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PhillipTan
Supreme |
12-Jul-2021 08:39
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NGSC proposes $7.4 mil selective capital reduction following delisting notification from SGX-STNext-Generation Satellite Communications (NGSC) is proposing a selective capital reduction move to return $7.36 million in cash to shareholders, or 0.155 cent per share for a total of 4.749 billion shares. As at July 12, NGSC has a total issued and paid-up share capital of $145.6 million comprising 6.425 billion shares in issue and 24.2 million treasury shares it has only one class of shares in issue. The reduction will see the company reducing its total number of issue shares by 73.91%, from $145.6 million comprising 6.425 billion shares to $138.3 million comprising 1.676 billion shares. The idea of the selective capital reduction was first floated in May, where the shares held by NGSC' s shareholders would be cancelled in return for cash, subject to shareholders' approval. Only the shares of Telemedia Pacific Group and Hady Hartanto, NGSC' s controlling shareholders, and their associates, which represent a total of 26.09% of the total of the company' s shares, will remain in NGSC. The selective capital reduction presents a chance for the company' s shareholders to fully exit their investment. This comes following the suspension of the trading of NGSC' s shares on Jan 3, 2020, which has made it difficult for the company' s shareholders to exit their positions. NGSC, on Dec 3, 2019, was notified by the SGX-ST that the company is to be delisted after not having met the requirements of the rules under the listing manual. Previously, NGSC revealed that it had reached out to its controlling shareholders to make an exit offer, which the latter revealed that it was in no position to do so. On June 11, MC Payment was said to be in talks with NGSC in relation to a potential acquisition of 51% of the company, but the talks concluded without any outcome. As at July 12, the controlling shareholders of NGSC hold 1.676 billion shares, or 26.09% of the total number of NGSC' s issued shares. The selective capital reduction will be funded from NGSC' s existing cash reserves. It is expected to be completed by Nov 30. Shares in NGSC last traded at 0.1 cent before its trading suspension. |
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Estetica
Member |
13-Jul-2016 09:21
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What's wrong with this counter? Going worthless | ||
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taxiuncle
Veteran |
27-May-2016 00:27
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Very soon.... |
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Estetica
Member |
26-May-2016 23:02
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This counter has been stagnant for so long. Wondered when will its turn for some movement | ||
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superb
Veteran |
08-Oct-2015 21:03
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Something brewing at this penny 25% up. From past few days, it moving. Bid Bid Vol Ask Vol Ask 0.003 8,045,000 7,711,800 0.004 0.002 31,458,100 3,220,000 0.005 0.001 59,855,000 898,000 0.006 -- -- 1,150,000 0.010 -- -- 1,000,000 0.013 -- -- -- 0 |
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taxiuncle
Veteran |
19-Jun-2014 15:43
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Think jia lat for this one...
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KepoChicken
Master |
14-Jan-2014 15:35
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Vested... seem got upside. | ||
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seanpent
Supreme |
14-Jan-2014 15:02
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when this moves, guess AdvSCT will follow ... | ||
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ykjuay
Veteran |
14-Jan-2014 15:00
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Definitely worth a look with the buildup volume ,0.006 stable price | ||
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ykjuay
Veteran |
14-Jan-2014 12:59
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this counter needs to eat a lot more with no movement, once shake, many millionaire occurred , can keep if u hv spare cash n stay patience...... | ||
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luketoh
Senior |
14-Jan-2014 10:04
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Something is brewing here??? | ||
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luketoh
Senior |
11-Sep-2013 14:53
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Jia latz.... | ||
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luketoh
Senior |
27-Aug-2013 09:59
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What happened here? | ||
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alltimehigh
Member |
03-Jun-2013 11:22
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Useless counter TOP Volume, the price cannot move stay at 0.012, I think end of the day also 0.12. | ||
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luketoh
Senior |
28-May-2013 17:47
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So high volume and yet not moving...what is going on??? | ||
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luketoh
Senior |
20-May-2013 15:32
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What are the sellers?????Keep on selling | ||
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thunderdoor
Senior |
15-May-2013 01:39
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Pump and dump, pump and dump. Hope people here have benefited from this too.
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papayaface
Supreme |
14-May-2013 22:18
Yells: "This is the best time to enter....when everythings uncertain" |
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Where's the HK money? Gone with the wind? Haizzzz. Last week's huge volume was done at price of 1.4 cts & above. Surely if it is HK money, more accumulation should take place at current price. | ||
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luketoh
Senior |
14-May-2013 12:45
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Volume is very huge recently.....whats going on here? | ||
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lawcheemeng
Elite |
09-May-2013 19:40
Yells: "fly me to the mooon" |
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i tot lew lian season. ripe oredi any how drop.leh.......hehehe
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