(18-08-2013, 09:56 AM)felixleong Wrote: [ -> ]if it trades below $1.50?
actually even if $1 I also wouldn't buy
horrible management
dun think so, I read somewhere, is like sell the shares and buy the in-rights or sometime..anyone can clarify this tactic?
(18-08-2013, 09:34 AM)valerene Wrote: [ -> ]hi hi..i am an existing shareholder and this is the first time i encounter the rights issue.
understand there is a deadline for 20 august, what do i need to do meantime? I did not receive any documents after the call for EGM documents? appreciate fellow buddies advice.
the rights are renounceable - meaning that you will be issued rights that you can sell away on the market if you choose not to exercise them.
http://infopub.sgx.com/FileOpen/Despatch...eID=249324
Entitled Scripholders whose Stock Units are registered in their own names in the Register of Members
of the Company as at 5.00 p.m. on the Books Closure Date will be provisionally allotted the Rights
Shares under the Rights Issue on the basis of the number of Stock Units held by them as stated in the
Register of Members of the Company as at 5.00 p.m. on the Books Closure Date, fractional
entitlements, if any, to be disregarded.
http://infopub.sgx.com/FileOpen/Noticeof...eID=252049
If you currently hold UE shares and wish to receive the rights, then there is nothing you need to do. After XR, you will be credited the rights and you can then choose to sell them away or to exercise the rights. They will sunsequently announce the date on which the rights are credited to your CDP account and the date for which the units are available for trading
If you do not wish to receive the rights, then you should sell away your UE shares before XR.
(18-08-2013, 09:34 AM)valerene Wrote: [ -> ]hi hi..i am an existing shareholder and this is the first time i encounter the rights issue.
understand there is a deadline for 20 august, what do i need to do meantime? I did not receive any documents after the call for EGM documents? appreciate fellow buddies advice.
Shareholder who owns the UE shares before the expiry date of 21 August 2013 is entitled the right to buy another UE share for $1.50. Those UE shares buy after 21 August 2013 will NOT have this entitlement.
As for the right, you can either choose to sell the right in the open market within a period of time or exercise your right (i.e. pay $1.5 and get another UE share). Furthermore, if you are the shareholder of the mother share before the ex date, you're entitled to apply excess right. UE will issue another document call "offer information statement (“Offer Information Statement”)" that state the important information as well as important dates regarding the right issue. The following are the important date you'll need to take note important date and events section. The following is a sample of what will be in the timetbale of key events
EXPECTED TIMETABLE OF KEY EVENTS
Notice of Books Closure Date :
First date of “ex-Rights” trading for the Rights Issue :
Books Closure Date :
Lodgment of Offer Information Statement with the Authority :
Despatch of the Offer Information Statement together with
the ARE or the PAL, as the case may be, to the Entitled
Shareholders
Commencement of trading of “nil-paid” Rights :
Last date and time for trading of “nil-paid” Rights :
Last date and time for splitting of “nil-paid” Rights :
Last date and time for acceptance of and payment for Rights
Shares(1)
Last date and time for renunciation of and payment for Rights
Shares
Last date and time for application and payment for Excess
Rights Shares(1)
Expected date for issuance of Rights Shares :
Expected date for crediting of Rights Shares :
Expected date for refund of unsuccessful applications (if made
through CDP)
Expected date for commencement of trading of Rights Shares
on the SGX-ST
Thanks alot for clarification. Now I am more clear on what to expect
I have login to my CDP account and confirm that the provisional allotment of rights shares are already credited.
If you visit the sgx stock price webpage now, you can see a new counter UE R (code SV4R) created to facilitate its trading tomorrow.
seems like this counter eroded value a little more after the x-right date
The value is behaved as plan after the right. The Right issue price is S$ 1.50. the purpose of the right issues is the lower their debt gearing which is currently at 1.10. Moving forward, anybody has information with their intention to sell the Changi Biz Hub ?
Did it mention it is in the process of divesting changi biz hub to a trust quite sometime ago?
After the acquisition of WBL, the immediately action should be to divest its technology division, IMO.