaporean businessmen Farid Khan Kaim Khan, Bourbon Far East Pte Ltd and several Indonesian oil and gas players. At 5pm, Tanjung Offshore share price finished the day 3.5 sen or 2.69% higher at 65 sen with 38.14 million shares changing hands. Tanjung Offshore, in a filing to Bursa Malaysia yesterday, said the proposed acquisition would provide Tanjung Offshore an opportunity to capitalise on regional growth potential in the offshore vessels services industry.

It said the acquisition would be settled via an issuance of new shares that would eventually result in a reverse takeover of the company. In a statement today, Tanjung Offshore said the proposed acquisition would see the company acquire a majority equity interest in existing marine offshore businesses connected to Bourbon's operations in South East Asian and Australasian waters, operated by Farid Khan. It said the proposed acquisition also included the acquisition of vessels connected to Farid Khan and his partner's business operations in the region, especially Indonesia. A total fleet of 61 offshore support vessels (OSVs) are under consideration in the proposed acquisition, it said, pending all necessary approvals being sought. Once the acquisition is complete, Tanjung Offshore should emerge as a leading player in the region's marine offshore business.

Tanjung Offshore said it also proposed to offer new shares to Malaysian institutional investors and the general public and raise substantial funding for future growth prospects once the proposed acquisition was completed. In addition, it said the company would also enter into a proposed “partnership” business arrangement with Bourbon Group whereby any excess vessels under the company can be utilised throughout the Bourbon Group's global network of business relationships and vessel management. Similarly, if Tanjung Offshore was short of vessels in its region of operation, the company would have the first right of refusal on any excess vessels from the fleet of Bourbon Group, it said.

The partnership signified a strong collaboration between the company and Bourbon Group as it enabled the company to have access to Bourbon's newer ships equipped with latest technologies and improved efficiencies. Tanjung Offshore said upon the completion of the acquisitions, its chief executive officer Datuk Harzani Azmi would remain as company chairman. Harzani said the proposed acquisition was an indication that Tanjung Offshore was back in the game in a big way. "The whole company is excited over this proposed acquisition and for the growth prospects in the future," he added. – Bernama, June 6, 2014. -

Sona & SONA-WA now falling knife... those jump buy in now taking quite high risk also.

Skybursa: ur nephew n those ask buy SONA & SONA-Wa yesterda all kena burn 2nd round today..

RobertoBaggio: Pls read the official annoucement ..

http://announcements.bursamalaysia.com/EDMS/edmsweb.nsf/all/EFC0692C8194B51C48257CEE0041B233/$File/Tanjung%20-%20HOA%20announcement%20-%20Final.pdf

or read my comments with highlight copy & paste main point earlier...

Theres many process/procedures to complete the RTO.
RTO abt RM500million proposal need to go through approval from Bourbon, TGOFF, bursa & Etcs. completion within 3 mth starting from 5/6/14.

Today is only 1st day resume trading. Be patience abit...
====================================================

Closing with strong buy at 0.65 - 0.66.
Strong resistance at 0.65 broken and trending towards 0.66+ n higher bias.
+ve sign. AVG 0.6477

Big players already go in and buyer support also strong .

Excellent unrealized profit $$$$$$$$ currently.

Congrats 4 those who bought at cheap price :D
Enjoy and have a good weekend!

Ya.. suddenly skybursa tell me dun expect price to shoot up early, bourbon n analyst upgrade stock price :D Thought I've shared those info n view earlier.

OSV is gold mine .. Tats why Ekuinas want TKS and list ICON OFFS.
Pls read my posting... if still don't know where my footing on TGOFFS..
I oso duno what to say..

GiveMeFive Many impatient traders because the self request for suspension gave a wrong signal that something solid is going to happen :D. Day in and day out, listed companies have tons of proposals to announce, but only the "very materialized one" asked for suspension. Tgoffs is a "putting the cart in front of the horse".
===============================================
I'm replying his posting ....

Those with that thinking mostly r "new" traders/investors...they dun see the whole pics...
always greedy and panic.

That's my own personal view.

Can stock req suspension 4 RTO materialized without proper proposal and approvals?
Suspension 3 days with only RTO proposal gave wrong signal ?

Pls read bursa basic process on suspension and RTO process.

Yeah.. no1 know market behaviors..

If not confident with TGOFFS, pls do the right thing.
=====================================

With proposed new share issuance price at RM0.708.
TGOFFS price will move towards that price +/- in short term.
When get approval & rto mostly completed..
Price might be higher depends on market +ve response towards TGOFFS future price.

BIO OSMO not suspended with TGOFFS earlier already a indicator that its not involved .

BIO OSMO newsplay RTO is with Sarawak group ppl link with govt,
If theres official RTO n completed..the MD there can link up biz with TGOFFS maybe in later stage
merger/acquisition, etcs..

With TGOFF and Bourbon RTO proposal out, they will bz to complete it as best as possible.

I didn't mention name, there r so many traders/investors out there with diff thinking/view abt investment. and when comes to stock newsplay, announcement, suspension etcs..
Some r risk taker, some with good plan, some think -ve and
some just blame n complaint but don't know nuts.

Personally for me.. those who blame on wrong buy/wrong signals due to suspension with no solid /materialized outcome but only with proposal announcement on RTO are obviously "new".

Don't even know wats the RTO process/procedures... yet greedy coz set high expectation and panic when it turn out different from expectation.

They never blame themselves for not doing proper research n understd well instead.
Ultimately they are the one who made the decision to buy or sell... no force them to buy/sell also.

===========================================================

Now moving up 0.645... $$$$$$$$$$.

Okok: Harzani is MD for BIO OSMO, of coz have to play his role well...

BIO OSMO only newsplay... not yet suspend for RTO.. maybe takes some time.
TGOFF restructure & clean up also takes abt 2 yrs.

==========================================================

Okok: Dato Harzani cable very strong... he already build strong foundation at BIO OSMO..
Any biz contract connection link with other big boys .. he can hlp kautim for TGOFFS.

Yes, as NEC, he does not participate in the day-to-day management of the firm but he still can involved in planning and policy making, and can be included to lend prestige to the firm due to his standing in the biz.

Non-executive directors are expected to provides support and advice to GM/Directors, monitor and challenge the performance of the executive directors and the management, and to take a determined stand in the interests of the firm and its stakeholders. This position usually entails fulfilling a similar function on a number of ancillary board committee, as well as being a political figurehead of the company.

GiveMeFive:
Suspension gave wrong signal something solid to happen?
Only "materialized one" ask for suspension?

Those with that thinking mostly r "new" traders/investors...they dun see the whole pics...
always greedy and panic.

I see nothing wrong with the suspension announcement. They follow the right process.

Check whats the annoucement news 1st... for RTO of coz need proposal 1st... cant skip the process unless all the shares belong to same group of ppl and all the big shareholders already agrees, bursa regulator agrees, etcs... not like barter trade in stone age.

3 days suspension is normally 4 major deals that involves complicated proposals. U can try chk with ur experienced brokers or remisers. Its also to avoid stock price changes that affect the proposed new share price issues for the RTO. Must be fair to Bourbon group & TGOFFS .

Good example: U see what happen to BIO OSMO price when newplay abt potential RTO from Sarawak group... lol..

3 months period good for contra kakis to play many round, good for collection when price is low.
Price wont be cheap anymore after approval done,
Right issues when price is high.
Research house will revise new TGOFFS TP higher.

Those who collected earlier as recommended around 0.585+/- already in good profit & safety margin.

A lot impatient traders.. :D

Of coz it proposal 1st, proceed to get all the approvals needed to finalize it. That's why its stated within 3 months. About RM500million RTO... it wont be simple like buy house la..

APPROVALS REQUIRED

The Proposals are subject to the following approvals being obtained:

(i) the approval of the SC pursuant to the Equity Guidelines for the significant change in the business direction or policy of Tanjung;

(ii) the approval of the SC for the Proposed Exemption pursuant to the Code;

(iii) the approval of Bursa Malaysia Securities Berhad (“Bursa Securities”) for the listing of and quotation for the new Tanjung shares arising from the Proposals on the Main Market of Bursa Securities;

(iv) the approval of the Board and shareholders of Tanjung at an extraordinary general meeting to be convened;

(v) the approval of the Board of Directors of Bourbon FE and shareholders of Bourbon FE, or any other competent authority within the Bourbon Group, at an extraordinary general meeting to be convened (if required);

(vi) the approval of the Board of Directors, shareholders or any other relevant party of the respective BNI Shareholders at an extraordinary general meeting to be convened (if required);

(vii) the approval of the creditors and lender(s) of Tanjung, the Target Acquisition Portfolio and Bourbon FE (if required); and

(viii) the approval of any other relevant authorities, if required.

The Proposals are intended to be conditional upon and subject to the above approvals being obtained, in addition to the following:

(a) completion of due diligence on terms satisfactory to Tanjung;

(b) completion of due diligence on terms satisfactory to Bourbon FE;

(c) satisfactory legal due diligence clearance of HOA 2;

(d) the approval of the Vendor Group and the Board of Directors of BNI; and

(e) such other conditions precedent as shall be mutually agreed by Tanjung and the Vendor Group.

http://www.youtube.com/watch?v=53IuM5lOIUo

thefarside: If u think the risk is higher than rewards. Pls don't buy or SELL for others to buy.
Thanks. :D

einvest88: Tats why I say TGOFFS price will try catch up ICON OFFSHORE RM1.85.
Just need patient to go thought 3 mths of RTO process, right issues, etc ... price stable down will move towards RM 1++.

thefarside: Ekuinas non-compete clause expiring in mid 2015, can request for exemption like
bourbon request exemption to fully take over TGOFFS shares.
Mid of 2015 is just 1 yr away... RTO takes 3 mths to complete, right issues, etcs..
If TGOFFS not confident to proceed with RTO, they wont set up the proposal contract with Bourbon.
TGOFFS also have strong good ties with Ekuinas...

Buying queues looks great. $$$$$$$$$$$

TGOFFS price should move up around rm1++ after complete this RTO in mid-long term.
If stay around 0.708... its at highly discounted price compared to its peers :D
Even with right issues...price adjust will makes it even easier for ppl to buy & invest.
=========================================================================
Special issues new share price 0.708 (instant profit)

Right issues after end of 3mths (Bonus extra profit if price higher than 0.708)

After complete RTO with new core OSV biz (price should go up to match or high than its peers like Alam Maritim, Barakah, Icon Offshores, etcs all above RM1++)

Bourbon Asia give TGOFFS direct access to oversea O&G OSV biz as well. Bourbon is a well established company worldwide... one of the leader in offshore oil and gas marine services.

Market Outlook of Global OSV Sector
http://www.might.org.my/en/Event%20Documents/2%20-%20OSV%20Sector%20Malaysia%20-Capt.%20Tasripin.pdf

Dispose wavenet within 18 mths after RTO completion - (profit)
==========================================================================

I only copy paste some of the main points from the RTO proposal.
In my own personal opinion.This RTO will definitely benefit all TGOFFS shareholders if its successfully completed.

Those confident with TGOFFS future prospect with Bourbon giving boost to make strong comeback in OSV O&G biz should know what to do.

RATIONALE FOR THE PROPOSALS

The Proposed Acquisition will provide an opportunity for the Tanjung Group to capitalise on regional growth potential in the offshore vessel services industries servicing the oil and gas industry and to capture new opportunities in these sectors as the primary region of operations of the Target Acquisition Portfolio are in Malaysia, Indonesia and Asia Pacific.
Further, Tanjung is expected to benefit from FK and Bourbon FE’s experience in the global OSV/PSV/AHTS/workboat/crew boat/barge marketplace and its reliable cash flows from its contracts and concessions.

The Proposed Exemption is to facilitate and ensure the successful implementation the Proposed Acquisition and the Proposed Special Issue.

The Proposed Special Issue is to enable the Company to have immediate working capital upon the completion of the Proposed Acquisition.

The Proposed Rights Issue will provide an opportunity for the shareholders of Tanjung to increase their equity participation in Tanjung.

The Proposed Offering is undertaken to raise funds for Tanjung to pare down debts, undertake capital expenditure investments and to disburse expenses related to the Proposals.

The Proposed Increase in Authorised Share Capital and the Proposed M&A Amendments are to facilitate the Proposals.

The Proposed Group Reorganisation is to enable the Company to focus on its new core businesses, specifically, the provision of offshore marine services.

The Proposed Warrants Issue is to align the interest of FK (being the intended Group Managing Director) and key management personnel to be identified with the interest of the shareholders of the Company as the exercisability of the warrants will be based on the future market performance of Tanjung Shares.

5 June 2014
Tanjung and the Vendor Group have agreed to negotiate exclusively in good faith the detailed terms and conditions of the Proposals (as defined in Section 2 below) with the intention to finalise and enter into the relevant definitive agreements within three (3) months from the date of the HOAs or such other period as the parties may mutually agree upon.

The consideration sum for the Target Acquisition Portfolio will be determined later and will be satisfied by the issuance of such number of new ordinary shares of RM0.50 each in Tanjung (“Tanjung Shares” or “Shares”) where the said Shares will be issued at a fixed issue price of RM0.708 per Tanjung Share (“Consideration Shares”).

2.2 Proposed Special Issue
The Company proposes to increase the issued and paid-up capital of the Company upon the completion of the Proposed Acquisition by issuing such number of new Tanjung Shares at the same issue price as the Consideration Shares which has been fixed at RM0.708 per Tanjung Share, the quantum of which is to be determined upon the execution of the relevant definitive agreements (“Proposed Special Issue”).
The Company proposes to invite Bourbon FE, FK, the BNI Shareholders and Investment SPV (“ISPV”)1 to subscribe for new Shares where the consideration for the new Shares shall be satisfied in cash. The Company further proposes to invite the arranger of the Proposed Acquisition to subscribe for new Shares in the Company in consideration of the arranger’s fee. For the avoidance of doubt, none of the abovementioned invitees are existing shareholders of Tanjung as at the date of this announcement.

2.3 Proposed Exemption
As a consequence of the Proposed Acquisition and the Proposed Special Issue, the shareholdings of the Vendor Group and their parties acting in concert (“PACs”) are expected to be more than 33% of the enlarged issued and paid-up share capital of Tanjung upon the completion of the said proposals. In this regard, pursuant to Part III of Paragraph 9(1) of the Malaysian Code on Take-Overs and Mergers, 2010 (“Code”), the Vendor Group will be required to make a mandatory take-over offer to acquire all the remaining Tanjung Shares not already owned by the Vendor Group and their PACs.

2.4 Proposed Offering
Upon the completion of the Proposed Acquisition and the Proposed Special Issue, the Company proposes to undertake a proposed renounceable rights issue on the basis of 1 new Tanjung Share for each existing Tanjung Share held by the shareholders of Tanjung at the close of business on an entitlement date to be determined later (“Proposed Rights Issue”) and a proposed offering of new Tanjung Shares to investors to be identified (“Proposed Offering”). The amount of new Shares to be issued pursuant to the Proposed Rights Issue and the Proposed Offering will be determined prior to the execution of the relevant definitive agreements.

2.8 Proposed Group Reorganisation post Proposed Acquisition
Upon the completion of the Proposed Acquisition, the management of the Company will undertake a detailed review of the existing businesses of Tanjung and its subsidiaries (“Tanjung Group” or the “Group”) and may reorganise the existing businesses of the Tanjung Group within 18 months from the completion of the Proposed Acquisition.
The Company also proposes to dispose of its shares in 7 New Market Holdings Limited (formerly known as Wavenet Holdings Investments Ltd) by exercising its put option with HB Properties Plc

Proposal acquisition seems quite good... 3 months to complete this corporate exercise.
Once complete TGOFF will definitely become stronger to compete with other OSV like ICON OFFSHORE

TGOFFS share new value will be > RM0.708 or higher depends on market response towards this RTO.
(If nobody sell cheap)

Later if complete acquisition, propose 1:1 right issues + propose dispose Wavenet
within 18 months from the completion of the Proposed Acquisition. ( more $$$$ in)
=====================================================
ISSUE PRICE OF THE CONSIDERATION SHARES

The issue price of the Consideration Shares of RM0.708 was arrived at after taking into consideration the following:
(i) a premium of 15.7% to the 5-day volume weighted average market price (“VWAP”) of RM0.612 of the existing Tanjung Shares up to and including 2 June 2014, being the last full trading day prior to the suspension of its trading (“LTD”);
(ii) a premium of 39.6% to the audited consolidated net assets (“NA”) per existing Tanjung Share as at 31 December 2013 of approximately RM0.507; and
(iii) a premium of 36.9% to the unaudited consolidated NA per existing Tanjung Share as at 31 March 2014 of approximately RM0.517.
The issue price of the Consideration Shares is justified after taking into account the premium accorded to the issue price of the Consideration Shares to the 5-day VWAP up to and including the LTD, audited NA per Tanjung Share as at 31 December 2013 and the unaudited consolidated NA per Tanjung Share as at 31 March 2014

Lol.. consultation fees pls..

Skybursa: sona kena sell down. Ppl sell after news out.
Rm900 million.. ada money ka? macam tm case la..

Tgoffs also haf cash after sold tks....can use it to acquire oil rigs or other biz.

Mrbullocks: u haf to c the debts... tm haf to inject 900millions to p1.
P1 shares dilluted...tm spent big money... need some time to recover n c profit.

Bio osmo diff case.. sarawak group govt link ppl plan 2 inject 200milion assests to acquire
Bio osmo.. Tgoffs director already bought 28% shares so bio osmo can clear debts n clean.
Now if bio osmo link up with tgoff, tgoffs will get direct access coz md in bio osmo is dato harzani oso director 4 tgoff. If rto is successful, tgoff can use the rm200million assets in bio osmo.

For bourbon case.. rto via direct assests n shares swap. No money chg hand.
No dilution on tgoffs shares. Tgoffs will get higher valuation coz have more new assets.

Some good counters also run up till break RM1.. Fitters another good example..
Some patience...breakout failed several times n good opportunity for me 2 play contra.
Fitters gave highest profit for me this year. TGOFFS profit catching up close.
Hope will be higher and can break RM1 also in future.

THHEAVY TP RM1 ... already reached so big players cash out.
I also played THHEAVY bfr, in and out several times but last round cash out abit early.
Good profit. Swap to TGOFFS and also contra several times and get more than THHEAVY profit.

Hibiscus.. Tat stock rise up alot earlier and heavy sell down abt 40% 3 days continously even before Hibiscus requested suspension last year and when the announcement out
investor also get hit again kaw kaw... Oil rigs operation suspended... sure plunge.

Those playing SONA & SONA-WA have to becareful also .. dun chase too high coz SONA also empty shell.

TGOFFS... last year shoot up till 0.75 -0.775 coz newsplay buy rm1b oil rigs biz but TGOFF just announce only preliminary discussion and price drop back.

TGOFF price already consolidated for about 6 mths plus and have improves its biz outlook with +ve 2013 profits, acquired some good new subsidiary biz and set to get bigger.

Suspension comes from Affin investment on behalf of TGOFF. Any suspension that comes via investment bank normally involves Big $$$$$$ biz/ contracts or "Acquisition" for best interest of company and shareholders.

Can try compare with recent TM suspension end of March 2014.

TM requesting suspension via CIMB investment.
http://www.4-traders.com/TELEKOM-MALAYSIA-BERHAD-6491267/news/Telekom-Malaysia-Berhad--SUSPENSION-OF-SECURITIES-18158254/

http://www.theedgemalaysia.com/business-news/282219-tm-to-inject-fresh-capital-into-p1.html

U see Dato Hazani happy face..sure know good things will come.

Yesterday news.

http://www.thestar.com.my/Business/Business-News/2014/06/04/Tanjung-Offshore-suspended-Firm-may-see-injection-of-new-assets-and-return-to-OSV-business/

“The ‘rather long’ period of suspension of the company’s shares sends signals to the market that it was likely to have sealed a major deal,” he added.

“If a major deal comes through for Tanjung Offshore, it could change the fortunes of the company for the better,” an analyst said.
============================================================

Its either Bourbon RTO , Bio Osmo, take over foreign O&G company which have oil rigs, or secure new O&G big contracts.

Iching88: There was a private placement at 0.20 with the emergence of new big shareholders previously. U can try ask those expert guy in BIO OSMO forum topic for more info.
BIO OSMO not suspended together with TGOFFS.. its price also not moving much.

Anyway..since TGOFFS MD already become new big shareholder position in BIO OSMO.. so the next one should move is TGOFFS turn.

TGOFFS will resume trading on Friday.