a lot of people kanna hit.....
in my view, SGX came in too late to deflate the bubble......without SIAS 'questioning', the bubble might have continue longer.....
but then SGX needs people to trade......
something is wrong some where.....
I find the announced proposed purchase (subject to completion, expected to be on or before 6Nov13) of 135.0m Blumont shares (or a 7.84% interest) by this Chairman designate, Mr. Alexander Molyneux, from Mr. Neo Kim Hock (95.0m shares), the Executive Chairman of Blumont, and from an individual investor (40.0m shares) who is neither a substantial shareholder nor director of Blumont, most interesting.....
http://infopub.sgx.com/FileOpen/Form3_Al...eID=259071 [today's announcement]
http://infopub.sgx.com/FileOpen/BGL_Appo...eID=258939 [7Oct13 announcement]
The final purchase price is based on the following formula -
"The initial sale price is set at S$0.40 cents per share, to be adjusted based on the VWAP from date of agreement until the completion date, subject to a floor of S$0.20 cents per share and a cap of S$0.60 cents per share."
This is the first time I come across such a pricing formula, which doesn't make a lot of sense if Mr. Alexander Molyneux is a smart buyer/investor. On closer scrutiny, it does appear to me that this rather creative formula could have been crafted to serve the purpose of trying to guide/stabilise the trading and market prices level of Blumont shares. On this point, I stand to be corrected.
Would Mr Market be willing to be guided by the above formula? Or is Mr Market going to be smarter this time round and take his own course under the present stringent trading rules governing Blumont as a Designated Security now?
There does not seem to be any basis to the range of $0.4 - $0.6 on the face of the current books. My guess is that this is a number based on negotiation between Blumont and Messer Molyneux.
I see the current crop of sellers petering out... I guess if you bought at $1 and above, unless you desperately need the money, you would just take a wait and see approach.
(08-10-2013, 06:46 PM)Behappyalways Wrote: [ -> ]a lot of people kanna hit.....
in my view, SGX came in too late to deflate the bubble......without SIAS 'questioning', the bubble might have continue longer.....
but then SGX needs people to trade......
something is wrong some where.....
Why should SGX bites the hands that feed them ?
(08-10-2013, 05:40 PM)CityFarmer Wrote: [ -> ]You might notice that moderator (and admin) were busy deleting inappropriate posts in this thread.
We will continue to moderate the thread. Please refrain from posting accusation without fact(s) or "cut and paste" them from nowhere.
Regards
Moderator
Dear Moderator,
Yes, I cut and paste because my English is poor. But my intention is to warn people and I did change the words "let this stock" to "xxx" and the sentence ends with a question mark. Is there accusation without facts? If yes, I'm sorry and I will not do it. And you can tell me directly and no need to "cut and paste" them from nowhere. We do not know what is SGX next step. From history, Jade is a good example.
I am not vested here. Are you vested here,Cityfarmer san?
(08-10-2013, 10:15 PM)kbl Wrote: [ -> ] (08-10-2013, 05:40 PM)CityFarmer Wrote: [ -> ]You might notice that moderator (and admin) were busy deleting inappropriate posts in this thread.
We will continue to moderate the thread. Please refrain from posting accusation without fact(s) or "cut and paste" them from nowhere.
Regards
Moderator
Dear Moderator,
Yes, I cut and paste because my English is poor. But my intention is to warn people and I did change the words "let this stock" to "xxx" and the sentence ends with a question mark. Is there accusation without facts? If yes, I'm sorry and I will not do it. And you can tell me directly and no need to "cut and paste" them from nowhere. We do not know what is SGX next step. From history, Jade is a good example.
I am not vested here. Are you vested here,Cityfarmer san?
It is not difficult to know why this forum is getting quiet.
(07-10-2013, 09:54 AM)yeokiwi Wrote: [ -> ]13cts. So interesting.
I wonder whether the 15k to million investor had exited his investment. What a ride.
I think that ah peh investor basically bo tai chi..as based on what his son said about his trading pattern, he didn't monitor and track his portfolio and probably also didn't know his blumont once flew him to above a million dollar worth.
in a way, he has attained the invincible skills of inaction..a feat that is hard to achieve by any ordinary mortal
(08-10-2013, 08:28 PM)cfa Wrote: [ -> ] (08-10-2013, 06:46 PM)Behappyalways Wrote: [ -> ]a lot of people kanna hit.....
in my view, SGX came in too late to deflate the bubble......without SIAS 'questioning', the bubble might have continue longer.....
but then SGX needs people to trade......
something is wrong some where.....
Why should SGX bites the hands that feed them ?
In US, there's the SEC and the respective stock exchanges.
(08-10-2013, 10:15 PM)kbl Wrote: [ -> ] (08-10-2013, 05:40 PM)CityFarmer Wrote: [ -> ]You might notice that moderator (and admin) were busy deleting inappropriate posts in this thread.
We will continue to moderate the thread. Please refrain from posting accusation without fact(s) or "cut and paste" them from nowhere.
Regards
Moderator
Dear Moderator,
Yes, I cut and paste because my English is poor. But my intention is to warn people and I did change the words "let this stock" to "xxx" and the sentence ends with a question mark. Is there accusation without facts? If yes, I'm sorry and I will not do it. And you can tell me directly and no need to "cut and paste" them from nowhere. We do not know what is SGX next step. From history, Jade is a good example.
I am not vested here. Are you vested here,Cityfarmer san?
In the post, it seemed a direct cut-and-paste, without any further comment. You might has the intention to warn, but it isn't read as so, IMO
Furthermore, the statement doesn't base from fact, does it? May be a hearsay or rumor? from somewhere?
I appreciated the initiatives, especially the "xxx".
(not vested, but actively participated due to moderator role, otherwise, I might just ignore it totally)
(08-10-2013, 11:19 PM)Tiggerbee Wrote: [ -> ] (08-10-2013, 08:28 PM)cfa Wrote: [ -> ] (08-10-2013, 06:46 PM)Behappyalways Wrote: [ -> ]a lot of people kanna hit.....
in my view, SGX came in too late to deflate the bubble......without SIAS 'questioning', the bubble might have continue longer.....
but then SGX needs people to trade......
something is wrong some where.....
Why should SGX bites the hands that feed them ?
In US, there's the SEC and the respective stock exchanges.
In Singapore, there is the MAS and Securities Industry Council (SIC), on top of the only exchange, SGX
They have different roles and functions, as stated in SFA, Company Act etc.