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TopGlobal
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mesz33
Veteran |
27-Apr-2014 18:49
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Then like dat they lose out on commission onli.. if they were to cover back at same price.. lol. How do u know if they cover back or nt? | ||||
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mesz33
Veteran |
27-Apr-2014 18:46
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I think its the sharks(Bbs) fighting it out among themselves.. lol.. dunno retailers can ride the wave a not before it crashes.. lol | ||||
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edwinjup
Supreme |
27-Apr-2014 18:43
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Most of them.already cover at loss.....
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mesz33
Veteran |
27-Apr-2014 18:33
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Oh no.. whoever shorted.. sure die.. lol.. cos if naked short and never cover on the same day.. the penalty is 2 bids higher 3 days later price.. hmm.. mayb will kena short squeeze.. lol | ||||
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capjack79
Member |
27-Apr-2014 16:39
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Shortists shorted over 40k lots at 0.9c. I think most if not all are not covered because the price mostly maintained at 0.9c since 3pm when the sudden surge happened. When the surge starts, about 34k lots done at 0.8c and the rest of the day almost 260k lots done at 0.9c.Does it mean anything? |
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mesz33
Veteran |
27-Apr-2014 13:03
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I also dunno.. lol bought in at 0.9c.. observing the previous spike up was in october.. 3 bids up the bbs exited.. this time maybe the same also.. thinking of selling back at 0.9c just lose commision charge nia.. | ||||
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Demostation
Supreme |
27-Apr-2014 12:25
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Not vested. But watching only. If vested must FIFO for this counter. Can go up fast, but can come down faster.
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edwinjup
Supreme |
27-Apr-2014 12:03
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This counter got a big share issues...11405m and.still got.lots of outatanding wrts.....think will undergo share consolidation soon...as sgx.might.implement mini 20c per share....maybe can.take.a.look after share.consolidation... | ||||
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mesz33
Veteran |
27-Apr-2014 11:31
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Demo bro.. u vested.. hmmm what is yr target price to exit? Lol.. | ||||
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mesz33
Veteran |
27-Apr-2014 11:22
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Like that i think i kena eaten up liao.. lol... hmmm i honestly do nt know much bout this stk.. bought cos of the unusual activity gg on.. wonder who is behind the big volumes..
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Demostation
Supreme |
27-Apr-2014 11:15
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Oh, just be careful when swimming with sharks.
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mesz33
Veteran |
27-Apr-2014 11:05
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Hmmm wats yr target price to sell for this stk? | ||||
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Demostation
Supreme |
27-Apr-2014 07:40
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Don' t go for long term in pennies. Too dangerous. For long term, go for good dividend counters and management with track records. |
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xiaofang_
Member |
27-Apr-2014 03:31
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Market cap as of current price $0.009 is only $102m. Cash on hand is $56m.. The two freehold projects are slowly being sold. Their cost is cheap, every extra unit is profits.. Indonesia market is huge.. (Pending approval) plus excellent Indonesia networks for the controlling stake holders. Very positive outlooks. Worth looking for longer term..
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xiaofang_
Member |
27-Apr-2014 03:24
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Monday AGM, maybe approve share buybacks.. Positive for coy. This small cap has $56m of cash!!!
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mesz33
Veteran |
26-Apr-2014 17:52
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Wait for news to be out then chiong.. lol... | ||||
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mesz33
Veteran |
26-Apr-2014 17:48
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Must be Bbs accumulating first.. | ||||
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xiaofang_
Member |
26-Apr-2014 00:18
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The acquisition will be: 2.2.1 in respect of the Consideration TGL Shares, based on the higher of the following values:(i) the market value of each ordinary share of TGL (&ldquo TGL Share&rdquo ) of approximately S$0.0078 based on the volume weighted average price (&ldquo VWAP&rdquo ) of the TGL Shares transacted on the SGX-ST on 9 December 2013 (being the full market day immediately preceding the date of this Announcement on which TGL Shares were traded on the SGX-ST) (&ldquo TGL Share Market Value&rdquo ) or (ii) the net asset value represented by each TGL Share of approximately S$0.0118, based on the unaudited consolidated financial statements of the TGL Group for the nine months period ended 30 September 2013 as announced by TGL on 12 November 2013 (&ldquo TGL Group 3Q2013 Results&rdquo ) that mean the share price will rise to $0.0118 and above??? If the deal goes thru??
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xiaofang_
Member |
26-Apr-2014 00:13
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Possible there are good news of Indonesia links that overflows the volume to sg?? The proposed company to be bought by Top Global: PT Suryamas Dutamakmur Tbk is an Indonesia-based property developer company. The Company&rsquo s business fields include general trading, construction and real estate as developer, contractor, planner and executive contractor of buildings, houses, roads, bridges, runways and other infrastructures. The Company is engaged in developing long-term housing projects, including selling of land and houses, operation of golf courses, country clubs and other resort facilities in Rancamaya, Bogor. Its projects include Rancamaya Golf Estate, Mahogany Residence, Bogor Balcony, Istana Bunga, and Harvest City. Its head office is located in Jakarta, Indonesia.
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xiaofang_
Member |
26-Apr-2014 00:05
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Date & Time of Broadcast 10-Dec-2013 19:39:30 (Company Registration no. 198003719Z) 1 ANNOUNCEMENT PROPOSED ACQUISITION OF A 71.52 PER CENT. EQUITY INTEREST IN PT. SURYAMAS DUTAMAKMUR, TBK. 1. INTRODUCTION 1.1 Acquisition. The Board of Directors (the &ldquo Board&rdquo ) of Top Global Limited (&ldquo TGL&rdquo ) is pleased to announce that TGL has today entered into a conditional sale and purchase agreement (the &ldquo Agreement&rdquo ) with Asia Capital Holding Limited, PT. Surya Pembangunan Utama, PT. Niaganusa Indomakmur and Alera Financial Corp. (the &ldquo Sellers&rdquo ) and Madam Sukmawati Widjaja (&ldquo Mdm Sukmawati&rdquo ), pursuant to which the Sellers have agreed to sell, and TGL has agreed to purchase (the &ldquo Acquisition&rdquo ), 3,412,821,351 ordinary shares (&ldquo Target Shares&rdquo ) in the capital of PT. Suryamas Dutamakmur, Tbk. (the &ldquo Target Company&rdquo ) representing approximately 71.52 per cent. equity interest (the &ldquo Relevant Equity Interest&rdquo ) in the Target Company. Seller Percentage equity interest in the Target Company sold to TGL Asia Capital Holding Limited 55.71 PT. Surya Pembangunan Utama 11.27 PT. Niaganusa Indomakmur 3.00 Alera Financial Corp. 1.54 1.2 Subsidiary. The Acquisition is subject to and conditional upon various conditions precedent, including inter alia, the approval of the shareholders of TGL (&ldquo Shareholders&rdquo ) and the approval of the Singapore Exchange Securities Trading Limited (&ldquo SGX-ST&rdquo ). Following satisfaction or waiver (as the case may be) of the conditions precedent to the Acquisition, once the Relevant Equity Interest is legally transferred from the Sellers to the Purchaser pursuant to the Acquisition, TGL will own a majority interest in the Target Company and the Target Company will be a subsidiary of TGL and a member of the TGL group comprising of TGL and its subsidiaries (&ldquo TGL Group&rdquo ). 2. PRINCIPAL TERMS OF THE ACQUISITION 2.1 Agreement. Pursuant to the terms of the Agreement, the Sellers will sell and TGL will purchase the Relevant Equity Interest free from any encumbrances and together with all rights and advantages attaching to them as at the date of the Agreement (including the right to receive all dividends or distributions declared, made or paid on or after the date of the Agreement). 2 2.2 Consideration. The consideration for the Acquisition will be satisfied by the allotment and issuance of 13,000,000,000 ordinary shares in the capital of TGL (&ldquo Consideration TGL Shares&rdquo ) and 5,000,000,000 options issued by TGL which entitle the holder thereof to subscribe for new ordinary shares in the capital of TGL at an exercise price of S$0.008 (&ldquo TGL Options&rdquo ) to Mdm Sukmawati (&ldquo Consideration&rdquo ). The aggregate value of the Consideration given for the Acquisition is deemed, for the purposes of Chapter 10 of the SGX-ST Listing Manual and this Announcement, to be approximately S$152,951,535 calculated as follows: 2.2.1 in respect of the Consideration TGL Shares, based on the higher of the following values: (i) the market value of each ordinary share of TGL (&ldquo TGL Share&rdquo ) of approximately S$0.0078 based on the volume weighted average price (&ldquo VWAP&rdquo ) of the TGL Shares transacted on the SGX-ST on 9 December 2013 (being the full market day immediately preceding the date of this Announcement on which TGL Shares were traded on the SGX-ST) (&ldquo TGL Share Market Value&rdquo ) or (ii) the net asset value represented by each TGL Share of approximately S$0.0118, based on the unaudited consolidated financial statements of the TGL Group for the nine months period ended 30 September 2013 as announced by TGL on 12 November 2013 (&ldquo TGL Group 3Q2013 Results&rdquo ) and 2.2.2 in respect of the TGL Options, based on the difference between the TGL Share Market Value and the exercise price of each TGL Option.1 The Consideration was arrived at on a willing seller willing buyer basis after taking into account various factors such as the existing assets, financial position, indicative valuation and business prospects of the Target Company. The Consideration will be funded by TGL by the allotment and issuance of the Consideration TGL Shares and TGL Options to Mdm Sukmawati. 2.3 Conditions Precedent. Pursuant to the terms of the Agreement, the Acquisition is subject to and conditional upon, inter alia, the following conditions precedent (&ldquo Conditions&rdquo ) being satisfied or waived (as the case may be): (a) the passing at a general meeting of TGL (or any adjournment thereof) of resolutions to approve: (i) the purchase of the Relevant Equity Interest and (ii) the giving of authority to the directors of TGL to issue the Consideration TGL Shares and the TGL Options 1 There is no value ascribed to the TGL Options since the exercise price is higher than the TGL Share Market Value. 3 (b) the approval of the SGX-ST having been obtained for the listing, quotation and trading of the Consideration TGL Shares and the TGL Shares to be issued by TGL pursuant to the exercise of the TGL Options on the Main Board of the SGX-ST, and, where such approval is subject to any condition, such condition being complied with on or prior to the closing of the Acquisition (&ldquo Closing&rdquo ) (c) no event which has or is likely to have a material adverse effect on the turnover, profitability, financial or trading position or prospects of the Target Company, not being an event affecting or likely to affect generally all companies carrying on similar businesses in countries in which they carry on business, has occurred prior to Closing (d) the completion of due diligence investigations of the Target Company and its subsidiaries (which excludes for the avoidance of doubt the Sellers) (each, a &ldquo Group Company&rdquo ) by TGL and its respective professional advisors and consultants and the results thereof being satisfactory to TGL at its sole discretion (e) the approval of the SGX-ST having been obtained for the purchase of the Relevant Equity Interest by TGL, being a &ldquo very substantial acquisition&rdquo under Chapter 10 of the Listing Manual of the SGX-ST, and, where such approval is subject to any condition, such condition being complied with on or prior to Closing (f) the warranties and representations given by the Sellers under the Agreement being true, accurate and not misleading at Closing (g) there being no law or regulation adopted or coming into force after the date of the Agreement which makes unlawful or otherwise prohibits the sale or purchase of any of the Relevant Equity Interest to TGL in accordance with the terms of the Agreement and (h) where the terms of any contract entered into by a Group Company contain any right to terminate exercisable prior to or as a result of any matter contemplated by the Agreement or where the consent of creditors of any Group Company is required, written confirmation in a form and on terms (if any) satisfactory to TGL by the relevant counterparties and creditors, of the waiver of any such right to terminate. In the event that the Conditions are not fulfilled, satisfied or waived on or before 31 December 2014 or such later date as may be agreed between TGL, Mdm Sukmawati and the Sellers, each of TGL, Mdm Sukmawati and the Sellers has the right to terminate the Agreement in its sole discretion and no parties shall claim any rights against the other party, save for any claims arising from antecedent breaches of the Agreement. 4 3. RATIONALE FOR THE ACQUISITION Indonesia is one of the fastest growing countries in the region with a large population base. The Acquisition will allow TGL immediate access to the Indonesian property market and enhance its vision to be a leading property developer in the region. The Acquisition will also provide additional sources of revenue and diversify TGL' s existing business. The increased economies of scale are also likely to generate improvements in operational efficiency. 4. INFORMATION ON THE TARGET COMPANY 4.1 Target Company. The Target Company is a company incorporated in the Republic of Indonesia which develops real estate properties as well as sells land and houses in Indonesia. The Target Company also operates golf courses, country clubs, hotels, and other resort facilities in Indonesia. 4.2 Book Value. Based on the unaudited consolidated financial statements of the Target Company and its subsidiaries (&ldquo Target Group&rdquo ) for the nine months ended 30 September 2013 as announced by the Target Company on 4 November 2013 (&ldquo Target Group 3Q2013 Results&rdquo ), the book value (excluding non-controlling interests) of the Relevant Equity Interest is approximately Rp 1,579,993,266,000. 4.3 Asset Value. Based on the Target Group 3Q2013 Results, the net tangible asset value (excluding non-controlling interests) of the Relevant Equity Interest is approximately Rp 1,579,993,266,000. 4.4 Market Value. Based on the VWAP of the Target Shares transacted on the Indonesian Stock Exchange (&ldquo IDX&rdquo ) on 9 December 2013 (being the full market day preceding the date of the Agreement on which the Target Shares were traded on the IDX), the open market value of the Relevant Equity Interest is approximately Rp 930,566,956,215. 4.5 Net Profits. Based on the Target Group 3Q2013 Results, the profit before income tax, minority interests and extraordinary items attributable to the Relevant Equity Interest is approximately Rp 22,359,580,000. 4.6 Financial Summary. The summary financial information of the Target Company set out below is extracted from the audited consolidated financial statements of the Target Company for the financial year ended 31 December 2010 (&ldquo FY2010&rdquo ), the financial year ended 31 December 2011 (&ldquo FY2011&rdquo ) and the financial year ended 31 December 2012 (&ldquo FY2012&rdquo ). For more pls refer to sgx web. |
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