Stopped by the ATM to apply for the MIT PO of 2 for 25 and applied excess to round up to full lot.
Fingers crossed that I'll be allotted excess units to make up 1 lot.
New units start trading on 24th August.
Showing posts with label Rights Issue. Show all posts
Showing posts with label Rights Issue. Show all posts
Tuesday, August 16, 2011
Wednesday, July 6, 2011
Dapai International- postponing/?Canceling rights issue.
"The Directors wish to update Shareholders that the Company has had discussions with the
Singapore Exchange Securities Trading Limited regarding the proposed Rights Issue exercise and
understood that as the proceeds of the Rights Issue are intended to be used for a proposed
acquisition for which no agreement has been signed as yet and which when signed, will require
shareholders' approval, it is therefore pre-mature for the Company to carry out the proposed Rights
Issue exercise at this stage.
In view of the foregoing, the Company will postpone its plans for the proposed Rights Issue exercise
and will update Shareholders accordingly by way of announcement when and should it decide to
proceed with the rights issue exercise again."
Singapore Exchange Securities Trading Limited regarding the proposed Rights Issue exercise and
understood that as the proceeds of the Rights Issue are intended to be used for a proposed
acquisition for which no agreement has been signed as yet and which when signed, will require
shareholders' approval, it is therefore pre-mature for the Company to carry out the proposed Rights
Issue exercise at this stage.
In view of the foregoing, the Company will postpone its plans for the proposed Rights Issue exercise
and will update Shareholders accordingly by way of announcement when and should it decide to
proceed with the rights issue exercise again."
Thursday, June 9, 2011
Dapai International- YET ANOTHER fund raising exercise.
Dapai International, a counter which I used to have and divested at a loss, has had an SGX annoucement here stating the 1 for 4 rights issue.
Dapai will be issuing new shares at $0.080 apiece, and the reason for it is
"the entire amount of the Net Proceeds of S$19.3 million for financing in part the potential
acquisition of a suitable target in the backpack and luggage business segment which the
Company is currently negotiating, or if the potential acquisition being unsuccessful, the entire amount of the Net Proceeds of
S$19.3 million will be used for the Group’s future expansion of sales and distribution
networks and channels as well as general working capital purposes."
I have to thank Heavens that I divested immediately after I felt something not right with this company. My reasons at that time here.
This Rights Issue is yet another reason to be wary of this company.
Dapai has a cash horde of over S$100,000,000, with negligible debt. Yet, it still begs shareholders for a mere S$19,300,000. In the words of Nick: " It is like a man who claims to have $100 in his pocket but need to beg for $19 to buy his favourite bag lol"" "
Look at the part of the SGX annoucement I bolded. Essentially, what Dapai is telling you is, should he fail to secure stock of his favorite bag, he will just keep the money in his wallet, thanks for your generosity :)
I emailed the IR in March 2011 to enquire why they did not pay a dividend. The IR replied they needed the cash for it's working capital. Yet, still need to beg shareholders for money again? Huh? Wu yiah bo?
Dapai will be issuing new shares at $0.080 apiece, and the reason for it is
"the entire amount of the Net Proceeds of S$19.3 million for financing in part the potential
acquisition of a suitable target in the backpack and luggage business segment which the
Company is currently negotiating, or if the potential acquisition being unsuccessful, the entire amount of the Net Proceeds of
S$19.3 million will be used for the Group’s future expansion of sales and distribution
networks and channels as well as general working capital purposes."
I have to thank Heavens that I divested immediately after I felt something not right with this company. My reasons at that time here.
This Rights Issue is yet another reason to be wary of this company.
Dapai has a cash horde of over S$100,000,000, with negligible debt. Yet, it still begs shareholders for a mere S$19,300,000. In the words of Nick: " It is like a man who claims to have $100 in his pocket but need to beg for $19 to buy his favourite bag lol"" "
Look at the part of the SGX annoucement I bolded. Essentially, what Dapai is telling you is, should he fail to secure stock of his favorite bag, he will just keep the money in his wallet, thanks for your generosity :)
I emailed the IR in March 2011 to enquire why they did not pay a dividend. The IR replied they needed the cash for it's working capital. Yet, still need to beg shareholders for money again? Huh? Wu yiah bo?
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