12-11-2017, 08:29 AM
(12-11-2017, 03:08 AM)BlueKelah Wrote:Penguin management is quite prudent I think. So if they are on board maybe it will help MPM in future. Just my opinion.(11-11-2017, 03:10 PM)Big Toe Wrote: Come on. MPM is not a sinking ship.
It is a ship that had already sunk.
Now they are trying to haul it up again from the deep blue sea.
Quite simply, if an investor buys into a company with negative equity,
it is the same as using good money to buy trouble.
Investors are strange, there are plenty of companies with strong/sustainable cash flow and a solid balance sheet at reaonable valuation. But nooo, lets's look for trouble instead. (Then again it maybe small change for the big bosses trying to get an autogrpah or two from Vivian Hsu.)
Lol those would be very expensive autographs...
i found more info
http://www.businesstimes.com.sg/companie...olo-marine
[Marco Polo confirmed to The Business Times on Wednesday that Apricot and Penguin will also be granted board seats.
The deals are conditional on - among other things - its total liabilities being pared down to not more than S$12 million prior to the closing of the new investments. The parties involved have agreed to a long-stop date of March 12, 2018.]
[Mr Lee said that the group is seeking about 69 per cent, 71 per cent, and 95 per cent debt forgiveness from its bank lenders, noteholder and for its contingent liabilities, respectively.
New shares will be issued at S$0.035 in part-settlement of these liabilities.
Marco Polo is also proposing to issue over 269 million free warrants to existing shareholders. Each warrant will carry the right to subscribe to one share at the exercise price of S$0.035.]
[Marco Polo is also proposing to issue over 269 million free warrants to existing shareholders. Each warrant will carry the right to subscribe to one share at the exercise price of S$0.035.]
So they are doing the "white knight story" as well as issue warrants and getting banks to forgive debt. Guess what happens after that when the stock start trading again...
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