Halcyon

Halcyon: The playup of 8.8% in share price today could have been a result of the 1.8% rise in rubber futures to JPY261.5/kg today at open. The rise would have been due to the depreciation of JPY against USD by 1.4% over the past 3 days. Also taking a cue from Japan-listed Yokohama Rubber, which rose 5.5% in Tokyo trading today. Prices of rubber have recently slumped to the lowest level in four weeks, heading for a fourth monthly decline, as a rebound in Japan’s currency against the dollar reduced the appeal of yen-based futures. Price now of $0.93 is almost double of the recent private placement of 40m shares to Credence Capital of $0.5175. Halcyon stated that gross proceeds of $20.7m will help strengthen the capital base of the Company as well as fund the growth and expansion of business.