Yongnam   

Yong nam

jackjames. You sure now no entitlement?
Now is "CR", which mean "Cum Rights".
So if you hold the 10 lots or more until 14 Nov, you should have the rights.

ylhcck, "each Warrant carrying the right to subscribe for one (1) new ordinary share in the capital of the Company ("New Share") at an exercise price of S$0.25 for each New Share (the "Exercise Price"),"
So for 10 lots, will have 3 warrants, to be subscribe for 3 ordinary shares later.
Isn't it?

 

3 warrants x 0.03  to excise 1 share  + 0.25 will addup to 0.34 per share ... It is correct  ?? 

 

May I know when will they inform you if you want to buy the warrants?

 

no, you are not entitled.

 

If i am vested today, am i still entitled to the rights?

 

Renounceable non-underwritten rights issue by the Company (the "Rights Issue") of up to 366,574,743 warrants ("Warrants") at an issue price of S$0.03 ("Issue Price") for each Warrant, each Warrant carrying the right to subscribe for one (1) new ordinary share in the capital of the Company ("New Share") at an exercise price of S$0.25 for each New Share (the "Exercise Price"), on the basis of three (3) Warrants for every ten (10) existing ordinary shares in the capital of the Company (?Shares?) held

 

 

1	?Cum-Rights" period	1 November 2007 to 14 November 2007
2	"Ex-Rights" period	15 November 2007 to 19 November 2007
3	Record Date	19 November 2007 (5.00 p.m.)
4	Last day for Buying-In on a Cum basis unless extended by the Exchange	20 November 2007

 

The Board of Directors of Yongnam Holdings Limited (the ?Company?) wishes to announce that JIWA HARMONI OFFSHORE SDN BHD (?JHO?), a wholly owned subsidiary of the Company?s subsidiary, YNE Project Engineering Pte. Ltd., has commenced legal proceedings in the High Court of Kuala Lumpur against ISHI POWER SDN BHD (?ISHI?) seeking, amongst others, declaratory reliefs in respect of the notice of remedy dated 8 August 2007 issued by ISHI where they have claimed that they had overpaid JHO the sum of RM4,056,283 for the project known as CONSTRUCTION OF 3 X 700MW COAL-FIRED POWER PLANT AT TANJUNG BIN, JOHOR, MALAYSIA (the ?Project?).

JHO takes the position that there is no sum due and owing to ISHI and in fact, there are substantial sums due and owing by ISHI to JHO under the Project.

Despite having been informed of JHO?s position, ISHI has on 23 August 2007 demanded for payment on the following bonds provided by JHO:

1. UOB Advance Payment Bond No: 319FG040254 dated 29 January 2005 for the sum of RM2,175,000.00 (?UOB Advance Payment Bond?);

2. UOB Advance Payment Bond No: 319FG050054 dated 30 March 2005 for the sum of RM1,087,500.00 (?UOB 2nd Advance Payment Bond?); and

3. UOB Performance Bond No: 319PG050031 dated 25 April 2005 for the sum of RM1,087,500.00 (?UOB Performance Bond?) which was issued in replacement/substitution of the UOB 2nd Advance Payment Bond.

On 23 August 2007, JHO successfully obtained an interim injunction from the High Court of Kuala Lumpur, Malaysia restraining ISHI, its agent, servants or whosoever from calling and receiving on the UOB Performance Bond and from receiving any monies under the UOB Advance Payment Bond and UOB 2nd Advance Payment Bond.

On 26 September 2007, ISHI withdrew its demand for payment under the UOB 2nd Advance Payment Bond.

A decision on the case from the High Court of Kuala Lumpur, Malaysia is now pending.

JHO?s lawyers in Malaysia are of the opinion, based on the facts made available to them, there are reasonable prospects of succeeding in the above matter.

The Company will continue to make further announcement(s) as and when there are material developments concerning the above matter.

 

did yn give dividend before? i have a question as bloew mentioned?

if u have 1000share, and what's rights issue of warrants going to be. and how to buy and trade?

Never buy before  any warrant or rights. only know how load and unload stock .

 

Have to make shareholders happy too.
Else they will be kana bombarded during AGM.

 

Rasing fund to finance debt.  Isnt it true that the debt interest is typically paid out BEFORE dividends are paid?

 

agreed. anything below 0.40 is good catch.

 

Dow jones future drop 71 points, monday blood sea happens, anything below 0.39, just grasp, and apply for the right issue and win big...

Fiberchem is a good example to win the money easily through right issue.

 

Goldman Sachs

Unexpected capital raising; proposes rights issue of warrants

News

Yongnam Holdings announced a proposed renounceable rights issue of up to 367mn warrants. 50% of the proceeds will be used to finance a new debt facility of S$100mn (a transferable term loan facility and/or the issue of floating rate notes maturing in 5 years) and the remainder for mainly working capital and the Group?s investments. Yongnam Holdings will offer shareholders 3 warrants for every 10 existing ordinary shares at an issue price of S$0.03 and exercise price of S$0.25 per share, a 40% discount to the Oct 18 closing price. The rights issue should raise S$11mn if fully subscribed; assuming all warrants issued pursuant to the rights are exercised, this would raise S$91-92mn and potentially increase the share count by 30% to 1,588mn shares.

Analysis

The announcement came as a surprise to us given that Yongnam seems well funded after the two equity raising exercise in 1H this year and potential cash inflow (est. S$17mn) from the disposal of Springleaf Tower. We estimate that a successful rights issue and full conversion of all 367mn in-the-money warrants by 2008 could potentially lower 2008E/09E EPS by about 20% while improving gearing slightly to 0.46X from 0.51X.

Implications

While we believe that the potential dilution overhang could weigh on its near term performance, we think that positive newsflow on contract wins is likely to offset any share price weakness. We maintain that Yongnam could emerge as the frontrunner amongst the structural steelwork subcontractors in the Marina IR project given its leading market share and track record. We are putting our estimates and target price under review.

 

warrant issue? help advice on this, how to trade if you had the org.share on hands?

 

woh so fast.. by the way i'm not good in understanding warrant. so whats next???

 

juz announced warrant issue... check out in sgx announcement

 

yes. as mention before 0.395-0.415 and looking at 0.5-0.54 but also  looking at my point of chart for long high investment which hopefully can hit. you might need to re-chart your point to my guess level. try it you'll know the point is. might be the same...

I'm in some of this field before like marine, production, construction and serivce line.  as before info provided. I understand the position of whats coming up soon. you know that also laaa.

But the east and west 1 at high and 1 in problem. well lets that thing easy and leave it to god i'll just push the button and close the eyes .

 

 

 

You will think that after three sessions, a based would be formed at 0.41SGD.  Actung! There is still room to extend south as the stoch indicators are NOT even in oversold territory yet.

 

tempting to push the buy button today , but not. 

be careful  my friends. now uncomfort with volatility in the stock for US and China index might have another roller coaster or storm. If both came together, it'll be a big one this time. What do you think and advice?

US index still not up yet.

China share are at historical earnings and forward earnings high time.

Just my own point of view. Trade at your own risk.

 

ok, today yn closed @ 0.415 ...

coming to 0.39 soon?