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Stock With Momentum: TPC Plus
by Cals Tue 04 Aug 2015, 19:20
Stock With Momentum: TPC Plus
TPC Plus Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) (+ve)
Share price of TPC (Fundamental: 0.75/3, Valuation: 0.3/3) jumped 16.0% to close at 61.5 sen yesterday on active trading, after Bursa Securities ([You must be registered and logged in to see this image.] Financial Dashboard) approved its revised proposed regularisation plan.
The revised plan includes an additional proposal of debt settlement of RM12 million to Huat Lai Resources Bhd ([You must be registered and logged in to see this image.] Financial Dashboard), via the issuance of up to 60 million shares. Huat Lai currently owns a 52.9% stake in TPC.
The initial proposal comprises a share premium reduction of RM5.74 million, a par value reduction from 50 sen to 20 sen per share, and a 3-for-2 rights issue together with 2 free warrants for every 3 rights share subscribed.
To recap, the eggs producer fell into the PN17 status in 2012, after its auditors issued an emphasis of matter opinion regarding its ability to continue as a going concern. It has been lossmaking from 2012-2013. Net gearing is high at 161.4% at end-March.
[You must be registered and logged in to see this image.]
This article first appeared in digitaledge Daily, on August 4, 2015.
TPC Plus Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) (+ve)
Share price of TPC (Fundamental: 0.75/3, Valuation: 0.3/3) jumped 16.0% to close at 61.5 sen yesterday on active trading, after Bursa Securities ([You must be registered and logged in to see this image.] Financial Dashboard) approved its revised proposed regularisation plan.
The revised plan includes an additional proposal of debt settlement of RM12 million to Huat Lai Resources Bhd ([You must be registered and logged in to see this image.] Financial Dashboard), via the issuance of up to 60 million shares. Huat Lai currently owns a 52.9% stake in TPC.
The initial proposal comprises a share premium reduction of RM5.74 million, a par value reduction from 50 sen to 20 sen per share, and a 3-for-2 rights issue together with 2 free warrants for every 3 rights share subscribed.
To recap, the eggs producer fell into the PN17 status in 2012, after its auditors issued an emphasis of matter opinion regarding its ability to continue as a going concern. It has been lossmaking from 2012-2013. Net gearing is high at 161.4% at end-March.
[You must be registered and logged in to see this image.]
This article first appeared in digitaledge Daily, on August 4, 2015.
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