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oh no
susp??
susp??
WAIT FOR BETTER OFFERS...3cents is a penny of a deal...
.029 now!! should i lock in??
Hope nobody shorted this one today.
General Offer @ $0.03.
General Offer @ $0.03.
Luzhou Bio-Chem founder launches privatisation bid
THE founder of Mainboard-listed Luzhou Bio-Chem Technology Limited wants to take the company private in a deal that values it at S$17.8 million, so as to gain greater management flexibility and control over the company.
Niu Ji Xing, who is also Luzhou' s executive chairman and chief executive, on Tuesday launched a voluntary conditional general offer via investment holding company Starnova, of which he is the sole director. Starnova is offering to acquire all the ordinary shares in Luzhou at S$0.03 apiece. The offer price is final and Starnova does not intend to revise it.
As of the announcement, Luzhou had an issued and fully paid-up share capital of 308.7 million yuan (S$60.89 million) comprising 594 million shares. The deal thus values the company at about S$17.8 million.
Mr Niu and investment holding company Faith Corporate International Limited, of which he is the sole director, hold a combined 41.2 per cent stake in Luzhou and have undertaken to accept the offer.
According to the exchange filing, the reason for the privatisation is to provide the offeror and the company with " greater control and management flexibility" in utilising and deploying the company' s resources. It will also facilitate the implementation of strategic initiatives and/or operational changes to " achieve greater efficiency and competitiveness" .
The offeror added that if Luzhou is delisted, it will be able to dispense with compliance costs associated with maintaining a listed status, and channel such expenses towards business operations.
It also noted that Luzhou has not carried out any fund-raising on the Singapore Exchange since 2015.
For shareholders, Starnova said the offer is an opportunity for them to exit their investment, given the stock' s " low trading liquidity" . For instance, the average daily trading volume for the past one month represents only 0.12 per cent of the total number of issued shares.
Also, the offer price represents a premium of approximately 87.5 per cent, 130.8 per cent, 150 per cent and 150 per cent over the volume-weighted average price (VWAP) per share for the one-month, three-month, six-month and 12-month periods respectively up to and including June 26.
Luzhou, said to be one of the largest producers of maltose-related products and other corn sweeteners in China, listed on the main board in 2006.
Its counter closed unchanged at S$0.015 on Tuesday, before the announcement.
insider say blackgold next lor. still never unhalt. sian.
Charleschoong ( Date: 30-Jun-2020 22:53) Posted:
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Take over 3cents..exit and move on to others
Charleschoong ( Date: 30-Jun-2020 22:53) Posted:
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I read it.why insider totally no news and buy this share before? curious..
luzhou takeover bro. go read annoucemnt
Charleschoong ( Date: 30-Jun-2020 22:31) Posted:
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Because too many post by bro John.
Hard to follow.
Give up luzhou? 😂 miyoshi easy push than luzhou la
johnng ( Date: 30-Jun-2020 19:53) Posted:
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TML SELL LUZHOU......THEN LOAD UP ON MIYOSHI next NAV 10cents
http://www.sharejunction.com/sharejunction/listMessage.htm?topicId=19866& searchString=& msgbdName=Miyoshi& topicTitle=TOP POTENTIAL NAV 10.1cents PROFITABLE COY 2020
http://www.sharejunction.com/sharejunction/listMessage.htm?topicId=19866& searchString=& msgbdName=Miyoshi& topicTitle=TOP POTENTIAL NAV 10.1cents PROFITABLE COY 2020
no problem la....good to share your views too...what most matters HUAT!!
Contratrader ( Date: 30-Jun-2020 19:50) Posted:
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walau...didnt know that you so zhun .... .still make fun of you that day....pai say ah ..
Contratrader ( Date: 10-Jun-2020 14:00) Posted:
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Wah reali going to 300
Zhun
See others potential candidates
Penny stocks still running ?
Zhun
See others potential candidates
Penny stocks still running ?
johnng ( Date: 10-Jun-2020 14:28) Posted:
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i do not know the BBs...i just a retailer investor like you..JUST PRAY GOT GOOD NEWS la...
gregtan123 ( Date: 30-Jun-2020 19:34) Posted:
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can call ur blackgold BB same terms 3 cents takeover?
johnng ( Date: 30-Jun-2020 19:13) Posted:
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Ya tml can sell all to them...
gregtan123 ( Date: 30-Jun-2020 18:41) Posted:
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Takeover 3 cents. John Ng congrats
Still in play?
johnng ( Date: 10-Jun-2020 15:26) Posted:
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