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Any updates on resuming trading??
need how long to resume trading wo...
Newlearner ( Date: 19-Jan-2019 19:51) Posted:
I think converting debt to shares is better option for both creditors and shareholders. Even with low interest rate, with current uncertainties/ slow recovery will only delay further or eliminate any shareholders earning for years. Of cos it came with possibility of heavy dilution depending on issue price
sheerluck ( Date: 19-Jan-2019 09:20) Posted:
Expecting the following (taking cue from Ezion):
1. Bank will reduce interest rates and require minimal principle repayment during extended period.
2. Noteholders will be presented with two options:
A) major haircut of ~70-80% with remaining as straight bonds
B) haircut of 30-40% with remaining as convertible bonds (major dilution)
3. Owner pledge own shares as goodwill.
4. Either bank extend credit facilities or right issue to raise money from existing shareholders.
For 4, in Ezion case, bank extend credit facillities as Ezion is still generating sufficient postive cashflow from operation. But in Falcon case, it is operation cashflow is unstable. Bank might be hesitated to extend further credit. That' s why right issue is a possible route as well.
Falcon might also write down their asset but likely to be after the restructuring. Why after restructuring? Need to show the best possible asset value to " encourage" noteholders into signing the agreement. Ofc once they signed, asset value can be written down.
After restructuring Ezion price went from 25cts to 5cts, a 80% lose in shares price. Partly due to weak market partly due to convertible bond holder getting out. I suspect Falcon fate will be similar. We might be looking at 0.5cts eventually when all dust settled.
Ezion took 8 months. Falcon?
A long wait to see the eventuality |
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I think converting debt to shares is better option for both creditors and shareholders. Even with low interest rate, with current uncertainties/ slow recovery will only delay further or eliminate any shareholders earning for years. Of cos it came with possibility of heavy dilution depending on issue price
sheerluck ( Date: 19-Jan-2019 09:20) Posted:
Expecting the following (taking cue from Ezion):
1. Bank will reduce interest rates and require minimal principle repayment during extended period.
2. Noteholders will be presented with two options:
A) major haircut of ~70-80% with remaining as straight bonds
B) haircut of 30-40% with remaining as convertible bonds (major dilution)
3. Owner pledge own shares as goodwill.
4. Either bank extend credit facilities or right issue to raise money from existing shareholders.
For 4, in Ezion case, bank extend credit facillities as Ezion is still generating sufficient postive cashflow from operation. But in Falcon case, it is operation cashflow is unstable. Bank might be hesitated to extend further credit. That' s why right issue is a possible route as well.
Falcon might also write down their asset but likely to be after the restructuring. Why after restructuring? Need to show the best possible asset value to " encourage" noteholders into signing the agreement. Ofc once they signed, asset value can be written down.
After restructuring Ezion price went from 25cts to 5cts, a 80% lose in shares price. Partly due to weak market partly due to convertible bond holder getting out. I suspect Falcon fate will be similar. We might be looking at 0.5cts eventually when all dust settled.
Ezion took 8 months. Falcon?
A long wait to see the eventuality.
sheerluck ( Date: 18-Jan-2019 13:20) Posted:
| Major dilution. Same path as Ezion...... |
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If can resume at discounted price already very good liao lor.
sheerluck ( Date: 19-Jan-2019 09:20) Posted:
Expecting the following (taking cue from Ezion):
1. Bank will reduce interest rates and require minimal principle repayment during extended period.
2. Noteholders will be presented with two options:
A) major haircut of ~70-80% with remaining as straight bonds
B) haircut of 30-40% with remaining as convertible bonds (major dilution)
3. Owner pledge own shares as goodwill.
4. Either bank extend credit facilities or right issue to raise money from existing shareholders.
For 4, in Ezion case, bank extend credit facillities as Ezion is still generating sufficient postive cashflow from operation. But in Falcon case, it is operation cashflow is unstable. Bank might be hesitated to extend further credit. That' s why right issue is a possible route as well.
Falcon might also write down their asset but likely to be after the restructuring. Why after restructuring? Need to show the best possible asset value to " encourage" noteholders into signing the agreement. Ofc once they signed, asset value can be written down.
After restructuring Ezion price went from 25cts to 5cts, a 80% lose in shares price. Partly due to weak market partly due to convertible bond holder getting out. I suspect Falcon fate will be similar. We might be looking at 0.5cts eventually when all dust settled.
Ezion took 8 months. Falcon?
A long wait to see the eventuality.
sheerluck ( Date: 18-Jan-2019 13:20) Posted:
| Major dilution. Same path as Ezion...... |
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|
Expecting the following (taking cue from Ezion):
1. Bank will reduce interest rates and require minimal principle repayment during extended period.
2. Noteholders will be presented with two options:
A) major haircut of ~70-80% with remaining as straight bonds
B) haircut of 30-40% with remaining as convertible bonds (major dilution)
3. Owner pledge own shares as goodwill.
4. Either bank extend credit facilities or right issue to raise money from existing shareholders.
For 4, in Ezion case, bank extend credit facillities as Ezion is still generating sufficient postive cashflow from operation. But in Falcon case, it is operation cashflow is unstable. Bank might be hesitated to extend further credit. That' s why right issue is a possible route as well.
Falcon might also write down their asset but likely to be after the restructuring. Why after restructuring? Need to show the best possible asset value to " encourage" noteholders into signing the agreement. Ofc once they signed, asset value can be written down.
After restructuring Ezion price went from 25cts to 5cts, a 80% lose in shares price. Partly due to weak market partly due to convertible bond holder getting out. I suspect Falcon fate will be similar. We might be looking at 0.5cts eventually when all dust settled.
Ezion took 8 months. Falcon?
A long wait to see the eventuality.
sheerluck ( Date: 18-Jan-2019 13:20) Posted:
| Major dilution. Same path as Ezion...... |
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even if they pull through the ' restructuring' , almostly certainly a haircut to earlier vested equity/bond holders. sincere best wishes to the long suffering stakeholders....
TraderBen ( Date: 19-Jan-2019 00:09) Posted:
Many have already restructured and moved on. Left a few only.. jus see whether they can get thru this
puppey ( Date: 18-Jan-2019 22:30) Posted:
alot o& g in debt now, feel that restructuring wont do much.
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Many have already restructured and moved on. Left a few only.. jus see whether they can get thru this
puppey ( Date: 18-Jan-2019 22:30) Posted:
alot o& g in debt now, feel that restructuring wont do much.
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alot o& g in debt now, feel that restructuring wont do much.
Convert some to ord equities...Means dilution ?
Https://www.google.com/amp/s/www.businesstimes.com.sg/companies-markets/falcon-energy-to-undertake-complete-debt-revamp-suspends-trading%3famp
Hopefully, restructuring will go smoothly. If not, then really gone case liao.
this one i totally feel for falcon holders. i too kena the first wave of O& M company. Ottomarine. easily lost 10k plus.
think it is time to ask SGX to close shop already.
Haven?t la.. restructure only Ma haha
danger ( Date: 18-Jan-2019 15:34) Posted:
traderben up lorry
TraderBen ( Date: 09-Jan-2019 22:15) Posted:
| This is very easy to push passed 10cents |
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traderben up lorry
TraderBen ( Date: 09-Jan-2019 22:15) Posted:
This is very easy to push passed 10cents!
makdatok ( Date: 09-Jan-2019 10:25) Posted:
| They gonna push this up :-)) |
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We are confident FEG will emerge an even stronger entity post restructuring.
Tan pong tyea
Major dilution. Same path as Ezion......
wow just 3 mths ago i posted this.. another O& G counter gone case
nqing87 ( Date: 10-Oct-2018 12:02) Posted:
dont look at NAV in a troubled industry.. many O& G now in restructuring even though NAV much higher.. swiber, nam cheong, marco polo etc.. the fact is no one is willing to buy the assets when they liquidate and probably has to sell at 1/10 or less of the original stated asset value.. it is clear that falcon has tonnes of debt with little cash.. it will have to go restructuring if it doesnt get lenders to tide it over..
marjohn ( Date: 10-Oct-2018 11:40) Posted:
| Aiya those auditor all also see wind direction. By the time they commented was is over. Those days they also said many companies going concern problem but those companies also bounced up!!! In O & G the key question now its not about the book but survival!!! Falcon almost certain to survive and with NTA of 10cts current level is a STEAL! Somebody wana buy chip la....happy trading folks!!! |
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Those morning will be sian half
tonytan44 ( Date: 18-Jan-2019 12:53) Posted:
the few who keep buying see stars liao.
guards80 ( Date: 18-Jan-2019 12:43) Posted:
| Voluntary trading suspension 😱 😱 😱 |
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Just keep lor..Hopefully they ll lift d suspension when oil reach 70..Now no matter what it couldnt go down liao ..lolz
the few who keep buying see stars liao.
guards80 ( Date: 18-Jan-2019 12:43) Posted:
Voluntary trading suspension 😱 😱 😱
makdatok ( Date: 18-Jan-2019 12:12) Posted:
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Those buy this morning suspension liaoz dont know when will lift suspension
Berani ( Date: 06-Dec-2018 11:37) Posted:
0.028 good price to add....
buy and keep |
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