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The multi million question now is will this be another pump and dump.....
Yes, happy to see Contel receiving attention now....
ruready ( Date: 10-Sep-2013 12:55) Posted:
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Fly next non stop
Coming liao
This accumulation has been long , hopefully it can flip a few folds. So far this is the closest RTO on the table now.....
Bb is accumulate again,,,,0.069-0.071cts...I'm in again after sell my uni food
Looks like things are finally starting to move. 2 tranches in 2 days. Maybe tomorrow will have high volume again.
Tlc8888 ( Date: 04-Sep-2013 18:56) Posted:
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The second batch of Tranche 1 was subscribed today for another $500k cash. If price maintains like this, TCW's fund is enjoying a great bargain.
This single buyer is Advance Opportunities Fund that subscribed around 8mil at 10% discount off market price yesterday. Just nice out of S$500k divided by 6.3c. The lower the share price is, the more benefit AOF will gain in long run.
clonevil ( Date: 04-Sep-2013 00:02) Posted:
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Contel price is somehow depressed by somebody or somebodies for not going up. This will benefit Mr. TCW since his company can subscribe through the convertible loan at 10% discount off market price. So in this case at 7c, his company can buy Contel at 6.3c. I think it has been completed through the first tranche of 500k.
This buyer must have received some hint or inside reviews:)
clonevil ( Date: 04-Sep-2013 00:02) Posted:
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A single buyer accumulated at least 8 million shares or 1.5% of contel today *thumbs up*
When a Co has lots of cash and does capital reduction, they will return the cash to shareholders. For Contel, they don't have cash, instead they use the capital reduction to offset the accumulated losses incurred in prior years. Since they are incorporated in Bermuda, the paid-up capital issued has a par value, so now they are reducing the par value from 0.04usd to 0.01usd each without diluting any shareholding interest. Now with 500k cash, the Co can use it to pay for all necessary charges to fund the proposed acquisition, in this case, Yuuzoo. Hope the process can run smoothly and soundly managed. Cheers!
nqing87 ( Date: 02-Sep-2013 23:20) Posted:
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there should be a difference between capital reduction vs share placement.. share placement result in diluting of shares.. capital reduction shouldnt be leading to dilution of shares directly.. it is also not share split.. shall observe what market thinks about it
Aberdeen123 ( Date: 02-Sep-2013 23:04) Posted:
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Capital Reduction Effective Date will be on 18 September 2013.
We shall see the px reaction then.I am certain of my assumption.:)
first tranche of $500k notes issued
Thanks for the replies and learned something here...appreciate all bro effort here...
Is it after share consolidation fair value is approx 10 c ,than will be fine!.....
originally, i was also thinking the shares become diluted from 750million to 3 billion with capital reduction.. however, my broker told me that was not the case, and was explained as per what bro clonevil said.. if it is indeed diluted to 3 billion shares and available to public, the theoretical price would be affected..
Aberdeen123 ( Date: 01-Sep-2013 21:24) Posted:
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To add on to bro Tomique's contributions, the additional shares created that increase authorised capital to 3 billion shares of 1 cent each refer to authorised but unissued shares. Authorised capital refers to the total number of shares that a company's Memorandum of Association and Articles of Association allow the company to issue. Hence the resolution simply increases the number of shares that the company can issue BUT the number of issued shares have not been increased to 3 billion. The amount of issued and paid up shares remain at 555 million, which tallies with the 3 billion - 2.4 billion shares explained in the circular.
Of course, bro Aberdeen's point of the TP of 10cent being affected could be true but only marginally and depending on any actualy new share issue. Thus far, the only ones that we know of are the share issue to Stamford Law, Provenance Capital (i think) & now the 0% option notes (assuming the notes are eventually converted). No doubt, these new shares are likely to dilute share value but only slightly if you compare these new shares issue to the eventual one that will be issued to Yuuzoo to give them 85% ownership (ie. the 500+ million issued shares currently will only make up 15% of the new company's total shares). So based on my very brief estimate, TP of 10cent would be lower but should be only very slightly.
lets see how contel performs in sept