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i think there is a big different between their old method of non-underwritten.
now it is under written by UOBKH, that mean if somehow the 112 million is not fully subcribed , UOBKH will take the rest..
anyway, think about this, 112million of 0.1dollar is just small (very small) to UOB, only 11.2 million.
Ooo, hopes that act as a catalsyt to push China Sport share value up...
Alligator ( Date: 25-Jul-2009 08:09) Posted:
China Sports announced update on the rights issue, apparently Manager changed stand?
but UOBKH become underwriter, may be very soon report of BUY call will surface..
PROPOSED RENOUNCEABLE RIGHTS ISSUE OF UP TO 168,425,000 SHARES AT AN ISSUE
PRICE OF S$0.10 EACH ON THE BASIS OF ONE (1) RIGHTS SHARE FOR EVERY 4 SHARES
HELD AS AT THE BOOKS CLOSURE DATE (“RIGHTS ISSUE”)
The Board of Directors of China Sports International Limited (“our Company”) refers to our
announcement on 30 June 2009 (the “June Announcement”) in relation to the Rights Issue.
Capitalised terms used in the June Announcement shall have the same meaning in this
announcement.
In the June Announcement, we indicated that apart from the undertaking to subscribe for up to
56,500,000 Rights Shares entitlement by Mr Lin Shaoxiong, the balance of 111,925,000 Rights
Shares (“Committed Rights Shares”) were not underwritten and that our Company had, pursuant to
the Placement Agreement, appointed Stirling Coleman Capital Limited (“Manager”) to procure
subscriptions and payment for the Committed Rights Shares which are not subscribed by the
Shareholders under the Rights Issue.
We wish to announce that we have on 24 July 2009:
(i) mutually agreed with the Manager to terminate the Placement Agreement; and
(ii) entered into an underwriting agreement with UOB Kay Hian Private Limited (“UOBKH”) to
underwrite the whole of the Committed Rights Shares In consideration of UOBKH’s
agreement to underwrite the Committed Rights Shares, we will pay UOBKH an underwriting
commission equal to 4% of the aggregate amount of the Issue Price of the Committed Rights
Shares.
Save for the changes as described above, the principal terms and arrangement for the Rights Issue
shall remain as disclosed in the June Announcement.
By order of the Board
Lin Shaoxiong
Chief Executive Officer
24 July 2009
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China Sports announced update on the rights issue, apparently Manager changed stand?
but UOBKH become underwriter, may be very soon report of BUY call will surface..
PROPOSED RENOUNCEABLE RIGHTS ISSUE OF UP TO 168,425,000 SHARES AT AN ISSUE
PRICE OF S$0.10 EACH ON THE BASIS OF ONE (1) RIGHTS SHARE FOR EVERY 4 SHARES
HELD AS AT THE BOOKS CLOSURE DATE (“RIGHTS ISSUE”)
The Board of Directors of China Sports International Limited (“our Company”) refers to our
announcement on 30 June 2009 (the “June Announcement”) in relation to the Rights Issue.
Capitalised terms used in the June Announcement shall have the same meaning in this
announcement.
In the June Announcement, we indicated that apart from the undertaking to subscribe for up to
56,500,000 Rights Shares entitlement by Mr Lin Shaoxiong, the balance of 111,925,000 Rights
Shares (“Committed Rights Shares”) were not underwritten and that our Company had, pursuant to
the Placement Agreement, appointed Stirling Coleman Capital Limited (“Manager”) to procure
subscriptions and payment for the Committed Rights Shares which are not subscribed by the
Shareholders under the Rights Issue.
We wish to announce that we have on 24 July 2009:
(i) mutually agreed with the Manager to terminate the Placement Agreement; and
(ii) entered into an underwriting agreement with UOB Kay Hian Private Limited (“UOBKH”) to
underwrite the whole of the Committed Rights Shares In consideration of UOBKH’s
agreement to underwrite the Committed Rights Shares, we will pay UOBKH an underwriting
commission equal to 4% of the aggregate amount of the Issue Price of the Committed Rights
Shares.
Save for the changes as described above, the principal terms and arrangement for the Rights Issue
shall remain as disclosed in the June Announcement.
By order of the Board
Lin Shaoxiong
Chief Executive Officer
24 July 2009
China Sport now look like defensive stock of China......
Hope it start to wake up...........
That is a good news. Hope both China HX & China Sport investor huat ah............
richtan ( Date: 20-Jul-2009 18:44) Posted:
Not only is CSI bullish, so is Hongxin, as it had broke out of the bullish contracting triangle continuation patter n formed higher high n high low with a string of bullish indicators (see Hongxin thread)
dealer0168 ( Date: 20-Jul-2009 18:33) Posted:
| Hope China Sport will run like a bull (price moving up & up) on next few days onwards (like what RichTan say: China Sport is showing bullish bull-flag continuation pattern) |
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Not only is CSI bullish, so is Hongxin, as it had broke out of the bullish contracting triangle continuation patter n formed higher high n high low with a string of bullish indicators (see Hongxin thread)
dealer0168 ( Date: 20-Jul-2009 18:33) Posted:
| Hope China Sport will run like a bull (price moving up & up) on next few days onwards (like what RichTan say: China Sport is showing bullish bull-flag continuation pattern) |
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Hope China Sport will run like a bull (price moving up & up) on next few days onwards (like what RichTan say: China Sport is showing bullish bull-flag continuation pattern)
Fortunately China Sport wake up at last hr.
It is definitely not a bearish flag.
A bearish flag occurs in a downtrend with up-sloping channel, if u dun get wat I mean, google "Bearish Flag pattern".
In fact, looking at the chart, it is a bullish flag bcos it uptrend since 16/3 with a down-sloping channel since 18/5.
fartist ( Date: 20-Jul-2009 17:47) Posted:
Ok looking at it from the channel it does seem to me like a bearish flag?
"A flag is formed when parallel lines can be drawn through the peaks and the troughs in a correction (or a rally during a down-trend). The lines slope counter to the direction of the trend. The pattern is completed by a break outside the parallel lines."
I source it from http://www.incrediblecharts.com/technical/flags_and_pennants.php
Am i missing something out guys? Do tell me as I believe in learning every single day!
I remember once asking if china sports formed a bullish flag couple weeks back, and if i didn't remember wrongly you guys told me it isn't a bullish flag anymore but a down trend.
Thanks for sharing guys. |
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Ok looking at it from the channel it does seem to me like a bearish flag?
"A flag is formed when parallel lines can be drawn through the peaks and the troughs in a correction (or a rally during a down-trend). The lines slope counter to the direction of the trend. The pattern is completed by a break outside the parallel lines."
I source it from
http://www.incrediblecharts.com/technical/flags_and_pennants.php
Am i missing something out guys? Do tell me as I believe in learning every single day!
I remember once asking if china sports formed a bullish flag couple weeks back, and if i didn't remember wrongly you guys told me it isn't a bullish flag anymore but a down trend.
Thanks for sharing guys.
Agree with richtan
Like Ausgrouph, Volume as in the chart should be intrepreted differently.
However, again an increase in volume is needed to drive the price. Just my view...
Hi lsj840428,
Dun mind I correct your mistake.
It is definitely not a bearish flag.
A bearish flag occurs in a downtrend with up-sloping channel, if u dun get wat I mean, google "Bearish Flag pattern".
In fact, looking at the chart, it is a bullish flag bcos it uptrend since 16/3 with a down-sloping channel since 18/5.
lsj840428 ( Date: 19-Jul-2009 19:45) Posted:
yeah...totally agreed wif u...it could be another bearish flag....looking at the decreasing volume......the likelihood of breaking resistance 15 is getting slimmer...but, it did have one positive indicator which is macd showing positive sign...btw, dyodd.
fartist ( Date: 17-Jul-2009 22:55) Posted:
Dyodd, btw what happen to china retail sales earning report today?
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yeah...totally agreed wif u...it could be another bearish flag....looking at the decreasing volume......the likelihood of breaking resistance 15 is getting slimmer...but, it did have one positive indicator which is macd showing positive sign...btw, dyodd.
fartist ( Date: 17-Jul-2009 22:55) Posted:
Dyodd, btw what happen to china retail sales earning report today?
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I feel now FA could give us some light, I was expecting the retail sales report on china on the 17th but nothing came out? Possibly that could be a major factor to determine if it could break the 15cents or not.
15 cents is an historical resistance. Pull back is needed.
If I am not wrong the pattern in June has a special name(can't recall the name) indicating a fall is expected ahead.
Furthermore, the 2 highlighted regions are in different situation by comparing the momentum indicators.
If no external factor, CSI is likely to break 15 cents resistance.
Just my view...
Dyodd, btw what happen to china retail sales earning report today?
Like most counters, CSI lost momentum in the afternoon trade.
Mainly affected by European market. Moreover the strong resistance at 0.15 cents.
However, CSI landed at the historical support 0.14 cents. (not so bad) Tomorrow will be challenging. (My view)
See chart (for reference only)
Tmr china reporting its retail sales for the quarter, possibly would affect counters like this and hongx.
Ya, a disappointed day. It happened to most counters.
dealer0168 ( Date: 16-Jul-2009 19:19) Posted:
| profit taking day. No show fr CS today |
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profit taking day. No show fr CS today
