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Latest Forum Topics / MM2 Asia    Last:0.003 --  Post Reply
MM2 Asia [1B0.si]
Joelton
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04-Feb-2021 09:07     
 
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mm2 Asia proposes rights issue at 4.7 Singapore cents a share to raise S$52.2m
 
MAINBOARD-LISTED entertainment group mm2 Asia has proposed a renounceable underwritten rights issue of one rights share for every one existing share held, at 4.7 Singapore cents for each rights share, it said in an exchange filing on Wednesday.
 
The issue price of 4.7 Singapore cents per rights share represents a discount of around 60.8 per cent to the closing price of 12 Singapore cents per share on Monday, being the last trading day prior to the announcement. It is also a 43.7 per cent discount to the theoretical ex-rights price of 8.35 cents, based on the closing price on Monday.
 
Upon the completion of the rights issue, the company will receive net proceeds of around S$52.2 million the funds will be used to pay off the medium-term note due on April 27, and for general working capital and operations of the group.
 
mm2 Asia said although the media industry has been hit hard by the pandemic globally, it remains " well-positioned" for recovery post Covid-19. However, it noted that the group' s operating cash flows and financial position have been " adversely affected by the Covid-19 disruption" .
 
" The company is thus undertaking the rights issue as a prudent measure to strengthen the financial position and capital base of the group," mm2 Asia said in the exchange filing. " The rights issue will also provide the shareholders with an opportunity to further participate in the equity of the company."
 
mm2 Asia said that it received in-principle approval from the Singapore Exchange on Tuesday for the proposed rights issue, and that its board of directors have passed a resolution to call for an extraordinary general meeting to approve the proposed rights issue.
 
Melvin Ang - founder, executive chairman and largest shareholder of mm2 Asia - has around 38.1 per cent of the share capital in the group. He has stated his intention to vote in favour of the resolutions to approve the rights issue and to subscribe for his pro-rata entitlement to the rights shares.
 
The renounceable rights issue is fully underwritten by UOB Kay Hian, which is also the lead manager.
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tongphlp
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04-Feb-2021 09:06     
 
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mm2 Asia to tap shareholders for $52.15 mil with 1-for-1 rights issue

Jovi Ho  Published on Wed, Feb 03, 2021 / 10:40 PM GMT+8 / Updated 51 minutes ago


look@bright      ( Date: 02-Feb-2021 10:34) Posted:

it was strongly manipulated, a joke counter

Observers      ( Date: 02-Feb-2021 09:59) Posted:

what happen? drop big big then halted?
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look@bright
Elite
02-Feb-2021 10:34     
 
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 Alert Admin 		it was strongly manipulated, a joke counter

Observers      ( Date: 02-Feb-2021 09:59) Posted:

what happen? drop big big then halted?
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Observers
Elite
02-Feb-2021 09:59     
 
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 Alert Admin 		what happen? drop big big then halted?
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tongphlp
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05-Jan-2021 14:55     
 
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 Alert Admin 		Must hold for the llloooooonnnggggg term :)

look@bright      ( Date: 05-Jan-2021 13:50) Posted:

speechless, lousy!

tongphlp      ( Date: 21-Dec-2020 17:04) Posted:

:
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look@bright
Elite
05-Jan-2021 13:50     
 
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 Alert Admin 		speechless, lousy!

tongphlp      ( Date: 21-Dec-2020 17:04) Posted:

:(

look@bright      ( Date: 21-Dec-2020 16:57) Posted:

MM2 really hopeless, many day is mayday
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tongphlp
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21-Dec-2020 17:04     
 
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look@bright      ( Date: 21-Dec-2020 16:57) Posted:

MM2 really hopeless, many day is mayday.

tongphlp      ( Date: 21-Dec-2020 15:58) Posted:

Yah. GHY Media.
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look@bright
Elite
21-Dec-2020 16:57     
 
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 Alert Admin 		MM2 really hopeless, many day is mayday.

tongphlp      ( Date: 21-Dec-2020 15:58) Posted:

Yah. GHY Media..

look@bright      ( Date: 21-Dec-2020 14:39) Posted:

Jia lat, recent one new listings at 66c 😂 😂 😂
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tongphlp
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21-Dec-2020 15:58     
 
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 Alert Admin 		Yah. GHY Media..

look@bright      ( Date: 21-Dec-2020 14:39) Posted:

Jia lat, recent one new listings at 66c 😂 😂 😂

tongphlp      ( Date: 21-Dec-2020 14:00) Posted:

Lucky if you get half a cent :
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look@bright
Elite
21-Dec-2020 14:41     
 
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 Alert Admin 		what is puzzling that Unusual is trading higher than MM2 🤔 🤔 🤔
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look@bright
Elite
21-Dec-2020 14:39     
 
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 Alert Admin 		Jia lat, recent one new listings at 66c 😂 😂 😂

tongphlp      ( Date: 21-Dec-2020 14:00) Posted:

Lucky if you get half a cent :)

tongphlp      ( Date: 21-Dec-2020 13:59) Posted:

Lousy stock.
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tongphlp
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21-Dec-2020 14:00     
 
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 Alert Admin 		Lucky if you get half a cent :)

tongphlp      ( Date: 21-Dec-2020 13:59) Posted:

Lousy stock..

Sunmoonstar      ( Date: 21-Dec-2020 13:52) Posted:



Mm2 Ang Wee Chye 38.1092% Temasek 9.8310%

Once cinema spin off and list, sure be 2 cent sell 20 cents (my guess), how much they can earn from their holding on new listing, and those share holding also Get benefit.

the NAV is 23.53 cents, and now trade at 151~161.

So what do you think?


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tongphlp
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21-Dec-2020 13:59     
 
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 Alert Admin 		Lousy stock..

Sunmoonstar      ( Date: 21-Dec-2020 13:52) Posted:



Mm2 Ang Wee Chye 38.1092% Temasek 9.8310%

Once cinema spin off and list, sure be 2 cent sell 20 cents (my guess), how much they can earn from their holding on new listing, and those share holding also Get benefit.

the NAV is 23.53 cents, and now trade at 151~161.

So what do you think?

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Sunmoonstar
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21-Dec-2020 13:52     
 
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Mm2 Ang Wee Chye 38.1092% Temasek 9.8310%

Once cinema spin off and list, sure be 2 cent sell 20 cents (my guess), how much they can earn from their holding on new listing, and those share holding also Get benefit.

the NAV is 23.53 cents, and now trade at 151~161.

So what do you think?
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look@bright
Elite
18-Dec-2020 19:22     
 
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 Alert Admin 		jia lat this counter holland liao

tongphlp      ( Date: 18-Dec-2020 15:54) Posted:

could be too..

Observers      ( Date: 12-Dec-2020 07:05) Posted:

I thought is GV regret not selling the last time mm2 came knocking? Now both also desperate to get married
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tongphlp
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18-Dec-2020 15:54     
 
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 Alert Admin 		could be too..

Observers      ( Date: 12-Dec-2020 07:05) Posted:

I thought is GV regret not selling the last time mm2 came knocking? Now both also desperate to get married?

tongphlp      ( Date: 10-Dec-2020 10:33) Posted:

mm2 made a wrong move by buying into Cathay? hmm..
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look@bright
Elite
18-Dec-2020 15:41     
 
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 Alert Admin 		Lol at this kind of trading direction, it is on its way to Holland.
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Observers
Elite
12-Dec-2020 07:05     
 
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 Alert Admin 		I thought is GV regret not selling the last time mm2 came knocking? Now both also desperate to get married?

tongphlp      ( Date: 10-Dec-2020 10:33) Posted:

mm2 made a wrong move by buying into Cathay? hmm...

Joelton      ( Date: 10-Dec-2020 09:12) Posted:

mm2 Asia proposes to merge its Cathay cinema business with Golden Village cinemas
 
mm2 Asia has entered into a heads of agreement with Orange Sky Golden Harvest Entertainment (Holdings) (OSGH), proposing to merge its cinema business with Golden Village cinemas.
 
Through its unit mm CONNECT, mm2 Asia owns eight cinemas in Singapore under the Cathay brand, and 14 cinemas in Malaysia under the Cathay Cineplexes Malaysia, Mega Cinemas and Lotus Fivestar brands. mm CONNECT also owns a movie film distribution business and an online streaming business.
 
OSGH has 14 cinemas in Singapore under the Golden Village banner.
 
The move will make the enlarged business the biggest cinema operator in Singapore, delivering economies of scale it will also provide greater financial and operating stability, given headwinds faced by cinema operators due to the pandemic, said mm2 Asia.
 
In a statement to the Singapore Exchange on Wednesday, mm2 said that the duo will pursue a possible merger of the two cinema businesses, " on the basis that the parties will bring in one or more new investors to inject capital into the merged businesses" .
 
The proposed transaction will require the necessary approvals, including that of the shareholders of the two companies, the Singapore Exchange, the Stock Exchange of Hong Kong and the Competition and Consumer Commission of Singapore (CCCS).
 
If the terms of the definitive agreements cannot be agreed upon, or the conditions of the proposed transaction satisfied, by Dec 31, 2021, the heads of agreement will be terminated.
 
This month, mm2 Asia had said that it was evaluating a spinoff of its cinema business via a listing on the SGX Catalist board. " That spinoff is being proceeded with in parallel with the work on the proposed transaction," it said.
 
" In the event that the IPO is completed successfully, mm2 Asia and OSGH will discuss in good faith the basis on which the merger and the proposed transaction would take place, taking into account the listed spinoff business."


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look@bright
Elite
11-Dec-2020 20:53     
 
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 Alert Admin 		emmm 66c for IPO, what difference are they to MM2??? 

look@bright      ( Date: 11-Dec-2020 20:52) Posted:


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look@bright
Elite
11-Dec-2020 20:52     
 
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11 Dec
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