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10761-10780 of 11242
*good price
happyharvest ( Date: 06-Mar-2017 09:21) Posted:
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They have alternative location posted in the announcement as well :)
This is probably good news for oceanus. Wondering if the China government give them God price. And where they going to find new farm to continue their business ?
ysh2006 ( Date: 06-Mar-2017 09:14) Posted:
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how come still cannot trade?
Should be lifted liao
I thought this is good news. Which mean they are debt free.
China compulsory take their land and give them $38M but they use $20M to repay debt the rest use for company operation use! no money for share holders no special dividend etc....
sgtowkayneo ( Date: 06-Mar-2017 08:54) Posted:
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The Board of Directors (&ldquo Board&rdquo ) of Oceanus Group Limited (the &ldquo Company&rdquo ) wishes to announce that the Company has been informed of the intention of Gulei Zhen People&rsquo s Government (古 雷 镇 人 民 政 府 ) (the &ldquo PRC Authority&rdquo ) to compulsorily acquire 13 abalone farms of Oceanus (China) Aquaculture Co., Ltd (欧 圣 (中 国 )养 殖 有 限 公 司 ) (&ldquo Oceanus Aquaculture Limited&rdquo ), the Company&rsquo s wholly owned subsidiary, for purposes of urban planning by the PRC Authority (the &ldquo Compulsory Acquisition&rdquo ).
On 2 March 2017, Oceanus Aquaculture Limited received from the PRC Authority duly executed compensation agreements, the terms of which include but are not limited to the amount of compensation to be received by Oceanus Aquaculture Limited for the Compulsory Acquisition as well as the further steps involved for the completion of the Compulsory Acquisition. The gross aggregate compensation amount stated in the compensation agreements is RMB182,512,767.45 (approximately S$38,000,000.00) but this amount is subject to adjustments and deductions for various charges and fees such as administrative charges, penalties, reinstatement costs, etc. As the compensation amount is still subject to revisions and adjustments by the PRC Authority, the Company will make further announcements at an appropriate time to disclose further details of the Compulsory Acquisition, including the relative figures for the Compulsory Acquisition computed on the bases set out in Rule 1006 of the Listing Manual of the Singapore Exchange Securities Trading Limited.
The Company will continue to work with its consultants and advisors to minimise the various charges and fees and maximise the net compensation amount. The Company intends to utilise the net compensation amount received from the Compulsory Acquisition to repay the total debt of S$20,000,000.00 remaining after the completion of the restructuring exercise described in the announcement on SGX-NET on 25 January 2017. The balance proceed will be used for general working capital purposes and to fund the Company&rsquo s growth strategies. Proceeds from the Compulsory Acquisition are expected to be recognized in the financial year ending 31 Dec 2017.
The Compulsory Acquisition will not have a material impact on the Company&rsquo s operations as the Company will relocate its existing operations to its farms in Fotan, People&rsquo s Republic of China, which are adequate for the Company&rsquo s new business model of focusing on abalone hatchery which requires less farm land, instead of focusing on land-based abalone farming. Please refer to the Letter to Shareholders announced on SGX-NET on 25 January 2016.
Shareholders and potential investors should exercise caution when trading in the shares of the Company. People who are in any doubt as to the action they should take should consult their stockbroker, bank manager, solicitor or other professional adviser.
BY ORDER OF THE BOARD
Peter Koh Heng Kang
Executive Director and Chief Executive Officer 6 Mar 2017
News out:
The Board of Directors (&ldquo Board&rdquo ) of Oceanus Group Limited (the &ldquo Company&rdquo ) wishes to announce that the Company has been informed of the intention of Gulei Zhen People&rsquo s Government (古 雷 镇 人 民 政 府 ) (the &ldquo PRC Authority&rdquo ) to compulsorily acquire 13 abalone farms of Oceanus (China) Aquaculture Co., Ltd (欧 圣 (中 国 )养 殖 有 限 公 司 ) (&ldquo Oceanus Aquaculture Limited&rdquo ), the Company&rsquo s wholly owned subsidiary, for purposes of urban planning by the PRC Authority (the &ldquo Compulsory Acquisition&rdquo ).
then pray for RTO $0.10 haha
Price action looks really good. Insiders bought big before halt. Something positive must be up. It' s time for this gem to wake up from its deep slumber.
ya.. maybe 1+2 ? haha unlikely a name change
megasmiles8 ( Date: 04-Mar-2017 10:35) Posted:
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My guess is 2.
But hope it is 1. haha
BrotherHuat ( Date: 03-Mar-2017 09:19) Posted:
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It can also be a cash call for right issue plus wrts or just some generally announcements. Not really expecting good or bad news at the moment.
Phantom1984 ( Date: 03-Mar-2017 09:00) Posted:
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I suspect it could be 1. or 2.
New stakeholder bought 7m shares right before trading halt, doesn' t sound like bad news to me.
Good News could be
1. Big player invested in the stock and increased their cash flow.
2. Internal Reorg (rename or announcement).
3. Sold part of his line to rise the cash flow same with 2.
4. Merge from other big company.
Bad News could be
Sayonaraaaaaaa..............
highly possible
re-org?
Keeping fingers crossed for the good news!
should be good news as there is some buying interest prior to trading halt.
Huat to those who bought into this counter
dont feel good, hope i' m wrong otherwise will land back at 0.006