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SIA
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tangoanna
Master |
02-Jun-2020 15:21
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The updated flight schedules mean that SIA has cut about 94 per cent of the passenger capacity which had been originally scheduled for June and July, pre-Covid-19. - Straits Times Most flights are still cancelled. Can' t be every announcement of 5% flight resumption up 20 cents? If that is the case SIA will be $8 when all flights resume. Next Monday will be a crucial day when all rights shares start trading. |
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Ratzky
Member |
02-Jun-2020 15:19
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I fully agree. Myself existing SIA shareholders, I exercised my stock rights but not the MCBs. I think there are more other better opportunities to buy there as compared to locking your money to the MCB
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nngeeh
Veteran |
02-Jun-2020 15:14
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The govt has already stated that the purpose of rights issue is meant to save the company and not for expansion ... we are talking about survival. SIA is raising 15 billions ..... if they raise it using via purely rights shares .... can you imagine the number of shares that they will need to issue and the impact on the share price. I guess the only way for the Govt to pump money into the company is via MCB.... To be fair to the directors .... which shareholders will want to have their money locked in SIA for 10ys without getting any interest back ... it' definitely noy beneficial to the shareholders. Just because they are directors .... unlike the govt who has the obligation to save our only carrier to ensure the transportation is still there to fly essential items into Singapore ... the directors are just like anyone of us who is working. I will not expect they to sacifice just because they are directors. It' s not really about really having faith or not ... who will want their fund to be locked for 10 yrs without knowing if they will still be SIA directors in the next few years.
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halleluyah
Supreme |
02-Jun-2020 15:04
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NO CONFIDENCE...situation might be a long drag till vaccine is found if not ppl might not take the risk to travel n some place might kena quarantine...
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turtletrader
Senior |
02-Jun-2020 14:45
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Disappointing to note most SIA' s directors opt not to subscrive for rights MCBs, while shareholders are encourage to subscribe...Need to have alignment of interest! | ||||
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Joelton
Supreme |
02-Jun-2020 14:37
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SIA directors opt not to subscribe for rights MCBs
MOST directors of Singapore Airlines (SIA) have chosen to let their rights mandatory convertible bonds (MCBs) lapse without exercising them, despite proposing the MCB rights issuance to shareholders as part of larger cash call in April.
SIA chief executive Goh Choon Phong let his provisional allotments in respect of 3.34 million rights MCBs lapse last week, according to a Singapore Exchange filing on Monday.
SIA non-executive chairman Peter Seah also let his allotment of 73,160 rights MCBs lapse last week, filings showed. However, both Mr Goh and Mr Seah have applied to take up all their rights shares, and their actual allocations will be decided at a later date.
SIA&rsquo s rights exercise involved the issue of 295 rights MCBs for every 100 SIA shares held. Each of the rights can be exercised at S$1 for one MCB.
The rights shares were issued on the basis of three rights shares for every two existing SIA shares owned by shareholders.
Other SIA directors that let their rights MCBs lapse included Gautam Banerjee, chairman of Blackstone Singapore, and Simon Cheong of SC Global Developments. Their provisional allotments were 20,945 rights MCBs and 20,266 rights MCBs respectively. That said, Mr Banerjee and Mr Cheong did subscribe for their rights shares entitlements.
Three other directors - David John Gledhill and Dominic Ho of DBS Bank as well as Lee Kim Shin, a managing partner of Allen & Gledhill - took up neither the rights shares nor the rights MCBs.
The Business Times understands that this may be because Mr Gledhill and Mr Ho count as foreign shareholders. The rights are not offered to shareholders with registered addresses outside Singapore.
A spoksperson for SIA said: &ldquo The SIA directors act in their personal capacity as shareholders, and we do not comment on their individual investment decisions.&rdquo
https://www.straitstimes.com/business/companies-markets/sia-directors-opt-not-to-subscribe-for-rights-mcbs#:~:text=SINGAPORE%20(THE%20BUSINESS%20TIMES)%20%2D,larger%20cash%20call%20in%20April |
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TheDuellist
Senior |
02-Jun-2020 14:32
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I also applied excess, even though I am not qualified. I bought all my Rights via market transactions. Just trying my luck, just in case... I think we will know before the Right Shares get listed on the 8th Check your CDP when the time comes
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Wasim_Trade
Senior |
02-Jun-2020 14:08
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nobody can tell whta would happen next week...it may go higher due many circumstances...those who want to enter for longterm may go a head and buy now...even if price goes down..do not care as long u invest for longterm
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limkt009
Master |
02-Jun-2020 14:08
Yells: "Watch your front, grab $$$$$$$$ at your own time" |
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Depend, how many excess u applied?
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kcowen
Member |
02-Jun-2020 14:06
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i applied some excess, but dont know whether can get or not.
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Huat1368
Veteran |
02-Jun-2020 13:52
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Higher risk that stock price will leverage lower after SIA R shares come on board. But no risk no gain...can't tell unless BBs supported it!!! | ||||
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limkt009
Master |
02-Jun-2020 13:43
Yells: "Watch your front, grab $$$$$$$$ at your own time" |
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Dont miss the boat, discounted tickets to get on board. Hurry. | ||||
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danger
Supreme |
02-Jun-2020 13:40
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But the rally shall end in few days ....
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Papason883883
Senior |
02-Jun-2020 13:38
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Airline related Super Wang now. Rocket 🚀 | ||||
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danger
Supreme |
02-Jun-2020 13:35
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I AM GOOD
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WinningHorse
Member |
02-Jun-2020 13:32
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The rights issued will crash SIA counter. Looking at the amount of converted shares, it will drag down the whole SIA counter. Be clear that the market news of opening is just market sentiment, the fact is no one will want to fly when other countries are not even stable. If profit now, should consider if to cash out and wait till next week and reassess the direction. | ||||
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Elf2000
Elite |
02-Jun-2020 13:28
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BBs are buying... | ||||
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stkystky
Member |
02-Jun-2020 12:41
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It is an ok time to buy then? Or wait till post 8th June | ||||
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TA_Expert
Supreme |
02-Jun-2020 12:28
Yells: "The World has changed" |
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Yes, all making money now.
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nngeeh
Veteran |
02-Jun-2020 11:56
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It won' t drop $1 in just 4 trading days ..... those who are lucky to get the excess rights will definitely be laughing to the bank.
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