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(Post 1 of 56) 06/28/1999.23:54:00 |
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Observation from XX Securities TA. Yet another very similar pattern as that of SNP 500. If brk-out observed (probably above $1.00), likely upside could be 74.5 cents (that's 74.5% !). As for the warrant (probably above $0.80), likely upside could be 70 cents (that/s 87.5% !). As currently both are still within the bull flag range, nothing has been confirmed. Furthermore, as mentioned earlier, previous high (mother at $1.12 , warrant at $0.90) must be tested b4 new high is made. Just for info, see who would like to try their luck on this piece after SNP 500. Rdgs |
| (Post 2 of 56) 09/28/1999.11:31:00 |
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Network Foods H1 net loss 829,000 sgd vs loss 14.56 mln SINGAPORE (AFX-ASIA) - Network Foods International Ltd six months to June results: Net loss - 829,000 sgd vs loss 14.56 mln Sales - 23.17 mln sgd vs 21.27 mln Pretax loss - 1.62 mln sgd vs loss 15.25 mln Loss per share - 1.0 cents vs loss 24.0 Interim div - nil, unchanged The company said it expects operating results to improve further as it continues to pursue its strategy to consolidate proprietary brands, seek exponential growth from supplementary new agency lines and control costs. It said potentially lucrative new agencies have been secured in Malaysia, Singapore and Hong Kong. These new agency lines should contribute significantly in the second half. Network added that manufacturing units are expanding their platforms, with Malaysia and India both embarking on private label and contract packing arrangements for additional volume. In a review of the first half, it attributed the lower loss to the continued focus on proprietary brands, new agency lines and cost reductions, as well as gains from the rupiah/U.S. dollar rate which generated a largely unrealised gain of 1.5 mln sgd compared to a 9.5 mln loss last year. ah/mb AFN GTS07-27Sep99 10:37 GMT AFX ; ASIA ; |
| (Post 3 of 56) 12/08/1999.10:27:00 |
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NETWORK FOODS INTERNATIONAL LTD The Directors ("Directors") of Network Foods International Ltd (the "Company") wish to announce that Quintrinox Pte Ltd ("Quintrinox"), an investment holding company and a wholly owned subsidiary of the Company, has increased its equity interest in its wholly owned subsidiary, Network Foods (Malaysia) Sdn Bhd ("NFM"), by subscribing for an additional 2,256,500 ordinary shares of RM1.00 each at par. Following the aforesaid subscription by Quintrinox, the enlarged issued and paid-up capital of NFM stands at 5,256,500 ordinary shares of RM1.00 each. The purpose of the subscription is to strengthen the capital base of NFM to finance the increase in business operation. The transaction is not expected to have any material impact on the earnings per share or net tangible assets per share of Quintrinox or of the Company. None of the directors or substantial shareholders of the Company has any interest, direct or indirect, in the aforesaid transaction save their shareholdings in the Company. Submitted by Ching Huay Yong, Company Secretary on 8/12/1999 to the SES |
| (Post 4 of 56) 12/10/1999.23:28:00 |
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Singapore's Network Foods Gets OK For 4-for-1 Stock Split SINGAPORE (Dow Jones)--Network Foods International Ltd. (NFDI.SI) said Friday it has received in-principle approval from the Singapore Exchange for a four-for-one stock split. This means one ordinary share of S$1 par in the company will now be converted into four ordinary shares of S$0.25 each. |
| (Post 5 of 56) 12/13/1999.10:49:00 |
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Besides the share split 1-for-4 ($1 par value to $0.25 par value), for 10 splitted share there will be 5 rights at $0.25 subcription with 4 warrants 2004. Probably will not be speculated as much as AsiaMedic. I bought a bit. Highlights from SGX website. The Warrants 2000 will be split with exer price of of $0.25 each It is also proposed a renounceable rights issue (the "Rights Issue") of new ordinary shares of $0.25 each (the "Rights Shares") in the capital of the Company with detachable warrants ("Warrants 2004") to subscribe for New Shares of $0.25 each in the capital of the Company, at an issue price of $0.25 for each Rights Share with Warrant 2004 on the basis of five (5) Rights Shares with four (4) Warrants 2004 for every ten (10) ordinary shares of $0.25 each. APPROVALS In-principle approval by the SGX for the Share Split and the listing and quotation of the Shares of $0.25 each arising from the Share Split, the Rights Shares, the Warrants 2000 arising from the Share Split, the Warrants 2004, the New Shares (of par value of S$0.25 each) arising from the exercise of the Warrants 2000 and the Warrants 2004 was obtained on 9 December 1999. The Share Split, Rights Issue and the increase in the authorised share capital of the Company are, however, subject to the approval of the Shareholders at an EGM to be convened. PMRI Investments (Singapore) Pte Ltd ("PMRI"), which is beneficially interested in 46,944,022 ordinary shares of $1.00 each in the capital of the Company, representing approximately 79.12 per cent. of the issued and paid-up capital of the Company, has undertaken to subscribe for, or procure subscriptions for, 93,888,044 Rights Shares (the "Subscribed Rights Shares"), representing its entitlement in full under the Rights Issue (the "Undertaking"). |
| (Post 6 of 56) 12/13/1999.11:10:00 |
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ANyone going for the warrent, one of the top gainers for mum, cheers!!! |
| (Post 7 of 56) 12/29/1999.15:38:00 |
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go for the wt, lagging big time behind mother. |
| (Post 8 of 56) 12/29/1999.22:56:00 |
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HOLY TORNADO ! I just checked the price of recent low of NetworkF warrant and it's at 6cts. With today closing price of 44.5cts, that's a increase of 7 folds in just a several days. My sincere congrads to anyone here holding to it's warrants ! With an initial investment of S$5000, you have a return of S$40,000 ! Here is the chart for Network Food. Chuan Hup the 2nd in the making. Congrads again ! I really missed it now. From a low 44cts to today close of 1.35, a gain of 91cts. Do watch out for profit taking and corrections like CH.  |
| (Post 9 of 56) 01/03/2000.10:20:00 |
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Hi, The share split took place today and the price is about 29cents. So that means if I bought in last week at $1.30, I end up with losses since 29cents x 4 = $1.16. Is that right? |
| (Post 10 of 56) 01/03/2000.10:36:00 |
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If you got 1, now u got 4. Simple. Get it? Mother is moving, and wt entitles you to buy mother @0.25. Mother's now trading at 0.32...means wt is super cheap at 0.10. So, now you know what to go for? |
| (Post 11 of 56) 01/03/2000.23:37:00 |
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Anyone has any opinion on Network Warrant? It's dirt cheap at 10cts now but it has only 4 more months to go. Any of the warrant players have any thought to share? |
| (Post 12 of 56) 01/04/2000.00:02:00 |
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What is the difference between Ex-date (3 Jan) and Buy-in Last cum date (7 Jan) and record date (7 Jan)? Waiting for enlightenment. Thanks in advance. --cheers!!-- |
| (Post 13 of 56) 01/04/2000.06:33:00 |
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Rover, you can find the answer at : About the Stock Market: Terminology of shares: Ex date, buy in last cum date & record date |
| (Post 14 of 56) 01/06/2000.12:39:00 |
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Folks, Becareful with NetworksW00. These will expire on April 10 2000. Following the 4:1 stock split recently the strike was adjusted down from $1.00 to 25c. At present price of 8c it is NOT very attractive vis-a-vis mother shares of 27c. Reason? Expiry warrants have a habit of COLLAPSING to nil values towards the end of their life as players who hold lots of these have to decide whether to pay up for the conversion price or sell. It also gives the arbitrage players ample opportunity to force down warrants price by simply holding down mother shares close to strike levels of 25c. Think about it folks, if you had 10 lots of wrts ahead of the split, it would now be 40 lots. You would have to finds the cash to subscribe (most would find it quite tough in a falling market), and will more likely dump them to recover cash. After all, they still have the rights issue to face, which is the 2nd stage of the recapitalisation exercise Network undertook recently. There was a 1:2 rights issue at 25c with some warrants04 as well. Many will find it hard to stump up for the W00 conversion AND the rights issue that follows. Result? Prices for these will drift lower and slump rapidly in the dying days ahead of expiry. Don't be fooled by market talk about "play this, and play that!" The only play happening will be the wholesale "play-out" of punters if they enter this stock blindly. Just my 2.5c worth |
| (Post 15 of 56) 01/06/2000.15:20:00 |
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People's index:  |
| (Post 16 of 56) 01/06/2000.16:11:00 |
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| (Post 17 of 56) 01/06/2000.17:20:00 |
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If you think in 4 months time, mother will do below or at 0.25, then sell. If not, hold. Not worth it to sell now. I picked up mine when i bot it cr. Think a lot of people did tat too. Volume is low and once the play comes in, you'll see this fly to above 10cts. However, chce is still yours. Cheers! |
| (Post 18 of 56) 01/06/2000.17:45:00 |
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Mezz: I wonder if you would feel the same way if the wrts were to drop down to 1c and the mother shares are below 25c? Would you still hold? The point is: sell wrts now and buy back lower, or even consider to buy the nil-paid rights issue when it trades on SGX. That way you get the new shares faster, and the company will be stronger for it! |
| (Post 19 of 56) 01/07/2000.17:12:00 |
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well well well.....see the baby follow the mother today? still not enuff, see mother hit 0.35 tomolo, and my baby will be well supported @0.10. :) Dun sell lah, sell and we'll all be just depressing the mkt further. Me looking at 0.12 and above for the babies. Hope it comes soon. Cheers! |
| (Post 20 of 56) 01/07/2000.17:39:00 |
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mezz, i am with you still holding the baby and the mother. Have a Great Day |
| (Post 21 of 56) 01/10/2000.09:01:00 |
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Oldman, any idea when we'll get the 'extra' warrants since there's a 4 for 1 spilt last week? Me loaded up another couple of dozens @0.08 on friday. Cheers! |
| (Post 22 of 56) 01/14/2000.14:02:00 |
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holy smoke....no one has any idea? |
| (Post 23 of 56) 01/16/2000.16:27:00 |
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Just receieved the papers to buy the Rights for network foods at $0.25. It is my understanding that for $0.25, I am entitled for one share of par value of $0.25 and 4 warrants attached to it. In other words, if I buy 1000 rights, I will get the 1000 rights and 4000 warrants. Can someone please clarify and is this a good bargain. Pls share your comments. |
| (Post 24 of 56) 01/16/2000.19:59:00 |
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If i'm not wrong, 10000 rights = 10000 main shares with $0.25 exercise price + 4000 warrants FOC. |
| (Post 25 of 56) 01/17/2000.11:05:00 |
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Adjustments to Warrants 2000 pursuant to a Share Split To: Holders of Warrants 2000 (as defined below) Notice is hereby given that in view of the subdivision of the shares in the share capital of Network Foods International Ltd (the “Company? by dividing each ordinary share of S$1.00 into four (4) ordinary shares of S$0.25 each (the “Share Split?, the adjustments made to the 5,911,043 outstanding warrants issued by the Company in 1997 (“Warrants 2000? as at 5:00 p.m. on 7 January 2000 and the exercise price of the Warrants 2000 are as follows :- Number of Warrants 2000 Number of Warrants 2000 prior to adjustment : 5,911,043 Number of Warrants 2000 pursuant to adjustment : 23,644,172 Exercise Price Exercise Price prior to adjustment : $1.00 Exercise Price pursuant to adjustment : $0.25 (Based on the adjustment formulae contained in the Deed Poll and the 5,911,043 outstanding warrants as at 5:00 p.m. on 7 January 2000) Effective date and time of the above adjustments : 5:00 p.m. on 7 January 2000 |
| (Post 26 of 56) 01/24/2000.12:38:00 |
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Look like the fall for this counter is limited at 0.235., it is time to accumulate. |
| (Post 27 of 56) 01/27/2000.18:41:00 |
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can someone explain why is it keep falling??? |
| (Post 28 of 56) 02/13/2000.20:10:00 |
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since the trading of the warrants, they have been traded btw 0.11-0.135. With these prices, the mothershare stay ard 0.21-0.225. Is it possible for a mothershare trading at 20+ cents having its warrants trading at less than 10c difference? Pls adv. |
| (Post 29 of 56) 02/13/2000.22:30:00 |
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i fail to understand the retail investors...are they really irrational...push up the warrants to high of $0.135...while majority shareholders are in a hurry to dispose their expiring warrants and mother share trading at below $0.22...premium of 65%. The warrants are trading at a low absolute cost but at a vey high premium. The upside is very limited even if the mother share recovers to $0.25 (cost of the rights)....and really the market termed as irrational exuberance to push this warrant...my first contribution to this forum thanks. |
| (Post 30 of 56) 02/18/2000.14:28:00 |
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any reason for the increase in px? |
| (Post 31 of 56) 02/29/2000.11:50:00 |
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Warrant00 trading at 3 cents today while the mother is 22 cents. Exercise of the warrant is 25cents. so if you got to exercise the warrants, the amount for the mother share would be 28cents. Worth it ? I think a firm no. If the stockist want to play up this share, then this morning vol will not be only 2000 plus. I think this is purely retail interest. Guys holding on, better switch to the W05. As W00 will expire in a month time. expected value of warrant to be closed at 0.5cent on april. |
| (Post 32 of 56) 02/29/2000.11:56:00 |
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One more things to add, if u go through the ses announcement, the holding company had sold most if not all of their W00 a few days after the share split. Price sold off between 10 and 7 cents. |
| (Post 33 of 56) 03/06/2000.10:58:00 |
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NETWORK FOODS INTERNATIONAL LTD IMPORTANT NOTICE EXPIRY OF WARRANTS 2000 TO SUBSCRIBE FOR NEW ORDINARY SHARES OF S$0.25 EACH IN THE CAPITAL OF NETWORK FOODS INTERNATIONAL LTD (THE "COMPANY") AT 5.00 P.M. ON MONDAY, 10 APRIL 2000 To : All Holders of Warrants 2000 THIS NOTICE IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. IF YOU ARE IN DOUBT AS TO THE ACTION YOU SHOULD TAKE, YOU SHOULD CONSULT YOUR STOCKBROKER, BANK MANAGER, SOLICITOR, ACCOUNTANT OR OTHER PROFESSIONAL ADVISER IMMEDIATELY. If you have sold all your Warrants 2000, you should immediately upon receipt of a copy of this notice, send it to the purchaser or to the bank, stockbroker or agent through whom the sale was effected for onward transmission to the purchaser. In this notice, the term "Warrants 2000" refers to all the warrants issued by the Company pursuant to the Deed Poll dated 4 March 1997 executed by the Company ("Deed Poll"). EXPIRY OF WARRANTS 2000 AT 5.00 P.M. ON MONDAY, 10 APRIL 2000 Holders of the Warrants 2000 ("Warrantholders 2000") are reminded that in accordance with the terms and conditions of the Warrants 2000, the right to subscribe for new ordinary shares of S$0.25 each in the capital of the Company ("New Shares") comprised in the Warrants 2000 will expire on 5.00 p.m. on Monday, 10 April 2000, after which time any rights comprised in the Warrants 2000 which have not been exercised will lapse and the Warrants 2000 will cease to be valid for any purpose. EXERCISE PRICE The exercise price of the Warrants 2000, which was adjusted on 7 January 2000 in view of the subdivision of the shares in the share capital of the Company by dividing each ordinary share of S$1.00 into four ordinary shares of S$0.25 each and in accordance with the terms and conditions of the Deed Poll, is currently S$0.25 for each New Share (the "Exercise Price"). PROCEDURE FOR EXERCISE OF WARRANTS Warrantholders 2000 who wish to exercise their Warrants 2000 to subscribe for New Shares must do so in accordance with the terms and conditions of the Deed Poll and Warrants 2000. In particular they must complete and sign an exercise notice ("Exercise Notice"), copies of which are obtainable from the Warrant Agent, M & C Services Private Limited (the "Warrant Agent"). Duly completed Exercise Notices must be lodged with the Warrant Agent at the address stated below not later than 5.00 p.m. on Monday, 10 April 2000 together with the following :- 1) a remittance (in Singapore currency) by banker's draft or by cashier's order drawn on a bank operating in Singapore in favour of "Network Foods International Ltd" for the full amount (free of any foreign exchange commissions, remittance charges or other deductions) of the aggregate Exercise Price payable in respect of the Warrants 2000 exercised and such other applicable expenses specified in the Exercise Notice. The following should be written clearly on the reverse side of the cashier's order or the banker's draft (as the case may be) :- (a) where the Warrant Certificate(s) is/are registered in the name of a person other than The Central Depository (Pte) Limited ("CDP") : (i) the name of the exercising Warrantholder 2000; (ii) the number of Warrants 2000 being exercised; and (iii) the certificate number of the relevant Warrant Certificate(s); or, (b) where the Warrant Certificate(s) is/are registered in the name of CDP : (i) the name of the exercising Warrantholder 2000; (ii) the number of Warrants 2000 being exercised; and (iii) the Securities Account number of the exercising Warrantholder 2000 which is to be debited with the number of Warrants 2000 being exercised; 2) the relevant Warrant Certificate(s), if the Warrants 2000 are not registered in the name of CDP; 3) payment of any deposit or other fees or expenses for the time being chargeable by and payable to CDP, and any stamp, issue, registration or other similar taxes and duties arising on the exercise of the relevant Warrants 2000 or the allotment of any New Shares to the CDP for the account of the Warrantholder 2000; 4) if applicable, payment of any fees for, submission of any necessary documents to effect, and payment of the expenses of, the registration of the New Shares issued upon exercise of the relevant Warrants 2000, and the delivery of certificates for the New Shares to the place specified by the exercising Warrantholder 2000 in the Exercise Notice; and 5) such evidence (if any) as the Warrant Agent may require to determine or verify the due execution of the Exercise Notice by or on behalf of the exercising Warrantholder 2000 (including every joint holder, if any) or otherwise to ensure the due exercise of the Warrants 2000. Any exercise by a Warrantholder 2000 in respect of Warrants 2000 registered in the name of CDP shall be further conditional on the number of Warrants 2000 so exercised being available in the "Free Balance" of the Securities Account(s) of the exercising Warrantholder 2000 maintained with CDP. A Warrantholder 2000 (including joint holders) exercising Warrants 2000 registered in his name and who has elected in the Exercise Notice to have delivery of the New Shares arising from the exercise of such Warrants 2000 effected by crediting his Securities Account with CDP shall be obliged to pay to CDP by way of a separate remittance in favour of "The Central Depository (Pte) Limited" a deposit fee of S$10.30 (inclusive of GST) for each certificate in respect of such New Shares to be credited to his Securities Account. Where the Warrants 2000 are not registered in the name of CDP, purchasers of these Warrants 2000 who have not been registered as holders of such Warrants 2000 and who wish to exercise the subscription rights comprised in such Warrants 2000 must lodge with the Warrant Agent the relevant Warrant Certificate(s), the relevant transfer(s) duly executed, and the registration fee of S$2.06 (inclusive of GST) for each Warrant Certificate, immediately and in any event before 5.00 p.m. on Monday, 10 April 2000. At the same time, such purchasers should also exercise the subscription rights comprised in such Warrants 2000 and submit the duly completed and signed Exercise Notice, the requisite payment of the aggregate Exercise Price payable for the Warrants 2000 exercised, and all other documents and payments described in the paragraphs above, to the Warrant Agent. Warrant Certificate(s) registered in the name of a person other than CDP shall no longer be acceptable for deposit with CDP for registration purposes after 29 March 2000. WARRANT AGENT The address, telephone number and business hours of the Warrant Agent are set out below :- M & C Services Private Limited 16 Raffles Quay #23-01 Hong Leong Building Singapore 048581 Telephone No: 228-0508 / 228-0560 Office hours: Mondays to Fridays 8:45 a.m. to 5:45 p.m. (Closed on Saturdays, Sundays and Public Holidays) Copies of the Exercise Notice are obtainable from the Warrant Agent at the above address. LAST DAY FOR TRADING IN THE WARRANTS 2000 The last day for trading in the Warrants 2000 on the Singapore Exchange Securities Trading Limited ("SGX-ST") will be Monday, 3 April 2000. Trading in the Warrants 2000 on the SGX-ST will cease with effect from Tuesday, 4 April 2000. The Warrants 2000 will be delisted from the Official List of the SGX-ST on Tuesday, 11 April 2000. BY ORDER OF THE BOARD CHING HUAY YONG COMPANY SECRETARY 6 March 2000 Submitted by Ching Huay Yong, Company Secretary on 6/3/2000 to the SES |
| (Post 34 of 56) 03/25/2000.00:35:00 |
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Interesting, W000410 going to expire yet some bought in 2471 lots on Thursday! It's cheaper to grab the parent shares than converting the warrant! Any comments? |
| (Post 35 of 56) 03/29/2000.06:23:00 |
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Network Foods 1999 net loss 1.685 mln sgd vs loss 13.606 mln Network Foods International Ltd 1999 results: Net loss - 1.685 mln sgd vs loss 13.606 mln Sales - 56.888 mln sgd vs 43.940 mln Opg profit - 3.598 mln sgd vs loss 3.642 Pretax loss - 2.244 mln sgd vs loss 14.937 mln Loss per share (pre-extras) - 0.01 cents vs loss 0.06 cents Final div - nil In a statement releasing its results, the company said it expects to improve its operating results in 2000, compared to the previous year. It said it will focus on improving its performance through cost controls, addition of new products, agencies, and third party contract manufacturing, to increase turnover and profitability. |
| (Post 36 of 56) 06/21/2000.12:37:00 |
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Another rotational target in the next few days, watchout for its volume in time to come.Strong resistance at 0.17, strong support at 0.13 |
| (Post 37 of 56) 07/07/2000.16:26:00 |
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Network Food & her warrants r sleeping bulls; careful, sleeping bull(low vol) r the most easily agitated ones.... Intending to vest interest.... |
| (Post 38 of 56) 07/13/2000.00:56:00 |
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I think this counter has rested for quite some time and it's time for a run, best buy below 0.15 |
| (Post 39 of 56) 07/13/2000.11:11:00 |
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Cato, Bulleye168, Based on your prompting, took a look at the historical charting facility here at SI and noticed some interesting developments. My comments thus: * This is definetly an empty room. Not much has been happening over past few months, although there has been a moderate pick up in volume activity over past few days. Another proof of the empty room is the scanty postings at this thread too. * The 13c level has proved to be a strong floor as all selling gets easily absorbed when nearing that level. Equally 15c seems like a resistance area, but once broken can give way to sharp spikes like this stock frequently displays on the charts. * The short-term moving averages are starting to converge together, which is a bullish sign and usually a prelude to price action. In this case, I feel the upside near 20c will be tested soon enough. * Volume, while still low, is seeing a pick up and if your glance over to each time there was a price rise, the volumes ahead of that previous move was small too. That indicates to me that IH here are small-timers, and if any rally develops, it will be fast-paced and short-lived. What it needs is a trigger. Rumour, corporate development, results gossip etc. Keep your ears peeled for any such straws in the wind. Once it hits the SGX floor, it will be off to the races! Bear in mind though, this is weak company struggling to find a niche in the food industry. So, I won't be sticking with this for the long-haul. At best a punt for some coffee money. No vested interest. Just my 2.5c worth |
| (Post 40 of 56) 09/12/2000.03:09:17 |
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Network Foods 1H Net Losses S$1.3M Vs S$829,000
Source : Dow Jones 18:27 11/09/2000 Network Foods International Ltd. (P.NFI) - Singapore Half Year To June 30 - 2000 vs 1999 Net Profit - (S$1,317,000) vs (S$829,000) Pretax Profit - (1,456,000) vs (1,621,000) Revenue - 24,586,000 vs 23,173,000 Per Share Net Profit - (0.37 cent) vs None Dividend - None vs None Figures in parentheses are losses. |
| (Post 41 of 56) 10/25/2000.02:07:53 |
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Share Sale Agreement
The Directors of Network Foods International Limited (the "Company") hereby announce that the Company has entered into a Share Sale Agreement ("Agreement") with Pala Cinamon Confectionery Limited ("PCC") to sell all the shares in its wholly owned subsidiary, Fairbridge Corporation ("Fairbridge") to PCC. Fairbridge is a company registered in the British Virgin Islands and whose principal activity is that of an investment holding company. Fairbridge holds 80% of the shares in PT Indo Cocoa Specialities ("PTICS"), an Indonesian corporation involved in the manufacturing of cocoa products, chocolate and confectionery. As at 30 June 2000, the unaudited net asset value of Fairbridge group was -S$37,468,000. The losses attributed to the Fairbridge group, based on the unaudited accounts for the 6 month period ended 30 June 2000 amounts to S$954,000 which represents approximately 66% of the losses of the Company (on a consolidated basis) for the same period. Under the Agreement, the Company will sell all its shares in Fairbridge to PCC for a cash consideration of US$3.1 million (approximately S$5.4 million). The consideration was arrived at on a "willing buyer, willing seller" basis after negotiations taking into account the assets and liabilities of Fairbridge. Completion of the sale is subject to, inter-alia, the following conditions:- (i) compliance with the applicable requirements of the Listing Manual of the Singapore Exchange Securities Trading Limited; (ii) PTICS entering into a Manufacturing Agreement with the Company to ensure the continuous supply of its brands to the markets serviced by PTICS; and (iii) forgiveness of debt owing to the Company already fully provided in the account which will therefore have no material impact to the financial position. As at 30 June 2000 the amount of the debt was S$37,048,000 of which S$37,048,000 had been provided The Board of Directors of the Company are of the view that the divestment of Fairbridge would be in the interest of the Company, as a substantial part of the Company's losses for the past 3 years can be attributed to Fairbridge. The divestment is also in line with the Company's efforts to enhance its shareholders' value by disposing of non profitable businesses and assets, and to improve the overall earnings of the Company. The sale proceeds of US$3.1 million will be used to fund the Company's core activities. None of the Directors or substantial shareholders of the Company have any interest in the transaction other than via their interest in the Company. Based on the unaudited accounts for the half year ended 30 June 2000, and assuming that none of the outstanding warrants were exercised, the impact of the disposal on the net tangible asset per share and earnings per share of the Network group will be as follows:- (i) net tangible asset per share will increase from 8.1 cents to 9.6 cents; and (ii) earnings per share will increase from negative -0.4 cents to 1.1 cents. Submitted by Ching Huay Yong, Company Secretary on 24/10/2000 to the SGX |
| (Post 42 of 56) 10/26/2000.00:48:49 |
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Network Foods sells unit Fairbridge to Pala Cinnamon for 3.1 mln usd
SINGAPORE (AFX-ASIA) - Network Foods International Ltd said it has sold its wholy-owned unit Fairbridge Corp to Pala Cinnamon Confectionery Ltd for 3. 1 mln usd. Fairbridge, an investment holding company, owns 80 pct of PT Indo Cocoa Specialties. Network Foods said losses attributed to Fairbridge in the first half reached 954,000 sgd or about 66 pct of its consolidated losses. If the sale was done in the first half, Network Foods said its net tangible asset per share would have risen to 9.6 cents from 8.1. It would have also booked earnings per share of 1.1 cents instead of a loss per share of 0.4 cents. Proceeds from the divestment will be used to fund the company's core activities, it said. |
| (Post 43 of 56) 11/15/2000.00:30:52 |
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Network Foods completes sale of shares in subsidiary to Pala Cinamon
SINGAPORE (AFX-ASIA) - Network Foods International Ltd said it has completed the sale of all its shares in its wholly-owned subsidiary, Fairbridge Corp, to Pala Cinamon Confectionery Ltd. Fairbridge and PT Indo Cocoa Specialities have ceased to be subsidiaries of the company, it said. Network Foods closed 0.005 sgd higher at 0.095 on volume of 45,000 shares. |
| (Post 44 of 56) 11/15/2000.01:35:07 |
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Share Sale Agreement
Further to the announcement made by the Directors of Network Foods International Limited ("the Company") on 24 October 2000, the Directors of the Company are pleased to announce that the Company has today completed the sale of all its shares in its wholly owned subsidiary, Fairbridge Corporation to Pala Cinamon Confectionary Limited. Following completion of the sale, Fairbridge Corporation and its subsidiary, PT Indo Cocoa Specialities have ceased to be subsidiaries of the Company. Submitted by Ching Huay Yong, Company Secretary on 14/11/2000 to the SGX |
| (Post 45 of 56) 02/18/2001.22:37:05 |
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Netwrk - Good to accumulate some at 8.5 cents and below. I have bought some at 8.5 cents. I will buy some at 8 cents. The lowest to date is 7 cents. Trade at DBS Securities at 0.35% brokerage, minimum $23/-. |
| (Post 46 of 56) 03/14/2001.15:44:25 |
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NETWORK FOODS INTERNATIONAL LTD
Amendments to Proforma Full Year Financial Statement Announcement Released on 5 March 2001 7. (a) Review of the performance of the company and its principal subsidiaries Sales for the second half of the year grew by 16% over the preceding six months. However, turnover in Singapore declined over the previous year primarily from the loss of the Nabisco agency towards the last half of 1999 and also intensified competition in the gift and hamper business. During the year, the Group was able to capitalise on the recovering regional economy consolidating its turnover to S$52.9 million. Interest on fixed deposits from the Rights Issue proceeds increased other income by 34% compared to the previous year. These proceeds were also partly used to discharge bank borrowings contributing significantly to a 48% reduction in interest expenses. Further streamlining of the Group's operations including reducing overheads and operating expenses resulted in a 30% increase in annual operating profit to S$4.6 million before interest, depreciation, exceptional items, taxes and foreign exchange adjustments. In November 2000, the Group divested its subsidiary, Fairbridge Corporation which controlled 80% of the Group's non-profitable manufacturing operation in Indonesia, Messrs P T Indococoa Specialities. This resulted in an exceptional gain of S$5.3 million which, together with the Group's improved productivity, helped to generate a profit of S$3.8 million before tax for the year under review. This represents a turnaround of S$6.1 million on 1999, despite having to absorb a cumulative foreign exchange loss of S$1.1 million from the declining Indonesian Rupiah prior to the divestment. The Group has no predetermined hedging policy which depends on the economic environment. It was especially difficult to hedge the Indonesian Rupiah in view of the high costs and associated risks. 8. Commentary on current year prospects The Group is focused on improving its performance and will continue to optimise sales, control costs and operating overheads. Additionally, the Group will source for new agencies to expand the product range and will continue to develop new products internally to offer consumers a wider choice. Network Foods Malaysia has started marketing wines from Australia and Chile and, in Singapore, the Group is extending its portfolio from frozen to chilled foods. The manufacturing units will intensify their export drive to broaden the presence of Tango and Kandos chocolates in the region. The Group will also pursue third party contract manufacturing opportunities for other products in an attempt to increase overall turnover and consequently profitability. Barring unforeseen circumstances and exceptional items, the Group expects to be able to improve its operating results in year 2001. Submitted by Ching Huay Yong, Company Secretary on 14/03/2001 to the SGX |
| (Post 47 of 56) 07/03/2001.16:51:44 |
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going alive soon... |
| (Post 48 of 56) 02/26/2002.16:19:44 |
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NETWORK FOODS INTERNATIONAL LTD
Clause 902(3) of the Listing Manual Pursuant to Clause 902(3) of the Listing Manual, Network Foods International Limited (the "Company") wishes to inform that there was no person holding managerial position who was realted to a director or substantial shareholder of the Company or any of its principal subsidiaries in respect of the financial year ended 31 December 2001. Submitted by Ching Huay Yong, Company Secretary on 26/02/2002 to the SGX |
| (Post 49 of 56) 03/20/2002.14:32:20 |
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| (Post 50 of 56) 03/22/2002.16:40:21 |
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NETWORK FOODS INTERNATIONAL LTD
Substantial Increase In Trading Volume On The Exchange The Directors of the Company wish to confirm that they are not aware of any material information which could have contributed to a sharp increase on the trading volume and the price of its securities on 21 March 2002. Submitted by Ching Huay Yong, Company Secretary on 22/03/2002 to the SGX |
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