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Sats
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Adrianinsing
Elite |
19-Jan-2023 11:59
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Are u sure ? I think will be pumped to $3.12 so they can dump
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guiren
Veteran |
19-Jan-2023 11:09
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selling down after AGM ,Chinese saying " 过 河 抽 板 " ,,,
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guiren
Veteran |
19-Jan-2023 11:06
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Dumping at 2.90 ,,, up lorry liao
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rledchg11
Member |
19-Jan-2023 11:01
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seems like shall need to stick with them for quite a while.... | ||||
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mav1ryan
Veteran |
19-Jan-2023 09:45
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..... 700million on loan.... assume 5% interest loan rate will be 35million annual interest.... I hope SATS makes more money from this aquisition to at least cover the loan interest amount. also on the 320million internal cash ?? I see from their 2022 Balance Sheet showing 220million cashflow and earlier years hover around 110~125 million. How SATS is going to get 320million cash? squeeze cashflow from short term receiveables or sell short term investments ?? |
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Joelton
Supreme |
19-Jan-2023 08:58
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Sats shareholders vote in favour of Worldwide Flight Services deal
SHAREHOLDERS of inflight caterer and ground handler Sats : S58 +0.68% have voted in favour of the company&rsquo s plan to acquire Paris-based air cargo handler Worldwide Flight Services (WFS), with 96.8 per cent of votes cast for the proposed transaction.
This represented 626.9 million shares, said Sats, following an extraordinary general meeting held on Wednesday (Jan 18). Temasek, via its indirect wholly-owned subsidiary Venezio Investments, had provided an irrevocable undertaking to vote in favour of the transaction. The Singapore state investor holds 466 million shares, or 39.68 per cent of Sats, via the subsidiary.
Just 3.2 per cent of the total number of votes, representing 20.8 million shares, were cast against the deal. No party was required to abstain from voting on the ordinary resolution.
Sats&rsquo acquisition of WFS is expected to cost the company S$1.8 billion, of which up to S$800 million is expected to be raised through a renounceable underwritten rights issue. Some S$700 million will be obtained through a term loan, plus S$320 million from the company&rsquo s internal cash balances.
With the shareholder approval, the proposed acquisition of WFS is now subject to requisite regulatory approvals. Sats expects the transaction to be completed by March or April this year.
The blockbuster deal has drawn scrutiny since plans were unveiled by Sats on Sep 28. The firm&rsquo s shares have fallen 24 per cent since then, closing at S$2.94 on Wednesday. This is 0.7 per cent or S$0.02 higher compared to Tuesday&rsquo s close.
Sats had initially illustrated a potential raise of S$1.7 billion through a rights issue of 609 million new shares at S$2.79 each. The company took on a different tack following a more than 20 per cent plunge in its share price, with chief executive Kerry Mok expressing the need to reduce the size of any potential rights issue.
Had it gone with the potential plan set out in its Sep 28 announcement, the acquisition would have raised its earnings per share (EPS) for FY2022 by 78 per cent, from 1.8 Singapore cents to 3.2 cents. Its net profit on a pro forma basis would have risen from S$20 million to S$56 million.
Following the finalised funding plan, Sats revised the figures downward. Net profit rises from S$20 million to S$28 million instead, including amortisation of intangible assets. EPS rises from 1.8 Singapore cents to 1.9 cents &ndash less than 6 per cent. The increased debt load &ndash S$700 million under the term loan &ndash raises interest expense, thereby reducing pro forma net profit, Sats explained.
The company had characterised WFS as a highly strategic, one-of-a-kind asset that will transform its portfolio with the prospect of creating an Americas-Europe-Asia-Pacific network with 201 cargo and ground stations in 23 countries.
&ldquo It is a clear demonstration that our shareholders recognise the strategic value and growth opportunities that this transformational deal will unlock for Sats and all of our stakeholders,&rdquo Mok, who is also Sats president, said on Wednesday of the shareholder approval. &ldquo We will be better positioned to provide our global customer base with end-to-end solutions, while securing a pathway to profitable growth and uplifting our home-market base in Singapore.&rdquo
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investshare
Supreme |
19-Jan-2023 08:10
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So right issue coming..
Dow dropped 2 days 3 digits.. Perfect storm.. |
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Adrianinsing
Elite |
19-Jan-2023 00:06
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Panda8 you are totally correct 👍 I am being totally flippant by calling for $3.11 and deeply cyclical about the pump and dump that is going on with SATS
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Panda8
Veteran |
18-Jan-2023 20:30
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When someone call for min S3.11 tomorrow, it is time to sell. If the person so zhun, then won' t lost until lau sai and making hell of noise and want to see MP and so navie that thought MP can help him solve the problem. | ||||
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sadhu123
Member |
18-Jan-2023 20:26
Yells: "Value Value Value..." |
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Ven Sreenivasan
Associate Editor
SINGAPORE - Sats Ltd shareholders overwhelmingly approved the proposed acquisition of Worldwide Flight Services (WFS) at an extraordinary general meeting (EGM) on Wednesday afternoon. The vote, which was held in person and via electronic means, garnered 96.80 per cent of the total number of votes in favour of the resolution to approve the $1.82 billion transaction. Sats just needed a simple majority of 50 per cent voting in favour. Voting was conducted by a simple poll, where shareholders vote &ldquo for&rdquo , &ldquo against&rdquo or abstained. |
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Adrianinsing
Elite |
18-Jan-2023 16:41
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Minimum $3.11 tomorrow | ||||
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guiren
Veteran |
18-Jan-2023 16:37
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2.93 ,, selling down after AGM ,Chinese saying " 过 河 抽 板 " ,,, a | ||||
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guiren
Veteran |
18-Jan-2023 16:32
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2.94 ,, selling down after AGM ,Chinese saying " 过 河 抽 板 " ,,, a
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guiren
Veteran |
18-Jan-2023 15:52
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2.94 ,, selling down after AGM ,Chinese saying " 过 河 抽 板 " ,,, a
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Adrianinsing
Elite |
18-Jan-2023 15:44
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Cause they need to PUMP before they can DUMP
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Adrianinsing
Elite |
18-Jan-2023 15:43
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Definitely will not be sold down
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guiren
Veteran |
18-Jan-2023 15:41
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Fat hope, selling down after AGM ,,
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sadhu123
Member |
18-Jan-2023 15:41
Yells: "Value Value Value..." |
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most likely will move toward - close back the Price Gap created few month back... market always find a way to close back the void space... from 3.40 to 3.80 Gap will be close Back For 90% Certain...(from most trading book) |
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Adrianinsing
Elite |
18-Jan-2023 15:40
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Could do
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mav1ryan
Veteran |
18-Jan-2023 15:30
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That will be 4 Yes from me !
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