Rowsley has staged quite a strong rebound after it’s expected drop due to EX bonus of Warrants 2 days ago. Volume has been strong (TOP 10) since its ex Bonus probably due to huge price discount currently compared to previous pre ex-bonus price. Likely to consolidate from 0.36 to 0.400 in the coming days before more upside. As long as 0.35 remains as a new support level, this can be poised for a potential rebound back to where it was last week. A break above 0.400 key resistance level can pave the way to 0.435 to 0.45 level before more consolidation. Note that the 200 DAY MA (Long term moving average) stands at around the 0.41 level, so if it does break above the 0.40 and 0.41 level, and pull further away, can resume its uptrend back up. Mainly a play on the Iskandar Malaysia Growth story with Peter Lim as a strong backing after this RTO.
Stop loss at 0.34
News – 27 SEPT 2013
*Rowsley: Substantial shareholder Peter Lim Eng Hock boosts stake to 49.64% from 29.9% after being allotted shares as partial consideration for the sale of Iskandar land to Rowley.
#Roswley: Peter Lim has boost his stake to 49.64% from 29.9% via Jovina, Bellton, Garville holdings. This was due to the latest allotment and issuance of 1.27b and 546.9m new ordinary shares in Rowsley to Jovina Investments and Bellton International, respectively as partial consideration for the sale of land from Vantage Bay to Rowsley.
#Roswley: Peter Lim has boost his stake to 49.64% from 29.9% via Jovina, Bellton, Garville holdings. This was due to the latest allotment and issuance of 1.27b and 546.9m new ordinary shares in Rowsley to Jovina Investments and Bellton International, respectively as partial consideration for the sale of land from Vantage Bay to Rowsley.
News – 26 SEPT 2013
Following the approval of the Shareholders obtained at the EGM held on 5 September 2013, the Board of Rowsley Ltd announced that the Proposed RSP (RSP ARCHITECTS PLANNERS & ENGINEERS (PTE) LTD) Acquisition and the Proposed Land (VACANT LAND LOCATED IN THE ISKANDAR DEVELOPMENT REGION, JOHOR BAHRU, MALAYSIA) Acquisition were completed. An aggregate of 875,000,000 RSP Consideration Shares at an issue price of S$0.150 per Share were issued in favour of the RSP Vendors, and an aggregate of 2,386,666,666 Land Consideration Shares at an issue price of S$0.150 per Share were issued in favour of the Land Nominees. (Closing Price: S$0.655, +1.6%)
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