Blumont

[opmi]

Stock markets is where everyone (me included) think they can leave the party before everyone else.

[pianist]

Stock markets is where everyone (me included) think they can leave the party before everyone else.

at least one person can do that - Ipco company Secretary ng Su ling was mentioned in business times today for being involved in Blumont as well. She also sold 1 million Blumont shares on 2 oct at average px of $2.38.

[NTL]

Ng Su Ling is an Independent Director of Blumont, appointed in Sep 2012. She is also the Independent Director of Liongold.

Based on AR2012, she holds 32.7M shares, which means another 16M Rights. She would be very rich at Blumont peak.

[cfa]

She sold shares just one day before company making announcement on the big acquisition in Australia. She acted on insider info ?

[CityFarmer]

She sold shares just one day before company making announcement on the big acquisition in Australia. She acted on insider info ?

This is a reasonable doubt

For those interested, a simple email to the company IR, or to SGX, is one of the right way to follow-up.

No further speculative statements without facts. Let's be fair.

Regards
Moderator

[CY09]

http://infopub.sgx.com/Apps?A=COW_Corpor...&F=1012842

Shortselling is now banned for blumont and cash upfront for purchasing the stock is now needed. Personally, I think blumont has more to fall as it is too over-valued in its current market price. Unless of course, some1 can put a strong argument that its EPS is going to multiply quickly.

[Dividend Warrior]

http://infopub.sgx.com/Apps?A=COW_Corpor...&F=1012842

Shortselling is now banned for blumont and cash upfront for purchasing the stock is now needed. Personally, I think blumont has more to fall as it is too over-valued in its current market price. Unless of course, some1 can put a strong argument that its EPS is going to multiply quickly.

What will happen to those people who contra or short just before the suspension?

[CY09]

If you had shortsold on Friday, SGX will force buy for you at 9am if I am right.

For those who contraed, it gets a bit complicated. I think they will get their stock but they can only sell it when the security is under their name. And if they cant pay the contract value, their remisiers who had given them the extra credit are likely to grant them a grace period (more than T+2) to let them settle the value of the contract. So we may see a Pop up at the first min of trade and the next few days, there will be a bit of flux in the volumes/prices

[opmi]

If naked short sell, probably will be fined by SGX.

This designated security was seen quite often in
Msian 90s boom. Famous stocks like REPCO & Union Paper.

If anything, I see this as animal spirits back in SG stock market.
Which is needed for stocks, even value stocks to power up.

[oys-ter]

If you had shortsold on Friday, SGX will force buy for you at 9am if I am right.

For those who contraed, it gets a bit complicated. I think they will get their stock but they can only sell it when the security is under their name. And if they cant pay the contract value, their remisiers who had given them the extra credit are likely to grant them a grace period (more than T+2) to let them settle the value of the contract. So we may see a Pop up at the first min of trade and the next few days, there will be a bit of flux in the volumes/prices

Buy-in by SGX will occur on T+3 which is 9/10 wednesday for those who shorted and cannot find share to deliver. SGX will not buy back the share from the open market.