Hafary

The Company proposes to split every one (1) Share in the capital of the Company into two (2) Shares. Hafary has continued to firm up after x-d (2.5 cent a share) recently. Has now touched 44.5 cents. Quite unbelievable performance from a stock that is in distribution business of tiles. Tiles!

Rule 838 of SGX
An issuer must satisfy the Exchange that its daily weighted average price, adjusted for the capitalization issue or subdivision of shares ("adjusted price"), will not be less than S$0.50. When deciding, the Exchange may take into account an issuer's adjusted price for the month preceding the application date.


I think this stock split may be rejected. Those buying on news I think better be careful..

Current price 46 cents.. after split 23 cents, which is less than 50 cents
expert opinion?

divads, you got a point. Let's see if there is a way for Hafary to get around this.
btw, this stock has shot up 135% in less than 2 years since this article was published www.nextinsight.net/index.php/story-arch...12-2011/3993-hafary-

and I still wonder why ..hahaha

Look at example of Mencast and one will know that the proposal for stock split by Hafary will be rejected.

Strange.. their lawyer never tell them about this rule 838???

Those buying on the news of the stock split shd take notice.


MEMCAST:
The Directors wish to inform Shareholders that pursuant to Rule 838 of the SGX-ST Listing Manual which requires the Company to ensure that its daily weighted average price, adjusted for a bonus issue, is not less than S$0.50, the Directors are re-evaluating the basis for the Proposed Bonus Issue.
The Directors will release the relevant announcement(s) once they have decided on an alternative basis (instead of one (1) Bonus Share for every one (1) Share as previously mentioned in the Announcement) for the Proposed Bonus Issue.
The Directors wish to assure Shareholders that the Company will continue to explore options to increase the liquidity of the Company's Shares in the market and to reward Shareholders for their continuing support.
By Order of the Board
MENCAST HOLDINGS LTD.
SIM SOON

Divads, SGX gave approval liao. What could be the reason?

Approval for the Share Split
The Company received the listing and quotation notice (“LQN”) from the Singapore Exchange Securities Trading Limited (the “SGX-ST”) on 10 April 2013 to proceed with the listing and
quotation of 214,500,000 new shares in the capital of the Company on the Catalist pursuant to the share split.

strange.. Mencasts rejected, hafary approved..

Mencasts is 1-1 bonus while Hafary 1-1 split... hmm.. wordings make the difference?

This one must go tell Mencasts ,.. hahahaha.. maybe ask Mencasts to change the wordings to split instead of bonus