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Dayen Environmental is making a placement of 12m new shares to raise about $6.5m in net proceeds. The company said it has entered a subscription agreement with Kam Yu, an executive director of Great Town Group, a group of companies established in Hong Kong and China. The placement price is $0.55 for each new share, a discount of 10% from the closing price of $0.61 cents for the stock on Wed. The new shares represent approximately 5.86% of the company's enlarged share capital.
The net proceeds will be used for the group's general working capital purposes and mining-related businesses and investments. Dayen said Great Town has extensive real estate developments and projects and sizable coal mining activities in China. 'The subscriber will also help the group seek strategic business partners in the China market and develop new business networks and channels in furtherance of the group's businesses in China,' the company added.
I queue up to sell half of my holding at 70.5 near closing and they give me 72.5. It is done at 17.05hr.
Dayen Environmental is diversifying into Indonesian coal, with an agreement that gives it the right to mine and export 5 million tonnes of coal for up to 7 years, it said yesterday. Projected gains from the coal over the duration of the deal could be up to US$250 million, according to a Dayen release.
Dayen yesterday signed an agreement with Indonesia-listed PT ATPK Resources TBK to purchase 50 million shares, or 6.09% of the mining company. The consideration for the shares is US$5.3 million, to be funded by internal funds and borrowing. In tandem with the acquisition, Dayen also signed an agreement with the Indonesian party that gives it the rights and immediate access to the coal mines. The mines have already been approved with all permits and papers ready, and work will begin shortly, said Dayen.
Dayen said it is 'riding on the increase in commodity prices and the strong demand for commodity-based resources, as the Indonesian energy sector grew 6% in 2007'. The group expects coal sales to start contributing to revenues from next Apr onwards.
PhilipSim
What good news you talking about? For the past 3 days STI go down, this counter goes up.
Notice that RSI and price starting to converge. Not vested.
Prices riding on good news. Look out for retracement soon. Especially since with the recession thing effecting STI, the retracement should be pretty steep.
Hi Winsontkl
Are you going for the AGM on 28 Dec morning? I receive the AGM book.
Climbing slowly and steady for the past few day and volume is also healthy.
Strong upward jump last couple of days.....
Today volume is high compare to the norm. at least some movement. After reading the report, they seem to be confidence about their Middle east project.
Dayen is a smallish player in the field. Maybe it is better to merge into a larger entity?
Placement by America Orient capital Partner at $0.38. They will not be able to sell the share within the next 6 months.
Recommended by my friend who is a senior position in the Stock market industry.
My initial position still stand and the TP in long term will be $1.50. Will like to go to their AGM in Dec 07.
Just saw from the SGX website announcement on 6 Nov 07 that they have won a project in china.
DAYEN ENVIRONMENTAL SECURES 30 YEAR BOT CONTRACT FOR SEWAGE TREATMENT PLANT IN XINMIN CITY, SHENYANG, PRC
Josephli, care to share what prompted you to buy the share in the first place......is the reasons still valid or is it just mere speculation???
profit warning again....... price so low at 35Cents.... when will it go up.....
My worst performing stock. maybe need to wait for two years.
Vic,
Can i know whether this stock has good FA?
Appreciate ur replies..
Thks.
Cheers,
Anything. =)
Up substantially on low volume, really??????
Anyone could explain the surge in its price today?
 Dayen |
0.600 | +0.075 | 386 | 5 | 0.585 | 0.600 | 20 | 0.620 | 0.555 |
Dear Go_francis,
That is called normal capital market!
New Projects =/= Gain ?!