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Yes.. Yes.. Yes.. Right here waiting. lol
bishalnb ( Date: 19-Jan-2017 12:54) Posted:
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Polaris is gearing up... soon
alexcai ( Date: 17-Jan-2017 13:33) Posted:
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Selldown because of this news?
DISPOSAL OF INVESTMENT IN XMI PTE. LTD.
The Board of Directors (the &ldquo Board&rdquo ) of Polaris Ltd. (the &ldquo Company&rdquo or together with its subsidiaries, the &ldquo Group&rdquo ) refers to a previous announcement dated 24 April 2015, pursuant to which the Company&rsquo s wholly-owned subsidiary, Polaris Device Pte. Ltd. (&ldquo PDPL&rdquo ), acquired 30% of the equity interest (comprising 300,000 ordinary shares) in a multimedia devices manufacturer and distributor, XMI Pte. Ltd. (&ldquo XMI&rdquo ), in consideration of SGD1 and the grant to XMI of an unsecured loan of a total principal amount of USD1,500,000 (the &ldquo Loan&rdquo ), based on the terms and conditions of the unsecured loan arrangement, subscription and shareholders&rsquo agreement (the &ldquo Agreement&rdquo ) with XMI and its founders.
The Board wishes to announce that PDPL has on 23 December 2016 reached settlement with XMI and its founders with regards to the Loan and its investment in XMI, which provides, among other things, that (i) PDPL shall dispose of its entire shareholding in XMI at the consideration of SGD1 and (ii) XMI shall pay to PDPL a total sum of USD1,770,000 (equivalent to SGD2,560,429) (the &ldquo Settlement Amount&rdquo ) in full and final settlement of all payables to PDPL by XMI under the Loan (the &ldquo Disposal&rdquo ).
The Settlement Amount represents a full repayment of the Loan by XMI to PDPL, comprising the principle amount of USD 1,500,000 (equivalent to SGD 2,169,855) and an interest of USD 270,000 (equivalent to SGD 390,574) accrued thereon at an interest rate of 10.80% per annum. As a result of the Disposal, the Agreement shall be terminated and each party thereto shall be released and discharged by the other parties from all and any obligations and liabilities incurred under the Agreement.
The Group has impaired a total amount of USD 1,551,575 (equivalent to SGD 2,196,000) as &ldquo loan receivables from an associate&rdquo in the Group&rsquo s financial statements for the year ended 31 December 2015 due to the uncertainty of recoverability of the Loan at that time. However, the Group will be able to revise such impairment losses in light of the Disposal and the receipt by PDPL of the Settlement Amount.
The Disposal is expected to have a positive impact on the consolidated net tangible assets per share and earnings per share of the Group for the financial year ending 31 December 2016.
None of the Directors (other than in his capacity as a Director or shareholder of the Company, as the case may be) and controlling shareholders of the Company has any interest, direct or indirect, in the Disposal.
http://infopub.sgx.com/FileOpen/2016%2012%2028%20Disposal%20of%20Investment%20in%20XMI.ashx?App=Announcement& FileID=434269
all clearing their books for the year end?
good news is Polaris appeared at top 20 volume today...
market is quiet, looks like only 100shares guy is working hard today..
PRINCE88 ( Date: 17-Oct-2016 11:07) Posted:
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unstopable today... 1c coming soon.
bishalnb ( Date: 14-Oct-2016 12:20) Posted:
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100% up,
can we see 1c today?
bishalnb ( Date: 14-Oct-2016 11:49) Posted:
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bravo at top 20 volume with 50% up
bishalnb ( Date: 14-Oct-2016 10:40) Posted:
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0.006
bishalnb ( Date: 07-Oct-2016 13:06) Posted:
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