Stock Market Home Page

Rmao.net Stock Markets Forum

Singapore stock market forum :: HangSeng, FTSE and Major NYSE markets liveindices - Technical analysis charts, candlestick, market news and all share markets forum chat. Major stock market news, stock ticker, stock quote and online stock trading forum.
It is currently January 20th, 2019, 5:15 am

All times are UTC + 8 hours




Post new topic Reply to topic  [ 2 posts ] 
Author Message
 Post subject: GRAND BANKS YACHTS LIMITED
PostPosted: August 25th, 2010, 11:36 pm 
Offline
RMAO.net VIP
User avatar

Joined: October 9th, 2008, 11:00 pm
Posts: 6985
FULL YEAR RESULTS * FINANCIAL STATEMENT AND RELATED ANNOUNCEMENT

http://info.sgx.com/webcoranncatth.nsf/ ... penelement


Top
 Profile  
 
 Post subject: Re: GRAND BANKS YACHTS LIMITED
PostPosted: September 6th, 2011, 6:13 am 
Offline
RMAO.net VIP
User avatar

Joined: June 19th, 2009, 12:14 am
Posts: 2376
Singapore Companies
Published September 6, 2011

Grand Banks Yachts gets waiver from watch-list
It obtains deferment in light of $45m share subscription


By NISHA RAMCHANDANI

GRAND Banks Yachts has been granted a waiver from entry on the Singapore Exchange's (SGX) watch-list until Dec 1, in light of a $45 million share subscription by European private equity firm Investindustrial Asian Development Holdings SA.

'An application was made by the company to (SGX) for the deferment . . . taking into account the proposed subscription,' Grand Banks Yachts said in a release to SGX yesterday. 'On Sept 5, SGX advised the company that it has granted a waiver until Dec 1, 2011.'

But if the company's average market capitalisation is less than $40 million over the last 120 market days at the next review in December, it will be placed on the watch-list immediately.

SGX places a company on the watch-list when it records pre-tax losses for the three last consecutive financial years, and has an average daily market capitalisation of less than $40 million over the last 120 market days.

On Aug 29, Grand Banks Yachts issued a notice stating that it has recorded pre-tax losses for the three most recently completed consecutive financial years and that its market capitalisation on the day of the announcement stood at $31.7 million.

On Aug 18, Grand Banks Yachts announced that it had entered into a subscription agreement under which it will issue 136.14 million new shares at $0.33 per share to Investindustrial. The price represents a discount of 9.59 per cent to the volume-weighted average price per share for trades done on Aug 18.

Upon completion, the new shares would constitute about 58.7 per cent of the company's enlarged share capital.

If all the conditions are met, Investindustrial will make a general offer for all the shares that it does not own in Grand Banks Yachts.

'The new capital . . . provides the company with additional security and time to manage through the unfavourable industry business conditions. Further, the subscriber would be able to assist the company's existing management team in expanding the product range quickly to attract new customers, strengthening the distribution system and recruiting additional executives,' Grand Banks Yachts said.

_________________
'Kites rise highest against the wind; not with it' - Sir Winston Churchill

'A practitioner is not judged by the rigour of his logic or by the elegance of his presentation. He is judged by the results.' - Dr Goh Keng Swee


Top
 Profile  
 

Most of our members are at the live stock market chat box now. It's totally free to join the chatbox. Read : Stock Trading Chatbox

Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 2 posts ] 

All times are UTC + 8 hours


Who is online

Users browsing this forum: No registered users and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group