Post Reply
1-20 of 2534
Fuji Offset Plates Manufacturing shares jump 67% after former Dyna-Mac CEO AC Lim buys S$4.5 million stake
As controlling shareholder, Lim will have the right to be appointed to the board
[SINGAPORE] It appears former Dyna-Mac chairman and chief executive Lim Ah Cheng &ndash better known in the industry as AC Lim &ndash is working his magic again.
Lim, who was credited with steering offshore oil and gas contractor Dyna-Mac from the brink of bankruptcy, has agreed to subscribe to 10 million new shares in Fuji Offset Plates Manufacturing (FOP) for S$4.5 million.
FOP primarily provides gravure printing cylinders products and related printing industry services in Singapore and Malaysia, as well as internationally.
The Catalist-listed company said in a regulatory filing on Thursday (May 29) that the issue price of the new subscription shares &ndash at S$0.45 apiece &ndash represents a 24.4 per cent premium to the last traded volume-weighted average price of S$0.3616 on May 26, before a trading halt was called pending the announcement.
After the trading halt was lifted, shares of FOP jumped 67.1 per cent or S$0.265 to close at S$0.66 on Friday &ndash even higher than the issue price of the new subscription shares.
Upon completion, Lim will hold a 16.7 per cent stake in the company. He is subscribing to the shares in his personal capacity, and not as a trustee or nominee for any other party, the company noted.
As controlling shareholder, Lim will have the right to be appointed to the board as either an executive director of FOP, or a non-independent and non-executive director of the company.
FOP said it expects the proposed subscription to strengthen its financial position and enhance flexibility to pursue growth opportunities.
Net proceeds of approximately S$4.35 million will be fully channelled towards business expansion, capital expenditure, and potential mergers and acquisitions.
For the full-year ended Dec 31, 2024, FOP reported a net profit of S$0.96 million, down 9.7 per cent from S$1.1 million the previous year. Revenue rose 10.7 per cent to S$3.6 million, from S$3.3 million the year before.
The company will seek shareholder approval at an upcoming extraordinary general meeting, with a circular to be dispatched in due course.
It will also apply to the Singapore Exchange Catalist for the listing and quotation of the new shares, and will make further announcements upon receiving regulatory approval.
Former Dyna-Mac' s Lim to invest in Fuji Offset Plates Manufacturing at 45 cents each for 16.7% stake
Lim Ah Cheng, the former executive chairman of Dyna-Mac Holdings, plans to invest $4.5 million for 10 million new shares in Fuji Offset Plates Manufacturing, controlled by executive chairman David Teo Kee Bock.
Lim left Dyna-Mac last December after Korean conglomerate Hanwha took control Teo is best known for leading the Super Coffee group and selling it to Jacobs Douwe Egberts back in 2013 for $1.45 billion.
At 45 cents each, the issue price is a premium of around 24.4% to the volume weighted average price of 36.16 cents per share for trades done on May 26.
Upon completion of the subscription, Lim will have a stake of 16.7% in the company.
" The board believes that the proposed subscription will augment and strengthen the group&rsquo s financial position and provide flexibility to capitalise on growth opportunities," reads the company' s announcement on May 29.
Fuji Offset Plates Manufacturing plans to use net proceeds of some $4.35 million to finance the expansion, growth, and development of the group' s businesses and operations.
This can be through capital expenditure, acquisition of strategic assets through mergers and acquisitions or by other similar
means.
On a pro forma basis, Lim' s investment would lift the company' s NTA as at Dec 31 2024 from 65.39 cents per share to 69.78 cents.
do u still missed the crowd? those were the memories
MrBear12 ( Date: 17-Nov-2024 18:55) Posted:
|
Yes UOB paid already yours if surrendered should be in also....
bernardc ( Date: 27-Nov-2024 21:45) Posted:
|
Your CHQ in the mail
ysh2006 ( Date: 23-Nov-2024 09:37) Posted:
|
Sell shares got pay commission and Sgx clearance fees take over don't have lah
GreenSprout ( Date: 23-Nov-2024 10:17) Posted:
|
It was announced on 20 Nov lah payment by 7 days so if by 27 don't have than can kpkb lah..
Wah thanks for the answer bro
I overseas working come back then saw that it got demister.
Panic mood started... lol...
Cause I didn't opt for the offer thingy..
But this one is the Koreans will buy back the shares from you even if u didn't opt right?
Pai seh ah really noob here
I overseas working come back then saw that it got demister.
Panic mood started... lol...
Cause I didn't opt for the offer thingy..
But this one is the Koreans will buy back the shares from you even if u didn't opt right?
Pai seh ah really noob here
ysh2006 ( Date: 22-Nov-2024 19:30) Posted:
|
No way Sgx empower them to force buy from you lah.. Game over already .
mopiko ( Date: 22-Nov-2024 19:03) Posted:
|
Anyone knows what happens if you didn't accept the offer?
Yes they announced offer close on 20 Nov : money will be paid 7 days after close...Acceptance level 86%.
stlimst ( Date: 18-Nov-2024 10:37) Posted:
|
HW/UOB has announced during the start of the offer that they have prepared sufficient fund to pay for shares acceptance.
So no reason not to pay shareholders who have accepted the offer quickly.
So no reason not to pay shareholders who have accepted the offer quickly.
MrBear12 ( Date: 17-Nov-2024 18:55) Posted:
|
There is no announcement yet on the exact date of payment.
But I don' t see why for those who accepted, we should not be paid NOW!
But given time is needed to prepare the monies, I should say within a few business days.
But I don' t see why for those who accepted, we should not be paid NOW!
But given time is needed to prepare the monies, I should say within a few business days.
Anyone know when we can receive our money for acceptance of offer.
Joelton ( Date: 16-Nov-2024 13:45) Posted:
|
Hanwha&rsquo s voluntary conditional cash offer for Dyna-Mac turns unconditional in all respects
This comes after the Competition and Consumer Commission of Singapore gives go ahead
THE voluntary conditional cash offer made by Hanwha Ocean SG Holdings to acquire all the shares of Dyna-Mac has been declared unconditional in all respects, following the satisfaction of the merger control condition.
In a bourse filing on Friday (Nov 15), UOB, for and on behalf of Hanwha, said that the offeror received a letter from the Competition and Consumer Commission of Singapore (CCCS) with the competition regulator&rsquo s assessment that the offerer&rsquo s proposed acquisition of Dyna-Mac would not infringe Section 54 of the Competition Act, if carried into effect.
The offer had previously turned unconditional on Nov 5 as to acceptances.
Hanwha, part of South Korea&rsquo s Hanwha Ocean, had then received valid acceptances for more than 554 million shares for its offer at S$0.67 per Dyna-Mac share, representing about 44.45 per cent of the total number of issued shares in the company.
But the offer remained subject to the satisfaction of the merger control condition, which refers to the offer being conditional upon the competition regulator having issued a favourable decision, in terms satisfactory to the offeror, during its preliminary assessment.
This would be in accordance with CCCS guidelines on merger procedures that the proposed acquisition of the company by the offeror will not infringe the provisions under Section 54 of the Competition Act 2004 of Singapore.
As at 6 pm on Friday, the offeror and its concert parties owned, controlled or have agreed to acquire &ndash including by way of valid acceptances of the offer &ndash an aggregate of 1,055,330,396 Dyna-Mac shares. This represents approximately 84.67 per cent of the total number of issued shares in the company.
The offer will remain open for acceptance until 5.30 pm on Nov 20.
Cccs okay the tramssaction..
The next question
..is DM Still good investmen?
Jimeagle ( Date: 16-Nov-2024 09:03) Posted:
|
Read this thread carefully.. referring to his earlier comment about Seatrium.....
jlinus ( Date: 16-Nov-2024 00:38) Posted:
|
Now they declared everything no condition usually they will pay us 6 days after receive our surrendered shares ?
GreenSprout ( Date: 15-Nov-2024 19:26) Posted:
|
You meant the best is yet to be!!!
Jimeagle ( Date: 15-Nov-2024 22:46) Posted:
|