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Post by zuolun on Apr 3, 2014 9:16:21 GMT 7
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Post by zuolun on Apr 17, 2014 10:05:55 GMT 7
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Post by oldman on Apr 18, 2014 15:19:45 GMT 7
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Post by oldman on Apr 19, 2014 10:06:28 GMT 7
Shareholder placed a notice in Straits Times.....  |
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Post by oldman on Apr 19, 2014 18:59:48 GMT 7
Sounds serious..... -------------------- WAIVER FOR BREACH OF BANK COVENANTS Pteris Global Limited (“Pteris Global” or the “Company”) refers to the full year results announcement released on 27 February 2014 (“Results Announcement”). As set out in the Results Announcement, as at the end of the financial year ended 31 December 2013, the Group has breached certain bank covenants in relation to the loans from its principal bankers. The Group did not fulfil the requirement to maintain tangible networth of no less than S$40 million at all times. The banks are contractually entitled to request immediate repayment of the outstanding loan amounts. Nevertheless, the Group has managed to obtain an agreement from the banks to waive the breach for the financial year ended 31 December 2013. The Company had on 17 April 2014 received the formal waiver letter and wishes to highlight to shareholders that the waiver is effective as from 1 January 2014 to the earlier of the Reverse Takeover Effective Date or 31 August 2014 and is subject to the following conditions: (a) as a condition precedent to the waiver to become effective - receipt by the banks of the executed financial support undertaking provided by CIMC to the Company; and (b) as an ongoing requirement for the waiver to remain effective - the Company’s board of directors to remain substantially unchanged until completion of the Reverse Takeover. Shareholders are advised to exercise caution in dealings with the shares of the Company. Shareholders should consult their stockbrokers, bank managers, solicitors or other professional advisers if they have any doubt about the actions they should take. By Order of the Board, Tan Swee Gek Company Secretary 19 April 2014 infopub.sgx.com/FileOpen/PGL-BankCovenantAnn.ashx?App=Announcement&FileID=292193 |
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Post by oldman on Apr 20, 2014 17:45:04 GMT 7
Like a drama....  |
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Post by odie on Apr 20, 2014 19:36:56 GMT 7
Sounds serious..... -------------------- WAIVER FOR BREACH OF BANK COVENANTS Pteris Global Limited (“Pteris Global” or the “Company”) refers to the full year results announcement released on 27 February 2014 (“Results Announcement”). As set out in the Results Announcement, as at the end of the financial year ended 31 December 2013, the Group has breached certain bank covenants in relation to the loans from its principal bankers. The Group did not fulfil the requirement to maintain tangible networth of no less than S$40 million at all times. The banks are contractually entitled to request immediate repayment of the outstanding loan amounts. Nevertheless, the Group has managed to obtain an agreement from the banks to waive the breach for the financial year ended 31 December 2013. The Company had on 17 April 2014 received the formal waiver letter and wishes to highlight to shareholders that the waiver is effective as from 1 January 2014 to the earlier of the Reverse Takeover Effective Date or 31 August 2014 and is subject to the following conditions: (a) as a condition precedent to the waiver to become effective - receipt by the banks of the executed financial support undertaking provided by CIMC to the Company; and (b) as an ongoing requirement for the waiver to remain effective - the Company’s board of directors to remain substantially unchanged until completion of the Reverse Takeover. Shareholders are advised to exercise caution in dealings with the shares of the Company. Shareholders should consult their stockbrokers, bank managers, solicitors or other professional advisers if they have any doubt about the actions they should take. By Order of the Board, Tan Swee Gek Company Secretary 19 April 2014 infopub.sgx.com/FileOpen/PGL-BankCovenantAnn.ashx?App=Announcement&FileID=292193i guess this waiver shld be requested by their auditors |
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Post by zuolun on Apr 21, 2014 15:08:32 GMT 7
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Post by oldman on Apr 23, 2014 4:41:29 GMT 7
Saga has ended.
______________________________________________________________________________
1) RESIGNATION OF NON-EXECUTIVE DIRECTOR
2) WITHDRAWAL OF THE REQUISITION FOR EXTRAORDINARY GENERAL
MEETING
______________________________________________________________________________
The Board of Directors (the “Board”) of Pteris Global Limited (“Pteris Global” or the
“Company”) wishes to announce that it has this evening received:
1) a letter from Mr Tan Tien Hin Winston (“Mr Tan”) dated 22 April 2014 informing the
Board of his resignation as a director of the Company with immediate effect; and
2) a letter dated 22 April 2014 from Mr Tan for and on behalf of Winmark Investments Pte
Ltd (“Winmark”) stating that Winmark thereby withdraws its requisition for an
extraordinary general meeting (“EGM”) which has been scheduled for 9:00a.m. on 25
April 2014.
The Board notes both the resignation of Mr Tan as a director of the Company and the withdrawal
of the requisition of the EGM.
The Board has been advised that as the EGM was validly requisitioned and notice for the EGM
has been given and despatched to shareholders, the EGM has to proceed on 25 April 2014 at 9:00
am. Winmark’s withdrawal of its requisitions will be duly noted at the EGM.
By Order of the Board,
Tan Swee Gek
Company Secretary
22 April 2014
------------
Statement from Mr Lim Joo Boon, Mr Low Kok Hua, Mr Yu Yuqun, Dr Soon Kong Ann, Ms
Gan Siok Loon (Mrs Lam Siok Loon), Mr Fong Heng Boo, Mr Robert Chew and Mr Zheng
Zuhua
We refer to the statement dated 22 April 2014 from Mr Winston Tan to withdraw all the
proposed resolutions including those for the removal of the five directors at the EGM on this
Friday 25 April 2014.
It is unfortunate that Mr Winston Tan has chosen in the first place to requisition for the EGM
to remove the five directors on grounds that are not supportable. This has put the Company
to unnecessary costs and expenses, at the same time when Mr Winston Tan is complaining
about the losses the Company is incurring and blaming other directors for this.
However, we are glad that good sense has prevailed in the end and that the shareholders will
be able to consider the merits of the proposed RTO at a subsequent EGM to be called, after
they have had the benefit of full information. This will also allow the Company to go about
its business without needless distractions.
We would like to thank all shareholders for their continued support of the Company.
Last but not least, we also wish to thank Securities Investors Association (Singapore)
(“SIAS”) and, in particular, Mr David Gerald, for recognising our need to protect
shareholders' interest and assisting us in our communication with minority shareholders.
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Post by zuolun on Apr 23, 2014 7:40:25 GMT 7
This announcement is uploaded at the request of: 1. Mr Lim Joo Boon 2. Mr Low Kok Hua 3. Mr Yu Yuqun 4. Dr Soon Kong Ann 5. Ms Gan Siok Loon (Mrs Lam Siok Loon) 6. Mr Fong Heng Boo 7. Mr Robert Chew 8. Mr Zheng Zuhua Statement From Messrs Lim, Low, Yu, Soon, Fong, Chew, Zheng And Mrs LamApr 22, 2014 Statement from Mr Lim Joo Boon, Mr Low Kok Hua, Mr Yu Yuqun, Dr Soon Kong Ann, Ms Gan Siok Loon (Mrs Lam Siok Loon), Mr Fong Heng Boo, Mr Robert Chew and Mr Zheng Zuhua We refer to the statement dated 22 April 2014 from Mr Winston Tan to withdraw all the proposed resolutions including those for the removal of the five directors at the EGM on this Friday 25 April 2014. It is unfortunate that Mr Winston Tan has chosen in the first place to requisition for the EGM to remove the five directors on grounds that are not supportable. This has put the Company to unnecessary costs and expenses, at the same time when Mr Winston Tan is complaining about the losses the Company is incurring and blaming other directors for this. However, we are glad that good sense has prevailed in the end and that the shareholders will be able to consider the merits of the proposed RTO at a subsequent EGM to be called, after they have had the benefit of full information. This will also allow the Company to go about its business without needless distractions. We would like to thank all shareholders for their continued support of the Company. Last but not least, we also wish to thank Securities Investors Association (Singapore) (“SIAS”) and, in particular, Mr David Gerald, for recognising our need to protect shareholders' interest and assisting us in our communication with minority shareholders.   
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Post by zuolun on Apr 24, 2014 13:07:12 GMT 7
Pteris Global — Ahead of a reverse takeover (RTO)Pteris had a bearish island top on 21 Apr, after a trading halt on 17 Apr, it traded @ 0.143 (+0.001, +0.7%) on 24 Apr 2014 at 1.55pm. Immediate resistance @ S$0.15, immediate support @ S$0.13, next support @ S$0.123,  Pteris Global (weekly) — Well-supported @ S$0.13
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Post by zuolun on Apr 24, 2014 13:43:44 GMT 7
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