Reach's management also all from Daya, and he suppose to be the unhappy party in Daya but not joined Reach pulak ? Really cannot see what their game here
Big MAN collecting the stock at 0.305 to 0.310.... looking at the big picture it is consolidation for next move... force selling is over and now is the time to buy buy and buy...I was in 200 lots on 0.310. will collecting more and throw it to me if you don't want !!!
The Company is expected to undertake a very substantial acquisition as well as fund raising exercise to part finance the said acquisition.
Pursuant to Paragraph 3.1(a) of Practice Note 2 of the Listing Requirements, the Company has requested for a suspension in the trading of its shares from 2:30 p.m. on 22 August 2014.
According to KLSE announcement, "The Company is expected to undertake a very substantial acquisition as well as fund raising exercise to part finance the said acquisition". So quite good news but downside may have to ask you for money so there may be a sell down. So Buy and keep long long or Sell and Run quick quick!!!!
Based on RHB RESEARCH - Date: 03/03/2014 "Daya Materials - FY13 Dragged Down By One-Off Event"
Making amends by 2Q14. 1Q14 will not see significant improvements from 4Q13, but we expect the situation to turnaround by 2Q14. Both DAYA’s vessels – Siam Daya 1 (SD1) and Siem Daya 2 (SD2) – have been deployed to the North Sea and will contribute throughout the entire 2Q14. This has been taken into account in our FY14/15 forecasts. We understand from management that it is also in talks with Technip Norge for the charter of a third similar vessel.
(I) PROPOSED ACQUISITION OF “SIEM DAYA 1” (II) PROPOSED ACQUISITION OF “SIEM DAYA 2” (III) PROPOSED PLACEMENT (IV) PROPOSED RIGHTS ISSUE (V) PROPOSED BONDS ISSUE (VI) PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL
On behalf of the Board of Directors of DMB (“Board”), Hong Leong Investment Bank Berhad (“HLIB”) wishes to announce that DMB had on 22 August 2014 entered into two (2) memoranda of agreement with Siem Offshore Rederi AS (“SORA”) for DMB or its nominee company to acquire the following vessels:
a Dynamic Positioning Class 2 (“DP2”) offshore subsea construction vessel known as “Siem Daya 1” for a cash consideration of USD140.0 million (equivalent to approximately RM444.1 million); and
a second DP2 offshore subsea construction vessel known as “Siem Daya 2” for a cash consideration of USD140.0 million (equivalent to approximately RM444.1 million) and an additional USD2.3 million (equivalent to approximately RM7.3 million) for a 50 metric tonnes active heave compensation 3,000 metres crane.
DMB had also agreed with SORA vide a letter dated 22 August 2014 in relation to the additional terms for the purchase of the said vessels.
In addition, on behalf of the Board, HLIB wishes to announce that DMB is undertaking the following proposals:
placement of up to 25% of the issued and paid-up share capital of the Company;
renounceable rights issue of new ordinary shares of RM0.10 each in DMB (“DMB Shares”) together with free detachable warrants to raise gross proceeds of up to RM230,000,000 before the exercise of warrants;
issuance of seven (7)-year redeemable convertible secured bonds of up to RM120,000,000 nominal value; and
increase in the authorised share capital of DMB from RM200,000,000 comprising 2,000,000,000 DMB Shares to RM500,000,000 comprising 5,000,000,000 DMB Shares and the subsequent amendments to the Company’s Memorandum and Articles of Association.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
IVAN2222
2,094 posts
Posted by IVAN2222 > 2014-08-21 21:03 | Report Abuse
2mrw is 22nd August 2014...memorable day^^