Penguin International

I bought some during the last Sept/Oct dip. As I been holding some since 2013 period and the current price didnt come down fast enough to my comfort level, I had used my cash on other oil/gas counters instead. e.g Boustead and recently and today KepCorp. I agree with BlueKelah that the management might want to conserve cash and hence a dividend cut.

http://infopub.sgx.com/Apps?A=COW_CorpAn...dation.pdf

(23-02-2016, 01:12 AM)Thaddy0103 Wrote: http://infopub.sgx.com/Apps?A=COW_CorpAn...dation.pdf

Please provide, at least, a litttle information with regard to the link. Thanks.


Share consolidation : 3 to 1.

As at the date of this announcement, the Company has an issued and paid-up share capital of
S$94,943,077 divided into 660,518,052 Existing Shares. Assuming that there will be no new
Shares issued by the Company up to the Books Closure Date, the Company will have a share
capital of S$94,943,077 divided into approximately 220,172,684 Consolidated Shares following
the Proposed Share Consolidation. Each Consolidated Share will rank pari passu with each
other, and will be traded in board lots of 100 Consolidated Shares.

To make the price go above 20cts...

3 to 1 is slightly weird number to do. For me, I am going to get odd lots and fractional shares which will be written off.

Guess some rebalancing has to be done

(23-02-2016, 10:30 AM)cyclone Wrote:

(23-02-2016, 01:12 AM)Thaddy0103 Wrote: http://infopub.sgx.com/Apps?A=COW_CorpAn...dation.pdf

Please provide, at least, a litttle information with regard to the link. Thanks.


Share consolidation : 3 to 1.

Oops sorry,noted.

(23-02-2016, 12:07 PM)CY09 Wrote: 3 to 1 is slightly weird number to do. For me, I am going to get odd lots and fractional shares which will be written off.

Guess some rebalancing has to be done

I hate co who cannot think straight. they are going to create lots of odd lot investors and they will hv to manage it yearly with issuing AR, a few dollars of div cheques etc. all the extra work load. Why can't they do with 2:1 or 5:1 or 10:1 which will not create any odd lots and investors can sell in open mkt instead of writing it off.

I have same problem with other counters before and basically written off too. This is why I also hate those co that do scrip div scheme. If you don't participate you lose out. if you do, you are stuck with odd lots again. Nowadays I don't go for scrip div and preferably not to buy such counters.

I wonder what happen to all these odd lot shares once the investor konks off?? The co makan yr shares??

Para 2.2 of the announcement states shares will be rounded down to the nearest whole Consolidated Share and any fractions of Consolidated Shares arising from the Proposed Share Consolidation will be disregarded. It is perhaps not a coincidence why Penguin decided for a share consolidation for 3:1 when Mr Jeffrey holds 120,000,649 shares (AR14). 2:1 and 4:1 does not do him any benefit. Hopes it will be a 2:1 share consolidation instead whereby the current share price adjusted for share consolidation still have sufficient margin above the minimum traded price.

Btw, is the directors abstained from voting in this resolution?

Edit: Sry for any confusion caused. Look like Mr jeffrey is going to have odd lot share even if it is 2:1,3:1,4:1.

120,000,649 : 3 = 40,000,216.3333

(23-02-2016, 07:01 PM)Nuthing03 Wrote: Para 2.2 of the announcement states shares will be rounded down to the nearest whole Consolidated Share and any fractions of Consolidated Shares arising from the Proposed Share Consolidation will be disregarded. It is perhaps not a coincidence why Penguin decided for a share consolidation for 3:1 when Mr Jeffrey holds 120,000,649 shares (AR14). 2:1 and 4:1 does not do him any benefit. Hopes it will be a 2:1 share consolidation instead whereby the current share price adjusted for share consolidation still have sufficient margin above the minimum traded price.

Btw, is the directors abstained from voting in this resolution?

Edit: Sry for any confusion caused. Look like Mr jeffrey is going to have odd lot share even if it is 2:1,3:1,4:1.

I am not sure if Jeffery, having 120 million shares, is so concern with odd lots that the company have to consolidate it at 3:1 ratio.

I am more concern that the company have to resort to shares consolidation to meet the MTP requirement. Luckily it is just a 3:1, and not 5:1 or 10:1.

Not sure if you understand what I am saying.