Receipt of Approval-in-principle from SGX for rights issue of warrants
http://info.sgx.com/webcorannc.nsf/ef3ba6cb188613ea482571b2003641d3/a901eee8fe7505ef482572fe00542f8c?OpenDocument
PROPOSED RENOUNCEABLE NON-UNDERWRITTEN RIGHTS ISSUE OF UP TO
79,267,209 WARRANTS IN CONJUNCTION WITH A TERM LOAN FACILITY OF S$60
MILLION
The Board of Directors of Advance SCT Limited (the 􀂳Company􀂴) refers to the announcement
dated 25 May 2007 (the "Warrants Announcement") in relation to the proposed renounceable
non-underwritten rights issue ("Warrants Issue") of up to 79,267,209 warrants ("Warrants") at
an issue price of S$0.08 for each Warrant, each Warrant carrying the right to subscribe for one
(1) new ordinary share in the capital of the Company ("New Share") at an exercise price of
S$0.87 for each New Share, on the basis of three (3) Warrants for every ten (10) existing
ordinary shares in the capital of the Company ("Shares") held by Entitled Shareholders (as
defined in the Warrants Announcement), fr
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COPPER AT 5-WEEK HIGH on supply
COPPER AT 5-WEEK HIGH
Three-month copper <MCU3> on LME hit $7,695 a tonne, its
highest since May 16, underpinned by a string of looming
strikes and low inventories. It was last at $7,540, up $40 or
0.5 percent from Friday's close.
In New York, copper futures ended with modest losses after
the market was unable to maintain a morning rally above key
resistance.
Copper for September delivery <HGU7> ended the day down
0.15 cent at $3.42 a lb on the New York Mercantile Exchange's
COMEX division, after dealing between $3.4010 and $3.5170, its
loftiest level in 4-1/2 weeks.
"The threat of potential strikes (is) fuelling the market,"
an LME trader said.
MAN Financial said in a report: "Contract talks with
subcontract workers at Chile's Codelco are probably the most
important development to watch in this regard."
Contract talks at Chile's Collahuasi, one of the world's
largest copper mines, stalled on Friday with time running out
for the mine and union workers to reach a deal.[ID:nN15282032]
Also in Peru, workers at Southern Copper's two copper mines
and a smelter will go on strike June 23. [ID:nN15289707]
"Demand is obviously strong because copper inventories are
down by another 1,300 tonnes. There's also strike threats,"
Widmer said.
Copper stocks in LME warehouses have fallen by nearly
100,000 tonnes since early February and now stand at 116,600
tonnes, its lowest level since last October.
In industry news, Times newspaper reported that BHP
Billiton <BHP.AX> <BLT.L>, the world's biggest mining group,
had revived plans for a $40 billion takeover of aluminium
producer Alcoa Inc. <AA.N>.
Anglo American <AAL.L> <AGLJ.J> said it will expand
production and buy more assets to meet strong demand for raw
materials from China and India. [ID:nL18719314]
Nickel <MNI3>, which has lost more than $10,000 or 25
percent since its all-time high of $51,800 in early May, was
$1,800 down at $40,400, while zinc <MZN3> was $60 softer at
$3,685 and aluminium <MAL3> was at $2,705 against Friday's
$2,750.
Metal Prices at 1617 GMT
Metal Last Net Change Pct Move
LME Cu 7520.00 20.00 +0.27
SHFE Cu* 65400.00 2040.00 +3.22
LME Alum 2708.00 -42.00 -1.53
SHFE Alu* 19380.00 -10.00 -0.05
COMEX Cu** 347.35 5.05 +1.48
LME Zinc 3665.00 -80.00 -2.14
LME Nickel 40300.00 -1900.00 -4.50
LME Lead 2380.00 25.00 +0.01
LME Tin 14100.00 -90.00 -0.63
Change so far in 2007
Metal Latest bid End prev year Pct Move
LME Cu 7520.00 6330.00 +18.80
SHFE Cu* 65400.00 60080.00 +8.85
LME Alum 2708.00 2805.00 -3.46
SHFE Alu* 19380.00 20550.00 -5.69
COMEX Cu** 347.35 287.10 +20.99
LME Zinc 3665.00 4230.00 -13.36
LME Nickel 40300.00 33325.00 +20.93
LME Lead 2380.00 1670.00 +42.51
LME Tin 14100.00 11510.00 +22.50 * 3rd
contract months for SHFE copper and aluminium ** 1st contract
month for COMEX copper
((Editing by Michael Roddy; Reuters Messaging:
humeyra.pamuk.reuters.com@reuters.net; +44 207 542 9736))
Reuters 3000Xtra subscribers can access Metals Production
Database by clicking on URL below
http://mpd.session.rservices.com
For related news and prices, click on the codes in brackets:
LME price overview <RING=> LME aluminium
<0#MAL:>
LME copper <0#MCU:> Asia physicals
<BASE/ASIA1>
COMEX copper futures <0#HG:> Europe physicals
<BASE/EU>
TOCOM aluminium <0#JAL:> Shanghai copper
<0#SCF:>
Shanghai aluminium <0#SAF:>
Scrap metal prices <BASEU3>
Base/minor metals news [MET] All metals news
[MTL]
Metals summary [GLANCE/MTL] Scrap metals news
[SCRAP/EUR]
Index of summaries [GLANCE/] All commodities news
[C]
Metals diary [MTL/DIARY] Weather news
[WEA]
Foreign exchange rates <FX=S>
SPEED GUIDES <COMMODS>
<METAL1> <BASE/FUT1> <BASE/CASH1> <BASE/OPT1>
<LME/OPT1> <LME/FUT1> <LME/BROKER1> <LME/INFO1> <REUTERS>
Keywords: MARKETS METALS
Three-month copper <MCU3> on LME hit $7,695 a tonne, its
highest since May 16, underpinned by a string of looming
strikes and low inventories. It was last at $7,540, up $40 or
0.5 percent from Friday's close.
In New York, copper futures ended with modest losses after
the market was unable to maintain a morning rally above key
resistance.
Copper for September delivery <HGU7> ended the day down
0.15 cent at $3.42 a lb on the New York Mercantile Exchange's
COMEX division, after dealing between $3.4010 and $3.5170, its
loftiest level in 4-1/2 weeks.
"The threat of potential strikes (is) fuelling the market,"
an LME trader said.
MAN Financial said in a report: "Contract talks with
subcontract workers at Chile's Codelco are probably the most
important development to watch in this regard."
Contract talks at Chile's Collahuasi, one of the world's
largest copper mines, stalled on Friday with time running out
for the mine and union workers to reach a deal.[ID:nN15282032]
Also in Peru, workers at Southern Copper's two copper mines
and a smelter will go on strike June 23. [ID:nN15289707]
"Demand is obviously strong because copper inventories are
down by another 1,300 tonnes. There's also strike threats,"
Widmer said.
Copper stocks in LME warehouses have fallen by nearly
100,000 tonnes since early February and now stand at 116,600
tonnes, its lowest level since last October.
In industry news, Times newspaper reported that BHP
Billiton <BHP.AX> <BLT.L>, the world's biggest mining group,
had revived plans for a $40 billion takeover of aluminium
producer Alcoa Inc. <AA.N>.
Anglo American <AAL.L> <AGLJ.J> said it will expand
production and buy more assets to meet strong demand for raw
materials from China and India. [ID:nL18719314]
Nickel <MNI3>, which has lost more than $10,000 or 25
percent since its all-time high of $51,800 in early May, was
$1,800 down at $40,400, while zinc <MZN3> was $60 softer at
$3,685 and aluminium <MAL3> was at $2,705 against Friday's
$2,750.
Metal Prices at 1617 GMT
Metal Last Net Change Pct Move
LME Cu 7520.00 20.00 +0.27
SHFE Cu* 65400.00 2040.00 +3.22
LME Alum 2708.00 -42.00 -1.53
SHFE Alu* 19380.00 -10.00 -0.05
COMEX Cu** 347.35 5.05 +1.48
LME Zinc 3665.00 -80.00 -2.14
LME Nickel 40300.00 -1900.00 -4.50
LME Lead 2380.00 25.00 +0.01
LME Tin 14100.00 -90.00 -0.63
Change so far in 2007
Metal Latest bid End prev year Pct Move
LME Cu 7520.00 6330.00 +18.80
SHFE Cu* 65400.00 60080.00 +8.85
LME Alum 2708.00 2805.00 -3.46
SHFE Alu* 19380.00 20550.00 -5.69
COMEX Cu** 347.35 287.10 +20.99
LME Zinc 3665.00 4230.00 -13.36
LME Nickel 40300.00 33325.00 +20.93
LME Lead 2380.00 1670.00 +42.51
LME Tin 14100.00 11510.00 +22.50 * 3rd
contract months for SHFE copper and aluminium ** 1st contract
month for COMEX copper
((Editing by Michael Roddy; Reuters Messaging:
humeyra.pamuk.reuters.com@reuters.net; +44 207 542 9736))
Reuters 3000Xtra subscribers can access Metals Production
Database by clicking on URL below
http://mpd.session.rservices.com
For related news and prices, click on the codes in brackets:
LME price overview <RING=> LME aluminium
<0#MAL:>
LME copper <0#MCU:> Asia physicals
<BASE/ASIA1>
COMEX copper futures <0#HG:> Europe physicals
<BASE/EU>
TOCOM aluminium <0#JAL:> Shanghai copper
<0#SCF:>
Shanghai aluminium <0#SAF:>
Scrap metal prices <BASEU3>
Base/minor metals news [MET] All metals news
[MTL]
Metals summary [GLANCE/MTL] Scrap metals news
[SCRAP/EUR]
Index of summaries [GLANCE/] All commodities news
[C]
Metals diary [MTL/DIARY] Weather news
[WEA]
Foreign exchange rates <FX=S>
SPEED GUIDES <COMMODS>
<METAL1> <BASE/FUT1> <BASE/CASH1> <BASE/OPT1>
<LME/OPT1> <LME/FUT1> <LME/BROKER1> <LME/INFO1> <REUTERS>
Keywords: MARKETS METALS
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