Sapphire chart as of 19 Oct 17

What’s next for Sapphire if HKICIM becomes a substantial shareholder (19 Oct 17)

Sapphire surged 11.5% this morning to touch an intraday high of $0.340 today on an announcement posted on SGX late last night. It closed +$0.01 to $0.315.   What happened yesterday? Two of Sapphire Corp’s largest shareholders, namely Best Feast Limited and Ou Rui Limited are swaping a combined 27.96% stake in the company with new shares to be issued by Hong Kong-listed Hong Kong International Construction Investment Management Group (“HKICIM”). According to an announcement by Sapphire, the above share swap represents Sapphire’s share price of approximately  S$0.51[1] per share.   Why Sapphire? I have been following up on Sapphire’s […]

sapphire-chart-as-of-30-dec-16

Sapphire – disposal of Mancala, implications and updates (30 Dec 16)

On the last trading day of the year, Sapphire Corp announced that it has entered into conditional sale and purchase agreements (collectively, the “SPAs”) with each of China Vanadium Titano-Magnetite Mining Company Limited (“CVT”) and Toe Teow Heng (“TTH”) relating to its mining services business, Mancala. Is this a positive or negative development? What are the implications? Let’s take a closer look.   Disposal of Mancala and its implications Subject to the terms and conditions of the SPAs, CVT and TTH have agreed to acquire 49% and 32% of the issued and paid up capital of Mancala Holdings for a […]