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Full Version: Noble Group
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Mr Market has voted as the coming EGM will approve the right issue proposal.  Big Grin

(not vested)
The company SGM, has passed the resolution of right issue, with more than 98% of FOR vote. The very first step to re-cap the company, is settled...

http://infopub.sgx.com/FileOpen/SGM%20po...eID=410092
http://infopub.sgx.com/FileOpen/_Form%20...eID=412259

Seems like Chairman is selling the rights he is entitled to. Could it be due to the lack of money from his pocket as he has to pay bout 120 mil to exercise his??

Or is it he is not optimistic on Noble's future?
(11-07-2016, 07:00 PM)CY09 Wrote: [ -> ]http://infopub.sgx.com/FileOpen/_Form%20...eID=412259

Seems like Chairman is selling the rights he is entitled to. Could it be due to the lack of money from his pocket as he has to pay bout 120 mil to exercise his??

Or is it he is not optimistic on Noble's future?

Mr. Elman has undertaken only 9.58% of total right issues, with entitlement of 22.28% of them, based on formal disclosure. The disposal is expected. Based on latest disclosure, more will be sold in the next few days, as trading period ending.

(not vested, and standing-by)
(11-07-2016, 07:00 PM)CY09 Wrote: [ -> ]http://infopub.sgx.com/FileOpen/_Form%20...eID=412259

Seems like Chairman is selling the rights he is entitled to. Could it be due to the lack of money from his pocket as he has to pay bout 120 mil to exercise his??

Or is it he is not optimistic on Noble's future?

Hv to see next few days if he continues selling. Selling only $1.7 million worth of rights because he has to pay $120 mil doesnt make sense.
Today, is the last trading day for Noble rights, but trading halted till now. There might be lot of pending trades, by nervous right holders, who have no fund to exercise them.
Those with naked short positions are really nervous now .
Most nervous should be Mr. Elman....
Should Elman be nervous? Or he can sue SGX for the lapse causing him losses and inconvenience?
Investors should sue SGX for accountability , otherwise they will be spoiled and take thing for granted .