siampolee
Detective
Alive alive O
Posts: 14,358 
Likes: 9,180
|
Post by siampolee on Mar 22, 2016 11:10:52 GMT 7
Wasn't there a ''financial expert'' who wanted to run an investment training course for novices who was heavily into Jasmin as I recall ?
Now he seems to be very low profile.
I wonder whether he was or is the financial advisor to the company he touted and idolised because of his shareholding and dividends paid?
Must be laughing fit to cry now and probably verging on financial hysteria.
|
|
|
|
Post by Fletchsmile on Mar 22, 2016 11:40:20 GMT 7
Saw on TFEX that futures trading has been halted on JAS, because SET has halted trading
TFEX announces temporary halt of JAS Futures
___________________________________________
As SET temporarily halted trading on the underlying JAS,
In accordance with its authority of Thailand Futures Exchange Regulation,
TFEX decides to suspend trading of JAS Futures, for a certain period,
from the morning session of March 22, 2016 onwards.
TFEX will recommence the trading of JAS Futures when
the underlying JAS resumed trading.
Further information, please contact SET Contact Center 0-2009-9999
----------------------------------------------------------------------------------------------
and also....
H sign postedon "JAS" and DWs havingJAS as underlying asset and SET requires JAS to clarify
impact regarding JASMBB’s unfulfillment for Spectrum Licensing.
On December 21, 2015, Jasmine International Public Company Limited (JAS) has disclosed
information to SET that Jas Mobile Broadband Company Limited (JASMBB), a 100% subsidiary of JAS, won
the auction of 900 MHz Spectrum license at the total bid price of THB 75,654 million. As a result, JASMBB
has to follow the condition precedent before officially awarded the license within 90 days after receiving the
official notification of auction result. (Details as shown on JAS’s news on December 21, 2015) Due to
JASMBB failed to fulfill the terms and conditions set prior to being awarded the license within a specified
period on March 21, 2016.
The mentioned information is significant which the listed company have to disclose to SET within
9.00 am of the next business day. However, SET has not received the clarification on the above issue from
JAS. Due to that information is significant which may affect investment decision making. Thus, in order to
inform the complete and clear information to investors, the SET therefore posted a "H" sign to suspend
trading on JAS's securities effective from the morning trading session of March 22, 2016 until the SET has
received the clarification as follows;
1. Why JASMBB, a 100% subsidiaries of JAS, failed to fulfill the terms and conditions set prior
to being awarded the license.
2. The impact of JASMBB such as the amount of forfeited collateral, expenditures and probably
occurred damages to JASMBB, JAS has to take joint-responsibility.
3. Specify the impact to financial status and business operations of JAS according to JAS’s
financial statement yearly 2015 shown that JAS established JASMBB on August 21, 2015 to be
the mobile phone business service provider at THB 350 million paid-up capital and lended
loans to JASMBB amount THB 302 million, totally THB 652 million.
******************************************************
|
|
AyG
Crazy Mango Extraordinaire
Posts: 5,871
Likes: 4,555
|
Post by AyG on Mar 22, 2016 13:52:37 GMT 7
JAS Mobile Broadband is going down in Thai telecom infamy as one of its worst defaulters after executives failed to show up with a spectrum licence payment or give any explanation for the company's inaction. After... And yet JAS stock is up 2.79% on the day. However, trading has now been suspended. Given that the company faces massive fines and the potential loss of all its telecom licences, somebody must have some inside information to think that there is good news in this mess somehow. Almost as much drama as watching a Thai lakhorn. |
|
|
|
Post by Fletchsmile on Mar 22, 2016 14:32:38 GMT 7
Could well have been that people have just sold off among all the uncertainty, given markets don't like negative surprises and uncertainties. So it may have got overdone, as people didn't know which way it would go. Now JAS have defaulted on the payment the issue of whether they will default or not has been cleared. Still a lot of questions left, but the one of whether they'll default or not has gone. Panic selling may also have kicked in earlier, which at some point gets followed by a bounce like we've seen recently. I wonder if a certain someone on TVF or anyone that listened to him also sold out and panicked  JAS is just way too speculative for me, and difficult to know exactly what's happening. Can't be confident the management have things under control either As you say the whole process has been a farce. Pantomime or Thai Lakorn same same. Entertaining as long as you're not a shareholder. Hard to take the them seriously though as an investment. |
|
|
|
Post by Fletchsmile on Mar 23, 2016 8:50:03 GMT 7
Another element to the recent share price increase is that in the last couple of weeks or so they have been talking about buying back around 16% of the shares at 5 baht per share.
This seemed a bizarre move in the circumstances. Given that they were struggling to find the cash to meet the bid payment, I wonder where the idea came from to use cash to buy back their own shares.
Ignoring what may be smoke and mirrors, and any reasoning behind such a move, and assuming it would be real.
Share price the day before the announcement on 7 March was 3.14. They then announce the potential buyback of around 16% at 5 baht a share.
This theoretically means someone could buy 6 shares at 3.14, and 16% or 1 in 6 could be bought back at 5 baht. So there's a potential gain in there. Would need fuller analysis though.
This probably explains part of the increase as well.
What's also interesting is that this share buyback above the current market price was announced on 7 March. However the share price jumped from 2.78 to 3.14 a gain of around 13% in the couple of days before the announcement. This is an unusual gain, way above the index. Makes you wonder as you say what inside information is floating around that isn't fully available and disclosed, and what some people get wind of beforehand.
|
|
AyG
Crazy Mango Extraordinaire
Posts: 5,871
Likes: 4,555
|
Post by AyG on Mar 25, 2016 6:54:07 GMT 7
A Bangkok Post opinion piece suggests that share price movements were a bit iffy, too "If the NBTC and the Securities and Exchange Commission (SEC) are serious about tackling issues they should look at the share trading of JAS since March 1 and it's not too difficult to see there is something wrong." It also suggests that NBTC were remiss in setting the payment deadline at 4:30 p.m.. Apparently on the SET trading actually goes on for a few minutes past the official "close" time, allowing for dodgy dealing. www.bangkokpost.com/opinion/opinion/910036/its-taken-two-to-tango-in-the-jas-bid-fiasco |
|
