TIH Limited (formerly: Transpac Industrial Holdings Limited)

[CityFarmer]

Transpac Industrial Holding has announced another capital reduction exercise.

The company will be returning 35 cents per share to shareholder. Rationale given is the following

In light of the difficult investment environment and pending a full review of the investment strategy, the Board has recommended to return surplus cash to shareholders after providing for operating expenses. As and when the strategy is finalised and if it is appropriate, the Board will recommend the recapitalisation of the Company to fund new investments

http://info.sgx.com/webcorannc.nsf/Annou...endocument

(not vested)

[LionFlyer]

Transpac Industrial Holding has announced another capital reduction exercise.

The company will be returning 35 cents per share to shareholder. Rationale given is the following

In light of the difficult investment environment and pending a full review of the investment strategy, the Board has recommended to return surplus cash to shareholders after providing for operating expenses. As and when the strategy is finalised and if it is appropriate, the Board will recommend the recapitalisation of the Company to fund new investments

http://info.sgx.com/webcorannc.nsf/Annou...endocument

(not vested)

I didn't see this coming. They just did a bonus issue in May 2012 to increase their capitalisation.

vested.

[touzi]

http://infopub.sgx.com/FileOpen/30Dec201...eID=269275

1. Terminating existing relationship with Transpac Capital and transferring the investment management in-house.

2. Strategic Alliance with ASM, controlling shareholder ( V-Nee Yeh and Kin Chan's Company ).

3. Strategic Alliance with Andaman Capital http://www.andamancapitalpartners.com/

4. $0.05 dividend with warrants. Warrants has 2 exercise price. $1.28 within first 6 months; $2.28 from 24-36 months. What happen to the period between first and second exercise period ?? I don't quite understand the announcement, can all the warrants be exercised in the first period ? They have no specific requirement for additional funding, the warrant is to "strengthen financial position".

[opmi]

Bonus warrants is a delayed form of right issues. They want money for
co investment for third party fund and seed capital for incubating funds.

They want to be a ARA (music to many here.)

Given Kin Chan track record, should be able to raise good sum of money.

[LionFlyer]

http://infopub.sgx.com/FileOpen/9Jan2014...eID=270377

lai liao


(Not vested)

[Andrewgoh]

I think hes gonna be able to raise more than that.. his ASM fund has USD$1.1 B of AUM.

[opmi]

Who decide what goes into ASM or Transapc fund?

[touzi]

http://infopub.sgx.com/FileOpen/9Jan2014...eID=270377

lai liao

Issuing convertible bonds to Cosmic Ventures Ltd, indirectly owned by Richard Li. I can't figure out the relationship between the previous warrant announcement and this CB. Why should the CB be dependent on the approval of the earlier announcement? Unless they are planning a very big investment and need to combine extra funding from both warrant and CB.

[touzi]

Annual report is out. For the first, the chairman's message is more than 1 paragraph. They have responded positively to one shareholder's feedback during the last AGM.

Unfortunately I have difficulty trying to understand the very first paragraph. Any buddies can help to explain? Thank you.

The Company had performed well, returning about 196% of total capital raised since listing on the Singapore Stock Exchange on 31 March 1994 versus total capital returned to shareholders (including dividend payout) and the Group’s Net Asset Value (“NAV”) as at end of 2013.

[oys-ter]

TIH clarified on 15/5/2014 that the bonus warrant will be non renounceable but i can see that the warrant is trading in the market. So, is the warrant renounceable or non renounceable?