Conversion of 2012 Warrents - REEF

Malika1990 · 1 Conversion of 2012 Warrents - REEF Fri Jul 20, 2012 9:13 am

Malika1990

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Conversion of 2012 Warrents - REEF 532341_482445148450401_1980537336_n

Last edited by Malika1990 on Fri Jul 20, 2012 11:07 am; edited 3 times in total

Slstock · 2 Re: Conversion of 2012 Warrents - REEF Fri Jul 20, 2012 9:30 am

Slstock

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My goodness. Estimated to be raised over 943 Million
amount raised Rs 35 million ,

What a disaster. We expected this after the price down though.

ps : 16+ million more share to be subscribed by Divasa and George Steuat Eng.

ddindika · 3 CONVERSION OF 2012 WARRANTS - REEF Fri Jul 20, 2012 9:57 am

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http://www.cse.lk/cmt/upload_cse_announcements/1031342755134_.pdf

WildBear · 4 Re: Conversion of 2012 Warrents - REEF Fri Jul 20, 2012 12:01 pm

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Can terribly affect the prices of REEF.N and W.19

Chinwi · 5 Re: Conversion of 2012 Warrents - REEF Fri Jul 20, 2012 12:18 pm

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WildBear wrote:Can terribly affect the prices of REEF.N and W.19

Can go both ways.

1) Less dilution of N share. 2) Divasa & GS are going to buy half of the quantity at 30/- .

If they start the intended work after pumping 500 million , they can change the picture.

Apart from that, 3) Re-starting of Colombo highrises & CLND

BTW, I still believe Dili Dili is a master of marketing.

seek · 6 Re: Conversion of 2012 Warrents - REEF Fri Jul 20, 2012 1:08 pm

seek

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slstock wrote:My goodness. Estimated to be raised over 943 Million
amount raised Rs 35 million ,

What a disaster. We expected this after the price down though.

ps : 16+ million more share to be subscribed by Divasa and George Steuat Eng.

Working capital for future plans is not generated as expected. The construction cost is increasing.. I bet today, they will cut some of there plans.

May be only CITW and CITK will be build by 2015 or one of them could be dragged further.

WildBear · 7 Re: Conversion of 2012 Warrents - REEF Fri Jul 20, 2012 6:08 pm

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If CITW starts operation as expected, then Hikkaduwa, and Waskaduwa properties will generate some cash for their other plans. CITK is a big question mark. There was a big hype on Kalpitiya islands in last couple of years, but execution of plans are very lethargic.

Whitebull · 8 Re: Conversion of 2012 Warrents - REEF Fri Jul 20, 2012 6:14 pm

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Chinwi wrote:

WildBear wrote:Can terribly affect the prices of REEF.N and W.19

Can go both ways.

1) Less dilution of N share. 2) Divasa & GS are going to buy half of the quantity at 30/- .

If they start the intended work after pumping 500 million , they can change the picture.

Apart from that, 3) Re-starting of Colombo highrises & CLND

BTW, I still believe Dili Dili is a master of marketing.

I like ur positive sentiment.....but if someone is not already trapped they better be careful....

smallville · 9 REEF 2012 Warrants - OMG Mon Jul 23, 2012 10:06 am

smallville

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I just saw the announcement made regarding the aforesaid...

Jeez... Only 1.19 Mil shares added to the REEF.N as opposed to 31.46 Mil shares that were supposed to get listed.
Seems like DJ & major share holders even didn't convert.. May be a small percentage of the panic buyers of the W18 at the last day and free holders (again a very small %) have converted.. Twisted Evil

So the trick of pumping this up to 39 had not worked Evil or Very Mad

Conversion of 2012 Warrents - REEF Reef_w10

Chinwi · 10 Re: Conversion of 2012 Warrents - REEF Tue Jul 24, 2012 3:32 pm

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WildBear wrote:If CITW starts operation as expected, then Hikkaduwa, and Waskaduwa properties will generate some cash for their other plans. CITK is a big question mark. There was a big hype on Kalpitiya islands in last couple of years, but execution of plans are very lethargic.

Actually I went there two and half years ago when there was a big talk about that area.
We also wanted to buy some lands at cheaper prices in the so called *future Hikkaduwa*

we found the people had already increased the price of 1 perch from 10,000 to millions.

The condition of the lagoon was very bad. No one will swim in or touch that water because of the bad smell and colour. You cannot clean the stagnated water.

The quality of the water is much better in around the Islands situated at the top corner of the bay because of the fresh sea water coming in from east. The proposed Development are is in those islands and they are beyond the reach of land vehicles as no island is linked to the main land by a bridge.

Easiest way to go there is to take a boat from Battalan Gunduwa. Everything including the Construction material to be transported that way. Power is sent by under water cable. Fresh water will be a big problem if they do not invest in saltwater conversion.

Even at that time there was some construction going on by private parties.
I think they should get lot of support and collaboration from the Govt. and also from some external parties such as a tour operator from Middle East and a big hotel chain to convert and run this vast area to an attractive tourist location. Not only REEF others also should go there and invest to make the area another Ko phi phi or Phuket Island.

BTW, Wilpaththu is at right to the area you can link it by boat. Whale watching is also a plus factor. The area is Tsunami proof too.

Although I am still positive about what REEF can do in the future (If they really try) I cannot say I am a big fan of Kalpiti project at the moment.

I think you can find more easy and profitable ventures elsewhere to deal with at the moment. Is that the reason to this delay?

p.s.
After obtaining this first hand info, I wrote some negative comments - in another place - about this unwanted hype and their investment plan during that time. I think some of our readers can remember it.

I suggested at that time Kalpitiya is a nice, big place with unique features suitable to develop in a secondary stage of a post war tourist boom. Hence, I believe REEF also will put more efforts to other places and then accelerate Kalpitiya.

Disclosure: I have no REEF.N . Did some trading with W19 recently, hold few thousands now