It is always a valid concern, on CEO pledging shares as collateral. Listed company CEO in China to pledge shares for loan, is part of the norm in China, but not in Singapore.
A pledge of 24 mil shares, means more than 10% of total shares issued (total is 216 mil shares from shareinvestor.com). There is a real risk of crashing, once the collateral been dumped to market...
(not vested)
Jason Holdings CEO reveals shares pledged as collateral for credit facilities on SGX trading query
SINGAPORE (June 3): Jason Holdings ( Financial Dashboard), the provider of timber flooring, disclosed that CEO Jason Sim Chon Ang had pledged a total of up to 24 million of his shares in the company or a 15.75% stake on at least four separate occasions as collaterals.
Jason Holdings was responding to queries raised by Singapore Exchange regarding unusual trading activity of its shares on May 28.
...
http://www.theedgemarkets.com/sg/article...ding-query
3X Price to sale, 10X Price to Book, hardly profitable... this is an interesting on-the-fly study of how operators work... not just hinside on Hanergy
(03-06-2015, 12:08 PM)specuvestor Wrote: [ -> ]3X Price to sale, 10X Price to Book, hardly profitable... this is an interesting on-the-fly study of how operators work... not just hinside on Hanergy
To add-on,
Rolling PE is close to 320. The current price, comparing with IPO price in 2012, is +466%, after adjusted 2-to-1 share split in 2014.
What an interesting counter!
It can get more ugly than now, if not handled properly. This is one of the risks of debt with shares as collateral...
(not vested)
CEO Sim of Jason Holdings gets letter alleging default of loan agreement from Lantau
SINGAPORE (June 8): Jason Holdings ( Financial Dashboard), the provider of timber flooring services, says CEO Jason Sim has on June 3 received a letter from Lantau Holdings alleging the default of a loan agreement.
In a filing to the Singapore Exchange, Lantau claimed this was due to a “one-off” technical breach that had occurred on May 26.
Lantau is therefore entitled to exercise its rights and remedies against the collateral as provided by the loan agreement.
However, Lantau says it has elected not to declare an event of default at this time as it is in discussions with Sim a view to resolving all outstanding issues.
...
http://www.theedgemarkets.com/sg/article...ent-lantau
Just saw the share price downed to 0.325 yesterday , game over ?
(01-08-2015, 12:23 PM)cfa Wrote: [ -> ]Just saw the share price downed to 0.325 yesterday , game over ?
if 0.325 is game over, what about this 0.13 (-0.195, -60%)? Value returned?
(03-08-2015, 01:31 PM)desmondxyz Wrote: [ -> ] (01-08-2015, 12:23 PM)cfa Wrote: [ -> ]Just saw the share price downed to 0.325 yesterday , game over ?
if 0.325 is game over, what about this 0.13 (-0.195, -60%)? Value returned?
The up-to-minute valuation is 19 million @ 0.083, more than -20% from IPO price, after adjusted for stock-split.
What a volatile stock!
(not vested)
Nvr followed Jason holdings, but anyone can fill me in quick on what's happen to this counter?
It was inflated to a super high valuation (PE 300+), and now dropping back to reality
Not sure why the price can stay so high for so long, but the drop is real quick. Any foul play here?
(03-08-2015, 06:44 PM)kikababoo Wrote: [ -> ]Nvr followed Jason holdings, but anyone can fill me in quick on what's happen to this counter?
force-sell as CEO Sim has placed the shares as as collaterals?
very dangerous play sia...