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8.8 million shares under Public Placement
Issue Manager, Bookrunner and Underwriter: DBS
12 November 2014 Offering
18 November 2014 12 Noon Close of offering
19 November 2014 Balloting
20 November 2014 9am Commence trading on a “ready” basis
Growth strategies and Future Plans
- Expansion of Taxi Operations
- Diversification into other transport businesses
- Investment in Technology and Innovation
- Construction and Refurbishment of New Corporate Headquarters
Lockup period for major shareholders: 6 months at least
Chairman and CEO, Mr. Teo Kiang Ang, Executive Director and Deputy CEO, Mdm. Tan Lee Tiang and other existing Shareholders, Mr. Goh Seow Chai, Mdm. Tan Siew Kim and Mr. Lim Jin Hong, who collectively hold an aggregate of 502,760,000 Shares representing approximately 75.0% of issued share capital immediately after the Global Offering.
No formal dividend policy. Directors intend to recommend and distribute (i) dividends of not less than 15% of our profit after tax for FY2014 and (ii) dividends of not less than 60% of our profit after tax for FY2015 to reward shareholders.
Do read through the Risk Factors too. PDF page 43 – 48
Derive at least 80% of their revenue from daily rentals collected from renting out taxis to their drivers. This will be affected by the number of taxis they own and operate and the fixed daily rental they charge their taxi drivers.
Price of COE will affect the cost for acquiring taxis.
Note: Above prospectus is obtained from MAS Opera website. Above information extracted from prospectus itself.