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any chance for this counter?
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dragon123
Senior |
19-Mar-2015 21:05
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Why did Innopac's CEO, Mr Wong Chin Yong, sell 1 million shares at the price of $0.005 per share on 17 Mar 2015, but buy 1 million shares at the price of $0.006 per share back on 19 Mar 2015? It caused him $1000 lost in only two days. Why did he do such tradings? | ||
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coolly3826
Member |
03-Feb-2015 09:42
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What has happened?? Innopac has not traded for a few day..... any idea anybody? Looks like my SGD 35k going down the longkang. :( |
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BigCannonFairy
Master |
27-Jan-2015 19:05
Yells: "Slingless David" |
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Further, the board has also been informed by Mr Wong Chin Yong, managing director and chief executive of the company, that he has surrendered his passport to the CAD in their investigation into the offence of false trading and market rigging under Section 197 of the SFA. - See more at: SFA: Section 197 False trading and market rigging transactions
197.
&mdash (1) No person shall do any thing, cause any thing to be done or engage in any course of conduct, if his purpose, or any of his purposes, for doing that thing, causing that thing to be done or engaging in that course of conduct, as the case may be, is to create a false or misleading appearance &mdash
(a)
of active trading in any securities on a securities market or
(b)
with respect to the market for, or the price of, such securities.
[Act 34 of 2012 wef 18/03/2013]
(1A) No person shall do any thing, cause any thing to be done or engage in any course of conduct that creates, or is likely to create, a false or misleading appearance of active trading in any securities on a securities market, or with respect to the market for, or the price of, such securities, if &mdash
(a)
he knows that doing that thing, causing that thing to be done or engaging in that course of conduct, as the case may be, will create, or will be likely to create, that false or misleading appearance or
(b)
he is reckless as to whether doing that thing, causing that thing to be done or engaging in that course of conduct, as the case may be, will create, or will be likely to create, that false or misleading appearance.
[Act 34 of 2012 wef 18/03/2013]
(2) No person shall, by means of any purchase or sale of any securities that do not involve a change in the beneficial ownership of those securities, or by any fictitious transaction or device, maintain, inflate, depress, or cause fluctuations in, the market price of any securities.
(3) Without prejudice to the generality of subsection (1), where a person &mdash
(a)
effects, takes part in, is concerned in or carries out, directly or indirectly, any transaction of purchase or sale of any securities, being a transaction that does not involve any change in the beneficial ownership of the securities
(b)
makes or causes to be made an offer to sell any securities at a specified price where he has made or caused to be made or proposes to make or to cause to be made, or knows that a person associated with him has made or caused to be made or proposes to make or to cause to be made, an offer to purchase the same number, or substantially the same number, of securities at a price that is substantially the same as the first-mentioned price or
(c)
makes or causes to be made an offer to purchase any securities at a specified price where he has made or caused to be made or proposes to make or to cause to be made, or knows that a person associated with him has made or caused to be made or proposes to make or to cause to be made, an offer to sell the same number, or substantially the same number, of securities at a price that is substantially the same as the first-mentioned price,
it shall be presumed that his purpose, or one of his purposes, for doing so is to create a false or misleading appearance of active trading in securities on a securities market.
[Act 34 of 2012 wef 18/03/2013]
(4) The presumption under subsection (3) may be rebutted if the defendant establishes that the purpose or purposes for which he did the act was not, or did not include, the purpose of creating a false or misleading appearance of active trading in securities on a securities market.
[Act 34 of 2012 wef 18/03/2013]
(5) For the purposes of this section, a purchase or sale of securities does not involve a change in the beneficial ownership if a person who had an interest in the securities before the purchase or sale, or a person associated with the first-mentioned person in relation to those securities, has an interest in the securities after the purchase or sale.
(6) In any proceedings against a person for a contravention of subsection (2) in relation to a purchase or sale of securities that did not involve a change in the beneficial ownership of those securities, it is a defence if the defendant establishes that the purpose or purposes for which he purchased or sold the securities was not, or did not include, the purpose of creating a false or misleading appearance with respect to the market for, or the price of, securities.
(7) The reference in subsection (3)(a) to a transaction of purchase or sale of securities includes &mdash
(a)
a reference to the making of an offer to purchase or sell securities and
(b)
a reference to the making of an invitation, however expressed, that expressly or impliedly invites a person to offer to purchase or sell securities.
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explosive2013
Master |
10-Nov-2014 21:34
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Director, chairman, CEO and senior management also never subscribe right issue share, how they expect retail investor to subscribe. | ||
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hotelgrand
Master |
10-Nov-2014 18:40
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undersubscribed for the rights..can short? but no meat to short also INNOPAC HOLDINGS LIMITED (Incorporated in Singapore) (Company Registration No. 197301788K) _________________________________________________________________________________ RENOUNCEABLE NON-UNDERWRITTEN RIGHTS ISSUE OF SHARES WITH FREE DETACHABLE WARRANTS &ndash RESULTS OF THE RIGHTS SHARES CUM WARRANTS ISSUE _________________________________________________________________________________ 1. INTRODUCTION The Directors of Innopac Holdings Limited (the &ldquo Company&rdquo ) refer to the announcements dated 20 June 2014, 12 August 2014, 13 August 2014, 21 August 2014, 5 September 2014, 7 October 2014, 16 October 2014, and 20 October 2014 in connection with the Rights Shares cum Warrants Issue. All capitalised terms shall bear the same meaning ascribed to them in the Offer Information Statement dated 16 October 2014 issued by the Company (the &ldquo Offer Information Statement&rdquo ). 2. SUBSCRIPTION RESULTS The Company wishes to announce that at the close of the Rights Shares cum Warrants Issue on 4 November 2014, valid acceptances and excess applications for a total of 931,567,650 Rights Shares with Warrants were received. This represents approximately 13.44% of the total number of Rights Shares with Warrants available for subscription under the Rights Shares cum Warrants Issue. Based on the total issued share capital of the Company comprising of 3,465,182,495 Shares as at the Books Closure Date, 6,930,364,990 Rights Shares with 3,465,182,495 Warrants were available for subscription under the Rights Shares cum Warrants Issue. Details of the valid acceptances and excess applications for the Rights Shares with Warrants received are as follows: (a) valid acceptances were received for a total of 807,919,832 Rights Shares with Warrants, representing approximately 11.66% of the total number of Rights Shares with Warrants available for subscription under the Rights Shares cum Warrants Issue and (b) excess applications were received for a total of 123,647,818 Rights Shares with Warrants, representing approximately 1.78% of the total number of Rights Shares with Warrants available for subscription under the Rights Shares cum Warrants Issue. 3. APPLICATIONS FOR EXCESS RIGHTS SHARES A total of 6,122,445,158 Rights Shares with Warrants, comprising of Rights Shares that are not validly taken up and Rights Shares that are not otherwise allotted for whatever reason in accordance with the terms and conditions contained in the Offer Information Statement, the ARE, the PAL and (if applicable) the memorandum and articles of association of the Company, will be used to satisfy applications for 123,647,818 excess Rights Shares. 4. ALLOTMENT OF RIGHTS SHARES CDP will send to Entitled Depositors and Purchasers with valid acceptances of Rights Shares with Warrants and (if applicable) successful applications for excess Rights Shares with Warrants by ordinary post, at their own risk, to their mailing addresses in Singapore as maintained with CDP, a notification letter stating the number of Rights Shares with Warrants that has been credited to their respective Securities Accounts. 5. REFUND OF SUBSCRIPTION MONIES If any acceptance of and/or excess application for the Rights Shares is invalid or unsuccessful, the amount paid on acceptance and/or application will be returned or refunded to such applicants w
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hotelgrand
Master |
30-Oct-2014 23:07
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Singapore e..tritech...all issue rights with warrants as sweetener..all who subscribe all lose $$$..The M.D is still under investigation passport impounded..n o prospect..they temporary maintain the share price 0.009-0.01 after rights paid up will spiral downwards |
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