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maxcty ( Date: 12-Feb-2010 16:47) Posted:
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Why is the Exchange allowing so many of such time-bombs to be listed in the first place? Is this the unavoidable consequence when one privatised an organisation and tasked it with a profit mission?
Thanks goodness, I merely did a study on the company but decided not to buy into it based on some silly reasons such as "most S-chips are not reliable" and "if it is good, it should not be trading at 30 cents in a hot market".
Goodness, what a narrow escape!
haha..i am one of the holders...lucky not much lot inside...
can check, if kana suspend...all our $$ locked inside??
freeme ( Date: 12-Feb-2010 16:46) Posted:
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bombeepbeep ( Date: 12-Feb-2010 16:41) Posted:
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i also never think it will kena suspended...
although i find everything v fishy...
jackjames ( Date: 12-Feb-2010 15:52) Posted:
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for this suspended..then what about those who still holding the shares???
any info?
because i never expect it suspended !!!
anyway, i am leaving now, balik kampung... wish everyone happy new year... !
jackjames ( Date: 12-Feb-2010 15:33) Posted:
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Oh no, SUSPENDED !!!!!!
just like another s-shares... like celestrial !!! who is next ????!!!
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China Milk Products Group Limited (CMILK SP; Suspended) |
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Company requested for a trading suspension. |
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This morning, the company announced that it does not have sufficient funds outside the PRC to effect the early redemption and is accordingly in ‘default’ of its repayment obligations. |
melchamp ( Date: 12-Feb-2010 09:56) Posted:
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albeniz ( Date: 12-Feb-2010 14:55) Posted:
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delist still not too bad cos some money will be return... if suspend for few year mean money "locked up" for that few year...
my 2 cents...
albeniz ( Date: 12-Feb-2010 14:55) Posted:
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How long are they allowed to hold on to the "suspend" status? Indefinitely?
Will they be required to delist if they "suspend" for too long?
UPDATE ON EARLY REDEMPTION OF US$150,000,000 ZERO COUPON CONVERTIBLE BONDS DUE 2012 (THE "CONVERTIBLE BONDS") PURSUANT TO THE TERMS AND CONDITIONS OF THE CONVERTIBLE BONDS (THE "TERMS AND CONDITIONS")
We refer to the announcement released by China Milk Products Group Limited (the
The Board of Directors (the "
the Company does not currently have sufficient funds outside the People’s Republic of China ("
the Company is currently exploring different options with a view to meeting its funding requirements for the purposes of the Early Redemption. It should be noted that any remittance of funds out of PRC entails a series of procedural steps and regulatory clearances, in respect of which the Company is currently unable to gauge the length of such a process.
The Company intends to engage the holders of the Convertible Bonds in attempting to work out a mutually acceptable arrangement concerning the Early Redemption, after it has obtained clarity on the most appropriate course to take in meeting its payment obligations relating to the Early Redemption.
The Board would also like to confirm that at this juncture, it has not appointed or engaged any advisers (legal or otherwise) in connection with matters relating to the Convertible Bonds and the Early Redemption. The Board will inform Shareholders if and when such appointment or engagement is made.
We will provide further updates via announcements, as and when appropriate.
Shareholders and potential investors are strongly advised to exercise caution when dealing with the shares of the Company, particularly, in view of the default by the Company in meeting its payment obligations under the Convertible Bonds on time. When in doubt, Shareholders and potential investors are advised to seek independent advice from their bankers, stockbrokers, solicitors or other professional advisers. "Company") on 5 January 2009 in relation to the early redemption of the Convertible Bonds (the "Early Redemption"). Board") would like to provide Shareholders with a further update as follows: PRC") to effect the Early Redemption and is accordingly in default of its repayment obligations under the Terms and Conditions;
CHINA MILK PRODUCTS GROUP LIMITED
LIU HAILONG
CHIEF EXECUTIVE OFFICER
12 February 2010