Assuming $0.11 per share, the Financier may unload another 7.27mln shares into the open market. After which the balance pledged shares shall be return to Mr. Wong. So will the stock bounce back to $0.3?
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BeautyChina - Once the force selling over.. it could recover
Beauty China Holdings Limited - The Board has been informed by Mr Wong that Lucky Gain has pledged all his shares in the Company to obtain credit facilities. Since the forced sale of 22,405,000 shares during 3 March 2009 to 4 March 2009 through open market, the outstanding sum owed to a financier as of today amounted to approximately S$800,000 and Mr Wong's interest in the Company has reduced to 32.28%. Should Lucky Gain fail in fulfilling any of its obligations to the financier, the financier may further dispose of the mortgaged shares. The balance pledged shares of Lucky Gain would be released from all encumbrance after the amount outstanding has been repaid or satisfied through forced sale.
Assuming $0.11 per share, the Financier may unload another 7.27mln shares into the open market. After which the balance pledged shares shall be return to Mr. Wong. So will the stock bounce back to $0.3?
Assuming $0.11 per share, the Financier may unload another 7.27mln shares into the open market. After which the balance pledged shares shall be return to Mr. Wong. So will the stock bounce back to $0.3?
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