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Here' s your update.
http://infopub.sgx.com/FileOpen/CFGL-Update%20on%20the%20Sale%20Process%20for%20the%20Peruvian%20Fishmeal%20Operations.ashx?App=Announcement& FileID=401879
The board of directors of the Company (the &ldquo Board&rdquo ) wishes to provide an update on the sale process for the Peruvian Fishmeal operations (the &ldquo Sale Process&rdquo ).
As previously announced, the Company has appointed a Chief Restructuring Officer (the &ldquo CRO&rdquo ) whose role is to, among others, oversee and lead the Sale Process. Independent Reporting Accountants, Grant Thornton, have also been appointed and are providing full support to the CRO in his role. In addition, the Company has engaged an investment bank, CITIC CLSA Securities (&ldquo CITIC&rdquo ), to advise and assist in the Sale Process. CITIC has completed an Investment Overview and a comprehensive Information Memorandum to distribute to potential purchasers. Following inputs from all sources and the qualification of potential purchasers&rsquo lists gathered to date, CITIC is currently focused on a shortlist of purchasers which comprises both strategic and financial investors. It is anticipated that further prospective purchasers will be included in this list following the selective distribution of the Information Memorandum. Further, consultants have been engaged and are in the process of assisting in the assembling of a detailed data room (the &ldquo Data Room&rdquo ) which will enable a small number of selected investors to conduct due diligence in an efficient and timely manner. The target is to open the Data Room by early May 2016. The current timeline provides for due diligence, submission of binding offers and commencement of negotiations with respect to a sale and purchase agreement to take place in the coming months. The Company will provide a further update on the Sale Process to the market when there are material developments to report.
By Order of the Board
Lynn Wan Tiew Leng Company Secretary
Singapore, 28 April 2016
Still same family
johnnywalker ( Date: 25-Apr-2016 16:39) Posted:
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I wonder what the new CEO is up to? No news no update to shareholders? She is the sister of the former CEO. Should change to someone from outside!
SGX must see things in totallity. Coys in such a situation have a duty to update shareholders at the same time, n SGX shd put it down as a binding procedure that they do so, not letting shareholders go groping in the dark.
johnnywalker ( Date: 21-Apr-2016 13:16) Posted:
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Where to check the updates for bond holders? Just sell the business lah why so take so long. Already have 2 interested parties. Need HSBC bank to armtwist them again before they wake up??
pattanispirit ( Date: 13-Apr-2016 22:49) Posted:
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They need to settle the bonds first.
Otherwise, bondholders sue them until can't move.
Check their update for bondholders.
Otherwise, bondholders sue them until can't move.
Check their update for bondholders.
Be patience... Most sorted out... Once resume it will charge up.. Enjoy..
i' m also stuck at 0.087.............Idiot counter!
This one is peruvian fishmeal business, mainly, not China. But of course I understand that most of the fishmeal is exported to China. Anyway, yep, wondering what' s happening. No news, so quiet. Minimally shd keep shareholders informed.
johnnywalker ( Date: 13-Apr-2016 19:50) Posted:
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How come this fish become salted fish still no news? China economy is doing well now!
China Fishery given 2nd chance !
seems to me that guitar is out of tune.
Laoliu ( Date: 15-Jan-2016 11:58) Posted:
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Expect gap up at what point? Any idea?
Isolator ( Date: 14-Jan-2016 23:20) Posted:
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Those long... count profit when resume.. Enjoy...
I think they will suspend till the sale is negotiated,
Isolator ( Date: 14-Jan-2016 23:20) Posted:
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Prepare for the gap up when resume... Enjoy...
Think DBSS removed from margin soon after announcement of CAD invervention. This kind of bk so ngeow how to go bankrupt one (I' m talking abt DBS cos a lot of people trying to give all sorts of excuse to press px down).
speed88 ( Date: 14-Jan-2016 22:26) Posted:
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Quite expected. Ocbc first day of news in Nov or Dec already changed from grade A to non-marginable.
huafaster ( Date: 14-Jan-2016 22:15) Posted:
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Phillip will downgrade its margin from A to C, to those margin accounts, really雪 上 加 霜 。
Ok sure, no problem. Not much news these few days. I supposed got to wait for the court hearing in a few weeks time. TIll then, only can check CFG bond price for clue.
Qanghoo ( Date: 14-Jan-2016 21:25) Posted:
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