TECHCOMP Holdings expects that its dual listing in Hong Kong would take place on or about 21 December if a number of conditions are met.
The distributor of scientific instruments said so in an announcement last night, adding that the Listing Committee of the Stock Exchange of HK has convened a hearing on 28 Nov to consider the company's application for the listing.
The expected date for the listing is indicative only, as the listing is still subject to Techcomp obtaining the approval in-principle of the SEHK and the fulfilment of certain conditions under the approval. These include the granting of the final approval for the listing of, and permission to deal in, the shares.
Techcomp also gave details of how it would implement a process for the transfer of shares in three batches.
The company's share transfer agent in Singapore, M & C Services Private Limited (the Singapore Transfer Agent), and its share registrar in Hong Kong, Tricor Investor Services
Limited have agreed to waive their charges to shareholders in respect of the batch transfers.
However, CDP’s existing charges will still apply, together with any other costs to be levied by shareholders’ own brokers, nominees or custodians (where relevant).
Any shareholder who wishes to transfer his shares from the Bermuda Principal Register to the Hong Kong Branch Share Register prior to the first day of trading of the shares must do so in the first batch transfer.
If the date of the listing is postponed or if the listing does not occur, shareholders who have withdrawn their shares from the CDP will not be able to trade their shares on the SGX-ST unless their shares are re-deposited with the CDP.
Techcomp's 1H revenue grew 18.8% to US$60.8 million, making it a record six months, thanks mainly to the growth of its manufacturing business in Europe and China.
Overall gross profit margin rose 1.1 percentage points to 30.5%. Net profit, however, came in at US$604,000, down 59% because of a one-off US$758,000 expense for its dual-listing exercise.
Click here for the full Techcomp announcement.
TECHCOMP: 1H Sales up 19%, HK dual-listing plan on track
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Lian Beng Group's wholly-owned subsidiary, L.S. Construction Pte Ltd, has secured the following contracts worth (i) S$13.2 million in aggregate from Housing & Development Board and
(ii) S$84.5 million in aggregate from Lian Beng-Centurion (Mandai) Pte. Ltd., a 55 percent owned subsidiary of the Company:-
HDB’s contract: Building works at Tampines Neighbourhood 1 Contract 13 for a total of 149 dwelling units. Work is expected to commence in December 2011 and is due to be completed by September 2013.
The contract is expected to have a positive financial impact on the net tangible assets per share and earning per share of the Group for the financial year ending 31 May 2002.
Lian Beng Centurion Mandai contracts:
(a) Erection of a 10-storey ramp-up factory at Mandai Estate. Work is expected to commence in November 2011 and is due to be completed by May 2013.
(b) Erection of 2 blocks of 12-storey independent worker’s dormitory development at Mandai Estate. Work is expected to commence in Nov 2011 and is due to be completed by May 2013, (collectively the “Contracts”).
The two Mandai contracts are not expected to have a material financial impact on the net tangible assets per share and earning per share of the Group for the financial year ending 31 May 2012.