Is extremely undervalued and could be making some big moves...towards China
Shareholders Buying Date Shareholder Previous (%) New (%) Shares Traded 03/04/2013 Grand Orient Capital Co Ltd -- 17.49 -- 11,000,000 03/04/2013 Sinotrans Investment Co Ltd -- 17.48 -- 11,000,000
@0.16cents. Huge trump card to be given such a piece of the company.
http://www.sinotransone.com/Sinotransgroup.html is a monster of a company in terms of shipping.
They (RIS)currently have up to 15,724,203 new Equity Securities available to the highest bidder (until 22 May 2014). No company presentation, and its too quiet for mine...
They have $10M in the bank. (Market Cap $7M)and if Sinotrans decide to take this company, they will. This new issue gives them 30% and the MD dilutes to 28%. They are probably in negotiations with the chinese on a price that will please LTH's (mostly malaysian i guess, King Leo and onshow and a few others who were onto it.)And I wouldn't be surprised if Grand Orient Capital draw up the takeover....
And for the first time in nearly seven years an RIS share will be bought on the Australian market for 0.16c By Christmas I reckon. Before the Chinese get here......
