I have highlighted a sentence in red below....... trade with care.....
Separately, it was announced that a Jarmata Profits Limited bought 33.9 mil shares on the 19th of March 2014, for $1.996 mil (average price of 5.9cts) to bring its stake to 104.08 mil shares or 5.58% .
infopub.sgx.com/FileOpen/_FORM3HTS.ashx?App=Announcement&FileID=289847-----------
Further Updates
The Board also wishes to clarify that the Company’s CEO was first made aware of the Article
sometime around 9.30am on 19 March 2014, upon which immediate steps were taken to halt the
trading of the Company’s securities on the SGX-ST.
The Board wishes to update shareholders that representatives from both the Company and the Vendor
met today, 21 March 2014, to discuss the status of the Proposed Acquisition.
The Vendor’s
representatives requested that the SPA be mutually terminated. However, as the parties have not, as at
the date of this announcement, reached any mutual agreement, verbal, written or otherwise on the
terms of termination of the SPA, the SPA remains valid and binding upon both parties, and pursuant
to the terms of the SPA, parties continue to be bound by their respective obligations under the SPA.
Under the terms of the SPA, neither party is entitled to unilaterally terminate the SPA.
The Board continues to consider all options available to it and will make further announcements as
and when necessary or appropriate.
The Board would like to advise Shareholders that, although the SPA and the Supplemental
Agreement have been entered into and as at the date of this announcement has not been
terminated, the completion of the Proposed Acquisition is subject to conditions precedents being
fulfilled and there is no certainty or assurance as at the date of this announcement that the
Proposed Acquisition will be completed and/or that no changes will be made to the terms
thereof, particularly in view of the Further Updates above. Accordingly, Shareholders are
advised to exercise caution in dealings with the Shares. Shareholders are advised to read this
announcement and any further update announcement(s) released by the Company in
connection with the Proposed Acquisition carefully. 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
21 MARCH 2014
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