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$0.052 can clear?
Hovering Near day high now.
W this news, min support price would be 5c. New major shareholder hopefully can bring new contracts to Yongnam....if not why is he chosen ?
LOL
LOL
SmallSmall ( Date: 20-Sep-2021 09:11) Posted:
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ASDEW inside? OMG!
After hatten...this one next tgt ?
THE POTENTIAL TRANSFER OF CONTROLLING INTEREST
As at the date of this announcement, Mr. Wang Yu Huei (&ldquo Mr. Wang&rdquo ), one of the Existing Bondholders, has a deemed interest in 3,167,131 Shares held by Asdew Acquisitions Pte Ltd (&ldquo Asdew&rdquo ), as he holds 99% of the share capital of Asdew. For illustrative purposes only, assuming only Mr. Wang exercises his right to convert the 2021 Bonds, none of the other Existing Bondholders exercises their right to convert the 2021 Bonds, and only Mr. Wang is allotted and issued Conversion Shares at the minimum Conversion Price of S$0.05 amounting to 106,400,000 Shares, Mr. Wang will be (directly and deemed) interested in an aggregate of 109,567,131 Shares, representing 15.14% of the enlarged issued share capital of the Company of 723,742,767 Shares. 3 Mr. Wang may thus potentially become a controlling Shareholder, depending on the exercise of the right to convert the 2021 Bonds by the Existing Bondholders. Pursuant to Rule 803 of the Listing Manual, the Company cannot issue securities to transfer a controlling interest without prior approval of Shareholders in general meeting. Accordingly, the Company will be seeking Shareholders&rsquo approval for the potential transfer of controlling interest in the Company to Mr. Wang arising from the issue of Conversion Shares (the &ldquo Potential Transfer of Controlling Interest&rdquo ) at the EGM. Mr. Wang and Asdew will abstain, and have undertaken to ensure that their associates will abstain, from voting in respect of the ordinary resolution relating to the Potential Transfer of Controlling Interest at the EGM. Further, Mr. Wang and Asdew shall decline, and shall ensure that their associates decline, to accept appointments as proxies to vote in respect of the ordinary resolution relating to the Potential Transfer of Controlling Interest for other Shareholders unless the Shareholders concerned have given specific instructions as to the manner in which their votes are to be cast in respect of the ordinary resolution relating to the Potential Transfer of Controlling Interest
As at the date of this announcement, Mr. Wang Yu Huei (&ldquo Mr. Wang&rdquo ), one of the Existing Bondholders, has a deemed interest in 3,167,131 Shares held by Asdew Acquisitions Pte Ltd (&ldquo Asdew&rdquo ), as he holds 99% of the share capital of Asdew. For illustrative purposes only, assuming only Mr. Wang exercises his right to convert the 2021 Bonds, none of the other Existing Bondholders exercises their right to convert the 2021 Bonds, and only Mr. Wang is allotted and issued Conversion Shares at the minimum Conversion Price of S$0.05 amounting to 106,400,000 Shares, Mr. Wang will be (directly and deemed) interested in an aggregate of 109,567,131 Shares, representing 15.14% of the enlarged issued share capital of the Company of 723,742,767 Shares. 3 Mr. Wang may thus potentially become a controlling Shareholder, depending on the exercise of the right to convert the 2021 Bonds by the Existing Bondholders. Pursuant to Rule 803 of the Listing Manual, the Company cannot issue securities to transfer a controlling interest without prior approval of Shareholders in general meeting. Accordingly, the Company will be seeking Shareholders&rsquo approval for the potential transfer of controlling interest in the Company to Mr. Wang arising from the issue of Conversion Shares (the &ldquo Potential Transfer of Controlling Interest&rdquo ) at the EGM. Mr. Wang and Asdew will abstain, and have undertaken to ensure that their associates will abstain, from voting in respect of the ordinary resolution relating to the Potential Transfer of Controlling Interest at the EGM. Further, Mr. Wang and Asdew shall decline, and shall ensure that their associates decline, to accept appointments as proxies to vote in respect of the ordinary resolution relating to the Potential Transfer of Controlling Interest for other Shareholders unless the Shareholders concerned have given specific instructions as to the manner in which their votes are to be cast in respect of the ordinary resolution relating to the Potential Transfer of Controlling Interest
wait for it drop below 30 just like cement.
Fast approaching ultra penny stock status already
Blackcitron ( Date: 23-Jul-2021 13:14) Posted:
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Wow becoming a super penny stock !
TraderBen ( Date: 19-Jul-2021 11:51) Posted:
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NAV still 20 cents?? the debts in deep sheet...
Yongnam gives notice of three years of losses auditor notes material uncertainty over ability to continue as going concern
YONGNAM Holdings gave notice of three consecutive years of losses in a regulatory filing on Wednesday, while its independent auditor also noted material uncertainty over the steel fabricator' s ability to continue as a going concern.
As at July 14, Yongnam' s latest six-month average daily market capitalisation was S$43.3 million.
An issuer is placed on the Singapore Exchange' s watch-list if it records pre-tax losses for the three most recently completed consecutive financial years and has an average daily market capitalisation of less than S$40 million over the past six months.
Yongnam' s auditors, Ernst & Young, issued an unmodified opinion on the group' s audited financial statements for the year ended Dec 31. They drew attention to the group' s S$77.8 million loss for the year, and net current liabilities of S$129.5 million for the group and S$12.6 million for the company.
" In addition, the group has also breached certain financial covenants in relation to its transferable term loan borrowings as of that date. The group' s operations are affected by work stoppages caused by Covid-19 pandemic," said the auditor.
The above factors indicate material uncertainty which may cast significant doubt about the group' s and company' s ability to continue as a going concern, it added.
The auditor also noted that as disclosed in the financial statements, Yongnam' s ability to continue as a going concern and meet its financial obligations depends on its ability to generate cash flow through operations and scrapping idle steel beams and columns, as well as on continued support from lenders and bond holders.
Yongnam' s ability could be impaired if significant project delays occur, or market demand for scrap steel changes for the worse, it added. Its opinion remains unqualified.
Yes
TA_Expert ( Date: 15-Jul-2021 02:07) Posted:
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This very true
ThankYou ( Date: 15-Jul-2021 02:16) Posted:
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Can short a bit Everyday to earn coffee money.
ThankYou ( Date: 22-Mar-2021 11:59) Posted:
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Are you still holding the shares of this company?
PhillipTan ( Date: 15-Jul-2021 01:21) Posted:
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Really dunno what to say
15k investment down the drain after all these years
15k investment down the drain after all these years
Yongnam gives notice of three years of losses auditor notes material uncertainty over ability to continue as going concern
Yongnam Holdings gave notice of three consecutive years of losses in a regulatory filing on Wednesday, while its independent auditor also noted material uncertainty over the steel fabricator' s ability to continue as a going concern.
As at July 14, Yongnam' s latest six-month average daily market capitalisation was S$43.3 million.
An issuer is placed on the Singapore Exchange' s watch-list if it records pre-tax losses for the three most recently completed consecutive financial years and has an average daily market capitalisation of less than S$40 million over the past six months.
Yongnam' s auditors, Ernst & Young, issued an unmodified opinion on the group' s audited financial statements for the year ended Dec 31. They drew attention to the group' s S$77.8 million loss for the year, and net current liabilities of S$129.5 million for the group and S$12.6 million for the company.
" In addition, the group has also breached certain financial covenants in relation to its transferable term loan borrowings as of that date. The group' s operations are affected by work stoppages caused by Covid-19 pandemic," said the auditor.
The above factors indicate material uncertainty which may cast significant doubt about the group' s and company' s ability to continue as a going concern, it added.
The auditor also noted that as disclosed in the financial statements, Yongnam' s ability to continue as a going concern and meet its financial obligations depends on its ability to generate cash flow through operations and scrapping idle steel beams and columns, as well as on continued support from lenders and bond holders.
Yongnam' s ability could be impaired if significant project delays occur, or market demand for scrap steel changes for the worse, it added. Its opinion remains unqualified.
Last time consolidate now drop back to the same before consolidation
Blackcitron ( Date: 29-Jun-2021 17:47) Posted:
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This one dying
Power of penny stocks?
Since they don' t cost a lot, can buy really a lot with the same amount of cash
If it goes up, even if just by a little, the profits multiplies
Since they don' t cost a lot, can buy really a lot with the same amount of cash
If it goes up, even if just by a little, the profits multiplies
Stocksguru ( Date: 14-Jun-2021 15:09) Posted:
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