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Yongnam

Yongnam Holdings

Dont know why people will cahse this stock when they loss money almost every year

TraderBen ( Date: 14-Jun-2021 15:06) Posted:

stupid counter.. sia suay

Stocksguru ( Date: 14-Jun-2021 14:58) Posted:

Gone case, no drop to 5 series happy already

stupid counter.. sia suay

Stocksguru ( Date: 14-Jun-2021 14:58) Posted:

Gone case, no drop to 5 series happy already/

trademaster ( Date: 14-Jun-2021 14:55) Posted:

waiting for this laggard to move

Gone case, no drop to 5 series happy already/

trademaster ( Date: 14-Jun-2021 14:55) Posted:

waiting for this laggard to move

collected 72/73

Yongnam to issue 19.7 mil new shares and $9.5 mil in redeemable convertible bonds

Pursuant to the maturity of $12.5 million in existing redeemable convertible bonds on June 4, Yongnam Holdings has announced that it has entered into a facilitation agreement as well as a bond subscription agreement with the existing bondholders.

Under the facilitation agreement, Yongnam will repay the bondholders $1.5 million, to be satisfied through the issuance of 19.7 million new ordinary shares in the company at an issue price of 7.6 cents per share. In addition, Yongnam will repay a further $3 million to the bondholders over ten equal monthly tranches from June 4, with an interest rate of 7% per annum paid in two tranches.

Under the bond subscription agreement, $9.5 million in new redeemable convertible bonds will be issued to the existing bondholders, to be set off against the existing bonds. The new unsecured one-year bonds will carry an interest rate of 7% per annum.

The new bonds can be converted into new shares in Yongnam from one month after the date of issuance of the new bonds onwards. The conversion price into the new shares will be based on the simple average of the daily volume-weighted average price (VWAP) per share for the last 10 trading days. The conversion price will not be less than 5 cents or exceed 10 cents per share.

Assuming the full conversion of the convertible bonds into new shares, as well as taking into account the issuance of the 19.7 million new shares, the conversion shares would represent between 13.3% - 23.5% of the enlarged shared capital, depending on the conversion price.

According to Yongnam' s filing to SGX on June 4, the issuance of the new shares and convertible bonds would allow the company to settle its repayment obligations in respect of the existing bonds while enabling it to deploy its current cash balances towards its core activities which has been impacted by Covid-19 and ongoing Movement Control Order (MCO) in Mala

Time to call your turtles to action
To wake up their idea

cowabunga ( Date: 04-May-2021 21:08) Posted:

Thanks to the brain dead SGX, all our sg listed counters are listless. Should kick out those folks who are just sitting there doing nothing while collecting their huge salaries. We have a brain dead regulator.

Joelton ( Date: 14-Apr-2021 09:40) Posted:

Yongnam proposes placement of 104.5m new shares at 7.6 Singapore cents each

STEEL fabricator Yongnam Holdings has proposed to place up to 104.5 million new shares at an issue price of 7.6 Singapore cents per share to raise up to S$7.9 million, it said on Tuesday in an exchange filing.

The placement price represents a discount of around 9.9 per cent to the volume weighted average price for trades done on Monday - the full market day before the placement agreement was signed.

The placement shares represent around a fifth of the existing issued and paid-up shares of the mainboard-listed company. If the proposed placement - which is not underwritten - is fully subscribed, the placement shares will take up around 16.7 per cent of the enlarged share capital of the company.

After deducting fees and expenses, the estimated net proceeds from the proposed placement will be around S$7.5 million, which Yongnam is proposing to use for general working capital.

The company said its board is of the view that the proposed placement is " beneficial" to the company and its subsidiaries, as it will augment its working capital. This includes meeting the group' s project expenses and other operating expenses.

" Further, the proposed placement is part of the group' s on-going and prudent balance-sheet management to strengthen its financial position, enlarge its capital base and further enhance the financial flexibility of the group," it added.

After the proposed placement, net asset value per share will decrease to 23.35 Singapore cents, from 26.59 cents.

Private placement?
Not to existing shareholders right? To existing shareholders should be called rights issue right?
If so much shares as private placement at so much discount, not sure if still wise to keep holding on
Haiz...