Originally posted by kokov:
This shows that Emcom Limited is owned by JP.
Extracted from
(Infocast News) China Photar Electronics Group Limited (8220) said
Emcom Limited will make general offer for the entire shares of
China Photar at the price of $0.017 apiece after taking nearly 74%
stake in the company.
China Photar agreed to sell a total of 1.8 billion new shares to
Emcom Limited and Smart Step Holdings Limited (a party acting in
concert with Emcom) at $0.017
apiece, raising $30.6 million. Upon completion, Emcom and
the party acting in concert will own approximately 73.85% of the
enlarged issued share capital of China Photar.
Emcom will offer to buy the shares of China Photar it does not
already own at $0.017 apiece and the convertible note at a price of
$51,644 per $500,000 in the principal amount of the convertible
note. Emcom is owned by three merchants
from Singapore.
Trading in the shares of China Photar is resumed today.
The price of $0.017 for each share represents a discount of
approximately 94.24% to the closing price of $0.295 on the last
trading day. Proceeds from the share sale to Emcom shall be applied
as to $8 million for repaying of shareholder's loan and upon which
Chen Jijin, a substantial shareholder shall duly execute a deed of
release for full discharge of the shareholder's loan. About $20.4
million from the proceeds will be used for redemption of the
convertible note and the remaining balance of approximately $2.2
million will be used for general working capital.
Pursuant to the subscription agreement, 1.62 billion China Photar
shares will be subscribed by Emcom, and 180 million China Photar
shares will be subscribed by Smart Step, representing approximately
66.46% and 7.39% respectively of the enlarged issued share capital
of China Photar.
Upon completion, the shareholding of Modern China Holdings Limited
(MCH) which is held by Chen Jijin in China Photar, will be diluted
from 54.39% to 14.22%. In order to restore the minimum public float
requirement, Emcom and the party acting in concert will place 1.319
billion shares after completion, adding the full conversion of the
convertible notes, the shareholding of Emcom, Smart Step and
parties acting in concert with them will be 61.45%, while
shareholding of MCH is 13.55%.
[b]Emcom is beneficially owned as to 75% by Phang Wah, 15% by Yong
Wai-hong and 10% by Lee Ping-yeow, all citizens of
Singapore. They altogether have been actively engaged in
the development of telecommunication infrastructure and
telecommunication services in the Asia Pacific region.
Smart Step is an investment holding company which is solely and
beneficially owned by Lim Yi-shenn, a citizen of Singapore. Lim has
more than 10 years of banking and corporate experience
[/b]
You should refer to NYSE and see their normal stocks trading
price..
it's a minimum of $0.20-$0.30 per piece of share and the majority
of those shares are priced at $0.50 per share if not over a $1
etc...
compare it to that share with you said..$0.017..
Trust worthy or not?
What type of company will offer the shares at such a LOW
PRICE??
Anyway..since you're neither an investor nor an independent
distributor than I shall not elaborate further..
if you want to know more about shares, bonds, mutal funds, options,
unit trusts etc..go seek a Financial Planner/Advisor with License
on Proper Investments..
Btw: To those investors in this company..It's sad to read that
Emcom only belongs to 3 peson..
So what did i say in the passed actually was true, and thanks for
your posting..it proved what I said is true ...when people invest,
they are just using their (people's) money to increase their
(shareholders') own wealth.. and neither do they own any shares of
emcom nor can they explain why they should invest...
why invest when you don't own any share of the project?
is that smart investment or rather should i say blind investment
just for greed?
you be your own judge..
don't need to answer to me, answer it to yourself..
