Monday, March 31st, 2025

HG Metal Manufacturing Limited – Renounceable Rights Issue Announcement

Key Points for Investors:

  1. Rights Issue Overview: HG Metal Manufacturing Limited is offering up to 74,254,237 new ordinary shares at S$0.266 per share. This is a renounceable, non-underwritten rights issue.

  2. Offer Ratio and Price: The issue is based on 10 Rights Shares for every 27 existing shares held. The price of S$0.266 represents a 12.8% discount to the last traded price of S$0.305 on October 7, 2024.

  3. Proceeds and Allocation: The company aims to raise approximately S$19.75 million, with proceeds allocated towards core business expansion (25-30%), working capital (35-40%), and strategic investments/acquisitions (30-40%).

  4. Key Date: The record date for shareholder entitlements has not yet been announced. Investors should watch for the final dates and terms in the Offer Information Statement.

  5. Support from Controlling Shareholder: Green Esteel, holding 29% of the shares, has provided an irrevocable undertaking to subscribe to its share of the rights issue and apply for excess rights shares.

  6. Potential Dilution: Depending on subscription levels, Green Esteel’s shareholding may increase to 48.19%, potentially triggering a mandatory offer under Singapore’s takeover code.

Special Considerations:

  • Investors should be aware of the discounts offered and the potential dilution effect on shareholding.
  • The commitment by Green Esteel highlights strong backing, but caution is advised as mandatory takeover conditions may arise if subscription levels are low.

Investor Actions: Shareholders should stay alert for further announcements regarding the record date and offer information statement.

Prime US REIT 1H2024 Distribution Announcement and Exchange Rate Details

Key Facts and Investor Actions: Distribution Details: Prime US REIT will distribute US 0.18 cents per unit for the period from 1 January 2024 to 30 June 2024. Record Date: The Transfer Books and...

Cordlife Group’s Recovery Journey: Resuming Operations and Financial Challenges in 9MFY2024

Cordlife’s Strategic Forward Moves Amid Financial Hurdles Cordlife’s Strategic Forward Moves Amid Financial Hurdles Cordlife Group Limited has announced notable financial challenges for the 9MFY2024 period, with revenue plunging by 55.1% to S\$19.3 million...

Civmec Limited Announces Tax Exempt (Foreign Sourced) Interim Dividend Payout in Singapore Currency

Title: Civmec Limited Announces Interim Dividend Payout – A Boon for Shareholders Civmec Limited, a prominent player in the construction and engineering industry, has recently announced the details of its tax-exempt (Foreign Sourced) Interim...