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Teledata turnaround to profitability is the undiscovered story. Support level at 0.012. Looking to put on more positions for medium term run up. Look to exit at 0.02. Huat ar!
Vested.
teledata, another hot penny to participate in rotational micro penny theme play
Current price 0.013
Cheers!!
pm me if u want more details
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_23C07B1157523E1848257A32003E7AB2/$file/Cessation_Legal_Proceedings_050712.pdf?openelement
The Board of Directors wishes to announce that Mr Pan and the Company have reached an amicable
settlement in relation to the Suit, whereby Mr Pan will withdraw and discontinue the Suit and the
Company will discontinue its counterclaim against Mr Pan in the Suit (the
Settlement is not expected to have any material financial impact on the Company for the financial year
ending 31 December 2012.
thomasholh ( Date: 20-Apr-2012 20:45) Posted:
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Teledata pledges
cooperation in probe
SINGAPORE
In a stock exchange filing, Teledata said it received a notice from the CAD on July 5, requiring its assistance in a probe for an offence under the Securities and Futures Act.
The CAD requested that Teledata provide information and documents on several transactions and correspondence between August 2009 and March 2010.
These include the proposed acquisition of PT Centrin Online TBK, purchase of the companys shares by Calypso Management Holdings and emails involving Mr Christopher Michael Pan, the former chief executive officer of Teledata.
The CAD also requested for a list of Teledatas company directors, management personnel and corporate secretary.
The company was told to provide documents relating to its stock exchange filings between Oct 29, 2009 and Dec 22, 2009, and submit its board of directors resolutions and minutes of meetings from August 2009 to March last year.
Teledata said that the documents requested pertain to the its previous board and management and that none of its current staff are under investigation.
Mainboard-listed Teledata has pledged full co-operation in an ongoing investigation by the Commercial Affairs Department (CAD) the details of which were not disclosed.lOOks lIke
HDB has nO fUtUre ? ? ? ?
StockGuru ( Date: 19-Jan-2010 18:30) Posted:
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nOw it is S$0.035 ? ? ? ?
What happened ? ? ? ?
StockGuru ( Date: 13-Jan-2010 20:06) Posted:
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Teledata sued by ex-CEO
Jo-ann Huang
joannhuang@mediacorp.com.sg
SINGAPORE
Teledata has been sued by its
former chief executive officer
Christopher Michael Pan for alleged
wrongful termination of
his employment.
In a filing to the Singapore
Exchange yesterday, the company
said that it received the
writ of summons from Mr Pan
on Sept 9, with a claim for
$1.3 million.
Teledatas board of directors
said the company would
be contesting the claim vigorously
and would be filing a
counterclaim.
The company had previously
received a letter of demand
by Mr Pan on Aug 20.
In that letter, he had
claimed $1.3 million for alleged
wrongful termination of his
employment, unspecified compensation
for damage allegedly
caused to his reputation, an
apology and an indemnity for
his legal costs and expenses.
Mr Pans termination was
announced on June 18. This was
after he was voted off by a majority
of shareholders, representing
71.6 per cent of shares,
at Teledatas annual general
meeting held on April 30.
Teledata said Mr Pan was
terminated on the grounds
that he has committed acts
tending to bring the company
and/or himself into disrepute.
He was appointed as CEO
in November last year, also taking
over chairmanship duties
from Mr Quek Chek Lan.
Separately, the company
announced yesterday the appointment
of three new directors
to its board. Ms Irene
Valencia Goutama has been
appointed as a non-executive
director and Mr Lim Soon Hock
and Mr Husni Heron as independent
directors.
The company added that
Mr Wee Phui Gam had quit as
an independent director.
His resignation came after
executive director Mr Rayson
Hazra quit in August. Managing
director Mr Howard Kim
will also be stepping down on
Sept 30.
Mr Lim Jit Siew, chief financial
officer of Teledata, is currently
the only executive director
left on the board. He remains
despite previous attempts by
major shareholder Meritus Resources
to remove him.
Teledata shares rose half
a cent to 3.5 cents yesterday,
giving it a market capitalisation
of $42.7 million. The company
had reported net losses
of $2.5 million for its half year
period ended June 30.
Jasper6 ( Date: 12-Jan-2010 14:34) Posted:
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stkoh78 ( Date: 11-Jan-2010 19:02) Posted:
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Faster vest guys! Now price at 0.07-0.075 is a good time to vest. It's consolidating for a bull run!
♦ Part of the proceeds is intended to fund the proposed acquisition of a 77.7% stake in PT Centrin Online Tbk
SINGAPORE – 5 January 2010 – Mainboard-listed Teledata (Singapore) Limited 电 数据有 限公司 ("Teledata" or the "Group"), a leading regional IT systems integrator and communications services company, is in negotiations to line up a substantial equity line of credit to fund its growth and expansion in the region.
The Group announced today that it has entered into a non-binding term sheet with GEM Investment Advisors, Inc. ("GEMIA"), whereby under a proposed arrangement with GEMIA and GEM Global Yield Fund ("GEM Global"), GEM Global is to make available funds to Teledata of up to S$35 million. The proposed arrangement and the availability of the equity line of credit are subject to the parties subsequently entering into the definitive documentation for the transaction. Negotiations towards the same are now underway.
GEMIA and GEM Global are members of the Global Emerging Markets Group ("GEM"), a US$3.4 billion alternative investment group that manages a diverse set of investment vehicles across the world.
"We are pleased with the results of our initial negotiations for this equity line of credit with GEM, which has an important benefit of being discretionary and will enable Teledata to quickly capitalise on opportunities for the expansion of our business and future growth. This arrangement will provide us with a flexible option to raise capital in a cost competitive manner. We look forward to GEM’s entry into our company as they bring with them a strong track record in private equity investments around the world. This proposed transaction is evidence of the potential GEM sees in Teledata," says Mr Christopher Pan, Chairman and CEO of Teledata.
For a start, part of the proceeds from the proposed facility is intended to be used to fund its proposed acquisition of a 77.7% stake in a leading Indonesia-based internet service provider, PT Centrin Online Tbk ("PT Centrin"), announced last week. The cost of this acquisition is around S$17.2 million.
On completion of the proposed acquisition of PT Centrin, some of the proceeds from the equity line of credit are intended to be used towards the working capital and capital expenditure of PT Centrin, including to assist, in particular, its broadband business.
"And of course, some of the proceeds will be earmarked for acquisition opportunities of other system integrators in Asia," notes Mr Pan. Any balance of the proceeds is intended to be used to strengthen the Group’s internal cash flow position.
Under the proposed arrangement, Teledata may at its sole discretion and subject to the terms and conditions of the definitive documentation, over a period of up to three years of the signing of the definitive documentation, require GEM Global to subscribe for ordinary shares in Teledata of up to an aggregate sum of S$35 million.
Teledata will control the timing of subscriptions to be made (by way of draw down notices to GEM Global), and is not obliged to utilise all of the funds that have been made available.
The subscription price of the ordinary shares will be based upon a price equal to 90% of the average closing trade price during the 15 consecutive trading days following a draw down notice.
GEM will covenant not to hold in excess of 9.9% of the outstanding issued share capital of the Company.
Subject to legal and regulatory compliance (as necessary and including the grant of shareholders' approval, if required), Teledata also intends the issuance to GEM Global of up to 220 million 5-year warrants convertible into shares at S$0.095 each. The warrants, when exercised, will generate an additional S$20,900,000 in funds for Teledata.
Since Mr Pan came onboard in early November, the Group has been undergoing an extensive corporate restructuring to streamline its operations and improve operational efficiency, in an effort to better position the Group for new growth. A new senior management team comprising IT veterans has also been put in place.
Besides restructuring its operations, Teledata has also been actively seeking opportunities to grow its business both organically and via strategic M&A deals. The key focus is to enhance its products and service offerings, expand its customer base and widen its geographical footprint in the region.
About Teledata (Singapore) Limited
Listed on the Main Board of the Singapore Exchange in 1994, Teledata is a leading IT systems integrator and communications services company, unique for the depth of its capabilities and the dedication of its people. Its people are experts in the dynamic field of communications technology and excel at delivering customised communications services and solutions to its customers.
Founded in May 1976, Teledata has since grown to become a regional company with offices in 7 countries and customers in 14 countries throughout the Asia Pacific region. The Group’s clientele range from large enterprises and telecommunication carriers to small enterprises in varied industries, some of which have been the Group’s customers for over 30 years. To deliver best-of breed, advanced and flexible solutions, the Group partners over 50 world-class technology providers from around the world.
About GEM
The GEM Group (Global Emerging Markets), comprising GEM Investment Advisors, Inc. and GEM Global Yield Fund and their affiliates, was founded in 1991. The firm is a US$3.4 billion alternative investment group that manages a diverse set of investment vehicles across the world. GEM’s funds include: CITIC/GEM Fund; VC Bank/GEM Mena Fund; Kinderhook; GEM India and Banco Pine/GEM Funds. The scope of GEM Group’s activities and investment is both US domestic and international, across a broad spectrum of industries and transactional structures. The Group has completed more than 230 transactions representing investment in over 200 companies in 45 countries across the world. Investments of GEM Group usually involve engagement in shares. (www.gemny.com)