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Metech Intl
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Everyday
Master |
24-Jan-2023 09:57
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Simon Eng regained top SSH with 29.8m shares.Now 19.7% of total voting shares. https://links.sgx.com/1.0.0/corporate-announcements/NHIE0RSWQXOD80NQ/81b09968a7ca785483b883a1f4cde7e9c2e7db689655f4f691e428ad7f60c7bc |
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Everyday
Master |
18-Jan-2023 08:50
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Internal changes in Metech but AET still operating intact. Hope for a stronger AET. While it is noted in the Announcement that under the terms of the JVA, AGT was to operate and manage AET, and XDC was to provide technical support to AET, the Board wishes to assure shareholders that the operations of AET will not be affected by the termination of the JVA against XDC as AET will be able to continue with the requisite technical support from its current production team. https://links.sgx.com/1.0.0/corporate-announcements/BCF5WNI9CWPOXKWM/007b0ceb10eaed64bce918d93234a60c28a54bca0f6726104f9913cd688622d9 |
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Everyday
Master |
28-Dec-2022 23:12
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Half yearly financial report ending Dec 2022 should be out next few mths. Hope to hear some news regarding the production of the lab diamonds. |
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Everyday
Master |
10-Dec-2022 18:54
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Upon checking further on Oct 6th Simon Eng share indeed drop to 7.1m and form 4.68% of the total share but he has deemed interest in his wife' s share of 4.47m. So overall he still have some say. Sgx announcement : https://links.sgx.com/FileOpen/_eFORM3V2_Simon%20Eng.ashx?App=Announcement& FileID=733690 |
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Everyday
Master |
03-Dec-2022 10:13
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Let' s hope for an effective reorganisation of Metech. The good news is that the JV. Diamond factory already started production. Looking forward to an increased income for the JV and Metech plus a reorganised stable company. |
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tedlim
Senior |
03-Dec-2022 06:57
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Something fishy going on? Simon Eng stake seem to increase to more than 5% but no disclosure or announcement... | ||||
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Everyday
Master |
02-Dec-2022 20:11
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On Sep 29th 2022 Simon Eng reduced his shares fr 30.4m to 7.5m. Still an SSH as it is 5% of the total shares in the market. Sgx Announcement : https://links.sgx.com/1.0.0/corporate-announcements/KKGBA4E87LS4QVB1/20274839a82a0f5401614c0eab89ba2e0a97131f31726c58402d5c6b1935ca10
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Everyday
Master |
02-Dec-2022 17:46
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Mr Simon Eng was present in the 21st Oct Meeting at Raffles Marina:Here are some of his comments : https://links.sgx.com/1.0.0/corporate-announcements/RUXD98Y5BSHH58CZ/b66dd0cd4f92ec48b0d5eafba2b88ee98be8a0a61f9d69af43e932980d8d9f5d Comments raised by Shareholders in relation to Ordinary Resolution 3 Mr Simon Eng stated that there are certain differences in expectations between the shareholder from X Diamond Capital Pte. Ltd. (&ldquo X Diamond&rdquo ) and the management of the Company. Mr Simon Eng pointed out that Mr Chng Hee Kok had been voted out at the earlier Annual General Meeting and Mr Ricky Sim Eng Huat did not stand for re-election, and hence, the only remaining independent director of the Company would be Mr Chay Yiowmin. Mr Simon Eng stated that in the present situation where the Company is conducting a new business whereby there are differences in expectations between the joint-venture partner, X Diamond, (&ldquo JV&rdquo ) and the management of the Company, if the Shareholders vote out Mr Chay Yiowmin, the only independent director of the Company, it would be a disastrous situation. Mr Simon Eng advocated that for continuity, the Chairman should remain in the Company and urged Shareholders to consider Resolution 3 carefully. Mr Simon Eng stated that the Chairman should then take on the responsibility to reorganize the board and ensure that the management and X Diamond are reorganized as well to enable a better working relationship and ensure better performance in the next financial year. Note: SSH Simon Eng have been the largest or 2nd largest share holder for sometime. Not sure whether his shares have reduced.
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tedlim
Senior |
02-Dec-2022 17:33
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See image here: https://www.investingnote.com/stocks/SGX:V3M#/all | ||||
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tedlim
Senior |
02-Dec-2022 17:26
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tedlim
Senior |
02-Dec-2022 17:19
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Saw this image from a friend....Simon Eng' s stake in Metech as at 29 Nov 2022 is nearly 15million shares...which MAKES HIM a substantial shareholder...but Company announcement on 7 Oct 2022 list him as NOT a substantial shareholder with about 7.1 million shares.
Question...why didn' t we see any announcement that says SImon Eng is a substantial sharholder of the Company since he has crossed the 5% stake as at 29 Nov 2022??? |
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For_The_Next_Leg
Senior |
21-Nov-2022 12:44
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$MetechIntl(V3M.SI) This article may not be positive. But if metech can come out of this unharm, it will be a big player in this industry. " And while the price drops at wholesale have outpaced those at retail, retail prices are dropping too. The big issue that damaged the natural diamond business for independent retailers&mdash price competition from online merchants&mdash is now starting to hurt the lab business as well. Ironically, the one major lab-grown retailer that has not lowered its prices is Lightbox, which has stuck to its $800-a-carat pricing scheme, originally criticized as too low. There&rsquo s a general consensus that there are too many people in the lab-grown diamond business&mdash on both the growing and dealing side&mdash and that will have to change." https://www.jckonline.com/editorial-article/lab-grown-diamond-shakeout/ |
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gummybear133
Member |
17-Nov-2022 09:10
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https://www.jewelchangiairport.com/en/shop/xdiamond111.html X Diamond Opening Soon - Jewel Changi Airport |
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For_The_Next_Leg
Senior |
16-Nov-2022 13:00
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$MetechIntl(V3M.SI) the high society is also noticing this trend... https://www.highsnobiety.com/p/lab-grown-diamonds/ |
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Joelton
Supreme |
08-Nov-2022 09:11
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Two Metech substantial shareholders seek EGM to be appointed directors
METECH International : V3M 0% on Monday (Nov 7) night announced the receipt of a second letter requesting the convening of an extraordinary general meeting (EGM) in as many days.
In a bourse filing, the investment holding company involved in electronic waste management solutions said it received a letter dated Nov 7 from Ang Poh Guan and Ng Cheng Huat (requisitioning members), who, the letter states, hold a combined stake of some 15.07 per cent in the Catalist-listed company.
Their letter referred to the company&rsquo s announcement on Nov 6 in relation to another requisition letter dated Nov 4 from Ng Eng Tiong, who is seeking an EGM to remove Samantha Hua Lei as the company&rsquo s chief executive officer and an executive director.
The requisitioning members stated they had &ldquo earlier expressed and continue to have grave doubts&rdquo as to the ability of Chay Yiowmin to properly act as an independent director of the company.
The duo said that as Ng Eng Tiong has expressed his intention to requisite the removal of Metech&rsquo s sole executive director while keeping Chay on the company&rsquo s board as the sole director, they would like to protect their interests by exercising their rights under section 176 of the Companies Act 1967 to request an EGM be convened.
They want the EGM to consider and vote on having Chay removed as a board director, Ng Cheng Huat be appointed a non-executive and non-independent director, and for Ang to be appointed an executive director, with all three resolutions to take effect from the date of the EGM.
Their requisition letter also requests Metech to reply by 4 pm on Nov 11 as to whether it will convene an EGM and if so, that the company will issue the notice of EGM with, among other things, the date, time and venue of the EGM as required by the Companies Act and/or the Company&rsquo s Constitution by no later than Nov 27.
In the requisition letter from Ng Eng Tiong, it was stated that he has a 10.1920 per cent stake in Metech, and among other things, requested that the company reply by Nov 11 whether it will convene the EGM, and if it would issue the notice of EGM and details concerning the intended EGM by no later than Nov 25.
Besides the removal of the CEO, Ng is also seeking a resolution that the appointment of any director to the company&rsquo s board from the date of the requisition to the date of the EGM be invalidated and such directors (if any) to be removed from office with effect from the date of the EGM.
In response to both requisition letters, the company said its board is currently seeking legal advice, including but not limited to the timelines set out in the letters.
Metech added that the board will provide further updates to shareholders when there are material developments on the matters.
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Everyday
Master |
07-Nov-2022 20:17
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Hope they settle their internal reorganisation with effective leadership to steer Metech to a higher level. Metech have been talking about lab diamond for some time but nothing significant happen. Time to wake up.
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For_The_Next_Leg
Senior |
07-Nov-2022 13:40
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$MetechIntl(V3M.SI) sounds like a carbon credit claim for the future! Maybe there is a potential that lab grown diamonds producer can have carbon credits?
https://www.ft.com/content/1e643208-8ef4-41e8-b8a4-1ea45111cd86
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Joelton
Supreme |
07-Nov-2022 09:04
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Metech substantial shareholder seeks EGM to remove CEO
METECH International said it has received a letter dated Friday (Nov 4) from substantial shareholder Ng Eng Tiong requesting the company to reply by Nov 11 whether it will convene an extraordinary general meeting under Section 176 of the Companies Act 1967 to remove Samantha Hua Lei as the company&rsquo s chief executive officer and an executive director.
The requisition letter states that Ng has a 10.1920 per cent stake in the Catalist-listed company, Metech said in a regulatory filing with the Singapore Exchange on Sunday night.
Ng is seeking the removal of the CEO from the date of the EGM. In the requisition letter, Ng also asked the company if it would issue the notice of EGM with, among other things, the date, time and venue of the intended EGM as required as required by the Companies Act and/or the company&rsquo s constitution, by no later than Nov 25, 2022.
Besides the removal of the CEO, Ng is also seeking a resolution that the appointment of any director to the company&rsquo s board from the date of the requisition to the date of the EGM be invalidated and such directors (if any) to be removed from office with effect from the date of the EGM.
The company said that the board is currently seeking legal advice in relation to the requisition letter, including but not limited to the timelines set out in the letter.
It added that the board will provide further updates to the shareholders when there are material developments on this matter.
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Everyday
Master |
03-Nov-2022 12:13
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SSH Ng Eng Tiong added 310k at 0.142 on Nov 1st. Total shares now 15,155,700. Sgx announcement on 2nd Nov. https://links.sgx.com/1.0.0/corporate-announcements/H66ZNY5KWGR5JK9L/e6c3b52cfec2099f9cad5d5e73be5b450877835f08f25ab1d7daebe5eb14b292 |
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WBdisciple
Master |
03-Nov-2022 11:03
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Different groups of shareholders have emerged recently with significant stakes in the Company...hope their interest in Metech will spur more upside for Metech shareholders.. | ||||
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