REDtone Intl

REDtone Intl

Postby winston » Fri Dec 12, 2014 5:18 am

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Berjaya Corp raises its stake in REDtone to 20.05%

KUALA LUMPUR (Dec 11): Berjaya Corp Bhd (BCorp) ( Financial Dashboard), controlled by Tan Sri Vincent Tan, has increased its equity stake in REDtone International Bhd ( Financial Dashboard) to 20.05%, from 12.39%, at 70 sen per share against today’s closing of 71.5 sen.

In a filing with Bursa Malaysia today, BCorp said its wholly-owned subsidiary, Juara Sejati Sdn Bhd, had acquired REDtone International’s securities for RM29.15 million cash.

The securities bought included 36.69 million ordinary shares, 1.9 million of 10-year irredeemable convertible unsecured loan stocks (ICULS) and two million of warrants.

The shares were priced at 70 sen, while the ICULS and warrants were priced at 27 sen and 43 sen respectively.

According to the statement, the acquisition was undertaken through direct business transaction.

With the latest purchases, BCorp will control 62.93% of REDtone’s warrants, plus 13.57% of the company’s warrants.

BCorp remains as second largest shareholder after Indah Pusaka Sdn Bhd, which is controlled by the company’s chief executive officer Lau Pik Soon, with 30.2% shareholding.

On Tuesday, REDtone has been awarded RM88.57 million contract from Malaysian Communications and Multimedia Commission (MCMC), to build, operate and maintain radio access network (RAN) infrastructure in rural areas in Sarawak and Johor.

Source: The Edge
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Re: REDtone Intl

Postby winston » Fri Dec 19, 2014 6:59 am

Notable Trade: Vincent Tan's Berjaya Corp ups stake in REDtone to 30.74%

KUALA LUMPUR (Dec 18): Berjaya Corp Bhd (BCorp) ( Financial Dashboard), which is controlled by tycoon Tan Sri Vincent Tan, has acquired another 55.58 million shares in REDtone international Bhd, thus upping its stake in the company to 30.74%.

In a filing with Bursa Malaysia today, BCorp said its wholly owned subsidiary Juara Sejati Sdn Bhd acquired the shares, which represents a 10.71% stake in the REDtone, together with 1.57 million warrants, for RM39.62 million from Dec 16 to Dec 18.

The acquisitions, undertaken through the open market, mean BCorp now holds 159.47 million ordinary shares in the small-cap telecommunications services provider or 30.74% stake, with 21.67 million warrants.

“The acquisitions have enabled BCorp to further increase its investments in REDtone and to eventually equity account the results of the REDtone Group,” read the announcement.

Datuk Lye Ek Seang, who is presently the executive director of Berjaya Assets Bhd ( Financial Dashboard) and Berjaya Times Square Sdn Bhd, emerged as a substantial shareholder in REDtone on Nov 21 with a 5.71% stake in the company.

He now holds 5.75% shareholdings in REDtone, and was appointed as a non-independent and non-executive director in the company on Dec 17.

REDtone shares closed 2.5 sen or 3.55% higher at 73 sen today, rising to a market capitalisation of RM378.67million. Meanwhile, BCorp shares closed up 1.5 sen or 3.8% to 41 sen, giving it a market capitalisation of RM1.7 billion.

Source: The Edge
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Re: REDtone Intl

Postby winston » Thu Mar 19, 2015 5:09 am

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Berjaya Corp raises stake in REDtone to 28.29%

PETALING JAYA: Tan Sri Vincent Tan’s Berjaya Corp Bhd (BCorp) has increased its stake in REDtone International Bhd to 28.29% after its wholly owned subsidiary Juara Sejati Sdn Bhd bought six million shares in telecommunications company on the open market on March 12.

Proportionately, Tan’s stake in REDtone has increased to 29.95% by virtue of his interest in BCorp.

REDtone in its filing with Bursa Malaysia, however, did not disclose the transaction price.

Filings also indicated that Sultan Ibrahim Sultan Iskandar via a married deal has bought 74.6 million shares from REDtone chairman Datuk Seri Syed Ali Syed Abbas Al Habshee, making the former the single largest individual shareholder in REDtone with a 20.13% stake.

The shares were disposed of by Syed Ali’s vehicle, Tema Juara Sdn Bhd. Syed Ali is now left with 10.53% indirect interest in REDtone.

REDtone shares rose five sen to close at a five-year high of 88 sen.

Source: The Star
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Re: REDtone Intl

Postby winston » Thu Mar 19, 2015 5:30 am

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Johor Sultan ups stake in REDtone

PETALING JAYA: Johor’s Sultan Ibrahim Sultan Iskandar has emerged as the single-largest individual shareholder in REDtone International Bhd following a spate of open-market purchases, coupled with the conversion of his warrants and convertible loan stocks into ordinary shares.

The recent activities have boosted his holdings in the company to 20% from 4.8% previously.

“We are excited to have Tuanku as one of our major shareholders, especially at a time when we are aiming to further solidify our growth and widen our profits,” REDtone chairman Datuk Seri Syed Ali Syed Abbas Al Habshee said in a statement.

The statement said Sultan Ibrahim had been steadily accumulating shares in REDtone before this, and that prior to the warrant and convertible loan stock conversion, he had held a 4.8% stake.

REDtone also saw 74.60 million shares being traded in an off-market deal at an average price of 80 sen yesterday.

According to stock-market data, the shares accounted for 11.1% of its paid-up of 668.93 million shares.

“It is a vote of confidence for the management, the company and its future prospects. The group has posted three consecutive years of profit since the financial year 2012. REDtone’s position in the telco industry will be further strengthened,” he added.

Syed Ali also said that REDtone hoped to further expand its business in Johor to capitalise on the economic growth of the state.

It also aimed to play a significant role in assisting in the creation of more employment opportunities in Johor, he added.

Meanwhile, the other substantial shareholder of REDtone, Berjaya Corp’s chairman and chief executive officer Datuk Seri Robin Tan Yeong Ching, said he was pleased to hear of the stake increase by Sultan Ibrahim.

“This augurs well for the company, given that the Sultan is known to be an astute investor with a keen eye for companies and businesses with strong fundamentals and good growth potential,” Tan said in the same statement.

The corporate transaction in REDtone is the third major notable corporate transaction between the Sultan and the Tan family’s related companies.

Prior to this, StarBiz had reported back in February 2014 that he had paid RM396mil for a 15% stake in Tan Sri Vincent Tan’s privately-owned MOL AccessPortal Sdn Bhd.

MOL AccessPortal’s parent company, MOL Global Inc, subsequently listed on the US’ Nasdaq Stock Exchange in the fourth quarter of last year.

In December 2013, the Sultan paid RM250mil for 20% in Berjaya Times Square Sdn Bhd, which among others, owns the Berjaya Times Square Mall in Kuala Lumpur.

Source: The Star
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