Contel: To lift trading halt at 9am. Mgt highlights RTO uncertainties. States that the takeover target Solar Silicon Resources Group (SSRG) has not generated any revenue yet, and the enlarged group may not meet SGX listing req. Says alternative is for transfer listing over to the Catalist, but subject to approval as well...
Notes the proposed acquisition is subject to numerous conditions and there is no certainty that the RTO will be completed on the terms set out in the earlier announcement…
Counter last closed at 4cts. If proposed 10-for-1 consolidation takes place, and acq is carried at 50.5cts per consolidated new share, suggests potential upside of 26%. The risk and reward should be considered before trading in this concept stock, which is play on silicon mining and the solar industry.
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