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edwinjup ( Date: 19-Mar-2015 20:55) Posted:
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A lots lots of reason...maybe he also Kanna margin call...or maybe he wan to re invest in asx stock which normally give up to 6%div yield..this one less than 1%..I also planning transfer some funds from stock to invest in asx or option trading...sti..I very sian..lol
KepoChicken ( Date: 19-Mar-2015 20:46) Posted:
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We missed out some important facts here:
(a) Why the ex-employee leave? Is it becos something he think not correct, then he leave?
(b) If the potential of company is really so good, why he sold his shares?
(c) Why huge selling since this counter is so good !! he can just slowly sell day by day... is it becos something ...he want to run away?
edwinjup ( Date: 19-Mar-2015 20:28) Posted:
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Past ten days traded near 19m shares....so the supply might dry up soon...(hopes)...today there may be some force selling by our dearest broking houses..due to yesterday big drop (margin call)...but since today close positive...up 4c...risk of margin call is low...risky but shiok...lol
edwinjup ( Date: 19-Mar-2015 20:07) Posted:
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Heavy selling by former employee could be behind Civmec stock plunge
http://www.businesstimes.com.sg/comp...c-stock-plunge
18 Mar
HEAVY selling by a former employee could have been behind the sharp drop in shares of heavy engineering firm Civmec this week, the company said in a Singapore Exchange (SGX) filing on Wednesday.
The counter dived 29 per cent or 14.5 cents on Wednesday to close at 35.5 cents on 4.9 million shares traded, after the SGX said in the morning that investors trading in Civmec should be cautious.
The price drop on Wednesday came after the stock fell to 50 cents on Tuesday from 58 cents last Friday. The number of shares traded had also jumped from slightly more than 300,000 on Monday to 1.9 million on Tuesday.
Civmec executive chairman James Fitzgerald said in the filing that the company was "aware that there is a motivated seller who holds a large but not substantial shareholding ... selling for personal reasons".
He added that Civmec is still expanding its Australian operations into the public infrastructure segment and is growing its footprint in South-east Asia.
Chief executive officer Patrick Tallon said in a phone interview that this possible seller had been a founding employee at Civmec and had a stake of slightly under 5 per cent when the company went public. The man later left the firm around October last year on "amicable" terms and was not "disgruntled", he added.
Mr Tallon estimated that this former employee likely had around 17 million shares at the start of March and added that Civmec had received reports that the man had sold some shares last week and the week before.
The SGX had queried the firm on Tuesday about unusual trading activity, to which Civmec had replied that it did not know of any information about its business that might explain the share price drop and spike in trading volume.
Civmec, which is based in Australia, provides construction and engineering services to the mining, oil and gas industry. It also recently diversified into doing engineering work for public infrastructure projects.
It listed on the SGX mainboard in 2012 with an initial public offering price of 40 cents per share.
http://www.businesstimes.com.sg/comp...c-stock-plunge
18 Mar
HEAVY selling by a former employee could have been behind the sharp drop in shares of heavy engineering firm Civmec this week, the company said in a Singapore Exchange (SGX) filing on Wednesday.
The counter dived 29 per cent or 14.5 cents on Wednesday to close at 35.5 cents on 4.9 million shares traded, after the SGX said in the morning that investors trading in Civmec should be cautious.
The price drop on Wednesday came after the stock fell to 50 cents on Tuesday from 58 cents last Friday. The number of shares traded had also jumped from slightly more than 300,000 on Monday to 1.9 million on Tuesday.
Civmec executive chairman James Fitzgerald said in the filing that the company was "aware that there is a motivated seller who holds a large but not substantial shareholding ... selling for personal reasons".
He added that Civmec is still expanding its Australian operations into the public infrastructure segment and is growing its footprint in South-east Asia.
Chief executive officer Patrick Tallon said in a phone interview that this possible seller had been a founding employee at Civmec and had a stake of slightly under 5 per cent when the company went public. The man later left the firm around October last year on "amicable" terms and was not "disgruntled", he added.
Mr Tallon estimated that this former employee likely had around 17 million shares at the start of March and added that Civmec had received reports that the man had sold some shares last week and the week before.
The SGX had queried the firm on Tuesday about unusual trading activity, to which Civmec had replied that it did not know of any information about its business that might explain the share price drop and spike in trading volume.
Civmec, which is based in Australia, provides construction and engineering services to the mining, oil and gas industry. It also recently diversified into doing engineering work for public infrastructure projects.
It listed on the SGX mainboard in 2012 with an initial public offering price of 40 cents per share.
Why i bought back...i saw the buyers q start to build up...lol buyers 4300 lots...sellers 1400 lots....demand slowly come in..hope can see 40c plus tomorrow....cheets
redsuns ( Date: 19-Mar-2015 19:21) Posted:
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One thing i have noticed yesterday regarding this sell down is the seller would not go below 35c. He will wait for price to go up 0.365-80 then sell and drive price down to 0.35-0.36c. I believe 0.35 is the bottom.
And today there is a change in Interest of Substantial Shareholder. He bought 250,000 units for 87,500. That work out to be 35c.
http://infopub.sgx.com/Apps?A=COW_CorpAnnouncement_Content& B=AnnouncementToday& F=SS93KJ5YC3IDUF9R& H=2ba78882af2402f4beb23c2a029f86ec12c4f3c954a71ae03b381a38b6966009
Personally i think this is an isolated event of someone selling for personal reasons. Because of little attention usually given to civmec by investors, therefore the price go down so fast due to lack of buyers. Civmec has been doing decently well these few quarters and looks good ahead with the foray into infrastucture building and seeking new SEA market. No reason fundamentally to get such a massive price drop. I believe price will go back up after the selldown finished. I think this is a great oppportunity to scoop up this stock at such low price during this rare occurrence. I bought some at 36c. Average down my previous position.
my humble opinion :p
This one like slowly going Holland sell salted eggs
Just tikam back at 38c.......hope sell down is done 😨
edwinjup ( Date: 19-Mar-2015 10:26) Posted:
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Heard former employee maybe the one sold down recently.... he got around 17m shares.....maybe he should stop..maybe mgt should buy some....beware of our dearest broking houses....they might do some force selling ..just fifo and enjoys
edwinjup ( Date: 19-Mar-2015 09:13) Posted:
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Drink kopi liao.....may buy back later....thanks dow
edwinjup ( Date: 19-Mar-2015 07:24) Posted:
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risky but interesting..hope ok... because i already tikam.( now in holland)...waiting for my kopi...lol
Novice13 ( Date: 19-Mar-2015 05:23) Posted:
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Hi Bro, if that the case, what you think of this counter? Worth to invest in?
edwinjup ( Date: 19-Mar-2015 04:50) Posted:
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Co say one big shareholder (less than 5%) try to unload his/her position....causing a surge in supply over demand.....i think even he or she just wan to sell 5000lots...will cause a.panic in the.market...leading a sell down..create lots of margin call.......
More importantly, authority charged with investigating mkt discipline (MAS+CAD) ought to carry out an investigation. It' s impossible to believe that nothing' s amiss n px fall nearly 50% in a wk. Someone seems to be acting irresponsibly here. If really there' s nothing amiss, then must be riggers at work, in which case a thorough investigation is also warranted. If things are left unchecked, who wld dare to invest in the mkt here anymore? I am not vested. But as one who is vested in other stocks, I' m concerned, very concerned. Whom can we turn to to address our horror and who will take care of our interests as retailers? What' s SIAS' role here?
moron101 ( Date: 18-Mar-2015 19:39) Posted:
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There you go...
http://infopub.sgx.com/FileOpen/Civmec_Response%20to%20SGX%20Trading%20Query%20FINAL%2020150318.ashx?App=Announcement& FileID=339294
Lost half of its mkt cap within days and the company said nothing unusual? Did they engage auditor to check?
moron101 ( Date: 18-Mar-2015 15:48) Posted:
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Yes...I would think there should be some kind of explanation to be demanded from the investor relations, at the very least, to protect investors' interests. Could be some insiders' trade on bad news? Don' t seems like an overpriced counter...
Dropped 27%. SGX must halt the trading. Besides issuing the useless warnings. Investors here are not protected. That is why nowadays no one wants to ipo here!! MAS is another ...ZZzzzz
barracudaa ( Date: 18-Mar-2015 15:26) Posted:
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That sgx...lol
Qanghoo ( Date: 18-Mar-2015 15:47) Posted:
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