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27-04-2015, 05:31 PM
I believe it is a mistake, it is 3.7 cents, rather than 37 cents for the share price. The debt is not a lot, but i really wonder why the company didn't settle it, before the winding-up application? IIRC, the company has no dispute on the debt...
(not vested)
Otto Marine bonds take a beating on winding-up application
SINGAPORE (April 27): Otto Marine ( Financial Dashboard) is in talks to reach settlement on a debt with a creditor which has filed a bankruptcy application.
The news sent Otto's $70-million 7% bond due in August 2016 sliding down 2 points with an indicative bid as low as 87.45. The bonds had been hovering around 93.375 early last week but dipped to 89.50 on Friday before Otto's announcement emerged on Saturday.
The offshore marine services company's stock, listed on the Singapore Exchange, also took a beating, tumbling 11.9% to 37 cents in the afternoon.
...
http://www.theedgemarkets.com/sg/article...pplication
(not vested)
Otto Marine bonds take a beating on winding-up application
SINGAPORE (April 27): Otto Marine ( Financial Dashboard) is in talks to reach settlement on a debt with a creditor which has filed a bankruptcy application.
The news sent Otto's $70-million 7% bond due in August 2016 sliding down 2 points with an indicative bid as low as 87.45. The bonds had been hovering around 93.375 early last week but dipped to 89.50 on Friday before Otto's announcement emerged on Saturday.
The offshore marine services company's stock, listed on the Singapore Exchange, also took a beating, tumbling 11.9% to 37 cents in the afternoon.
...
http://www.theedgemarkets.com/sg/article...pplication
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