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Ezra shareholders approved the financing proposal. It might cost shareholders a bomb, with the huge dilution, with the heavily discounted issues.
(not vested)
Ezra gets shareholders’ approval for rights and convertible bonds issues
SINGAPORE (June 23): Ezra Holdings ( Financial Dashboard), the provider of integrated offshore solutions to the oil and gas industry, announced that its shareholders have approved the proposed renounceable underwritten rights issue and the proposed issue of convertible bonds as part of its refinancing strategy.
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http://www.theedgemarkets.com/sg/article...nds-issues
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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There is only the eqty funds raising via rights issue now. CB got to wait
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The global O&G downturn is very severe...
Not many offshore plays on SGX will survive this time round.
Ezra will be one of the first that will go belly up despite this round of capital raising as I viewed it as a stop gap measure to keep financiers outside their doors.
I personally think that swiber will be next in line.
The days when Keppel Fels operating with no order books like in the late 80s through to Y2K may well return after Kep Corp winds off their outstanding order books.
Caveat Emptor
Odd Lots Vested
Ezra
Not Interested In Rights Issue
GG
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Like Swing Media it has been 'sucking' in cash.....
Is it a viable biz in the first place???
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http://infopub.sgx.com/FileOpen/3Q%20FY2...eID=359598
Noted the last quarter and 9 mths period are big improvements to previous comparable periods and cash and cash equivalents have actually increased when looking at their cash flows statement