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Latest IPO!
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MichaelSchenker
Master |
19-Feb-2019 09:21
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As most of us predicted, its gone below 30 at the moment. BUT, it can still go either way from here (haha, needless to say), anyway, this is a very cunning counter with even more shrewd CKs. Just be extra vigilant for those who insist to play this counter. |
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guards80
Supreme |
19-Feb-2019 08:49
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Procurri loses another potential buyer as New State withdraws offerENTERPRISE hardware supplier Procurri Corporation said a proposed investor New State Capital Partners has withdrawn its acquisition offer, it said on Tuesday. No specific reasons were provided for the withdrawal of the letter of intent by New State - with the deal first announced on Feb 3. New State, a private investment firm which operates in the US and focuses on investments in business, healthcare and industrial services industries, had then proposed to acquire all the shares of the company, other than treasury shares and shares held by substantial shareholder Irrucorp, via a scheme of arrangement. Irrucorp, in which Procurri chairman and global CEO Sean Murphy, and executive director and global president Edward Flachbarth are deemed to have interests, owns about 12.03 per cent of the company as at March 16, 2018, according to Procurri' s 2017 annual report. New State' s latest withdrawal follows a termination of further discussions with another interested buyer, who was unnamed. http://www.businesstimes.com.sg/companies-markets/procurri-loses-another-potential-buyer-as-new-state-withdraws-offer |
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lukewong82
Master |
09-Feb-2019 12:06
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I wonder... Addvalue tech also in 2014..share price stayed at 5-10 cents for a long time, then suddenly annouced china company wants to take over.. price surged from 5 cents to 25 cents.. then alot of small investor bought at above 20 cents.. Then in the end , no news.. no accountability... SGX just like it go.... So very easy for scam to happen. Just approach a listed company, tell them u want to buy over their company, either u operate urself or u co-operate with the company boss.. then company annouces some 3rd party interested in buying over the company, share price surge, u and the boss can sell for a huge profit... the boss can sell using proxies... then make an annoucement later saying the take over has been cancelled. Dun worry, SGX will never check, the most they will issue standard enquiry with u answering with standard template :) I wonder why sgx never refer all these aborted cases to the police and let the police trace the sellers whether they are linked to a scam to manipulate the share price by annoucing fake take overs etc..
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Sgvale
Supreme |
09-Feb-2019 11:08
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Someone loaded prior announcement & unloaded day after
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eric998
Supreme |
08-Feb-2019 14:43
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go back to 30..
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Starship
Supreme |
08-Feb-2019 14:28
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Yet another disgraceful Circus Act by yet another Clown Stock in the shameful SGX Circus............................   
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gravity8888
Supreme |
08-Feb-2019 13:05
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Hahah again use this method | ||||
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guards80
Supreme |
08-Feb-2019 12:23
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Procurri says second interested buyer has terminated discussionsENTERPRISE hardware supplier Procurri Corporation disclosed on Friday morning that discussions of a possible offer with a a second interested buyer have been terminated. In an announcement to the Singapore Exchange, the company said it would treat the second unsolicited, non-binding expression of interest as &ldquo having expired&rdquo . This is in accordance with the terms of the aforesaid expression of interest. It added that shareholders are advised to exercise caution when dealing with shares and to refrain from taking any action in respect of their shares which may be prejudicial to their interests. The news comes a day after Procurri' s disclosure on Thursday that it had received interest on Feb 4, 2019, from the third party for an acquisition through a possible voluntary general offer, subject to due diligence being conducted. Procurri said at the time that the second offeror was not in any way related to a proposed acquisition via a scheme announced on Feb 3, 2019, by its first offeror, New State Capital Partners LLC, to the best of its knowledge. The company' s shares jumped by around 8 per cent or 2.5 cents, closing at 33.5 Singapore cents on Thursday. The company had named its first offeror on Monday, adding it received a non-binding letter of intent from the US private investment firm. This was for the proposed acquisition of all company shares, other than treasury shares and shares held by substantial shareholder Irrucorp, via a scheme of arrangement. http://www.businesstimes.com.sg/companies-markets/procurri-says-second-interested-buyer-has-terminated-discussions |
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MichaelSchenker
Master |
08-Feb-2019 09:33
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Price maintained. Either people are sleeping or there are hidden hands supporting. Shall see next.... |
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MichaelSchenker
Master |
08-Feb-2019 08:35
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Those who bought recently may be scrambling out of the door once market opens. But will there be another yo-yo offer? Better dont bet for those of us not familiar with this stock. I suspect their TP is below 30 cents now. No confidence.. |
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NextEvolution
Elite |
08-Feb-2019 08:23
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Another unsolicited offer, another price surge. But this joker stock just announced the cancellation of the 2nd unsolicited offer. SGX sleeping again? Can allow companies to announce px sensitive news and then cancel the news just like that? Again and again? | ||||
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MichaelSchenker
Master |
07-Feb-2019 10:31
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I know we should not hate a lousy stock, but at 33 cents, is it too close to the offer price? Anybody wish to hazard a guess? 38 cents? (I remember IPO was 56 cents or somewhere around there) |
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gregtan123
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07-Jan-2019 20:39
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News Timeline 7 September 2018 (7.46AM): Procurri request Trading Halt 7 September 2018 (5.17PM, after trading hours): Procurri announces Possible Transaction → Unsolicited, non-binding indication of interest from 3rd party to acquire shares of the Company by Voluntary General Offer 8 October 2018, 9 November 2018, 7 December 2018: By way of an update to the Shareholders, due diligence by the interested third party is ongoing. No definitive agreements have been entered into and there is no certainty that the Possible Transaction will be consummated. 3 Jan 2019 (Thursday): Declout Trading Halt with both Declout/Procurri rising decently → Declout Closing at 11 Cents 4 Jan 2019 (Friday): Declout announces sale of 48 million Procurri Shares (approx. 16.8% of Procurri for 32 cents) → But after sale, they have 84 million shares/29.6% → i.e: reduce from 46.48% stake to 29.62% stake 6 Jan 2019 (Sunday): Procurri announces: (a) Change in Declout from 46.4% to 29.6% and (b) New Substantial Shareholder: Soh Choo Lai from 0.51% to 13.51% → Note 3.8% stake to unnamed individual 6 Jan 2019 (Sunday): Declout announces Possible Transaction for Takeover Offer for Declout Own Shares 7 Jan (Monday 1.54AM): Procurri Double Announcement (a) Procurri Annouces Declout Sale of 48 million shares (b) Procurri Clarifies that Declout Sale of 48 Million is NOT ?Possible Transaction? for Takeover of Procurri Shares + Now: ?Other Possible Transaction? By way of an update to the Shareholders, due diligence by the interested third party is still ongoing. The Company understands from the interested third party that, as at the time of this announcement, the interested third party is still considering the Possible Transaction, including the various forms of implementing the Possible Transaction (or any part thereof), and has also indicated that it is contemplating the implementation of such other transaction(s) involving the Company instead (?Other Possible Transaction?). 7 Jan 2019 (Monday): → Takeover Offer for Declout Shares at 13cents, with 3 Jan Trading Halt Price at 11 Cents | ||||
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SmallSmall
Supreme |
14-Nov-2018 09:16
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EGM at DeClout today to approve manadate to possible sale of Procurri. | ||||
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MichaelSchenker
Master |
09-Nov-2018 06:49
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Has DeClout abandoned Procurri (yet)? currently trading at about half of IPOs price. Looks tempting, though... |
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MichaelSchenker
Master |
31-Oct-2018 21:50
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Can anybody summarise what is going on? I am not vested, but interest just kicks in.
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SmallSmall
Supreme |
30-Oct-2018 08:21
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Declout calling for EGM for mandate to dispose Procurri. Preclude to sale? CIRCULAR TO SHAREHOLDERS IN RELATION TO THE PROPOSED DISPOSAL, IN WHOLE OR IN PART, OF THE COMPANY&rsquo S SHARES IN PROCURRI CORPORATION LIMITED IMPORTANT DATES AND TIMES Last date and time for lodgement of Proxy Form : 11 November 2018 at 4 p.m. Date and time of Extraordinary General Meeting : 14 November 2018 at 4 p.m. ORDINARY RESOLUTION &ndash THE PROPOSED DISPOSAL, IN WHOLE OR IN PART, OF THE COMPANY&rsquo S SHARES IN PROCURRI CORPORATION LIMITED THAT: (a) approval be and is hereby given, for the purposes of Chapter 10 of the Catalist Rules, for the Company to dispose, in whole or in part, of its 132,319,978 Procurri Shares, to the extent mandated and according to the terms under the Disposal Mandate as described in the Circular (the &ldquo Proposed Disposal&rdquo ) and (b) the Directors and any of them be and are hereby authorised to do all acts and things (including without limitation, executing all such documents and approving any amendments, alterations, or modifications to any such documents as may be required in connection with the Proposed Disposal) as they or each of them deem desirable, necessary or expedient to give effect to the matters referred to in the above paragraph of this Ordinary Resolution as they or each of them may in their or each of their absolute discretion deem fit in the interests of the Group. |
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SmallSmall
Supreme |
11-Oct-2018 21:33
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Nice closing @ $0.32 despite a sea of red :)
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SmallSmall
Supreme |
27-Sep-2018 16:49
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Movement detected
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EddieVedder
Member |
20-Sep-2018 14:18
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Something that shareholders should be acutely aware of is that as of 2Q18, parent company DeClout Ltd had just $9.1m of cash (de-consolidating Procurri) while burning some $8.1m YTD (in operating and investing cash flow, again de-consolidating Procurri). Given their financial position, it' s likely they are motivated sellers of their stake in Procurri. What are the implications for Procurri shareholders? On the basis that Procurri will generate $20-25m in EBITDA this year (c.$10m in 1H18 and growing fast), the current share price of 29c implies a valuation of just 4.7x EV/EBITDA! That falls to 3.1x next year. With a largely non-institutional shareholder base, it is a risk that a potential buyer thinks they can ' steal' the company with a low-ball bid. Similar companies to Procurri have transacted privately for around 8x EV/EBITDA, which would imply a share price of 54c - a far cry of 80% from the current level. |
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