Dayen Environmental

[helios]

Dayen Environmental says the group’s former deputy chairman and executive director John Lee is currently under investigations by the Commercial Affairs Department (CAD) under the Securities and Futures Act.

Lee has also informed the company that a police bail of $30,000 has been posted.

The group says it has suspended the services of Lee from Jan 15 until further notice.

Lee had assumed the role of Business Development Director of Dowtec Private Limited, an associate company of the group, since his resignation from the group as deputy chairman and executive director in Oct 15 2009.

Dayen says the group has furnished relevant information and documents to CAD and will continue to cooperate fully with the department in its investigations.

Source: The Edge.com

[Musicwhiz]

My sincere apologies. It should be "John Lee" instead.

See attached >> http://info.sgx.com/webcoranncatth.nsf/ ... penelement

[Coolkiller]

so cham liao....i still holding some of dayen's shares leh.Or moya can save the company or not?

[Coolkiller]

UPDATE FROM MOYA HOLDING COMPANY BSC (“MOYA”) IN CONNECTION WITH THE PROPOSED PLACEMENT OF 319,541,219 NEW ORDINARY SHARES AND NON-TRANSFERABLE SHARE OPTIONS TO SUBSCRIBE FOR UP TO 22,575,307 NEW SHARES IN THE CAPITAL OF DAYEN ENVIRONMENTAL LIMITED TO MOYA (THE “PLACEMENT”)

Unless otherwise defined, all capitalised terms used in this announcement shall bear the same meanings as in the Company's announcements dated 21 December 2009 and 24 January 2010 in relation to the Placement.

The board of directors (the “Board”) of Dayen Environment Limited (the “Company”) refers to the announcement made by the Company on 21 December 2009 in relation to the Placement. The Board has been notified by Moya on 8 February 2010 that the legal due diligence has been completed by Moya and the results are satisfactory.
In the meantime, Shareholders are advised to refrain from taking any action in relation to their Shares which may be prejudicial to their interests until they or their advisers have considered the information, the advice of the IFA and the recommendation of the Independent Directors to be set out in the Circular.

BY ORDER OF THE BOARD
Low Chai Chong
Independent Director and Audit Committee Chairman
9 February 2010
This announcement

[helios]

The unfolding of events surrounding Dayen is unpredicted.

Therefore, it is extremely difficult to assess the specific impact of some businesses, especially over a [peak and valley] economic cycle.

Agree?