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MarcoPolo Marine
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DYNA MAC : KEPPEL SSH & POSSIBLE 1500 percent ROCKET
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tonylim70
Veteran |
25-Jan-2018 21:25
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Allotment and Issue of New Ordinary Shares In line with the previous indications in the Announcements and the circular dated 28 November 2017 issued to Shareholders to seek the requisite approvals for the purposes of the implementation of the Debt Restructuring Exercise (the " Circular" ), the Company has allotted and issued a total of 3,183,619,761 new ordinary shares representing 90.44% of the enlarged share capital of the Company as follows: (a) a total of 2,142,857,141 new ordinary shares representing 60.87% of the enlarged share capital of the Company at S$0.028 per share in favour of the nine Investors whose identities and particulars were set out in the Circular, raising fresh equity funding of a total of S$60 million (out of which approximately S$45 million has been paid to entitled creditors and the Noteholders1). As noted in the Circular, a total of 321,428,571 of these shares have been set aside as Management Award Shares2 (b) A total of 983,619,763 new ordinary shares representing 27.94% of the enlarged share capital of the Company at S$0.035 per share in favour of the entitled creditors and the Noteholders under the Debt Restructuring Exercise and a further 57,142,857 new ordinary shares representing 1.62% of the enlarged share capital at S$0.035 per share for the settlement of professional fee and expenses as stated in the Circular. With the completion of the above allotment and issue of new ordinary shares, the total number of ordinary shares in issue as at the date of this Announcement is 3,520,168,361. Wow... resume trading the share price going to trade between 2.8 cents to 3.5 cents? From last time 30+ cents to now 3 cents.. $30k becomes $3k... Dun know whether many investors will dump or not.. |
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james87
Master |
24-Jan-2018 11:33
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I saw that the CE status has turned from XE to XB. What does it mean? Kindly advise.
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james87
Master |
19-Jan-2018 12:51
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Hi, I saw this status ?CESUSP? for Marco Polo on SGX. I understand that it has been suspended, but what is this CE about? | ||||
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beginners
Veteran |
21-Dec-2017 19:10
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This Sean is very lucky! Money & beauty one stone gets two! Very song 😆
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destinykraze
Elite |
21-Dec-2017 12:47
Yells: "Reality is only a matter of perception" |
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Look beyond her wealth. Her networking is top tier. Knowing a lot of rich and powerful people helps a lot.
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beginners
Veteran |
21-Dec-2017 12:21
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How much is Wife can help! Lol 😆
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destinykraze
Elite |
21-Dec-2017 10:27
Yells: "Reality is only a matter of perception" |
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Having a famous wife helps, probably uplorry long ago without her influence. | ||||
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pnuklis
Master |
21-Dec-2017 09:04
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Took 70% haircut and now they are debt free. Only down side Sean is that his dshares diluted to 18% from 60%. White knights rescued him | ||||
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granto
Master |
21-Dec-2017 08:26
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Marco Polo Marine gets approval for Indonesian yard debt restructuring http://splash247.com/marco-polo-marine-gets-approval-indonesian-yard-debt-restructuring/ | ||||
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vivivava
Veteran |
01-Dec-2017 14:38
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60m is based on friendship and business ties. But to be able to invest this much into a person with a high roller lifestyle and still not offering much in terms of ideas to change or refocus, is somewhat disappointing. Paid RMS 2millions who accept in shares.. seems like Sean Lee has 9 lives and he might have used most of them up already with bondholders. Anyone know what haircut did creditors take? | ||||
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FATABA
Supreme |
01-Dec-2017 13:36
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Bro I totally agree w you that MP life depends on OIL price and future investment. At least they are not closed. Share holders will have bonus warrants. And if at 0.035 exercise price ( 8 warrant for every 10 shares holded) . ( certainly higher then the 0.028 well relatively fair ) as we hv the options if we want to convert this . I guess the path back wld be long
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MichaelSchenker
Master |
08-Jan-2019 10:00
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When are they opening the doors again? Seems like there are some holders trying to get out, at the same time, some trying to get in. Last heard court already approved its restructuring plans. I think, if remembered correctly 28 cents is the reference price. This is the price the investors paid. Also, to remember the shares will be heavily diluted. Now I Guess I need to go refresh and do some homework before the suspension is lifted. (Looking to buy) |
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vivivava
Veteran |
01-Jan-2019 09:53
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Anyone has any views of the whole restructuring? 60m from new investors all friends of Sean Lee. Main control will be transferred to owner of Super group. With long time analyst Terence Wong taking a small stake. Current creditors took how much of a haircut? RMS consultancy did not offer anything in terms of new horizon or new growth/focus. Recovery is banged on oil price essential. | ||||
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jackson5
Master |
16-Nov-2017 18:11
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Banks rank first when liquidation takes place !
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alexchew
Master |
16-Nov-2017 18:02
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They will take their portion of secured assets.
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jackson5
Master |
16-Nov-2017 17:56
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Bank will not take 80% hair cut . They would prefer to liquidate the company .
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pnuklis
Master |
16-Nov-2017 17:37
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I wonder what is the result of banks voting today?????????? No news may not be good news! Hope Singapore banks ready to take 80% haircut setting a new benchmark for other counters to follow. | ||||
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rooster2017
Member |
16-Nov-2017 13:59
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you saw?? | ||||
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jackson5
Master |
16-Nov-2017 13:57
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Sean and his families still fly biz class , not bad la. | ||||
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ShowMeMoneyp
Member |
16-Nov-2017 10:48
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This is a good lesson for bond buyers. When one buys into a small issue ($50M) from a small company, there is no participation from institution players. So no one knows what to do. In a pratically default case like this, one can sue the company to fulfill her obligation to pay the bondholders, i.e. declare bankcrupt, sell the asset pledged. But there is unknown legal cost involved in this. It is probably also not clear how much one can get from the sale of assets. The settlement looks lousy. Maybe asset sale is even worse. It should be noted that the 32K in share is vaued at $0.035 whereas the ' white knights' got them at $0.028. We will know when the market opens |
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