You are currently browsing the Online Stockmarket Trading Update blog archives for March, 2009.
The US markets closed lower on Friday after a strong two week rally. The Dow was down 148 points or 1.8% at 7776, the S&P500 was down 16 points or 2.0% at 815 and the Nasdaq was down 41 points or 2.6% at 1545.
Gold fell heavily down $16.90 to $925/oz and crude oil fell also $1.96 to $52.38/bbl.
Crane Group Limited (CRG) has successfully completed an institutional placement raising $40 million in new equity. The placement was fully subscribed and priced at $7.50 per share (Placement Price), an 8% discount to the prior close. This will result in the issue of 5,333,334 new ordinary shares being issued.
Eligible shareholders will be offered the opportunity to participate in the Share Purchase Plan (SPP). The SPP will offer shareholders the opportunity to subscribe for up to $10,000 worth of Crane Group shares at the Placement price. If total applications under the SPP exceed $10 million, Crane Group will reserve the right to scale back partly or entirely the amount raised.
For More Share Purchase Plans go to http://blog.mdsfinancial.com.au/category/share-purchase-plans/
To Buy Shares And Participate in Share Purchase Plans use Trader Dealer http://www.traderdealer.com.au/
Diversified United Investments (DUI) announced on the 30/03/2009 that they would be conducting a Share Purchase Plan to raise additional capital. The record date is 26/03/2009 on which shareholders must own the share to participate in the SPP and the closing date is 24/03/2009. A maximum of $10,000 can be purchased by each shareholder at $2.00.
Discount : 9.6% Liquidity : Poor Profitability : Good Stability : Ok
* Note: Discount is based on the closing price on the 27 March 2009.
For More Share Purchase Plans go to http://blog.mdsfinancial.com.au/category/share-purchase-plans/
To Buy Shares And Participate in Share Purchase Plans use Trader Dealer http://www.traderdealer.com.au/
Diversified United Investments (DUI) announced on the 30/03/2009 that they would be conducting a Share Purchase Plan to raise additional capital. The record date is 26/03/2009 on which shareholders must own the share to participate in the SPP and the closing date is 24/03/2009. A maximum of $10,000 can be purchased by each shareholder at $2.00.
Crane Group Limited (CRG) has successfully completed an institutional placement raising $40 million in new equity. The placement was fully subscribed and priced at $7.50 per share (Placement Price), an 8% discount to the prior close. This will result in the issue of 5,333,334 new ordinary shares being issued.
Eligible shareholders will be offered the opportunity to participate in the Share Purchase Plan (SPP). The SPP will offer shareholders the opportunity to subscribe for up to $10,000 worth of Crane Group shares at the Placement price. If total applications under the SPP exceed $10 million, Crane Group will reserve the right to scale back partly or entirely the amount raised.
Presented by Michael Hevern
MDSFinancial
Click here to watch the presentation.
or
Click here to download the mp3 audio recording (890Kb).
General Advice Only
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In this morning s wrap
DOW: down 1.9% – Breakout?
$135bn Still to Bailout Banks;
S&P500 up 20% since 12yr Lows on March 9th
NASDAQ: down 2.6%
Uptrend Holding;
Lower But Continues to Outperform;
FTSE: down 0.6% – Resistance!
Miners Lower and Financials Generally Up;
DAX down 1.3% & CAC down (-1.8%)
NIKKEI: down 0.1%
G20 Meeting This Week
Hang Seng Flat
Oil: down 3.6% – At $52
US Weakening Demand
Gold: down 2% ($923) Big Picture
Commodities Lower;
USD Higher
SPI: Critical Levels: 3640 & 3440
SPI down 37 (-1%);
ASX200 Just Above Resistance
ASX News
OZL Minmetals revises bid
RIO up significantly overnight; 4 China Banks – funds for Chinalco deal
Energy, Gold & Materials to weigh
Financials may see profit taking/covered calls
ASX to open lower US lower; G20 Meeting & Unemployment Figures this week
Eden Energy (EDE) announces that Ashok Leyland has formally announced the launch of its new Indian Hythane engine. Ashok Leyland develops Hythane engines.
Hythane is a blend of natural gas and hydrogen (usually 20 per cent hydrogen by volume). Addition of Hydrogen (a renewable fuel), improves efficiency, while retaining the low emission characteristics of CNG.
Ashok Leyland, the Hinduja Group flagship, has successfully developed a 6-cylinder, 6-litre 92 kW BS-4 engine for operation with Hythane, in association with Eden Energy, Australia.
OZ Minerals (OZL) announced that the Treasurer of Australia has today released the following statement. “Today I advise of progress in my consideration of the takeover proposal by China Minmetals Non-Ferrous Metals Co Ltd for 100 per cent of Oz Minerals Ltd.
Under the Foreign Acquisitions and Takeovers Act 1975, all foreign investment applications are examined against Australia’s national interest. An important part of this assessment is whether proposals conform with Australia’s national security interests, in line with the principles that apply to foreign government related investments. OZ Minerals’ Prominent Hill mining operations are situated in the Woomera Prohibited Area in South Australia. The Woomera Prohibited Area weapons testing range makes a unique and sensitive contribution to Australia’s national defence. It is not unusual for governments to restrict access to sensitive areas on national security grounds.
The Government has determined that Minmetals’ proposal for Oz Minerals cannot be approved if it includes Prominent Hill. I have informed Minmetals of this decision. Discussions between the Foreign Investment Review Board and Minmetals are continuing in relation to Oz Minerals’ other businesses and assets, and the Government is willing to consider alternative proposals relating to those other assets and businesses. The Government issued an interim order on this application on 23 March 2009.”
Commenting on the statement, OZ Minerals Limited Managing Director and CEO, Andrew Michelmore said, “OZ Minerals is now in discussion with Minmetals regarding possible changes to the proposed transaction structure in light of the Treasurer’s statement and will make a further announcement in this regard as soon as possible.” OZ Minerals remains in constructive negotiations with its banks regarding the pending extension of certain of its loan facilities due on 31 March 2009.
United Group Limited (UGL) announced it has signed a contract to build an additional 72 Outer Suburban Railcars (Oscars) for NSW passenger rail operator, RailCorp. UGL Rail has already begun procuring materials on behalf of RailCorp in relation to the order, which has a total value of $320 million. UGL Rail will deliver the 72 new railcars from September 2010.
Aquarius Platinum Limited (AQP) and Ridge Mining plc (“Ridge”) announced that they expected to sign an implementation agreement in connection with the possible acquisition of Ridge by Aquarius (the “Acquisition”) prior to 7.00am GMT on 27 March 2009. Aquarius and Ridge can now confirm that the Implementation Agreement has been signed in the form anticipated by yesterday morning’s announcement.
Aquarius has agreed to make an all share offer for the entire issued and to be issued share capital of Ridge. Based on the theoretical ex-rights and placing price of the Aquarius shares following the equity capital raising and convertible issuance announced by Aquarius yesterday morning, the parties have agreed that there will be no adjustment to the exchange ratio, and therefore Aquarius and Ridge are pleased to confirm that the final exchange ratio is agreed at 1 Aquarius share for every 2.75 Ridge shares.
http://www.aquariusplatinum.com/
