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Dr Lin Yucheng Citic Enviro(UTD) is back in SGX
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561-580 of 770
Stocksguru ( Date: 28-Apr-2021 12:10) Posted:
Will drop back to 10 cents?
eric998 ( Date: 27-Apr-2021 12:06) Posted:
markey did not take the news positively.. now they go for rights issues.. think BBs will play again.. but let the price settle down first.. if you have faith in the CEO then follow him.. HUAT!!
Dr Lin Yucheng, the Chairman and Chief Executive Officer of the Company, who holds 198,000,000 shares in the Company, representing 14.9% of the existing issued and paid-up share capital of the Company at the date of this announcement, will provide an irrevocable undertaking to subscribe and pay in full his entitlements of the Rights Shares in the Possible Rights Issue
Possible Rights Issue As an alternative to the Placement, the Group is now contemplating a possible rights issue of up to 663,488,100 new shares at an issue price of S$0.10 for each rights share (&ldquo Rights Issue Price&rdquo ) on the basis of one (1) rights share for every two (2) existing shares held by entitled Shareholders (&ldquo Rights Share&rdquo ) as at a record date to be determined, fractional entitlements to be disregarded (&ldquo Possible Rights Issue&rdquo ). The Possible Rights Issue Price of S$0.10 represents a discount of approximately: a) 31.0% to the last traded price of S$0.145 per Share on the SGX-ST on 23 April 2021 and b) 23.1% to the theoretical ex-rights price of S$0.130 being the theoretical market price of each Share assuming the completion of the Possible Rights Issue) as calculated based on the last traded price of S$0.145 per Share on the SGX-ST on the Last Trading Day. The Company intends to announce the Possible Rights Issue, together with detailed terms, subject to Shareholders approving resolution 11 on granting Directors the authority to allot and issue new shares at the forthcoming annual general meeting of the Company to be held on Friday, 30 April 2021. The Possible Rights Issue, if proceeded, is an optimal and equitable form of fundraising, and will entitle existing Shareholders who are confident in the prospects of the Group and the track record of its management to participate in such fundraising. If fully subscribed, the total gross proceeds of the Possible Rights Issue are expected to be approximately S$66.3 million. Dr Lin Yucheng, the Chairman and Chief Executive Officer of the Company, who holds 198,000,000 shares in the Company, representing 14.9% of the existing issued and paid-up share capital of the Company at the date of this announcement, will provide an irrevocable undertaking to subscribe and pay in full his entitlements of the Rights Shares in the Possible Rights Issue |
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Touch 112 and turned around, shifting to buy up?
Will drop back to 10 cents?
eric998 ( Date: 27-Apr-2021 12:06) Posted:
markey did not take the news positively.. now they go for rights issues.. think BBs will play again.. but let the price settle down first.. if you have faith in the CEO then follow him.. HUAT!!
Dr Lin Yucheng, the Chairman and Chief Executive Officer of the Company, who holds 198,000,000 shares in the Company, representing 14.9% of the existing issued and paid-up share capital of the Company at the date of this announcement, will provide an irrevocable undertaking to subscribe and pay in full his entitlements of the Rights Shares in the Possible Rights Issue
Possible Rights Issue As an alternative to the Placement, the Group is now contemplating a possible rights issue of up to 663,488,100 new shares at an issue price of S$0.10 for each rights share (&ldquo Rights Issue Price&rdquo ) on the basis of one (1) rights share for every two (2) existing shares held by entitled Shareholders (&ldquo Rights Share&rdquo ) as at a record date to be determined, fractional entitlements to be disregarded (&ldquo Possible Rights Issue&rdquo ). The Possible Rights Issue Price of S$0.10 represents a discount of approximately: a) 31.0% to the last traded price of S$0.145 per Share on the SGX-ST on 23 April 2021 and b) 23.1% to the theoretical ex-rights price of S$0.130 being the theoretical market price of each Share assuming the completion of the Possible Rights Issue) as calculated based on the last traded price of S$0.145 per Share on the SGX-ST on the Last Trading Day. The Company intends to announce the Possible Rights Issue, together with detailed terms, subject to Shareholders approving resolution 11 on granting Directors the authority to allot and issue new shares at the forthcoming annual general meeting of the Company to be held on Friday, 30 April 2021. The Possible Rights Issue, if proceeded, is an optimal and equitable form of fundraising, and will entitle existing Shareholders who are confident in the prospects of the Group and the track record of its management to participate in such fundraising. If fully subscribed, the total gross proceeds of the Possible Rights Issue are expected to be approximately S$66.3 million. Dr Lin Yucheng, the Chairman and Chief Executive Officer of the Company, who holds 198,000,000 shares in the Company, representing 14.9% of the existing issued and paid-up share capital of the Company at the date of this announcement, will provide an irrevocable undertaking to subscribe and pay in full his entitlements of the Rights Shares in the Possible Rights Issue
TraderBen ( Date: 27-Apr-2021 09:06) Posted:
| no placement is good news or bad news? |
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3DecadesTrader ( Date: 26-Jan-2021 14:48) Posted:
| have just longed 100k shares @ 170. |
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markey did not take the news positively.. now they go for rights issues.. think BBs will play again.. but let the price settle down first.. if you have faith in the CEO then follow him.. HUAT!!
Dr Lin Yucheng, the Chairman and Chief Executive Officer of the Company, who holds 198,000,000 shares in the Company, representing 14.9% of the existing issued and paid-up share capital of the Company at the date of this announcement, will provide an irrevocable undertaking to subscribe and pay in full his entitlements of the Rights Shares in the Possible Rights Issue
Possible Rights Issue As an alternative to the Placement, the Group is now contemplating a possible rights issue of up to 663,488,100 new shares at an issue price of S$0.10 for each rights share (&ldquo Rights Issue Price&rdquo ) on the basis of one (1) rights share for every two (2) existing shares held by entitled Shareholders (&ldquo Rights Share&rdquo ) as at a record date to be determined, fractional entitlements to be disregarded (&ldquo Possible Rights Issue&rdquo ). The Possible Rights Issue Price of S$0.10 represents a discount of approximately: a) 31.0% to the last traded price of S$0.145 per Share on the SGX-ST on 23 April 2021 and b) 23.1% to the theoretical ex-rights price of S$0.130 being the theoretical market price of each Share assuming the completion of the Possible Rights Issue) as calculated based on the last traded price of S$0.145 per Share on the SGX-ST on the Last Trading Day. The Company intends to announce the Possible Rights Issue, together with detailed terms, subject to Shareholders approving resolution 11 on granting Directors the authority to allot and issue new shares at the forthcoming annual general meeting of the Company to be held on Friday, 30 April 2021. The Possible Rights Issue, if proceeded, is an optimal and equitable form of fundraising, and will entitle existing Shareholders who are confident in the prospects of the Group and the track record of its management to participate in such fundraising. If fully subscribed, the total gross proceeds of the Possible Rights Issue are expected to be approximately S$66.3 million.
Dr Lin Yucheng, the Chairman and Chief Executive Officer of the Company, who holds 198,000,000 shares in the Company, representing 14.9% of the existing issued and paid-up share capital of the Company at the date of this announcement, will provide an irrevocable undertaking to subscribe and pay in full his entitlements of the Rights Shares in the Possible Rights IssueTraderBen ( Date: 27-Apr-2021 09:06) Posted:
| no placement is good news or bad news? |
|
no placement is good news or bad news?
Trading halt...
Wondering if it is good or bad news...
Engine warming up :)
Started moving
Placement at 17 cents why the share price at 10% discount?
A commentary of the competitive conditions of the industry in which the group operates and any known factors that might affect the group in the next reporting period and the next 12 months has been provided.
The Group has been actively working on its transformation plans and is beginning to see positive developments as we enter 2021. Having established a core team of specialists and instilled an enterprise culture of technological innovation and management efficiency, the Group has developed proprietary technologies focusing on addressing pressing environmental issues. Our key business focus includes municipal sludge management, industrial wastewater treatment, production of high performance membrane products, and greentech investments.
Municipal sludge is a by-product of wastewater treatment process. Currently at its nascent stage, the Sludge treatment and disposal industry in China is expected to become a multi-billion dollar industry due to the sheer volume produced and a lack of proven suppliers of the treatment solutions. The Group has developed integrated solutions with proprietary technologies for treatment and efficient energy recovery system to achieve the objectives of zero waste discharge and resource recovery.
With the increased demand arising from higher discharge standards imposed by the local authorities and the demand for recycled water for industrial use in China, the industrial wastewater treatment segment has a greater potential for growth and a higher barrier to entry as compared with municipal wastewater treatment. The Group has equipped itself with advanced membrane technologies to tackle the treatment and recycling of highly pollutive industrial wastewater.
The Group has successfully secured two projects recently, namely, an industrial wastewater treatment project in Shijiazhuang and a municipal sludge BOT project in Tianjin. In addition, the Group has acquired Bituo Environmental Technologies (Tianjin) Co., Ltd. Bituo is an environmental technology company specialising in municipal sludge treatment with nine patents covering different technologies and processes. The technologies can improve overall effectiveness, energy recovery of the sludge treatment process and bring significant cost savings.
The Company has entered into a 60:40 joint venture with Nanosun Pte. Ltd. to develop and produce high performance Nano-Ti membranes. This strategic investment is expected to augment our position as an integrated solutions provider of membrane-based treatment technologies.
The successful implementation of and transformation to a high-tech oriented business focusing on the opportunities in resolving key environmental concern segments gives the Group a differentiated advantage, and demonstrates the capabilities and strengths of the Group.
Notwithstanding the positive developments, the general business environment remains challenging, and companies continue to face headwinds due to the COVID-19 pandemic, which caused economic upheaval to the global economy. China has seen resurgence of COVID-19 in some cities which culminated in the re-instatement of lockdown measures. However, through the swift and intensified efforts of the PRC government, the spread of COVID-19 was well-contained in these cities without adverse impact on the Chinese economy. Importantly, the PRC government recognises the criticalness of environmental issues and is committed to addressing them.
On the economic front, China had recently reported a gross domestic product increase of 6.5 percent in the fourth-quarter of 2020, bringing the country' s full-year expansion to 2.3 percent. The robust recovery of its economic growth to prepandemic rate gave management the added confidence to embark on another private placement exercise to raise more funds to undertake more environmental-related projects in China. The Group remains committed to its long-term strategy to transform and build its capabilities while looking for opportunities to grow the Group.
Barring any unforeseen circumstances, management is confident of an improved financial performance in FY2021
Hmm... didnt expect huge losses reported....
https://links.sgx.com/FileOpen/LETL%20-%20Placement%20Update%20Announcement.ashx?App=Announcement& FileID=649723
The Board wishes to update that:
(a) the Placement Agent has confirmed that as at the date of this announcement, the Placement Agent has received firm commitments from subscribers of S$59,999,987.00 (approximately S$60.0 million) under the Placement
(b) one of the placees under the Placement is Ms Pan Shuhong, who is a substantial shareholder of the Company holding approximately 12.68% of the total number of issued Shares as at the date of this Announcement. Ms Pan Shuhong will be subscribing for 13,000,000 Placement Shares (equivalent to approximately S$2.2 million at the Placement Price of S$0.17). As the exceptions under Rule 812(3) of the Listing Manual are applicable, the Company will not be seeking the approval of Shareholders for the placement of Placement Shares to Ms Pan Shuhong and
(c) the Placement Agent may elect to exercise the Upsize Option (to raise additional gross proceeds of up to approximately S$20.0 million) if suitable strategic investor(s) are identified.
The Board wishes to highlight that the Placement is subject to, inter alia, (i) the approval of Shareholders at an extraordinary general meeting of the Company to be convened and (ii) the approval in-principle for the listing and quotation of the Placement Shares on the Main Board of the SGX-ST having been obtained from the SGX-ST. Further details on the conditions precedent to the Placement pursuant to the Placement Agreement are set out in paragraph 3.3 of the Placement Announcement.
The Company will continue to keep Shareholders updated and release announcements relating to the Placement (including any material developments and progress made) as may be appropriate from time to time. Shareholders and potential investors should note that the Placement is subject to the fulfilment of, inter alia, certain conditions precedent, and accordingly, should exercise caution when trading in the Shares. Persons who are in doubt as to the action they should take should consult their legal, financial, tax or other professional advisers.
117,647,000 Placement Shares (equivalent to approximately S$20.0 million at the Placement Price of S$0.17) to Dr Lin Yucheng (the " Chairman Placement" )
Dr Lin Yucheng will increase from 198,000,000 to 315,647,000, representing 18.8%
Business plan / company introduction provided in the announcement. Quite a good read up, vested long term in this company!
Tackling sludge treatment issue in China with proprietary technologies, 9 patented technologies along with the JV with NanoSun. Lots of competitive advantage, slowly accquiring market share in China. Already in Tianjin and Hebei.
poor market sentiment, but wave two has arrived!
Its ok, first and foremost volume is back. Plus yesterday the knee jerk across the market you can see the price held up pretty well, wave 2 lets go! when this BB is here the run up is no joke
john_ric ( Date: 27-Jan-2021 14:08) Posted:
Today roller coaster again.
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Today roller coaster again.
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have just longed 100k shares @ 170.
